LTE Advanced Pro Market Projected to Reach $188.6 Million by 2026

LTE Advanced Pro Market Projected to Reach $188.6 Million by 2026

“LTE Advanced Pro Market”
Growing Demand Towards Improving Network Efficiency Has Been Acting as One of the Major Driving Factors in the LTE Advanced Pro Market.

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.

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.

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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. Growth of wireless and connected devices along with government initiatives towards upgrading communication network infrastructures overtime have been also propelling the need for large bandwidth support technologies such as LTE Advanced Pro, ensuring high-speed transmission standards. In 2020, a leading mobile operator, named Huawei Technologies in partnership with Smart Axiata had announced about its plans of investing towards improving their existing 4.5G mobile broadband connectivity within the country, thus analyzed to further enhance the LTE Advanced Pro market size during the forthcoming years.

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. As compared to other technologies including LTE and LTE-A, LTE Advanced Pro offers better carrier aggregation feature, thus allowing service providers to extend support for increased number of carriers simultaneously. Moreover, growth of various industries has been creating higher data requirements, which has been impacting the need for better and more efficient network connectivity. Deployment of LTE Advanced Pro technology helps in providing high-speed data connectivity for massive amounts of data more efficiently coupled with optimized capacity, performance as well as network functionality. Such features eventually help in improving communication network standards while making it more reliable, thus creating a significant impact on LTE Advanced Pro market growth rate. According to reports from GSA (Global Mobile Suppliers Association), about 366 operators have made investments in either LTE-Advanced or LTE-Advanced Pro technologies by February 2020. Out of these figures, 325 operators have deployed or launched LTE-Advanced/LTE-Advanced Pro technologies within their commercial networks and 202 will be investing in one or more LTE Advanced Pro technologies. These estimates show about the growing shift towards modernizing communication infrastructures leveraging advanced core network technologies, thereby enhancing the LTE Advanced Pro industry outlook in near future.

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. In addition to this, LTE Advanced Pro is capable of encompassing technologies such as NB-IoT (Narrowband-IoT) and LTE-M (LTE-Machine Type Communication), which offer low speed narrowband access for low power consuming devices. Utilizing LTE Advanced Pro for IoT applications can be highly beneficial for the end-users due to combining features like high throughput and ultra-low latency. In 2019, Sierra Wireless had introduced a cellular router, named AirLink RV55 LTE-A Pro capable of simplifying as well as reducing costs on connecting critical remote assets across public safety, utility and other applications. This compact and rugged router was developed to help utilities deploying Cellular IoT solutions through modernization of  grid operations by connecting aging equipment or infrastructures, combining high-speed, reliable Wifi connectivity, serial and ethernet interfaces, thereby creating a positive impact on its market growth rate.

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. Governmental initiatives or investments from various service providers towards upgrading the networking communication infrastructure by introducing 5G will eventually slow down the growth of LTE Advanced Pro in the long run. Moreover, emergence of 5G networks will help in transmitting massive amounts of data including large scale IoT applications with enhanced flexibility, speed and better user experience. In addition to this, utilizing 5G will improve user experience during video streaming, gaming and so on, while hindering the LTE Advanced Pro industry.

LTE Advanced Pro Market Landscape

Partnerships and acquisitions along with product launches are the key strategies of the players in the LTE Advanced Pro market. The 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.

Partnerships/Product Launches/Acquisition

In November 2020, one of the leading providers of networking devices, Tenda announced the launch of innovative 4G LTE Advanced pocket mobile Wifi hotspots, named 4G 180 and 4G 185. This development was meant to serve as a better alternative in order to address connectivity and speed related challenges, while covering small space area with consistent Wifi signals, thus eliminating dead spots.

In March 2020, BEC Solutions, Inc. announced about addition to its existing RidgeWave series of 4G LTE outdoor routers with RidgeWave BEC 4900 series. These routers are capable of providing cost-effective high speed fixed wireless access across homes or business within suburban or rural locations, along with benefits of LTE advanced pro category-12 support

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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