Market Trends of Long-term Evolution (LTE) Industry
VoLTE Application Segment is Expected to Hold Significant Market Share
- Voice over Long-Term Evolution (VoLTE) is a technology that allows voice calls to be made over LTE networks rather than using traditional circuit-switched networks. This technology has been gaining popularity in the LTE market, offering better voice quality and faster call setup times than conventional networks.
- The LTE market has grown rapidly in recent years due to the increasing demand for high-speed data services. VoLTE is an important application in the LTE market as it allows operators to use their LTE networks to provide voice services rather than relying on legacy circuit-switched networks. This allows operators to free up spectrum and network resources previously used for voice services, which can be used to provide better data services.
- VoLTE also provides a better user experience by offering features such as high-definition (HD) voice, which provides better call quality, and video calling, which allows users to make video calls over LTE networks. VoLTE supports rich communication services (RCS), allowing users to share multimedia content such as photos and videos during calls.
- Many recent technological advancements have contributed to popularizing and adopting such services in developing countries, such as India. The Telecom Regulatory Authority of India (TRAI) has recommended that the government auction spectrum for 5G services in the 3.3-3.6 GHz frequency band. The government has also allowed telecom operators to conduct trials of 5G technology in India.
- With the increasing 5G coverage, the market is expected to witness further growth across major regions of the globe. According to Cisco Annual Internet Report, China (20.7%), Japan (20.6%), and the United Kingdom (19.5%) will likely be the top three 5G countries in terms of device and connection share by 2023.
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Asia-Pacific is Expected to Hold Significant Market Share
- Long-Term Evolution (LTE) technology has seen significant growth and adoption in Asian countries recently. The main driving factors behind this growth are the increasing demand for high-speed data services and the growing number of mobile subscribers in these countries.
- Moreover, smartphone penetration in growing economies in this region has grown exponentially in recent years. It is expected to grow in the coming years, which drives the market in this region.
- China is the largest LTE market in Asia, with more than 1.2 billion mobile subscribers. The country has invested heavily in 4G and 5G infrastructure, and by 2023, the country will have the largest global 5G network with over 20.7% of devices and connections. South Korea is also a significant LTE market in Asia, with one of the highest 5G penetration rates globally.
- Furthermore, shifting consumer preferences and increased demand for high-speed mobile broadband in the Asia-Pacific region have created enormous opportunities in the APAC industry. In addition, telecom carriers in this area have more LTE deployments planned in these emerging nations.
- Rapid urbanization, fast industrial growth, and advancement in communication technology are important factors leading the way for advanced wireless networks and solutions in this region.
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