LTE Advanced Pro Market Report 2024

This LTE Advanced Pro market report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

The LTE advanced pro market size has grown exponentially in recent years. It will grow from $3.94 billion in 2023 to $8.82 billion in 2024 at a compound annual growth rate (CAGR) of 124%. The growth observed in the historic period can be attributed to several factors, including government initiatives aimed at upgrading communication network infrastructures. LTE Advanced Pro contributes to this growth by delivering higher bitrates in a cost-efficient manner, enhancing efficiency with additional functionalities, reducing latency, and optimizing connectivity. These improvements not only address the growing demand for better network coverage but also create new growth opportunities in the telecommunications sector.

The LTE advanced pro market size is expected to see exponential growth in the next few years. It will grow to $222.54 billion in 2028 at a compound annual growth rate (CAGR) of 124.1%. The growth projected for the forecast period can be attributed to several factors such as the increasing demand for enhanced network efficiency, the need for improved network performance, rising demand for high-speed internet, rapid urbanization, and the need for network modifications. Additionally, the growing need for advanced applications such as the Internet of Things (IoT) is driving this growth. Key trends expected during this period include enhanced carrier aggregation, massive MIMO, network slicing, improved latency reduction, and advanced support for IoT.

The growing demand for high-speed internet is expected to drive the expansion of the LTE Advanced Pro market. High-speed internet, or broadband, provides significantly faster data transmission speeds compared to traditional dial-up connections. The rise in data-intensive applications, the increasing number of connected devices, and the need for seamless online experiences in both personal and professional contexts are fueling this demand. LTE Advanced Pro supports high-speed internet by utilizing advanced technologies such as carrier aggregation and higher-order MIMO to offer faster, more efficient, and reliable wireless connectivity. For example, Eurostat reported in August 2022 that high-speed internet coverage in the European Union increased to 73.4% of households in 2022, up from 59.6% in 2020, highlighting the growing need for high-speed internet and the corresponding growth in the LTE Advanced Pro market.

Major companies in the LTE Advanced Pro market are advancing technologies like Wi-Fi routers to improve connectivity and internet speeds, enhance network reliability, and meet the rising demand for high-quality streaming and online services. Wi-Fi routers are networking devices that wirelessly transmit data, enabling multiple devices to connect to the internet or a local network without the need for physical cables. For example, in July 2024, Cudy Pte. Ltd., a Singapore-based edtech company, introduced 4G LTE Wi-Fi routers with new casing designs. These routers are specifically developed to provide high-speed internet connectivity for educational institutions and remote learners, ensuring consistent access to online resources. With improved performance and user-friendly interfaces, these routers aim to help students and teachers remain connected no matter their location, supporting uninterrupted online learning experiences.

In August 2022, Semtech Corporation, a US-based semiconductor company, acquired Sierra Wireless Inc., a Canada-based provider of LTE Advanced Pro, for an undisclosed amount. This acquisition aims to integrate LoRa and cellular technologies into a comprehensive IoT platform, enhancing Sierra Wireless's capabilities and boosting high-margin IoT cloud service revenues.

Major companies operating in the LTE advanced pro market are Samsung Electronics Co Ltd, Verizon Communications Inc, Huawei Technologies Co Ltd, Intel Corporation, Cisco Systems Inc, Qualcomm Technologies Inc., Telefonaktiebolaget LM Ericsson, Nokia Corporation, MediaTek, ZTE Corporation, CommScope, Qorvo Inc, Sierra Wireless, Zones LLC, Cradlepoint, Teldat S.A., MultiVu, Provantage LLC, Telcoma Global, Baltic Network.

North America was the largest region in the LTE advanced pro market in 2023. Asia-Pacific is expected to be the fastest-growing region in the market. The regions covered in the LTE advanced pro market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the LTE advanced pro market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Long-Term Evolution Advanced Pro (LTE-A Pro), also known as LTE Advanced Pro, is an enhanced version of the LTE mobile network standard. It delivers improved performance and capabilities, including faster data speeds, increased network capacity, and enhanced coverage. LTE-A Pro introduces advanced features such as carrier aggregation, higher-order MIMO (multiple input, multiple output), and enhanced network efficiency, providing users with a more robust and faster wireless experience.

The core technologies of LTE-A Pro include Software-Defined Networking (SDN) and Network Function Virtualization (NFV). SDN is a network management approach that allows for dynamic and programmatically efficient network configuration, thereby enhancing network performance and monitoring. LTE-A Pro's infrastructure differs from traditional small cell, macro cell, radio access network (RAN) equipment, and distributed antenna systems (DAS), serving a wide range of end users including retail, transportation, healthcare, residential, industrial, and commercial sectors.

The LTE advanced pro market research report is one of a series of new reports that provides LTE advanced pro market statistics, including LTE advanced pro industry global market size, regional shares, competitors with an LTE advanced pro market share, detailed LTE advanced pro market segments, market trends, and opportunities, and any further data you may need to thrive in the LTE advanced pro industry. This LTE advanced pro market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The LTE advanced pro market consists of revenues earned by entities by the provision of advanced network infrastructure, including base stations, antennas, and core network equipment. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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