Long Term Evolution (LTE) Market Size, Trends And Overview Report 2024-2033

Overview and Scope

Long-term evolution (LTE) refers to a standard for wireless broadband communication for mobile devices and data terminals, providing high-speed data transmission for mobile devices and networks. It is designed to deliver high-speed data transfer rates with low latency, allowing users to browse the internet, stream media, make video chats, and run other data-intensive apps on their devices.

Sizing and Forecast

The long term evolution (LTE) market size has grown exponentially in recent years. It will grow from $38.56 billion in 2023 to $47.33 billion in 2024 at a compound annual growth rate (CAGR) of 22.8%. The growth in the historic period can be attributed to the data explosion, spectrum availability, smartphone proliferation, IP-based architecture, and mobile broadband connectivity.

The long term evolution (LTE) market size is expected to see exponential growth in the next few years. It will grow to $106.69 billion in 2028 at a compound annual growth rate (CAGR) of 22.5%. The growth in the forecast period can be attributed to increased adoption of 5G integration, industrial IoT and massive machine type communication (mMTC), adoption of open RAN (Radio Access Network) architectures, continued emphasis on energy-efficient LTE networks. Major trends in the forecast period include advanced antenna technologies and massive MIMO (Multiple Input, Multiple Output), 5G Coexistence and migration, voice and multimedia evolution, artificial intelligence and automation integration, network slicing refinement.

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Segmentation & Regional Insights

The long term evolution (LTE) market covered in this report is segmented –

1) By Device Type: Smartphones, Tablets, Vehicles, Wearables, Gaming Consoles, Other Device Types

2) By Technology: Long Term Evolution – Time Division Duplex, Long Term Evolution Advanced, Long Term Evolution – Frequency Division Duplex

3) By Application: Video On Demand, Voice Over Long-Term Evolution, High Speed Data Services, Defense And Security, Other Applications

4) By End Users: Oil And Gas, Mining, Transportation, Manufacturing, Telecommunications And Information technology (IT), Enterprise, Consumer, Other End Users

North America was the largest region in the long term evolution market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the long term evolution (LTE) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth

The increased demand for high data usage is expected to propel the growth of the long-term evolution (LTE) market going forward. Data usage refers to the lawful handling, processing, and use of data for intended purposes, including data analysis, reporting, decision-making, research, and other applications. Data usage is on the rise because of increased demand for streaming services, online gaming, social media, messaging, and remote work and learning. Long-term evolution (LTE) offers significantly higher data speeds compared to previous generations of mobile communication technologies like 3G. LTE networks can manage higher levels of data traffic, allowing more users to connect concurrently without encountering major slowdowns or congestion. For instance, in February 2023, according to Meltwater, a UK-based media monitoring company, the total number of internet users in the UK was 66.11 million, indicates that internet users in the UK increased by 224 thousand (+0.3%) between 2022 and 2023. Therefore, the increased demand for high data usage is driving the growth of the long-term evolution (LTE) market.

Key Industry Players

Major companies operating in the long term evolution (LTE) market are Samsung Electronics Co. Ltd., Microsoft Corporation, China Mobile Communications Corporation, Verizon Communication Inc., American Telephone and Telegraph Company Incorporated (AT&T), Deutsche Telekom AG, Huawei Technologies Co. Ltd., T-Mobile US Inc., LG Uplus Corp., Vodafone Inc., NTT DoCoMo Inc., Cisco Systems Inc., Qualcomm Incorporated, Telefónica S.A., Broadcom Corporation, Telefonaktiebolaget LM Ericsson, KT Corporation, ZTE Corporation, Bharti Airtel Limited, SK Telecom Co. Ltd., Nokia Solutions and Networks Oy, Juniper Networks Inc., Alcatel-Lucent S.A., MetroPCS Communications Inc.

The long term evolution (lte) market report table of contents includes:8