A recent market report by Technavio forecasts the Global LTE base station market to grow at a CAGR of over 17% during the 2019-2023 period. A key factor driving the growth, according to the report, is the growing demand for IoT devices. Internet of Things (IoT) is gaining immense popularity and demand, thanks to its numerous advantages in various segments, including automotive, healthcare, consumer electronics, aerospace and defense, and other industries.
Since the number of IoT devices is increasing, the demand for these IoT solutions is also on the rise, which, in turn, is driving the growth of the global LTE base stations systems market. This market research report also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline. The report highlights the growing investments in LTE-A as one of the key emerging trends in the global LTE base station market.
Growing investments in LTE-A
The deployment of 5G is currently the priority in the market. Several market vendors have realized the market potential of LTE-A in emerging economies, especially in urban areas. Although the extreme densification and short-haul small-cell ranges that are necessary to achieve 5G will make it usable only in dense urban scenarios, the immense market potential of LTE-A in urban areas has pushed several vendors to increasingly invest in the technology. This is leading to significant investments in network development and expansion, which is expected to drive the growth of the global LTE base station systems market during the forecast period.
Segmentation Analysis
This market research report segments the global LTE base station market by end-user (rural and remote, urban, enterprise, and residential and SOHO), by product (macrocell and small cell), and geographical regions (APAC, EMEA, and the Americas). The APAC region led the market in 2018 with a market share of more than 41%, followed by the Americas and EMEA respectively. The APAC region is likely to continue dominating the market during the forecast period with the highest incremental growth owing to huge market potential in emerging economies such as India, Indonesia, and Malaysia.
Click here for the full report, Global LTE Base Station Market 2019-2023.
