Beancounters working for Allied Market Research say that the LTE market will grow quickly and be worth more than $997 Billion by 2020. It is a fairly safe bet, the market is primed to grow and no-one will remember that number in 2020 and quote it back to them and say “six years ago you got that number wrong.”
The report, with the catchy title " LTE Market (TDD, FDD, LTE Advance) - Global Opportunity Analysis and Forecast - 2012-2020" said that Asia Pacific is forecast to surpass other geographical markets by 2020 with approximately 40 per cent of the global LTE market.
Current revenue from LTE market in Asia Pacific accounts to $2.8 billion and is expected to reach a value of$390 billion by 2020. Furthermore, this would be the fastest growing market throughout the globe, experiencing a CAGR of 71.5 per cent during 2013-2020.
The report said that Telecom companies have already gained good number of 4G LTE subscribers in the developed countries.
Increased need for higher data rates and greater spectral efficiency are the primary factors driving the market growth. The development of LTE in the public sectors such as public safety as well as in defence and security is further driving the market exponentially.
These applications require high-speed communication at times of emergency and therefore LTE is the best-suited network to feed this need. Furthermore, changing customer preferences and rising demand for high-speed mobile broadband in Asia Pacific region has created a huge potential in the APAC market. Telecom operators have planned highest number of LTE installations in these developing countries, the report said.