Emergence of new social media platforms, rise in consumer demand for high-speed connectivity, and expansion of 4G network in rural areas are expected to propel the growth of the global 4G equipment market
PORTLAND, Oregon, Aug. 26, 2019 /PRNewswire/ -- Allied Market Research recently published a report, titled, "4G Equipment Market by Component (Infrastructure Equipment and Testing Equipment), and Technology (LTE and Wi-Max): Global Opportunity Analysis and Industry Forecast, 2019–2026". According to the report, the global 4G equipment industry accounted for $40.42 billion in 2018 and is projected to reach $185.05 billion by 2026, registering a CAGR of 20.5% during the forecast period.
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. However, rise in concerns pertaining to network hampers the market growth. On the contrary, expansion of 4G network in rural areas is expected to create lucrative opportunities in the near future.
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Infrastructure equipment segment dominated the market
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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Forerunners of the market
- Airspan Networks Inc.
- Huawei Technologies Co. Ltd.
- Fujitsu Limited
- NEC Corporation
- Motorola Solutions, Inc.
- Samsung Electronics Co. Ltd.
- Nokia Corporation
- ZTE Corporation
- Telefonaktiebolaget LM Ericsson
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Rising demand in each of these segments is assisting the overall growth of the market. Increased need for high data rate, increased demand in public sector due to efficiency of LTE in speedy communication and need for high quality services are among the primary factors driving the growth of the market.
The 5G Technology market is expected to witness considerable growth due to the rise in number of IoT devices and adoption of edge computing, surge in demand for content streaming services, and increase in demand for low latency connectivity in industrial automation globally.
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SOURCE Allied Market Research