4G LTE Devices Market 2022
4G LTE Devices Market 2022
In terms of value, the global 4G (LTE) devices market is expected to register an astronomical CAGR of 16.7% during the forecast period from 2021 to 2031, driven by various factors, about which Persistence Market Research offers insights. vital information in detail. The industry is expected to achieve sales of approximately US$185 billion by the end of 2031.
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Samsung Electronics Co., Ltd.
Huawei Technologies Co., Ltd.
ASUSTeK Computer Inc.
Drivers and trends impacting the market
Consumers are increasingly keen on technological advancements in networking solutions and are embracing devices that work smoothly and with smart features. Device features such as low network latency, better battery backup and screen resolution are driving consumers to switch to 4G (LTE) devices, thus fueling the demand for 4G (LTE) devices in the whole world.
Convenience, affordability and attractive data plans offered by network operators in conjunction with device manufacturers are factors encouraging consumers to try 4G (LTE) devices. This, in turn, is increasing the penetration of 4G (LTE) devices globally.
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Device manufacturers at international and national level are playing an important role in the global 4G (LTE) device market by innovating in various ways. For example, manufacturers work with network providers to provide better service and make it more affordable for their customers.
Government initiatives in some regions to encourage the deployment of advanced network data consumption are positively impacting the global 4G (LTE) device market. Traffic for high-quality online video content is increasing, prompting consumers to opt for advanced networking devices that offer high-speed data.
Apart from other factors, increasing data consumption per person per day is expected to drive the revenue growth of the global 4G (LTE) device market.
The global 4G (LTE) device market is segmented on the basis of device type (smartphones, tablets); Pricing (low, low-mid, mid-high, high-end); Distribution channel (multi-brand store [Organized, Independent], single brand store, online); and Region (North America, Latin America, Europe, Asia-Pacific, Middle East and Africa).
Globally, the single-brand stores distribution channel segment is expected to witness significant growth over the forecast period compared to the multi-brand stores and online distribution channel segments, which are expected to experience growth rates. relatively stable growth over the forecast period.
In terms of value, the low price range segment in the 4G (LTE) device market in Asia-Pacific is expected to account for 1/3 share in 2031. Developing countries in this region present the huge potential of the Low-end 4G (LTE). smartphones and tablets due to advances in network infrastructure.
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This report covers the trends driving each segment and offers analysis and insight into the global 4G (LTE) devices market potential in specific regions. The 4G (LTE) device market in Asia-Pacific and North America is expected to register high growth rates between 2021 and 2031.
Europe holds a relatively small but significant market share in the global 4G (LTE) device market, as the mobile device manufacturers in this region are relatively smaller. The 4G (LTE) device market in Asia-Pacific is expected to gain substantial market share owing to strong demand from consumers based in countries such as China, Indonesia, and India.
The 4G (LTE) device market in North America is expected to account for more than a third of the global market share, as mobile device penetration is highest in this region.
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