In the current year, 2023, the total revenue generated by the LTE and 5G business is poised to be around US$ 774.8 million. The global adoption of LTE and 5G services is projected to record a CAGR of 10.8% from 2023 to 2033. Furthermore, FMI forecasts the overall valuation for the global market could reach up to US$ 2,167.1 million by the end of this forecast period.
Adoption of 5G and LTE networks allows consumers to take advantage of a variety of amenities such as internet services, multimedia services, voice conversations over Internet Protocol (VOIP), video telephony, and mobile TV, thereby serving a variety of industries, providing lucrative opportunities in the LTE and 5G market.
Higher upload and download rates, lower reaction time, enhanced safety with layered data encryption, and greater coverage are all advantages of 5G over 4G.
5G's overall speed, dependability, and user-friendly roaming capabilities are expected to drive widespread adoption of the technology.
| Report Attributes or Data Points | Details |
|---|---|
| Global LTE and 5G Market Valuation in 2022 | US$ 709.5 million |
| Estimated Global Market Share in 2023 | US$ 774.8 million |
| Forecasted Global Market Size by 2033 | US$ 2,167.1 million |
| Projected Global Market Growth Rate from 2023 to 2033 | 10.8% CAGR |
| Historical Market Growth Rate from 2018 to 2022 | 8.7% CAGR |
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Based on the FMI survey on LTE and 5G businesses around the world, its overall market value was a mere US$ 507.3 million in 2018. The global adoption of LTE and 5G services witnessed an average year-on-year growth rate of 8.7% from 2018 to 2022. The recent survey report shows that its global market valuation reached US$ 709.5 million by the end of 2022.
The most profitable factors driving demand for LTE and 5G technologies are rising smart device sales and a growing emphasis on smart cities.
Emerging economies in the Asia Pacific are focusing on developing smart cities, which is expected to impel the adoption of LTE & 5G in the years to come.
For instance, the Indian government in July 2019 announced US$ 1.2 billion to develop smart cities in the country. Likewise, the initiative is also expected to bring in nearly US$ 1.9 billion in the form of investments by private organizations.
Such developments and investments are expected to offer LTE & 5G providers substantial revenue opportunities.
On the other hand, several industries ranging from oil & gas to manufacturing and utility to mining, are upscaling their investments in technologies to expedite industrial processes that need higher bandwidth.
On these lines, the adoption of private LTE & 5G is also to invigorate the market of LTE and 5G.
| Category | By Spectrum |
|---|---|
| Top Segment | Long-term Evolution Frequency Division Duplex (FDD LTE) |
| Market Share in Percentage | 64.8% |
| Category | By Release |
|---|---|
| Top Segment | Rel 8 |
| Market Share in Percentage | 37.9% |
Principal Consultant
The Dearth of Modern Gadgets that are 5G Compatible is a Big Barrier to the Penetration of LTE and 5G Technology.
Reluctance to transition away from legacy infrastructure is projected to limit market growth. From the consumer side, although the world has mostly upgraded to 4G, there are still regions that lag on the technological front.
Most of the devices that are currently in use are not compatible with leveraging the advantages of 5G technology, and an upgrade or purchase of novel devices is expensive.
Likewise, the existing network infrastructure in the large-scale enterprise cannot support the high data rates.
As upgrading to 5G requires an investment on the consumer side, it is likely to hold back the growth of the market to a certain extent.
| Regional Market Comparison | North America |
|---|---|
| Global Market Share in Percentage | 28.7% |
| Regional Market Comparison | Europe |
|---|---|
| Global Market Share in Percentage | 22.3% |
North America and the Asia Pacific are expected to lead the race in the LTE & 5G market owing to increased spending on technologies in the region, coupled with the presence of key market players.
High expenditures by governments of emerging economies such as Mexico, India, Indonesia, and Brazil are expected to boost market growth in Latin America and the Asia Pacific.
| Regional Market Comparison | United States |
|---|---|
| Global Market Share in Percentage | 19.1% |
| Regional Market Comparison | Germany |
|---|---|
| Global Market Share in Percentage | 10.4% |
| Regional Market Comparison | Japan |
|---|---|
| Global Market Share in Percentage | 6.8% |
| Regional Market Comparison | Australia |
|---|---|
| Global Market Share in Percentage | 3.2% |
Likewise, Western European countries such as Germany, France, and the United Kingdom are also expected to remain prominent regional markets for the LTE & 5G market.
The growth of the European region is attributed to high spending by enterprises on network infrastructure developments coupled with growing expenditure by players on research.
| Regional Markets | United Kingdom |
|---|---|
| CAGR (2023 to 2033) | 10.2% |
| Regional Markets | China |
|---|---|
| CAGR (2023 to 2033) | 12.9% |
| Regional Markets | India |
|---|---|
| CAGR (2023 to 2033) | 11.3% |
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As a result of the pandemic, market players are utilizing the time to prepare for the massive deployment in the years to come. Moreover, players continue to invest significantly to enhance their services.
On these lines, in 2017 and 2018, Huawei Technologies, a private LTE & 5G network ecosystem, invested nearly US$ 1.4 billion in 5G product development.
KT, Verizon Wireless, China Unicom, Telstra, Reliance (Jio), Qualcomm, Samsung Electronics, Huawei, Cisco, and ZTE are other companies leading the market.
Recent Developments by the LTE and 5G Service Providers
Samsung developed the first 5G smartphone in 2020 and launched it in March that year. This was a leading breakthrough in the development of 5G smartphones, later followed by many technology companies worldwide.
May 2021 saw the official standardization of 5G by the International Telecommunication Union (ITU), demonstrating a turning point in the evolution of 5G technology.
| Attributes | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Market Analysis | US$ million or US$ billion for Value |
| By Spectrum |
|
| By Release |
|
| By Region |
|
| Key Players |
|
The global market size may achieve US$ 2,167.1 million by 2033.
In 2023, the market is expected to be around US$ 774.8 million.
From 2018 to 2022, the global market advanced at a CAGR of 8.7%.
China’s industry is predicted to exhibit a CAGR of 12.9% in 2023.
Rel 8 segment is going to possess a significant market share of 37.9%.
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
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Investment Feasibility Matrix
3.5. PESTLE and Porter’s Analysis
3.6. Regulatory Landscape
3.6.1. By Key Regions
3.6.2. By Key Countries
3.7. Regional Parent Market Outlook
4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033
4.1. Historical Market Size Value (US$ Million) Analysis, 2018 to 2022
4.2. Current and Future Market Size Value (US$ Million) Projections, 2023 to 2033
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Spectrum
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Million) Analysis By Spectrum, 2018 to 2022
5.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Spectrum, 2023 to 2033
5.3.1. Long-term Evolution Frequency Division Duplex (FDD LTE)
5.3.2. Long-term Evolution Time Division Multiplex (TDD LTE)
5.4. Y-o-Y Growth Trend Analysis By Spectrum, 2018 to 2022
5.5. Absolute $ Opportunity Analysis By Spectrum, 2023 to 2033
6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Release
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Million) Analysis By Release, 2018 to 2022
6.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Release, 2023 to 2033
6.3.1. Rel 8
6.3.2. Rel 9
6.3.3. Rel 10
6.3.4. Rel 11
6.3.5. Rel 12
6.3.6. Rel 13
6.4. Y-o-Y Growth Trend Analysis By Release, 2018 to 2022
6.5. Absolute $ Opportunity Analysis By Release, 2023 to 2033
7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region
7.1. Introduction
7.2. Historical Market Size Value (US$ Million) Analysis By Region, 2018 to 2022
7.3. Current Market Size Value (US$ Million) Analysis and Forecast By Region, 2023 to 2033
7.3.1. North America
7.3.2. Latin America
7.3.3. Western Europe
7.3.4. Eastern Europe
7.3.5. South Asia and Pacific
7.3.6. East Asia
7.3.7. Middle East and Africa
7.4. Market Attractiveness Analysis By Region
8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
8.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
8.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
8.2.1. By Country
8.2.1.1. U.S.
8.2.1.2. Canada
8.2.2. By Spectrum
8.2.3. By Release
8.3. Market Attractiveness Analysis
8.3.1. By Country
8.3.2. By Spectrum
8.3.3. By Release
8.4. Key Takeaways
9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
9.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
9.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
9.2.1. By Country
9.2.1.1. Brazil
9.2.1.2. Mexico
9.2.1.3. Rest of Latin America
9.2.2. By Spectrum
9.2.3. By Release
9.3. Market Attractiveness Analysis
9.3.1. By Country
9.3.2. By Spectrum
9.3.3. By Release
9.4. Key Takeaways
10. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
10.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
10.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
10.2.1. By Country
10.2.1.1. Germany
10.2.1.2. U.K.
10.2.1.3. France
10.2.1.4. Spain
10.2.1.5. Italy
10.2.1.6. Rest of Western Europe
10.2.2. By Spectrum
10.2.3. By Release
10.3. Market Attractiveness Analysis
10.3.1. By Country
10.3.2. By Spectrum
10.3.3. By Release
10.4. Key Takeaways
11. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
11.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
11.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
11.2.1. By Country
11.2.1.1. Poland
11.2.1.2. Russia
11.2.1.3. Czech Republic
11.2.1.4. Romania
11.2.1.5. Rest of Eastern Europe
11.2.2. By Spectrum
11.2.3. By Release
11.3. Market Attractiveness Analysis
11.3.1. By Country
11.3.2. By Spectrum
11.3.3. By Release
11.4. Key Takeaways
12. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
12.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
12.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
12.2.1. By Country
12.2.1.1. India
12.2.1.2. Bangladesh
12.2.1.3. Australia
12.2.1.4. New Zealand
12.2.1.5. Rest of South Asia and Pacific
12.2.2. By Spectrum
12.2.3. By Release
12.3. Market Attractiveness Analysis
12.3.1. By Country
12.3.2. By Spectrum
12.3.3. By Release
12.4. Key Takeaways
13. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
13.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
13.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
13.2.1. By Country
13.2.1.1. China
13.2.1.2. Japan
13.2.1.3. South Korea
13.2.2. By Spectrum
13.2.3. By Release
13.3. Market Attractiveness Analysis
13.3.1. By Country
13.3.2. By Spectrum
13.3.3. By Release
13.4. Key Takeaways
14. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
14.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
14.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
14.2.1. By Country
14.2.1.1. GCC Countries
14.2.1.2. South Africa
14.2.1.3. Israel
14.2.1.4. Rest of MEA
14.2.2. By Spectrum
14.2.3. By Release
14.3. Market Attractiveness Analysis
14.3.1. By Country
14.3.2. By Spectrum
14.3.3. By Release
14.4. Key Takeaways
15. Key Countries Market Analysis
15.1. U.S.
15.1.1. Pricing Analysis
15.1.2. Market Share Analysis, 2022
15.1.2.1. By Spectrum
15.1.2.2. By Release
15.2. Canada
15.2.1. Pricing Analysis
15.2.2. Market Share Analysis, 2022
15.2.2.1. By Spectrum
15.2.2.2. By Release
15.3. Brazil
15.3.1. Pricing Analysis
15.3.2. Market Share Analysis, 2022
15.3.2.1. By Spectrum
15.3.2.2. By Release
15.4. Mexico
15.4.1. Pricing Analysis
15.4.2. Market Share Analysis, 2022
15.4.2.1. By Spectrum
15.4.2.2. By Release
15.5. Germany
15.5.1. Pricing Analysis
15.5.2. Market Share Analysis, 2022
15.5.2.1. By Spectrum
15.5.2.2. By Release
15.6. U.K.
15.6.1. Pricing Analysis
15.6.2. Market Share Analysis, 2022
15.6.2.1. By Spectrum
15.6.2.2. By Release
15.7. France
15.7.1. Pricing Analysis
15.7.2. Market Share Analysis, 2022
15.7.2.1. By Spectrum
15.7.2.2. By Release
15.8. Spain
15.8.1. Pricing Analysis
15.8.2. Market Share Analysis, 2022
15.8.2.1. By Spectrum
15.8.2.2. By Release
15.9. Italy
15.9.1. Pricing Analysis
15.9.2. Market Share Analysis, 2022
15.9.2.1. By Spectrum
15.9.2.2. By Release
15.10. Poland
15.10.1. Pricing Analysis
15.10.2. Market Share Analysis, 2022
15.10.2.1. By Spectrum
15.10.2.2. By Release
15.11. Russia
15.11.1. Pricing Analysis
15.11.2. Market Share Analysis, 2022
15.11.2.1. By Spectrum
15.11.2.2. By Release
15.12. Czech Republic
15.12.1. Pricing Analysis
15.12.2. Market Share Analysis, 2022
15.12.2.1. By Spectrum
15.12.2.2. By Release
15.13. Romania
15.13.1. Pricing Analysis
15.13.2. Market Share Analysis, 2022
15.13.2.1. By Spectrum
15.13.2.2. By Release
15.14. India
15.14.1. Pricing Analysis
15.14.2. Market Share Analysis, 2022
15.14.2.1. By Spectrum
15.14.2.2. By Release
15.15. Bangladesh
15.15.1. Pricing Analysis
15.15.2. Market Share Analysis, 2022
15.15.2.1. By Spectrum
15.15.2.2. By Release
15.16. Australia
15.16.1. Pricing Analysis
15.16.2. Market Share Analysis, 2022
15.16.2.1. By Spectrum
15.16.2.2. By Release
15.17. New Zealand
15.17.1. Pricing Analysis
15.17.2. Market Share Analysis, 2022
15.17.2.1. By Spectrum
15.17.2.2. By Release
15.18. China
15.18.1. Pricing Analysis
15.18.2. Market Share Analysis, 2022
15.18.2.1. By Spectrum
15.18.2.2. By Release
15.19. Japan
15.19.1. Pricing Analysis
15.19.2. Market Share Analysis, 2022
15.19.2.1. By Spectrum
15.19.2.2. By Release
15.20. South Korea
15.20.1. Pricing Analysis
15.20.2. Market Share Analysis, 2022
15.20.2.1. By Spectrum
15.20.2.2. By Release
15.21. GCC Countries
15.21.1. Pricing Analysis
15.21.2. Market Share Analysis, 2022
15.21.2.1. By Spectrum
15.21.2.2. By Release
15.22. South Africa
15.22.1. Pricing Analysis
15.22.2. Market Share Analysis, 2022
15.22.2.1. By Spectrum
15.22.2.2. By Release
15.23. Israel
15.23.1. Pricing Analysis
15.23.2. Market Share Analysis, 2022
15.23.2.1. By Spectrum
15.23.2.2. By Release
16. Market Structure Analysis
16.1. Competition Dashboard
16.2. Competition Benchmarking
16.3. Market Share Analysis of Top Players
16.3.1. By Regional
16.3.2. By Spectrum
16.3.3. By Release
17. Competition Analysis
17.1. Competition Deep Dive
17.1.1. Alcatel-Lucent
17.1.1.1. Overview
17.1.1.2. Product Portfolio
17.1.1.3. Profitability by Market Segments
17.1.1.4. Sales Footprint
17.1.1.5. Strategy Overview
17.1.1.5.1. Marketing Strategy
17.1.2. Ericsson
17.1.2.1. Overview
17.1.2.2. Product Portfolio
17.1.2.3. Profitability by Market Segments
17.1.2.4. Sales Footprint
17.1.2.5. Strategy Overview
17.1.2.5.1. Marketing Strategy
17.1.3. Huawei Technologies
17.1.3.1. Overview
17.1.3.2. Product Portfolio
17.1.3.3. Profitability by Market Segments
17.1.3.4. Sales Footprint
17.1.3.5. Strategy Overview
17.1.3.5.1. Marketing Strategy
17.1.4. Nokia Solutions and Networks
17.1.4.1. Overview
17.1.4.2. Product Portfolio
17.1.4.3. Profitability by Market Segments
17.1.4.4. Sales Footprint
17.1.4.5. Strategy Overview
17.1.4.5.1. Marketing Strategy
17.1.5. AT&T INC.
17.1.5.1. Overview
17.1.5.2. Product Portfolio
17.1.5.3. Profitability by Market Segments
17.1.5.4. Sales Footprint
17.1.5.5. Strategy Overview
17.1.5.5.1. Marketing Strategy
17.1.6. Motorola Solutions Inc.
17.1.6.1. Overview
17.1.6.2. Product Portfolio
17.1.6.3. Profitability by Market Segments
17.1.6.4. Sales Footprint
17.1.6.5. Strategy Overview
17.1.6.5.1. Marketing Strategy
17.1.7. NTT DOCOMO Inc.
17.1.7.1. Overview
17.1.7.2. Product Portfolio
17.1.7.3. Profitability by Market Segments
17.1.7.4. Sales Footprint
17.1.7.5. Strategy Overview
17.1.7.5.1. Marketing Strategy
17.1.8. Samsung Electronics Co. Ltd.
17.1.8.1. Overview
17.1.8.2. Product Portfolio
17.1.8.3. Profitability by Market Segments
17.1.8.4. Sales Footprint
17.1.8.5. Strategy Overview
17.1.8.5.1. Marketing Strategy
17.1.9. China Mobile
17.1.9.1. Overview
17.1.9.2. Product Portfolio
17.1.9.3. Profitability by Market Segments
17.1.9.4. Sales Footprint
17.1.9.5. Strategy Overview
17.1.9.5.1. Marketing Strategy
17.1.10. Verizon Communications
17.1.10.1. Overview
17.1.10.2. Product Portfolio
17.1.10.3. Profitability by Market Segments
17.1.10.4. Sales Footprint
17.1.10.5. Strategy Overview
17.1.10.5.1. Marketing Strategy
18. Assumptions & Acronyms Used
19. Research Methodology
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LTE and 5G Market
