Long-Term Evolution (LTE) Market Forecasts from 2023 to 2028

The global long-term evolution (LTE) market is evaluated at US$34.216 billion for the year 2021 growing at a CAGR of 28.14% reaching the market size of US$194.126 billion by the year 2028.

The increasing digitalization across the globe is increasing the need for data. Telecommunication companies are making huge investments in new and wireless technologies that prove to be a better payoff in the projected period. The Long-Term Evolution (LTE) networks provide higher data rates and an increased spectral efficiency. As the data rates increase it allows the use of uploading and downloading data comparatively faster.

Major growth drivers for the LTE market

Increased demand for LTE networks is driven by the increased demand for high data usage and is one of the major reasons for the global long-term evolution (LTE) market growth. The increased mobile phone penetration coupled with the higher demand to download and upload things faster for the internet, especially among the millennials and Gen Z has increased the market demand for faster and better internet connectivity which in turn is growing the global long-term evolution (LTE) market. Moreover, the increased demand for uninterrupted audio and video streaming without any obstacles coupled with the experience it provides to the user while live streaming the videos is boosting the global long-term evolution (LTE) market growth.

Increased data usage

According to Cisco Systems, Inc., the number of internet users, mobile users, and network-connected devices/ connections is increasing rapidly in the Asia Pacific region. The number of internet users increased from 2.1 billion in 2018 to 3.1 billion in 2023. Similarly, mobile users increased from 2.7 billion in 2018 to 3.1 billion in 2023, likewise, network devices/connections increased from 8.6 billion in 2018 to 13.5 billion in 2023. The increased penetration of the Internet in various developing countries such as China, Japan, and India is propelling the global long-term evolution (LTE) industry.

The North American long-term evolution (LTE) is projected to propel

The bolstering growth for long-term evolution (LTE) is fueled by its high data transfer speeds, improved network efficiency, and widespread adoption in both consumer and industrial applications. The region is further segmented into the USA, Canada and Mexico. The United States is expected to be driven by increasing demand for high-speed mobile data, continuous network infrastructure investments, and the evolving 5G ecosystem, which supports enhanced wireless connectivity and emerging technologies like IoT and edge computing. The long-term evolution (LTE) market in Canada is expected to witness significant growth influenced by a growing need for high-speed mobile data, expanding 4G LTE network coverage, government initiatives to bridge the digital divide, and the development of advanced communication technologies.

The United States is anticipated to be the fastest-growing country in the North American region

Consumers in the USA are increasingly reliant on mobile data for various activities, from streaming high-definition video content to accessing cloud-based applications and services. LTE's ability to provide faster data speeds and lower latency caters to this growing demand. Moreover, telecom operators in the USA continue to invest heavily in expanding and upgrading their LTE networks. This includes deploying more cell towers, upgrading equipment, and optimizing network performance. These investments enhance the overall quality and coverage of LTE services. For instance, in April 2022, Rigstar Industrial Telecom USA expanded its private LTE offerings in the Permian Basin, partnering with BLiNQ Networks to provide these services in West Texas.

Market Key Developments

• In September 2023, eLichens and Sequans announced their partnership to introduce an upgraded version of the Avolta NGD (Natural Gas Detector), featuring NB-IoT/LTE-M technology, specifically using Sequans' Monarch-2 SiP platform.
• In July 2022, Nokia and AT&T Mexico announced their collaboration that would be working on bringing 5G benefits to Mexico. Additionally, AT&T chose Nokia as their strategic partner for AT&T Mexico’s 5G Innovation Lab which aims at exploring the development of 5G in Mexico.

Segmentation:

By Mode

• FDD (Frequency Division Duplex)
• TDD (Time Division Duplex)

By Technology

• LTE OFDM (Orthogonal Frequency Division Multiplex)
• LTE MIMO (Multiple Input Multiple Output)
• LTE SAE (System Architecture Evolution)

By Application

• Audio/Video Telephony
• Live TV
• Browsing
• Gaming
• Sharing

By End-User Device

• Smartphones
• Tablets
• Laptops

By Geography

• North America
• United States
• Canada
• Mexico
• South America
• Brazil
• Argentina
• Others
• Europe
• Germany
• France
• United Kingdom
• Spain
• Others
• Middle East and Africa
• Saudi Arabia
• UAE
• Israel
• Others
• Asia Pacific
• China
• Japan
• India
• South Korea
• Indonesia
• Taiwan
• Others