The LTE and LTE advance market size is predicted to expand at an outstanding 32.3% CAGR during the forecast period. The industry’s revenue stands at USD 23,376.6 million in 2024 and is projected to surpass USD 383,178.6 million by 2034.
Consumption of data across the world is increasing at a faster rate due to stretching demand of data demanding applications and services. Consumers are utilizing services that demand significant bandwidth including downloading movies in high definition, attending video conferences, online gaming, and cloud storage.
The increase in data usage creates pressure on mobile networks to grow and develop LTE networks in order to support these demands. Telecom operators are constantly expanding and enhancing their LTE network capabilities to cope with the increasing data demands from users, which in turn fuels the industry’s evolution.
LTE and LTE Advance Market Size and Forecast
| Attributes | Description |
|---|---|
| Estimated Global LTE and LTE Advance Market Size (2024E) | USD 23,376.6 million |
| Projected Global LTE and LTE Advance Market Value (2034F) | USD 383,178.6 million |
| Value-based CAGR (2024 to 2034) | 32.3% |
The popularity of smartphones and other mobile devices is one of the key factors that contribute to the LTE and LTE advance market growth. As the devices continue to become more affordable, almost everyone in the world including those in the developing world are enjoying the privilege of using internet gadgets.
The advanced features of today’s smartphones and the applications they support need strong data connections. Hence, the need for LTE networks to support the speed that people need. Services such as video streaming, social media, online gaming, and working from home require reliable and fast data services.
LTE-A solutions for specific applications (e.g., IoT, mobile broadband) are emerging. Hence, the industry expands to support the growing connected users.
Mobile data usage trends indicate that as of 2023, the United States and Canada have the leading smartphone penetration rate in North America at 84% of the overall global mobile connections.
The smartphone user penetration is forecasted to increase up to 89% in North America by the year 2030 but there is a possibility of more growth in Eurasia and Asia Pacific regions.
Talking about the LTE-A vs. 5G market share, 5G will radically transform mobile communication, LTE and LTE advanced perform an important function during the transition phase.
Some of the initial 5G spectrum rollouts are non-standalone and integrate with LTE to support basic services. This enables operators and users to carry on with investment in LTE networks at the same time as planning for the 5G rollout.
Indeed, the evolution of LTE is ongoing, meaning improvements to the basic performance and capacity of the system are continually finding their way into its architecture. This synergy between LTE and 5G benefits the industry by using the existing investments and infrastructure to popularize the transition from older networks to new and improved ones.
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This table presents a numerical comparison of the LTE and LTE advance market growth and trends. For a thorough analysis of the industry’s anticipated growth, the CAGR has been analyzed in semi-annual intervals. This includes a comparison for the historical analysis period of 2023 to 2033 and the forecast period of 2024 to 2034.
| Particular | Value CAGR |
|---|---|
| H1 | 29.6% (2023 to 2033) |
| H2 | 30.2% (2023 to 2033) |
| H1 | 29.8% (2024 to 2034) |
| H2 | 30.4% (2024 to 2034) |
Industry’s expansion accelerated at a CAGR of 29.6% in the first half (H1) of the 2023 and 2033 period and then increased slightly to 30.2% in the second half (H2) of the same period. Throughout the projection period, which runs from H1 2024 to H2 2034, the CAGR is forecasted to initially reduce to 29.8% before finally climbing to 30.4% in the second half.
Proliferation of IoT Device Catapults Growth of the Industry
Consumer demand initiates primarily comes from the constantly growing number of Internet of Things devices or IoT. Smart homes, wearable devices, industrial IoT, and smart city applications, all of them need to have reliable and broad connectivity.
LTE-M (LTE for Machines) and NB-IoT (Narrowband IoT) are the variants of LTE developed specifically for IoT applications which include some features such as low power consumption and greater range. These technologies enable generic IoT applications by fulfilling necessary bandwidth needs, reliability, and satisfying efficiency.
With the increasing popularity of smart devices, there is a need to have latency improvements in LTE-A to support various IoT applications. This trend empowers players to innovate and expands the industry further.
Economic Growth and Digital Transformation in Emerging Countries Bolsters Industry Development
The increased economic growth, especially in the developing countries, is driving the uptake of advanced mobile technology. When economies grow, so does the need for information and communication technology.
Organizations and public authorities are committed to investing in digital transformation projects to optimize productivity, creativity, and opportunities. This transformation heavily relies on reliable mobile networks and hence LTE and LTE Advanced form an important foundation.
LTE deployment also fosters many industries such as financial, health, education, and transport through the provision of supportive infrastructure for digital solutions. The progression of economic systems and the process of their digitalization will continue to stimulate global LTE subscribers’ rates. This will contribute to the LTE and LTE advance market development further.
Network Slicing Gains More Prominence in the Industry
Network slicing is another innovative aspect of carrier aggregation in LTE-A, offering the possibility of having multiple virtual networks for operators over a single physical infrastructure.
Individual slices can be specified to fulfill certain needs for various use cases like ultra-reliable low-latency communications, high data rate access, and IoT connectivity. For instance, a network slice could be exclusive to emergency services to guarantee high priority and data reliability in emergencies. While another slice could be provided for high-definition (HD) video streaming.
This capability can lead to greater utilization of network resources. It can lead to more targeted services to client categories and the promotion of LTE and LTE Advanced deployment through the implementation of easily adaptable and extendable network architectures. Greater awareness of this element is likely to bolster the industry’s growth in the coming years.
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The demand for LTE and LTE Advance rose at a 30.1% CAGR between 2019 and 2023. The industry generated revenue amounting to USD 6,251.3 million in 2019 and surpassed USD 17,887.7 million in 2023.
There have been recent enhancements in the LTE and LTE Advanced technologies such as efficiency enhancement, carrier aggregation, and MIMO technology. These advancements have improved the efficiency, coverage, and robustness of LTE networks to make them suitable for increased user traffic and support more applications.
Various governmental bodies in different countries have used policies and legislation that promote LTE network deployment and expansion. These include releasing spectrum for LTE, offering subsidies for network rollout, and encouraging healthy competition within the telecom industry.
Friendly regulations have also ensured more establishment of LTE networks and guarantee the accessibility of high-speed internet services to more people.
Telecom operators have also been expanding their infrastructure with LTE and LTE Advanced technologies to maintain competitiveness as well as address the needs of their consumers. Such investments entail getting new spectrum licenses, increasing the capacity of existing networks, and adopting new technologies in the networks.
Pervasive investment in the advanced LTE networks has been one of the most important factors for the LTE and LTE advance market growth.
The future of the industry seems bright at a 32.3% CAGR until 2034. Continuity of the push toward closing the digital gap and making high-speed internet available for the rural and other unserved regions would continue. Governments and telecom operators are expected to further 4G network infrastructure investment to expand network connectivity to these areas.
Dependability, ease of deployment, and providing wide-ranging coverage make LTE suitable for deployment in rural areas. Thus, the expansion of LTE networks in these regions will not only contribute to the growth of this industry but also positively impact social and economic progress.
Tier 1 companies include the top leaders in the LTE and LTE advance market, capturing around 66% of global industry shares. Qualcomm, Ericsson, Huawei, Nokia, Samsung, Intel, ZTE, and Cisco Systems are among the Tier 1 companies.
These brands make significant investments in research and development to drive innovation and improve existing technologies. They focus on acquiring smaller companies and startups to enhance technological capabilities and expand reach.
Tier 2 companies include the mid-level participants, capturing around 18% of the global industry shares. Alcatel-Lucent (Now part of Nokia), LG Electronics, NEC Corporation, Fujitsu, Broadcom, MediaTek, CommScope, and Ciena fall under this category.
These businesses focus on offering customized solutions to meet the unique needs of enterprise customers. Their emphasis is on scaling up manufacturing and distribution capabilities to meet growing demand.
The Tier 3 companies include the emerging and the lower tier companies, acquiring around 16% of the global industry shares. Aviat Networks, Mavenir, Airspan Networks, Radisys, Ceragon Networks, Inseego, Telrad Networks, and SpiderCloud Wireless fall under this tier. The businesses thrive by innovating in niche areas that may be underserved by larger companies.
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This section gives insights into the LTE and LTE Advance market forecast in top countries and the regional growth patterns. Information on regions like North America, Europe, Asia Pacific, and others has been granulated, focusing on the top countries. Australia is expected to be at the forefront, expanding at a 35.8% CAGR until 2034.
China follows next, expanding at a 32.8% CAGR until 2034. Lastly, the United States is also on the list, expanding at a 29.1% CAGR until 2034. This data indicates that the Asia Pacific region is likely to make remarkable progress in the coming years.
| Countries | Value CAGR (2024 to 2034) |
|---|---|
| Australia | 35.8% |
| China | 32.8% |
| United States | 29.1% |
The demand for LTE and LTE advanced in Australia is set to proliferate at a 35.8% CAGR until 2034. Because of its large and empty landscape, Australia remains a complicated environment for LTE network infrastructure deployment. Therefore, LTE and LTE Advanced are competitive to meet the requirements of offering wide coverage and reliable connection in remote and regional zones.
Use cases for LTE-A in rural areas are rising. Telecom operators are deploying LTE infrastructure to solve these problems and make sure that internet services of high speed across the country are available for businesses and consumers. The influx of investments is therefore boosting the industry’s growth in Australia.
The adoption of LTE and LTE Advanced technologies in China is expected to surge at a 32.8% CAGR till 2034. LTE and telecommunication infrastructure are considered as security imperatives and technological sovereignty in China.
The government has encouraged investment in indigenous technologies and urged for cutting down on external suppliers. This emphasis has increased investment in domestic LTE equipment providers including Huawei and ZTE. This strategic emphasis on technological autonomy is an important determinant of the expansion of industry as domestic firms increase their share and exports.
The LTE and LTE advance market growth in the United States is estimated at a 29.1% CAGR until 2034. The industry is driven by the high consumer need for multimedia consumption like 4K video streaming, and AR/VR. This demand requires the role of LTE in IoT applications that would offer high throughput and low latency.
Carriers are keen on incorporating LTE Advanced technologies to meet consumers’ demands and foster industry growth. The American telecom sector is a rather saturated one, with numerous competitors ranging from Verizon to AT&T and T-Mobile. This competition fosters everlasting capital investment in network infrastructural development and technologies.
Mobile operators are using LTE Advanced Pro features including carrier aggregation, massive MIMO, and 256-QAM as value propositions for customers, thus driving the industry’s growth.
This section takes a closer look at the LTE and LTE advance market segmentation by type and application. Based on type, the evolved packet core (EPC) segment is leading with 27.3% of industry shares captured in 2024. Based on application, the smartphones segment dominates with 36% of industry shares garnered in 2024.
| Segment | Evolved Packet Core (Type) |
|---|---|
| Value Share (2024) | 27.3% |
EPC has the required framework for fast data transmission with minimal delays. It can support data packet switching and routing, optimize multimedia data transmission, real-time information exchange, and other bandwidth-intensive services like video conferencing and online game playing.
Due to the increasing utilization of these services, operators use EPC to enhance the efficiency of the networks for end users. This tendency therefore helps EPC dominate in the industry.
| Segment | Smartphones (Application) |
|---|---|
| Value Share (2024) | 36% |
The costs of smartphones have gone down over the years, which means that more consumers can now afford a smartphone. The widespread offering of LTE-supporting smartphones at various price tiers implies that consumers can select the equipment necessary for them in terms of price and functionality.
By making the equipment more affordable with reasonable data tariffs from operators, more consumers are inclined to make the upgrade to LTE-enabled device. This switch thereby drives the growth of the industry.
The LTE and LTE advance market has immense competitive pressure with key players like Huawei, Ericsson, and Nokia, and semiconductor technology from Qualcomm. These companies compete for leadership in the industry through their advancements in the performance of the networks, their ability to scale up and integrate with up-and-coming 5G technologies.
Similarly, key telecom operators such as Verizon, AT&T, and China Mobile are also involved with their significant parts in coverage dimensions, service differentiation, and relative regulatory compliance.
Based on type, the industry is segmented into infrastructure, end-user device, evolved packet core (EPC), user equipment (UE), and evolved UMTS terrestrial radio access network (E-UTRAN).
In terms of application, the sector is classified into smartphones, USB modems, notebooks, tablets, routers, and card modules.
Analysis of the industry has been conducted in the countries of North America, Latin America, Europe, East Asia, South Asia & Pacific, and the Middle East & Africa (MEA).
Industry is set to reach USD 23,376.6 million in 2024.
The industry is expected to reach USD 383,178.6 million by 2034.
Industry is set to report a CAGR of 32.3% from 2024 to 2034.
Evolved packet core (EPC) lead the industry, with 27.3% of industry shares captured in 2024.
The demand in Australia is expected to advance at a CAGR of 35.8% through 2034.
1. Executive Summary
2. Industry Introduction, including Taxonomy and Market Definition
3. Market Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments
4. Global Market Demand Analysis 2019 to 2023 and Forecast 2024 to 2034, including Historical Analysis and Future Projections
5. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034
5.1. Component
5.2. Technology
5.3. End Use
6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Component
6.1. Hardware
6.1.1. LTE Base Stations
6.1.2. Outdoor CPE Devices
6.1.3. Indoor CPE Devices
6.1.4. Dongles/Wingles
6.1.5. SIM Cards
6.2. LTE Evolved Packet Core (EPC) Platform
6.3. Services
6.3.1. Professional Services
6.3.1.1. System Integration
6.3.1.2. Installation & Implementation
6.3.1.3. Consulting
6.3.2. Managed Services
7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Technology
7.1. Frequency Division (FD) LTE
7.2. Time Division (TD) LTE
7.3. LTE MIMO
7.4. Carrier Aggregation
8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By End Use
8.1. Residential
8.2. Commercial
8.2.1. Education Campuses
8.2.2. Hospitals
8.2.3. Hotels
8.2.4. Retail Complexes
8.3. Industrial
8.3.1. Energy & Utilities
8.3.2. Transportation (Rail/Air/Sea)
8.3.3. Factories/Plants
8.4. Government
8.4.1. Military Base
8.4.2. Government Establishments
9. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region
9.1. North America
9.2. Latin America
9.3. Western Europe
9.4. South Asia
9.5. East Asia
9.6. Eastern Europe
9.7. Middle East & Africa
10. North America Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
11. Latin America Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
12. Western Europe Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
13. South Asia Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
14. East Asia Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
15. Eastern Europe Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
16. Middle East & Africa Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
17. Sales Forecast 2024 to 2034 by Component, Technology, and End Use for 30 Countries
18. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard
19. Company Profile
19.1. Huawei Technologies Co., Ltd
19.2. Digi International Inc.
19.3. Airspan
19.4. Nokia
19.5. Wireless Excellence Ltd. (CableFree)
19.6. Ericsson
19.7. CommScope
19.8. Samsung
19.9. ZTE Corporation
19.10. China Unicom
19.11. Cisco Systems, Inc.
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LTE and LTE Advance Market
