As the world is witnessing rapid advancements in technology, the LTE advanced and 5G market is no exception. LTE advanced and 5G technology is going to be the center of an ecosystem that empowers continued digital transformation in the society. Moreover, LTE advanced and 5G technology is also expected to enable further economic growth and enhance digital opportunities for a hyper connected society, where not only are all people are connected to the network, but it also enables devices to virtually create a society with everything connected.
Continuous Investments Boosting Advancements in Telecom Infrastructure
Telecom infrastructure has always been one of the top priority sectors of most countries when it comes to investments. Continuous investments by public organizations and governments of various countries for the betterment of telecom infrastructure is one of the key factors driving growth of the LTE advanced and 5G market. Moreover, governments in various advanced and emerging economies are demanding the acceleration of rolling out 5G technology, which is expected to create potential growth opportunities for the LTE advanced and 5G market.
For instance, in June 2019, China’s Ministry of Industry and Information Technology (MIIT) officially issued licenses for the launch of commercial 5G networks in the country. This decision by the government to accelerate 5G deployment is expected to trigger the investments towards LTE advanced and 5G technology in the country.
Unleashing Full Potential of Emerging Use Cases
LTE advanced and 5G mobile networks are providing new capabilities to evolve existing services and create new services that help in extending application boundaries of businesses and industries. LTE advanced and 5G technology is changing the DNA of user experience by offering new applications and services through gigabit speeds and significantly improved network performance & reliability. LTE advanced and 5G technology is unleashing new use cases such as AR/VR, connected automotive, smart manufacturing, connected energy, connected drones, smart cities, wireless eHealth, wireless home entertainment, and much more.
Business Partnerships and Alliances to Shape Market Growth
Partnerships and collaborations among LTE advanced and 5G network equipment manufacturers and telecom service providers are significantly driving growth of the LTE advanced and 5G market, and helping them in escalating new innovations and revenue growth. Furthermore, rapid innovation in LTE advanced and 5G use cases is enabling providers to create more value for players in the digital ecosystem.
For instance, in October 2019, Ericsson and Turkcell signed an MoU to develop use cases that enable 5G usage in Turkcell’s network. According to the contract, both companies are focused on jointly developing a variety of 5G use cases for different industries, and unlocking new LTE advanced and 5G opportunities that support the digital transformation of all sectors in Turkey.
U.S., China, and Western Europe Prominent LTE Advanced and 5G Markets
In the past few years, the U.S., China, and Western European countries such as Germany, France, and the U.K. are leading research that is being conducted for the commercialization of LTE advanced and 5G technology. Continuous developments in the network infrastructure of these countries along with the growing need for faster data transfer and high-performance network equipment are some of the key factors driving growth of the LTE advanced and 5G markets in the these countries. For instance, in 2017 and 2018, Huawei, a Chinese telecommunication equipment manufacturer, invested approximately US$ 1.4 billion into 5G product development.
Furthermore, continuous increase in investments for the betterment of telecom infrastructure by government and public organizations of various emerging countries such as India, Mexico, Brazil, and Indonesia is also creating potential growth opportunities for the global LTE advanced and 5G market.
A complete view of the LTE advanced and 5G market has led our analysts to conclude that, the LTE advanced and 5G market is expected to create immense opportunities in the coming few years. From a global view, North America is currently the most dominating region, with a market share of 28% in the global LTE Advanced and 5G market. However, Asia Pacific excluding Japan is expected to witness the highest growth during the forecast period, owing to increasing investments in telecommunication infrastructure, rising digitalization, and increasing public-private partnerships.
LTE Advanced and 5G Market – Scope of the Report
Persistence Market Research (PMR) recently published a new research study on the LTE advanced and 5G market for the assessment period of 2019-2029. It offers a close look at the evolving aspects of the LTE advanced and 5G market as well as dynamics impacting market growth. The research study focuses on key developments in the LTE advanced and 5G market, and other developments that are on the cards. The report talks about various macro- and micro-economic factors responsible for having a huge impact on the growth of the LTE advanced and 5G market.
The market overview provides growth scenario and market potential with maximum precision, which is adjudged with suitable assumptions. The report features unique and relevant factors that are expected to create a significant impact on the LTE advanced and 5G market during the forecast period. This report includes a detailed and considerable amount of information, which will help new solution providers in the most comprehensive manner for better understanding.
Several stakeholders in the LTE advanced and 5G market can rely on the data offered in this research study and delve into pragmatic decision-making. Moreover, information offered in the LTE advanced and 5G market report also help new market entrants expand their bases in the LTE advanced and 5G market.
The report elaborates historical and current trends molding the growth of the LTE advanced and 5G market. The performance journey of the LTE advanced and 5G market has been drawn and analyzed in way that the lucrative side of the market is evident to readers. The competitive landscape presented in the LTE advanced and 5G market report gives a detailed outlook of profiles of key companies operating in the market, along with their differential strategies and key focus areas.
LTE Advanced and 5G Market: Segmentation
PMR’s research study on the global LTE advanced and 5G market offers detailed market segmentation, wherein, key segments have been discussed in detail. The segmentation of the LTE advanced and 5G market has been offered on the basis of technology, component, deployment area, and region. Every segment has been analyzed in detail and data pertaining to the growth of each segment has been included in the study.
By Deployment Area
LTE Advanced and 5G Market: Key Questions Answered in Report
The research study on the LTE advanced and 5G market offers inclusive insights about the growth of the market in the most comprehensible manner for the better understanding of users. Various insights offered in the report answer some salient questions that assist stakeholders in gauging all emerging possibilities in the market.
LTE Advanced and 5G Market: Research Methodology
A unique and promising research methodology forms the base of the LTE advanced and 5G market. The report has been prepared after a comprehensive analysis of market happenings, and riveting insights have been compiled meticulously. The research methodology of the LTE advanced and 5G market has been a two-step process that comprises of primary and secondary research. Key stakeholders, which include LTE advanced and 5G solution & service providers and network service providers, experts of several designations, including executive vice presidents, directors, service engineers, technical advisors, GM marketing professionals, and sales professionals have been interviewed.
Secondary sources referred to garner report findings include investor presentations of top players, white papers, World Bank, government websites, press releases, and many other credible sources.