Computing power is all set to witness explosion in the near future. With updated cloud infrastructure, several organizations are re-platforming themselves to cloud. With 5G already doing the rounds, 6G is in the offing. Also, there are smarter devices like intelligent robots for completing the tasks faster. The LTE Advanced 5G Market is bound to witness adoption of this future technology in the upcoming period.
The global LTE advanced 5G market is estimated to reach US$ 23.8 Bn in the year 2022. It’s an exponential 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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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.
Key Players:
The report has profiled some of the Important players prevalent in the global like – Huawei Technologies Co., Ltd., Airspan, Nokia, Ericsson, CommScope, Samsung, ZTE Corporation, Cisco Systems, Inc., Qualcomm Technologies, Inc., NEC Corporation and more.
This report covers the sales volume, price, revenue, gross margin, manufacturers, suppliers, distributors, intermediaries, customers, historical growth and future perspectives in the LTE Advanced 5G.
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Key Takeaways of LTE Advanced and 5G Market Study
- Growing partnerships between telecom network equipment and service providers to streamline LTE advanced and 5G projects are generating new revenue streams.
- LTE advanced and 5G is providing new capabilities to evolve existing services, and is unleashing new use cases that helps in extending application boundaries of businesses and industries such as smart manufacturing, cloud AR/VR, connected automotive, connected energy, smart cities, and many more.
- Asia Pacific excluding Japan is expected to create potential growth opportunities, owing to increasing investments in telecom infrastructure, rising digitalization, and growing number of public-private partnerships.
“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.
- For instance, in October 2019, Huawei and Sunrise entered into a partnership to pave the way for 5G innovation in various verticals, and drive the commercialization of 5G in Switzerland.
Region Coverage (Regional Production, Demand & Forecast by Countries etc.):
North America (U.S., Canada, Mexico)
Europe (Germany, U.K., France, Italy, Russia, Spain etc.)
Asia-Pacific (China, India, Japan, Southeast Asia etc.)
South America (Brazil, Argentina etc.)
Middle East & Africa (Saudi Arabia, South Africa etc.)
Key Stakeholders
LTE Advanced 5G Market Manufacturers
LTE Advanced 5G Market Distributors/Traders/Wholesalers
LTE Advanced 5G Market Subcomponent Manufacturers
Industry Association
Downstream Vendors
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Key Questions Answered in the LTE Advanced 5G Market Report
How is the LTE Advanced 5G Market expected to grow over the projected period?
What direction is the LTE Advanced 5G Market expected to take in terms of volume and value during the forecast period?
What is the impact of macroeconomic factors on the LTE Advanced 5G Market in future?
What are the key market drivers in the LTE Advanced 5G Market?
What are significant opportunities and improvement areas for LTE Advanced 5G Market manufacturers?
What are the key developments and trends taking over the LTE Advanced 5G Market?
Which are the emerging countries that are expected to create significant growth opportunities in the LTE Advanced 5G Market?
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