LTE consumer devices market to average 26% growth p.a. until 2020Thursday, December 3rd, 2015
Global LTE Consumer Devices Market to Grow at a CAGR of Over 26% Until 2020 Says TechSci Research
- Rising mobile data traffic, growing smartphone penetration and low manufacturing costs to drive global LTE consumer devices market through 2020
BURNABY, Canada — According to a TechSci Research report, “Global LTE Consumer Devices Market Opportunities & Forecast, 2020”, global LTE consumer devices market is projected to grow at a CAGR of over 26% during 2015 – 2020 on account of rising mobile data traffic, growing demand for high speed data connectivity from enterprises and consumers, coupled with increasing research and development activities. Improving LTE network infrastructure across the globe is significantly contributing to increasing demand for LTE consumer devices. Rising purchasing power of consumers, especially in Asia-Pacific and Middle East, is also boosting adoption of LTE consumer devices.
Samsung, Apple, LG, Sony, Pantech, D-Link, etc., are few of leading global manufacturers of LTE consumer devices. During 2010 – 2014, Samsung was the undisputed market leader in the global LTE consumer devices market. However, new entrants have been intensifying competition in global LTE consumer devices market over the last few years. In 2014, North America accounted for the lion’s share in global LTE consumer devices market. Nevertheless, Asia-Pacific is expected to emerge as a major market for LTE consumer devices in the coming years, due to the growing demand from consumers in China and India. LTE enabled smartphones dominated global LTE consumer device market in 2014. However, the share of smartphones in global LTE consumer device market is anticipated to decline due to rising acceptance of LTE enabled tablets and routers during the forecast period.
“Integration of virtual and augmented reality applications in LTE consumer devices is expected to drive sales of LTE enabled smartphones, tablets etc., during the coming years. Leading LTE device suppliers such as Samsung, Apple, etc., are making their presence felt in virtual and augmented reality space by acquiring start-ups and enhancing product quality and consumer experience.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global LTE Consumer Devices Market Forecast & Opportunities, 2020” has evaluated the future growth potential of global LTE consumer devices market and provides statistics and information on market structure, size and future growth of global LTE consumer devices market. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities present in the global LTE consumer devices market.