Lte Advanced 5g Market 2019 by Professional Survey, Opportunities & Forecast
Posted by Pradnya on March 16th, 2020
LTE advanced and 5G technology is playing a vital role in supporting policy makers and governments to transform cities into smart cities, and allowing communities and citizens to recognize and contribute to socioeconomic benefits delivered by a data-intensive and digital economy. Heavy investments by government and public organizations around the globe for the advancement of telecommunication infrastructure is one of the key factors driving the growth of the LTE advanced and 5G market. Furthermore, a significant increase in the number of smartphone users and smartphone-driven businesses around the world is encouraging consumers to adopt LTE advanced and 5G-enabled services to gain benefits from new areas of wireless technology. Also, substantial adoption of IoT- and cloud-based solutions is creating potential growth opportunities for the LTE advanced and 5G market.
In line with this, the global LTE advanced and 5G market was valued at US$ 9.5 Bn in 2018 and is projected to expand at a CAGR of 36% over the forecast period (2019-2029).
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Key Takeaways of LTE Advanced and 5G Market Study
“As the LTE advanced and 5G market is constantly becoming diverse and competitive, rising expansion of the digital ecosystem in and around the telecom sector is generating immense openings for governments and businesses to deploy LTE advanced and 5G services and solutions, and benefit from emerging use cases,” says a PMR analyst.
Partnerships and Business Alliances Key to Market Growth
Key players in the LTE advanced and 5G market are continuously focusing on entering into partnerships with telecom service providers of countries around the globe to foster new innovations and revenue growth. These partnerships and collaborations are helping businesses and industries reach new growth avenues by unlocking emerging use cases generated through LTE advanced and 5G.
Some of the key players in the LTE advanced and 5G market are Ericsson, Huawei Technologies Co., Ltd., Nokia, ZTE Corporation, Samsung Electronics Co., Ltd., and Qualcomm Technologies, Inc.
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More Valuable Insights on LTE Advanced and 5G Market
PMR, in its new offering, offers an unbiased analysis of the global LTE advanced and 5G market, analyzing historical demand from 2014-2018 and forecast statistics for 2019-2029. The study unravels growth projections of the LTE advanced and 5G market on the basis of technology (LTE advanced/advanced pro and 5G), component (network equipment and services), and deployment area (residential, commercial, industrial, and government), across seven major regions.
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Joined: February 3rd, 2017
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