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% between 2018 and 2023.
The LTE Advanced Pro market has huge potential across various deployment
locations such as urban areas, rural areas, residential areas, public spaces,
and retail stores. Key factors driving the LTE Advanced Pro market are 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.
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LTE Advanced Pro market for RAN Equipment to grow at the highest
CAGR during the forecast period
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
increased demand for cloud-based network architectures, such as NFV and network
slicing for network capacity. Using a distributed, software-enabled network
based on virtualization and new architectural approaches such as NFV and
network slicing, operators and third-party service providers will be able to
deploy new applications and services rapidly and in a scalable manner.
NFV to hold the largest share of the LTE Advanced Pro market by
2023
NFV core
network technology is expected to hold the largest size of the LTE Advanced Pro
market by 2023. Considering the fast LTE Advanced Pro gigabit speed network and
yet-to-commercialize next-generation 5G network, millions of consumers and
businesses are anticipated to connect to the mainstream cellular network. NFV
promises to ease the load by granting service providers the flexibility to move
network functions from dedicated appliances to generic servers. Using standard
IT virtualization technology, NFV focuses to combine many network equipment
onto standard, high-volume servers, switches, and storage; thereby making
networks more agile and efficient.
LTE Advanced Pro market for retail stores to grow at highest CAGR
during forecast period
The LTE
Advanced Pro market for the retail stores deployment is expected to grow at the
highest CAGR between 2018 and 2023. Retail stores face huge increase in mobile
data traffic and many outlets also face the problem of blind spots, which
reduces the number of visiting customers. The growth of the cellular
connectivity market for the retail application is propelled by the increasing
adoption of the cloud platform, declining cost of IoT components, and need for
better technology to make the retail value chain more efficient.
North America leads the LTE Advanced Pro market in terms of value
North
America held the largest share of the LTE Advanced Pro market in 2017. The
region is well known for the high adoption of new advanced technologies,
including IoT, wearable devices, and autonomous cars/connected cars. In North
America, the market for these technologies is growing at a significantly high
rate. Need for reliable and fast connectivity required for these technologies
is addressed by LTE Advanced Pro infrastructure, which is expected to provide
growth opportunities for the market in North America.
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The
companies profiled in this report are Huawei (China), Ericsson (Sweden), Nokia
Networks (Finland), ZTE (China), Samsung Electronics (South Korea), NEC
(Japan), Cisco Systems (US), Qualcomm (US), Intel (US), Cavium, Inc. (US),
Qorvo, Inc. (US), CommScope (US), and Airspan Networks (US) among others.
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