The LTE
Advanced Pro Market for RAN equipment
is expected to grow at the highest CAGR between 2018 and 2023. This growth can
be attributed to the introduction of and increasing demand for cloud-based
network architectures, such as NFV and network slicing for network capacity.
With the evolution of 3G technological
architecture, long-term evolution (LTE) has provided significant advantages by
offering enhanced data rates and better connectivity. The evolution of LTE into
LTE Advanced and LTE Advanced Pro acts a parameter to enhance the network
further to 5G.
The LTE Advanced Pro market is estimated to
be valued at USD 150.0 million in 2018 and is expected to reach USD
8,017.5 million by 2023, at a CAGR of 121.6% from 2018 to 2023. Key driving
factors for this market include improved efficiency with additional
functionality, growing demand for improved network coverage, reduced latency
and optimized connectivity, and LTE Advanced Pro delivering higher bitrates in
a cost-efficient manner.
The LTE Advanced Pro market is highly
competitive owing to the presence of a large number of global market players.
Also, the LTE Advanced Pro market is undergoing many
technological advancements. The companies have realized the importance of enhanced
mobile coverage in a cost-effective manner. For example, in February 2018, Huawei
announced the product launch of 3 Star 2.0 series inclusive of RuralStar 2.0,
PoleStar 2.0, and TubeStar 2.0 solution. Each solution improves performance
while streamlining site design, deployment, and operations & maintenance
(O&M) to help operators and tower vendors effectively reduce their total
cost of ownership (TCO).
By Type, the LTE Advanced Pro market for integrated
small cell is expected to grow at the highest CAGR during the forecast period. Integrated
small cells are multimode small cells supporting multiple standards, such as 3G
and current and future LTE networks (4G, 4.5G, 4.75G, and 4.9G). Integrated
small cells consist of software-defined, virtualized radio modules and offer
increased agility, reduced cost, and opportunity to scale fast and explore
multiple models of deployment.
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The LTE Advanced Pro market in RoW is expected to grow at the highest CAGR followed
by APAC between 2018 and 2023. APAC is expected to pick up the pace in the
small cell market during the forecast period. The increasing number of devices
connected with advanced technologies such as IoT and M2M communication would
require faster connectivity, which is likely to lead to the high CAGR of the
LTE Advanced Pro market in this region during the forecast period.
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