According to Persistence Market Research industry analysis, the global 4G (LTE) devices market is expected to expand at a phenomenal CAGR of 16.7% over the forecast period of 2021-2031. The industry is currently worth US$ 40.6 Bn, and is anticipated to increase 4.5X by 2031-end. The market in North America is expected to account for nearly 33% of the global market share through 2031.
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- Apple Inc.
- Samsung Electronics Co., Ltd.
- Huawei Technologies Co., Ltd.
- Lenovo Group
- Xiaomi Inc.
- ZTE Corporation
- ASUSTeK Computer Inc.
- LG Electronics
Key Insights Covered in 4G (LTE) Devices Industry Survey:
- Market estimates and forecast 2016-2031
- Key drivers and restraints impacting market growth
- Segment-wise, country-wise, and region-wise analysis
- Competition mapping and benchmarking
- Brand share and market share analysis
- Key product innovations and regulatory climate
- COVID-19 impact on 4G (LTE) device sales and how to navigate
- Recommendation on key winning strategies
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Evolution in 4G (LTE) Devices Technology
Technology has picked up pace ever since 4G was launched and fast speeds have become the norm to maintain. As 4G becomes more and more essential, the devices required to utilize 4G have also increased exponentially.
- Verizon recently announced its Verizon Smart Display at the Amazon Alexa event on the 21st of July 2021. The device is based on 4G connectivity and responds to both “Alexa” and “Hi, Verizon” wake words. The device has an 8-inch 1,280 by 800 display, 4GB RAM, 16GB of internal storage, and a privacy shutter. It will also work with various music and video streaming services.
- Netgear recently launched a new Wi-Fi router that allows users to connect to the Internet using a sim card anywhere in the world. Usually, a router only works when connected to a modem for a fixed broadband connection. This Netgear Nighthawk 4G LTE Wi-Fi router LAX20 works on a 4G LTE SIM card and allows the user to connect to the Internet.
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Mobile devices refer to portable, compact, and lightweight computing devices featured with touch or non-touch display screens and sometimes a mini keyboard. These devices support 4G connectivity and are used to carry out day-to-day computing tasks including web browsing and running software applications.
Common types of mobile devices security include mobile phones, smartphones, tablets, personal digital assistant (PDA), pagers, and navigation devices. There has been a global increase in the use of 4G (LTE) devices and this has led to an exponential growth of the global 4G (LTE) devices market.
In terms of value, the global 4G (LTE) devices market is anticipated to expand at a CAGR of 16.7% during the forecast period (2021 – 2031), and is expected to account for US$ 185 Bn by 2031-end. Among all the products in the mobile devices market, 4G (LTE) devices are projected to be the fastest-growing segment over the forecast period.
Smartphone is anticipated to be the fastest growing segment of the global 4G (LTE) devices market over the forecast period owing to continuous innovation in devices to utilize advanced network services. Out of the total 4G (LTE) devices, the smartphone segment accounts for over 4/5 of the global 4G (LTE) devices market share by value.
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Growing adoption of smartphones in developing countries and government initiatives for implementing technological advancements in networking infrastructure are the primary factors fueling a robust growth of the global 4G (LTE) devices market during the forecast period.
Other factors contributing to market growth include growing demand for advanced networking technology, emergence of a wide range of new and robust connectivity options owing to the development of the Internet of Things (IoT), and growing consumption of HD video content.
Increasing competition among both international and local device manufacturers offering a bundled solution of network and devices is expected to attract more consumers making the solution more affordable and technologically advanced. This further supports the growth of the global 4G (LTE) devices market during the forecast period.
However, regulatory uncertainties and lack of awareness about 4G (LTE) is likely to slow down market growth over the forecast period.
The global 4G (LTE) devices market offers good opportunities for manufacturers owing to an increasing demand for low cost smartphones in developing regions and the rising impact of IoT on 4G (LTE) devices.
By Device Type
By Distribution Channel
- Multi-brand Stores
- Single Brand Stores
Developing countries in APAC showcase huge potential for low-end 4G (LTE) smartphones and tablets due to advancements in network infrastructure.
Globally, the single brand store distribution channel segment is expected to witness significant growth over the forecast period as compared to the multi brand store and online distribution channel segments, which are expected to witness relatively flat growth rates over the forecast period.
The global 4G (LTE) devices market is segmented into the five key regions of North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The 4G (LTE) devices market in North America is expected to account for nearly 1/3 of the global market share by 2031.
Revenue contribution from the 4G (LTE) devices market in Asia Pacific is expected to increase from 2021 to 2031. In the North America region, market share of the smartphone segment is anticipated to witness a decrease due to the introduction of other innovative smart devices that use advanced networking technologies.
The markets in Europe, Asia Pacific, and Middle East & Africa are expected to contribute significantly to the overall revenue growth of the global 4G (LTE) devices market. Sales of 4G (LTE) devices in the Latin America and Middle East & Africa regions is estimated to collectively account for over 10% market share in terms of value of the global 4G (LTE) devices market by 2021-end.
Key Market Players
Some of the leading companies operating in the global 4G (LTE) devices market are Apple Inc., Samsung Electronics, ZTE Corporation, Huawei Technology Company Limited, Lenovo Group Limited, ASUSTeK Computer Inc., Xiaomi Inc., and LG Electronics Inc.
Top market companies are focusing on increasing their offline presence by partnering with local retailers and are also making a swift strategic transition from 3G to 4G cellular data consumption.
FAQs Answered in Market Study
- What are the 4G (LTE) devices market statistics for 2021?
At present, the global 4G (LTE) devices market is worth US$ 40.6 Bn.
- How much will the 4G (LTE) devices market be valued by the end of the decade?
The 4G (LTE) devices industry is anticipated to top a valuation of nearly USD$ 185 Bn by 2031.
- What was the expansion rate for the past 5 years?
The industry experienced robust expansion at a CAGR of 18.6% from 2016-2020.
- What market share is held by Apple, Samsung, ZTE Corp., Huawei, and LG Electronics?
Apple holds a market share of 21%, Samsung Electronics holds 16%, ZTE Corporation holds 8%, Huawei Technology Company Ltd holds a share of 14%, and LG Electronics Inc. holds a share of 5%.
- What will be the CAGR over the next ten years?
The 4G (LTE) devices market is expected to expand at a CAGR of 16.7% over the decade.
- Which nations lead the export for 4G (LTE) devices?
China, Japan, and the U.S. are at the forefront in terms of export of 4G (LTE) devices.
- Which trends are ubiquitous in the 4G (LTE) devices landscape?
Rising demand for faster data rates and increased demand for spectral efficiency are key trends guiding the industry.
- Which countries are leading the production of 4G (LTE) devices?
The U.S., China, South Korea, and U.K. are majorly driving production of 4G (LTE) devices.
- How much of the global market share is North America expected to account for?
The 4G (LTE) devices market in North America is anticipated to hold nearly 33% of the global market share through 2031.
- At what CAGR is the United Kingdom market expected to progress?
The 4G (LTE) devices market in the United Kingdom is expected to increase at a CAGR of 5.5%.
- What are the statistics for the Japanese and South Korean industry?
The 4G (LTE) devices market in Japan is anticipated to progress at a CAGR of 12.1%, and South Korea at 8.6%.
- Which factors are responsible for shaping the demand for 4G (LTE) devices?
Growing adoption of smartphones in developing countries and government initiatives for implementing technological advancements in networking infrastructure are the two major factors driving demand for 4G (LTE) devices.