Rising demand for high speed internet services to stream videos directly on phone is anticipated to propel growth of market. Advent of affordable 4G enabled mobile phones by manufacturing companies is expected to drive market expansion. Growing adoption of wireless technologies to support wireless communication can augment growth of market over the forecast period. Advantages offer by 4G technology in mobile phones like high definition television (HDTV) streamed multimedia, internet protocol (IP) telephony, and gaming services can stimulate market growth. High frequency band and bandwidth offered by 4G enabled phones as compared to conventional 3G and 2G enabled can foster market expansion in the forthcoming years.
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To cater to rising demand for 4G phones, most manufacturing companies are likely to use innovative ideas to gain traction among consumers. For instance, Reliance Jio recently launched affordable 4G enabled smartphone in India named Jio Phone 2. The device is expected to run on KiaOS operating system. This phone is likely to offer popular pre-installed applications like WhatsApp, Facebook, and YouTube. Consumers can purchase this phone at extremely low price and use high speed internet on this phone through advanced 4G technology.
The 4G phones market can be segregated on the basis of product, end-users, and region. Based on product, the market can be categorized into 4G smart phones and 4G feature phones. Regional segmentation includes Europe, North America, Asia Pacific, Latin America, and Middle East & Africa. In North America, the market is likely to grow well over the forecast period attributed to rising adoption of 4G enabled phones among local consumers. Presence of numerous network services providers offering 4G services can augment market growth during the forecast period. Advent of 4g enabled mobile phones by local manufacturing companies like Motorola and Apple can boost regional growth. Increasing use of mobile to stream online videos using high speed internet is predicted to boost sales of 4G enabled mobile phones in the region. This, in turn, can drive market expansion in the forthcoming years.
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In Asia Pacific, the 4G phones market is expected to witness high growth over the forecast period owing to increasing number of mobile phone users. Continuous introduction of 4G enabled phone phones at affordable prices by manufacturing companies in India, China, and Japan can augment regional growth. Growing demand for high speed internet to watch online videos on mobile phones is estimated to spur market growth. Launch of highly affordable 4G enabled phones by manufacturing companies like Reliance and Xiaomi in India and China respectively can stimulate regional market growth over the forecast period.
In Europe, the 4G phones market is projected to bode well over the forecast period attributed to increasing number of mobile network service providers offering 4G internet services at affordable prices. Thereby, consumers are likely to adopt 4G enabled phones to use high speed internet. This, in turn, can stimulate regional growth over the forecast period.
Some of the leading companies operating in the market for 4G phones are Apple, Samsung, Nokia, Motorola, and Sony. Most manufacturing companies are likely to adopt business strategies like mergers and acquisitions to maintain their market value. In addition, companies can also invest in R&D activities to develop innovative mobile phones offering more advanced features to consumers.
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