Increased demand for high-speed broadband services and a rise in consumer awareness of IoT applications such as connected homes & automobiles have boosted the growth of the global LTE base station system market.
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However, stringent norms for telecom operators in several countries and lack of availability of compatible devices hamper the market growth. On the contrary, the growth of the overall telecom market is expected to create lucrative opportunities in the near future.
According to the report, the global LTE base station system market accounted for $25.86 billion in 2017 and is projected to garner $71.98 billion in 2023, registering a CAGR of 18.6% during the forecast period.
Residential and SOHO dominated the global market in 2016, and is expected to remain dominant during the forecast period, owing to the increase in demand for high data transfer rate from customers. Furthermore, the enterprise segment is expected to grow at the highest CAGR during the forecast period.
The global LTE base station system market was led by the North America segment in 2016, and the segment is projected to maintain its dominance during the forecast period.
However, the Asia-Pacific segment is expected to witness the highest growth, owing to the growth in adoption of LTE base station system by many telecom operators to provide high-speed broadband services.
Some of the key players operating in the aviation analytics market that are profiled in the report include Ericsson AB, Huawei Technologies Co., Ltd., Nokia Corporation, ZTE Corporation, Alpha Networks Inc. AT&T Inc., Airspan, Cisco Systems Inc., CommScope Inc., and Motorola Solutions.
KEY FINDINGS OF THE STUDY
- The TDD-LTE segment is expected to exhibit significant increase in the global LTE base station system market during the forecast period.
- In 2016, the residential and SOHO segment accounted for the highest revenue among the other end user in the industry.
- North America segment generated the highest revenue in 2016.
- Asia-Pacific is anticipated to exhibit substantial growth during the forecast period.
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