Global LTE device market - led by APAC – expects to see CAGR exceeding 26% through 2020

By Jim O'Neill on Dec 04 2015 at 7:00 AM
Global LTE device market - led by APAC – expects to see CAGR exceeding 26% through 2020

The global LTE consumer devices market is projected to grow at a CAGR of more than 26% through 2020 as rising consumer adoption of mobile video, increasing mobile data traffic and growing demand for high speed data connectivity from enterprises and consumers intensifies.

LTE delivers a faster, more efficient, higher-quality mobile network for users, while also simplifying operator infrastructures and lowering costs.

Improving LTE network infrastructure across the globe is significantly contributing to increasing demand for LTE consumer devices, said TechSci Research in its latest report, Global LTE Consumer Devices Market Opportunities & Forecast, 2020.

As device costs are declining, and purchasing power is increasing for consumers – especially in Asia-Pacific and Middle East – adoption of LTE devices from manufacturers like Samsung, Apple, LG, Sony, Pantech, D-Link following suit.

While North America accounted for the lion’s share in the global LTE consumer devices market, as recently as 2014, Asia-Pacific is expected to emerge as a major market due to the growing demand from consumers in China and India.

And, while LTE-enabled smartphones dominated global LTE consumer device market through 2014, the share of smartphones in global LTE consumer device market is anticipated to decline due to rising acceptance of LTE enabled tablets and routers during the forecast period.

“Integration of virtual and augmented reality applications in LTE consumer devices is expected to drive sales of LTE enabled smartphones, tablets etc., during the coming years,” said Karan Chechi, Research Director with TechSci Research. “Leading LTE device suppliers such as Samsung, Apple, etc., are making their presence felt in virtual and augmented reality space by acquiring start-ups and enhancing product quality and consumer experience.”

Stay tuned.

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