The global LTE modem market size is expected to experience significant growth in the next few years. LTE stands for Long-Term Evolution in telecommunications, and it is a standard for high-speed cellular communication based on technologies such as GSM/EDGE and UMTS/HSPA. For carriers with both GSM/UMTS and CDMA2000 networks, LTE is the upgrading path. As different nations use different LTE frequencies and bands, only multi-band phones can use LTE in all countries that accept it. Using a novel radio interface and key network upgrades, the LTE modem enhances capacity and speed.
An LTE modem is a device that connects switches, routers, connected devices like smartphones and PCs to provide instant 4G LTE or 3G fallback broadband connectivity. Advanced LTE modems support peak data transfer rates of over 100 Mbps. DSL modems, Cable Broadband Modems, and Mobile Broadband Modems are the three varieties of LTE modems.
The DSL modem, which stands for Digital Service Line, is a device that connects a computer or router to a telephone line to offer digital subscriber line service for Internet access. A cable modem is a device that allows a computer and an internet service to communicate. Instead of using telephone or cable television lines, a mobile broadband modem allows a personal computer to connect to the Internet via a mobile broadband connection.
The global LTE modem market is segmented on the basis of type, application, and region. Based on type, the market is divided into DSL modems, cable broadband modems, and mobile broadband modems. In terms of application, the market is categorized into residential, and commercial. Geographically, the market is analyzed across several regions such as North America, Europe, Asia-Pacific, and Latin America, Middle East & Africa (LAMEA).
Top Impacting Factors
One of the key factors driving the growth of the LTE modems market is the rapid increase in internet users around the world. In the future term, advancements in IoT technology and an increase in the number of connected devices are expected to drive market growth. Additionally, rising investments in IoT technology, technological developments in the development of new sensors, increased processing power, and continuous mobile connectivity are likely to drive the market expansion during the forecast period.
Continuous Internet access is required for raising connected devices. Certain advancements in continuous Internet access have been made in recent years. Telecommunication service providers are focusing on carrier-grade Wi-Fi equipment to achieve this. Carrier-grade Wi-Fi devices are gaining popularity in the industry due to their ability to provide wireless connectivity over short distances. Furthermore, the rising need for high-bandwidth connectivity to support multimedia data consumption is creating potential growth prospects for LTE modem vendors globally during the projection period.
The development of 5G modem, on the other hand, may obstruct market expansion in the next years. Furthermore, technological improvements as a result of the fast-changing telecom sector and intense competition as a result of the presence of unorganized companies in the market are projected to limit the growth of the LTE modem market. Furthermore, the global LTE modem market is being hampered by the rise of the smartphone industry in recent years as well as the convenience of connecting with other electronic devices.
Increase in the Number of Internet Devices
The growing number of linked gadgets necessitates ongoing internet access. Several advancements in internet connectivity have been accomplished in recent years. Telecommunication service providers are concentrating on carrier-grade Wi-Fi equipment to achieve this. Carrier-grade Wi-Fi devices are gaining popularity in the industry due to their ability to provide wireless connectivity over short distances. The residential sub-segment is predicted to rise at a high CAGR during the forecast period, owing to an increase in internet users in developed and emerging countries.
Increase in Demand For LTE Modem in Different Economies of the World
Asia-Pacific is expected to grab the biggest market share in terms of value due to the huge majority of the population in India and China coming to the internet. Attributed to the presence of significant vendors, technological improvements in the telecommunications industry, and increasing use in residential and commercial sites, North America is predicted to have strong growth rates in terms of value and volume in the global LTE modem market. Due to the growing need for high-speed Internet access, Europe and Latin America also present potential growth possibilities in the LTE modem market. Furthermore, due to the growing number of Internet users in the MEA area, the LTE modem market is likely to develop at a much quicker rate during the forecast period.
Key Benefits of the Report
- This study presents the analytical depiction of the global LTE modem market forecast along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the LTE modem market share.
- The current market is quantitatively analyzed to highlight the LTE modem market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed LTE modem market analysis based on competitive intensity and how the competition will take shape in coming years.
COVID-19 Scenario Analysis
The worldwide quarantine imposed in response to the COVID-19 outbreak has resulted in an economic catastrophe that has thrown practically every business into disarray. The COVID-19 pandemic has a devastating impact on two key factors, health and the world economy at all levels as well as the electronics industry. Following the SARS-CoV-2 outbreak, businesses were forced to make difficult financial and cost-cutting decisions to ensure the continued flow of goods.
Due to the shutdown of manufacturing units, rapid revenue decrease, lack of resources, acute shortage in the supply of raw materials, and lack of prospective manpower, the flourishing LTE modem market is likely to experience a steep decline in sales during the lockout period. The COVID-19 outbreak and subsequent lockdown have resulted in the closure of activities, as well as e-commerce and retail stores, putting supply chains at risk and widening the gap between demand and supply.
In response of COVID-19's long-term implications, governments are attempting to address the problem by enacting beneficial initiatives and policies such as financial packages, lower interest rates, and tax exemptions. Despite the world's efforts to find a COVID-19 breakthrough, the LTE modem market is expected to rebound to a great level during the forecast period. Following COVID-19, the market is expected to gradually recover, presenting strong sales prospects in many parts of the world in the next years.
Questions Answered in the LTE Modem Market Research Report
• What are the leading market players active in the LTE modem market?
• How the current LTE modem market trends will influence the industry in the next few years?
• What are the driving factors, restraints, and opportunities in the market?
• What are the projections for the future that would help in taking further strategic steps?
LTE Modem Market Report Highlights
Key Market Players
Inseego, D-Link, AT&T, CISCO, Apple Inc., TP-Link., Digi Telecommunications, NETGEAR, Huawei Technologies Co. Ltd, ZTE Corporation