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.
However, stringent norms for telecom operators in several countries and a 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.
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According to the report, the global 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.
The global LTE base station system market is divided on the basis of product type, end-user, and geography. Based on product type, the market is segmented into TDD-LTE and FDD-LTE. The TDD-LTE segment held the largest share in 2017, contributing nearly three-fifths of the market. However, the FDD-LTE segment is projected to register the fastest CAGR of 20.5% during the forecast period.
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On the basis of end-user, the market is divided into residential & small office or home office (SOHO), enterprise, urban, and rural. The residential & SOHO segment dominated the market, accounting for more than two-fifths of the market. However, the rural segment is estimated to manifest the fastest CAGR of 21.0% through 2023.
The LTE base station system market is analyzed across various regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across North America held the largest share in 2017, contributing more than two-fifths of the market. However, the market across Asia-Pacific is expected to portray the fastest CAGR of 22.4% during the forecast period.
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The market report provides an in-depth analysis of the major market players such as Huawei Technologies Co., Ltd., Ericsson AB, ZTE Corporation, Nokia Corporation, Airspan, Cisco Systems Inc., Alpha Networks Inc. AT&T 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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