NEWARK, DE / ACCESSWIRE / October 25, 2022 / The global LTE and 5G market is expected to demonstrate significant growth by registering a robust CAGR of 10.9% from 2022-2032. The swift adoption of 5G and LTE networks enables consumers to capitalize on a wide range of facilities including internet, multimedia, voice conversations over Internet Protocol (VOIP), video telephone, and mobile TV. As a result of this, these networks cater to a lot of industries that offer many lucrative opportunities in the target market. Valued at US$ 640 Mn in 2021, the LTE and 5G market is projected to expand strongly over the forecast period.

Benefits like higher upload and download rates, shorter reaction time, improved safety with layered data encryption, and superior coverage in comparison to 4G will drive the prospects of the 5G network. This network's overall speed, reliability, and user-friendly roaming abilities are projected to cause mass adoption of the technology in the near future.

The increasing focus on the development of smart cities in emerging economies in the Asia Pacific will further aid the escalating adoption of LTE & 5G in the next few years. Favorable government initiatives like that of the Indian government which announced in July 2019 to invest US$1.2 Bn in the development of smart cities across the country. Similarly, this initiative is also set to bring in almost US$ 1.9 Bn in the form of investments by different private organizations. Developments and investments like this are likely to present notable revenue opportunities to LTE & 5G providers.

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In addition to this, industry verticals varying from oil & gas to manufacturing and utility to mining are increasing their investments in the technology sector to accelerate industrial processes that require greater bandwidth. Along these lines, the rising adoption of private LTE & 5G is also expected to vitalize the market of LTE and 5G during the projected period.

"Greater benefits associated with LTE and 5G networks along with growing demand from multiple industry verticals will spearhead the global growth of the LTE and 5G market over the forecast period," says an FMI analyst.

Key Takeaways:

• A lack of compatible gadgets may hamper the market growth.

• Popularity of smart devices and a growing focus on the development of smart cities facilitates the target market growth during the assessment period.

• North America and the Asia Pacific will dominate the global LTE and 5G market space.

• Heightened investments in the target market by diverse businesses will propel the market in North America.

• Rising expenditure in the development of network infrastructure will drive the target market in Europe.

• Western Europe will hold several profitable prospects for the LTE and 5G market.

Competitive Landscape

KT, Verizon Wireless, China Unicom, Telstra, Reliance (Jio), Qualcomm, Samsung Electronics, Huawei, Cisco, Nokia Solutions and Networks, AT&T INC., Motorola Solutions Inc., NTT DOCOMO Inc., Alcatel-Lucent, Ericsson, and ZTE, among others are some of the major players in the LTE and 5G Market profiled in the full version of the report.

Leading market players are focusing on enhancing their services and increasing investment in product development. These businesses are preparing for massive deployment in the upcoming years.

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More Insights into LTE and 5G Market Report

In its latest report, FMI offers an unbiased analysis of the global LTE and 5G Market, providing historical data from 2015 to 2020 and forecast statistics for 2022 to 2032. To understand the global market potential, growth, and scope, the market is segmented on the basis of the spectrum (long-term evolution frequency division duplex (FDD LTE), long-term evolution time division multiplex (TDD LTE)), release (rel 8, rel 9, rel 10, rel 11, rel 12, rel 13), and region.

Based on region, the target markets in North America and the Asia Pacific are anticipated to grow exponentially well during 2022-2032. Escalating spending on technology coupled with favorable government initiatives will bolster the market growth in North and Latin America and the Asia Pacific region. Western Europe market, particularly countries like France, the U.K., and Germany, will likely remain a very lucrative market for LTE and 5G networks. Increased expenditure on the development of network infrastructure along with high investment by key players will push the growth of the target market in Europe during the forecast period.

Key Segment

By Spectrum:

• Long-term Evolution Frequency Division Duplex (FDD LTE)

• Long-term Evolution Time Division Multiplex (TDD LTE)

By Release:

• Rel 8

• Rel 9

• Rel 10

• Rel 11

• Rel 12

• Rel 13

By Region:

• North America

• Latin America

• Europe

• Asia Pacific

• Japan

• Middle East and Africa

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Table of Content

1. Executive Summary

1.1. Global Market Outlook

1.2. Demand-side Trends

1.3. Supply-side Trends

1.4. Technology Roadmap Analysis

1.5. Analysis and Recommendations

2. Market Overview

2.1. Market Coverage / Taxonomy

2.2. Market Definition / Scope / Limitations

3. Market Background

3.1. Market Dynamics

3.1.1. Drivers

3.1.2. Restraints

3.1.3. Opportunity

3.1.4. Trends

3.2. Scenario Forecast

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