(I-BusinessNews.Com, July 26, 2021 ) Global LTE Advanced Pro Market is projected to reach $188.6 million by 2026, growing at a CAGR of 12.6% during forecast period 2021-2026. LTE Advanced Pro can be referred as the LTE core network technology which focuses on offering cost-effective high bit rate and peak data rates coupled with optimum performance levels. The growth in the market is majorly attributed to the rising shift towards IoT connectivity and the need for improved network performance such as reduced latency, high speed transmission with many others. Introduction of LTE Advanced Pro was done in order to cope up or address the challenges of unlicensed spectrum requirements, referred to as Licensed Assisted Access (LAA), resulting in growth of LTE Advanced Pro market size. Rising demands towards improving network coverage due to growth of various industry verticals as well as initiatives by telecom operators towards upgrading or advancing network communication infrastructure overtime can further drive forward the LTE Advanced Pro industry in the long run.
LTE Advanced Pro Market Segment Analysis – By Technology
On the basis of technology, the LTE Advanced Pro market has been segmented into Software Defined Networking (SDN) and Network Functions Virtualization (NFV). LTE Advanced Pro solutions deploying NFV core network technology is analyzed to hold highest market share and grow at a CAGR of 7.5% over the forecast period 2021-2026, due to its capability of optimizing network resources. Leveraging NFV technology can help the service providers to move network functions from dedicated appliances to generic servers with higher flexibility, thereby impacting the LTE Advanced Pro industry. Handling massive amounts of data eventually increases network capacity for the network operators, which can be addressed easily utilizing NFV. Deployment of NFV within LTE Advanced Pro systems also helps in reducing network congestion and enhancing large bandwidth requirements coupled with lower costs associated with network expansion. Moreover, NFV based implementation acts as a better alternative for networks handling high signaling traffic as compared to SDN technology, thus creating a higher adoptability from different end-use sectors, where there is need for controlling heavy network traffic, affecting its market growth.
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LTE Advanced Pro Market Segment Analysis – By Application
Based on application, the LTE Advanced Pro industry is segmented into Network testing equipment, Network equipment (Routers, Modems and others) and Modules. Due to high investments towards expanding data communication standards, network equipment deploying LTE Advanced Pro is anticipated to have a significant market share and grow with a CAGR 10.5% in the forecast period. Network equipment including routers, modems and many others have been gaining popularity in the market owing to their capacity of enhancing data transmission path with flexibility as well as optimum efficiency. Deploying LTE Advanced Pro based programmable logic controllers (PLC), routers or modems can help the telecom operators as well as various service providers to meet large bandwidth requirements coupled with high speed and better stability. Various companies such as Cisco Systems Inc., Sierra Wireless, Netgear Inc. with many others can be considered as some of the leading vendors offering routers with LTE advanced pro support. In 2020, Netgear Inc. announced about the launch of Orbi 4G LTE Advanced WiFi Router, LBR20 compiled with LTE-A Cat 18 modem technology, in order to serve users facing limited or no access due to traditional wired broadband or network connection requirement for limited time frame. This device was designed to offer uninterrupted and consistent network access even for rural areas, mountainous regions with limited options related to traditional wired connections as well as remote areas. Such factors are further set to drive the demand for these wireless WiFi routers owing to high network speeds, positively impacting its market growth.
LTE Advanced Pro Market Segment Analysis – By Geography
North America had witnessed a major share of 40% during 2020 in the LTE Advanced Pro market owing to prominent research and development strategies. However, APAC is analyzed to grow with the highest rate during the forecast period from 2021-2026. The growing smart phone user penetration, rapid urbanization as well as demand towards modified networks with better stability are some of the major factors impacting the growth of LTE Advanced Pro services in the region Presence of some key players including Samsung Electronics, ZTE Corporation, NEC Corporation and many others help in aiding the growth of LTE advanced pro services.
LTE Advanced Pro Market Drivers
Improved network efficiency
Growing demand towards improving network efficiency has been acting as one of the major driving factors in the LTE Advanced Pro market. With growing smart phone penetration, there is significant demand towards high performance and faster network delivery, which have been eventually aiding the need towards LTE Advanced Pro services in the long run. Usage of LTE Advanced Pro services aims to increase data speeds as well as available bandwidth for mobile communications alongside being capable of supporting a much wider range of connected devices or platforms
Technological Advancements such as IoT Connectivity
Technological advancements towards IoT support can be considered as a major driving factor in the LTE Advanced Pro market. Compared to LTE-A, deploying LTE Advanced Pro technology can serve as a better alternative by supporting IoT based devices or services with higher efficiency. Since IoT based solutions leverage massive amounts of data and are commonly a part of major connected devices, ensuring better and higher speed network data coverage becomes highly essential.
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LTE Advanced Pro Market Challenges
Emergence of 5G
Rising advancements such as evolving 5G technology are analyzed to be one of the major factors impeding the growth of LTE Advanced Pro or Pre 5G markets in the near future. Though LTE Advanced Pro offers optimal network speed and performance as well as helps the operators serve an upgraded version of 4G, developments towards 5G can mark an adverse impact on its deployment.
LTE Advanced Pro Market Landscape
Top 10 companies in the LTE Advanced Pro market include Intel Corporation, Cisco Systems Inc., Sierra Wireless, Samsung Electronics, Qualcomm, Qorvo, Ericsson, NEC Corporation, Nokia Corporation, ZTE Corporation among others.
Key Takeaways
Growing need towards improved network performance is analyzed to significantly drive the LTE Advanced Pro market during the forecast period 2021-2026.
Network Equipment is expected to have a major share during 2020 within the LTE Advanced Pro industry owing to research and development activities from some of the prominent market players.
APAC is analyzed to grow at highest CAGR during 2021-2026 attributed to the factors including rapid urbanization as well as increased penetration rate of smart phone users.
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