According to a recent market research report published by Transparency Market Research, the global LTE market is estimated to take a leap at a CAGR of 78.6% during the period between 2013 and 2019. The report, titled “Global LTE Market – Industry Analysis, Size, Share, Growth, Trends and Forecast 2013 – 2019”, forecasts the global LTE market to reach a valuation of US$610.71 bn by 2019. The overall market was worth US$10.47 bn in 2012.

Long term evolution, better known as LTE and marketed as 4G LTE, refers to a wireless communication standard for high-speed data for mobile phones and data terminals. With enhanced capacity per site, LTE technology lowers the cost per gigabyte. The report points out that the need for higher data rates and greater spectral efficiency due to increased data usage is fuelling the demand from the global LTE market. Rapid development of smart devices and need for high quality of services on the move have further pushed the growth of the market. Public safety LTE and planned large-scale adoption of LTE by operators in Asia Pacific will propel the growth of the global LTE market.

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However, the report states that roaming on LTE networks is not fully developed yet. This along with compatibility issues will restrain the growth of the global LTE market. The overall market has a huge opportunity to grow with the convergence of IT and telecom. Connected devices and Internet-of-Things will create new growth avenues for the market during the forecast horizon. On the basis of technology, the report segments the global LTE market into TD-LTE or LTE-TDD, LTE-FDD, and LTE advanced. In 2012, the LTE-FDD segment accounted for 56.8% market share. However, during the forecast horizon, the report estimates the LTE advanced segment to witness tremendous expansion at a CAGR of 175.0%.

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