According to a report by Allied Market Research, the global 4G equipment industry accounted for $40.42 billion in 2018 and is projected to reach $185.05 billion by 2026, at a CAGR of 20.5% during the forecast. Advent of new social media platforms and applications, increased consumer demand for high-speed connectivity, and supportive government and initiatives have boosted the growth of the global 4G equipment market. In addition, increasing competition among service providers to offer customers better network connectivity supplemented the market growth. Also, the expansion of 4G networks in rural areas is expected to create lucrative opportunities in the near future. Some interesting findings from the report are listed below.
Infrastructure Equipment Segment Dominates
By component, the infrastructure equipment segment held the largest share in 2018, contributing more than three-fourths of the global 4G equipment market, owing to proliferation of IoT devices and rise in number of connected devices and smartphones. However, the testing equipment segment is projected to register the fastest CAGR of 22.1% during the forecast period, due to rise in need to avoid faults in 4G equipment and trace the fault in electronic devices.
LTE Segment to Manifest Fastest Growth through 2026
By technology, the LTE segment is estimated to portray the fastest CAGR of 21.3% during the study period. Moreover, the segment dominated the market in 2018, contributing more than four-fifths of the market, owing to high penetration of smartphones across the world. The 4G equipment market report includes analysis of the Wi-Max technology.
Asia-Pacific Gathered Largest Share Followed by North America
The market across the Asia-Pacific region held the largest share in the global 4G equipment in 2018, accounting for nearly two-fifths of the market. Moreover, the region is projected to witness the fastest growth with a CAGR of 22.0% during the forecast period, owing to strong penetration of mobile devices and cellular technologies in developing countries such as India and China. However, North America holds the second largest share in the industry, contributing more than one-fourth of the market in 2018.
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