LTE Advanced Pro Market Size
Global LTE Advanced Pro Market to surpass USD 1036.9 billion by 2031 from USD 0.3 billion in 2021 at a CAGR of 121.3% in the coming years, i.e., 2021-2031
Long Term Evolution Advanced (LTE Advanced) is a mobile communication standard that is a considerable upgrade to the Long Term Evolution (LTE) standard. It was formally submitted to ITU-T as a candidate 4G in late 2009, matching the needs of the IMT-Advanced standard, and was standardized as 3GPP Release 10 by the 3rd Generation Partnership Project (3GPP) in March 2011. LTE Advanced Pro (3GPP Release 13+) is bringing LTE to new industries and enabling new use cases outside of smartphones, such as automotive and IoT. It is a comprehensive list of technologies that will be submitted alongside 5G NR in order to meet IMT-2020 standards.
Market Highlights
Global LTE Advanced Pro Market is projected to witness a notable CAGR of 121.3% by 2031
Global LTE Advanced Pro Market to surpass USD 1036.9 billion by 2031 from USD 0.3 billion in 2021 at a CAGR of 121.3% in the coming years, i.e., 2021-2031. The increasing need for higher network coverage, lower latency, and better connection are just a few of the market's primary drivers. Furthermore, the rising mobile data traffic worldwide as a result of the high adoption of smartphones is one of the few factors driving the market's high CAGR throughout the projection period.
Global LTE Advanced Pro Market: Segments
Small Cell segment is predicted to lead the market during 2021-31
On the basis of Communication Infrastructure, the LTE Advanced Pro Market is segmented into Small Cell, Macro Cell, RAN (Radio Access Network) Equipment, and DAS (Distributed Antenna System). Small cells are predicted to have the biggest market share in the near future. The growing number of structures in cities has obstructed telecom signals, resulting in poor service quality and a negative customer experience. A huge amount of data is expected to be transmitted between devices. As a result, little cells play a critical role in controlling vast amounts of data.
Urban Area segment is expected to grow with the highest CAGR over the forecast period
On the basis of End Use Application, the LTE Advanced Pro Market is divided into Rural Areas, Urban Areas, Highways, Public Spaces, Residential Areas, SME’s, Large Enterprises, Others. In previous years, the Urban Areas sector had the highest proportion of the LTE Advanced Pro market. A primary driver for market expansion in urban regions is the need for increased network capacity and coverage in areas like subways, city centre zones, and stadiums, which are always crowded with a huge number of inhabitants.
Market Dynamics
Drivers
Improved efficiency with added functionality is one of the major boosting factors
The primary reason driving the long term evolution (LTE) advanced pro market growth rate during the projected period of 2021 to 2028 is the enhanced efficiency with additional functionality connected with the LTE advanced pro. The expansion of the long term evolution (LTE) advanced pro market is also fueled by the growing demand for improved decreased latency, network coverage, and optimal connectivity. In addition, the LTE advanced pro provides better bit rates at a lower cost, which has a beneficial impact on market growth.
Growing demand for better network coverage
The increased demand for improved network coverage, as well as the widespread use of new technologies and developments by many organizations, is propelling the long-term evolution (LTE) advanced pro market.
Restraint
High cost associated with the LTE Advanced Pro
In the anticipated time, technical ambiguity in air interface waveform technologies is serving as a major stumbling block to the emergence of long term evolution (LTE) advanced pro.
Global LTE Advanced Pro Market:
Key Players
- LM Ericsson
- Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
- Qualcomm Technologies
- Samsung
- ZTE Corporation
- Intel Corporation
- Cavium
- Huawei Technologies Co. Ltd.
- Cisco Systems, Inc.
- Ciena Corporation
- NEC Technologies India Private Ltd
- Other Prominent Players
Global LTE Advanced Pro Market: Regions
Global LTE Advanced Pro Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. Due to the strong adoption and execution of LTE advanced pro services and applications in this region, North America leads the long-term evolution (LTE) advanced pro market. Due to the increasing adoption of new technologies and development by companies across numerous industries in the region, Asia-Pacific is predicted to grow at a substantial rate.
Impact of COVID-19 on LTE Advanced Pro Market
COVID-19 has caused widespread fear and hardship among individuals and businesses around the world. Most businesses have business continuity plans in place, but they aren't fully functional. Due to the global movement to remote work, the ongoing issue necessitates improved telecommunications and networking infrastructure. Telecommunication companies face increased infrastructure and security threats as a result of this. The worldwide supply chain has been harmed as network equipment manufacturing and delivery will be delayed. Furthermore, initiatives to implement 5G networks would be further delayed.
Global LTE Advanced Pro Market is further segmented by region into:
- North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – the United States and Canada
- Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, and Rest of Latin America
- Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, and Rest of Europe
- Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, and Rest of Asia Pacific
- The Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, South Africa and Rest of Middle East and Africa
Global LTE Advanced Pro Market report also contains an analysis on:
LTE Advanced Pro Market Segments:
- By Communication Infrastructure
- Small Cell
- Macro Cell
- RAN (Radio Access Network) Equipment
- DAS (Distributed Antenna System)
- By Core Network Technology
- Software-Defined Networking (SDN)
- Network Functions Virtualization (NFV)
- By End-Use Application
- Rural Areas
- Urban Areas
- Highways
- Public Spaces
- Residential Areas
- SME’s
- Large Enterprises
- Others
- LTE Advanced Pro Market Dynamics
- LTE Advanced Pro Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies Involved in the Market
- Value Chain of the Market
- Market Drivers and Restraints
LTE Advanced Pro Market Report Scope and Segmentation
|
Report Attribute |
Details |
|
Market size value in 2021 |
USD 0.3 billion |
|
Revenue forecast in 2031 |
USD 1036.9 billion |
|
Growth Rate |
CAGR of 121.3% from 2021 to 2031 |
|
Base year for estimation |
2020 |
|
Quantitative units |
Revenue in USD million and CAGR from 2021 to 2031 |
|
Report coverage |
Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
|
Segments covered |
Communication Infrastructure, Core Network Technology, End Use Application, and Region |
|
Regional scope |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA) |
|
Key companies profiled |
LM Ericsson, Qualcomm Technologies, Samsung, ZTE Corporation, Intel Corporation, Cavium, Huawei Technologies Co. Ltd., Cisco Systems, Inc., Ciena Corporation, and NEC Technologies India Private Ltd. |
Frequently Asked Questions (FAQ):
LTE Advanced Pro Market size was estimated at USD 0.3 billion in 2021 and is expected to reach USD 1036.9 billion in 2031
LTE Advanced Pro is the name for the 3GPP release and is also called 4.5G, 4.5G pro, and Pre-5G. It is the modern technology of LTE networks as it aims to provide higher bitrates and peak data rates such as download speed up to 3Gbps & upload speed up to 1.5Gbps
The Small Cell segment accounted for the largest LTE Advanced Pro Market share
Key players in the LTE Advanced Pro Market include LM Ericsson, Qualcomm Technologies, Samsung, ZTE Corporation, Intel Corporation, Cavium, Huawei Technologies Co. Ltd., Cisco Systems, Inc., Ciena Corporation, and NEC Technologies India Private Ltd.
The major driving factors for the growth of the LTE Advanced pro market are rising demand for better network coverage, optimized connectivity and reduced latency
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