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Global Long Term Evolution (LTE) Market to Soar at 78.6% CAGR till 2019 due to Increasing Demand for Higher Data Rates

The global long term evolution (LTE) market is at a developing stage and the growing demand for high-speed mobile broadband services will drive this market significantly. The global LTE market is expected to soar at a CAGR of 78.6% during the forecast period between 2013 and 2019. Being at its nascent stage, this market is demonstrating great growth opportunities in both developed and developing regions.

Consumer Demand for Superior Data Services to Propel the LTE Market

LTE technology generally marketed as 4G LTE is a wireless communication technology. 4G LTE reduces the cost per gigabyte with capacity per site. The growing need for this technology is stimulated by factors such as the elevated data usage, increasing need for higher spectral efficiency and data rates, accelerating deployments of smart technology devices coupled with the basic need for superior quality of services. Propelled by these market drivers, the global longer term evolution (LTE) market is expected to reach revenue of US$610.71 billion by end of 2019.

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LTE Advanced Technology Sector to Demonstrate High Growth Rate till 2019

The global LTE market according to technology is segmented into LTE Advanced, LTE FDD, and TD-LTE. LTE can deliver data speed of up to 30 Mbps and LTE Advanced technology can deliver a speed of 100 Mbps. The segment of long term evolution frequency division duplex (LTE-FDD) accounted for 56.8% market share in the 2012. Furthermore, the LTE Advanced segment is projected to grow at an impressive CAGR of 175.0% in the next four to five years. The LTE Advanced segment will benefit from the planned launch of this technology by several key industry operators.

Voice Over LTE Segment to Grow at 123.5% CAGR

On the basis of components, the global LTE market is divided into chipsets, infrastructure, network service providers, terminal equipments, LTE testing equipments, and network service providers. On the basis of services and applications, the global LTE market is classified into music, browsing, games, M-commerce, M2M and connected devices, mobile cloud services, P2P messaging, public safety LTE, VoLTE, and video-on-demand/TV. The growth of the VoLTE (voice over LTE) segment is attributed to the elevated demand for voice and messaging services over long term evolution operators and networks. This segment is projected to grow at a CAGR of 123.5% during between 2013 and 2019.

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Asia Pacific to Surpass North America in the Global LTE Market

According to geography, the global LTE market is segmented into North America, Asia Pacific, Europe, and Rest of the World (RoW). In 2012, North America was the largest market for LTE networks and services. This regional market was valued at US$5.36 billion in 2012, and was driven mostly by the declining prices of long term evolution technology in comparison with 3G. The North American LTE market is expected to be surpassed by Asia Pacific by 2015, as a result of the spiraling demand for high-speed wireless data coupled with cost spend on infrastructure by operators, especially in China, South Korea, Japan, and India. The Asia Pacific LTE market is anticipated to grow at an 88.7% CAGR during the forecast period and reach revenue of US$244.29 billion by 2019.

The leading network operator/carrier in 2012, in the global LTE market was Verizon Wireless with a substantial 58.1% share. The second leading operator in the market during the same year was NTT DoCoMo. Other notable network operators in the global LTE market are Vodafone, AT&T Mobility, Sprint Corp., China Mobile, T-Mobile, and SK Telecom. In 2012, Ericsson emerged as the leading LTE network infrastructure vendor with a market share of 30%, followed by Huawei.

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