Allied Market Research is reporting that the LTE market will grow quickly and be worth more than $997 Billion by 2020. The report analyzes the global LTE market based on geographical regions and reveals that Asia Pacific possesses the highest potential and is expected to generate the highest revenue with approximately 40% of the global LTE market. North America currently occupies about 50% share in the global market.
Current revenue from the LTE market in Asia Pacific accounts for $2.8 billion and is expected to reach $390 billion by 2020 due to changing customer preferences and rising demand for high-speed mobile broadband. Because of this potential, telecom operators have planned the highest number of LTE installations in these developing countries, the report said.
Even though high speed browsing facility is the primary reason for extensive use of LTE in browsing, it is expected that defense and security will be the fastest growing market throughout 2013-2020.
In terms of actual competition in the LTE market, the study tells us what we already know:
“There is moderate threat of new entrants due to various telecom companies dealing in the market, however, limited number of players would keep this threat at a moderate level as LTE requires high initial investment and it would be a tough task for a new company to start LTE service.”