4G (LTE) DEVICES MARKET ANALYSIS

Global 4G (LTE) devices market is estimated to be valued at US$ 44.83 Bn in 2022 and is expected to exhibit a CAGR of 5.9% during the forecasted period (2023-2030)

The market encompasses the production, distribution, and sales of these devices on a global scale. It involves various stakeholders including device manufacturers, network operators, retailers, and consumers. The 4G LTE technology offers faster data speeds, lower latency, and improved network capacity compared to previous generations of mobile technology.

Global 4G (LTE) Devices Market: Regional Insights

In 2022, Asia Pacific region dominated the market, with the largest market share of over 42.8 % of total revenue, owing to increasing consumption of media and entertainment content, particularly among the middle-class population in the region. Growing demand for technologically advanced solutions that offer high quality, functionality, and affordable pricing is driving the 4G (LTE) devices market growth. Market players are incorporating the latest technology.

From 2023 to 2030, Europe and North America is also projected to experience significant growth, with a notable compound annual growth rate (CAGR). The market in this region is relatively saturated as most households already have these devices installed in their homes.

Figure 1. Global 4G (LTE) Devices Market Share (%), By Region, 2022

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Global 4G (LTE) Devices Market- Impact of Coronavirus (COVID-19) Pandemic

Globally, most of the countries were affected by COVID-19, and thus, governments had implemented lockdown. COVID-19 had significantly disrupted almost all the industries including electronics & semiconductor, automotive, manufacturing, media & entertainment, and others. The pandemic disrupted supply chains worldwide due to factory shutdowns, transportation restrictions, and logistical challenges. This led to delays in the production and distribution of 4G (LTE) devices, impacting market availability and causing potential price fluctuations. The pandemic impacted the rollout of new 4G (LTE) networks in some regions. Network infrastructure projects faced delays, affecting the expansion and improvement of mobile connectivity.

Global 4G (LTE) Devices Market- Drivers

The Growing Need for High-Speed Connectivity in the Digital Age

The world is experiencing an unprecedented surge in the demand for high-speed connectivity. In an era driven by digitalization, data-intensive applications, and the Internet of Things (IoT), fast and reliable internet access has become a necessity for individuals, businesses, and industries alike. The increasing popularity of online streaming services, virtual meetings, cloud computing, and e-commerce has further intensified the need for high-speed internet connections.

Increasing IoT Advancements

The convergence of two transformative technologies, the Internet of Things (IoT) and 4G LTE, has ushered in a new era of unprecedented connectivity and innovation. As the IoT ecosystem continues to expand, the adoption of 4G LTE technology has played a pivotal role in facilitating seamless and robust communication between an ever-growing numbers of IoT devices. The combination of 4G LTE's high-speed data transmission and low latency has enabled real-time data exchange, empowering IoT applications across industries like healthcare, transportation, agriculture, and smart cities

Global 4G (LTE) Devices Market- Opportunities

Increasing Demand for Affordable Smartphones in Emerging Markets

Rising demand for affordable smartphones in emerging markets is expected to offer opportunities to the market. In developing economies, more and more consumers prefers affordable and feature-rich smartphones that cater to their needs. Factors such as increasing disposable incomes, expanding access to the internet, and growing tech-savvy population are expected to boost demand for smartphones. Thus, smartphone manufacturers are focusing on developing budget-friendly devices without compromising on essential features and functionalities. For Instance, Motorola an American multinational telecommunications company offers Moto E6 in below 100$. This presents a lucrative growth opportunity for companies that can tap into the emerging market by offering competitively priced smartphones that meet the demands and preferences of consumers in these regions.

Influence of IoT on the sales and adoption of 4G-LTE devices

 The integration of IoT technology has positive impact on the sales and adoption of 4G-LTE devices,and this is expected to offer opportunity to the market IoT connects a vast array of devices, and thus, allows seamless communication and data exchange. This boosts demand for 4G-LTE devices that can provide reliable and high-speed connectivity to support IoT applications. Increasing proliferation of IoT-enabled devices and growing need for efficient data transmission are expected to expand the market for 4G-LTE devices. Businesses operating in this market can capitalize on this trend by offering innovative and reliable 4G-LTE devices that cater to the specific requirements of IoT applications. Through harnessing the advantageous impact of IoT, businesses can unlock the opportunity to enter a profitable market and position themselves firmly within the dynamic and ever-changing IoT ecosystem.

Global 4G (LTE) Devices Market- Trends

Growing Internet of Things (IoT)

 The proliferation of IoT devices and applications has boosted demand for 4G LTE devices. IoT devices require reliable and high-speed connectivity to function effectively, and thus, boosting demand 4G-enabled devices in various industries such as healthcare, smart homes, industrial automation, and transportation. For instance, in 2023, Cigniti Technologies, a prominent company specializing in AI-driven Digital Assurance and Digital Engineering services, has proudly revealed that its framework for automating Digital Quality Engineering in the realm of Internet of Medical Things (IoMT) has secured the esteemed "Best IoT Healthcare Platform" accolade.

Paradigm Shift from 4G to 5G Cellular Data Network

The transition from 4G to 5G cellular data network marks a paradigm shift in the world of mobile communication and connectivity. As technology evolves, the demand for faster and more reliable data transfer has become paramount. With the advent of 5G, a new era of telecommunications has emerged, promising significantly higher data speeds, lower latency, and increased network capacity. This revolutionary upgrade opens up a wide range of possibilities, enabling transformative applications across industries such as autonomous vehicles, augmented reality, virtual reality, telemedicine, and smart cities.

Global 4G (LTE) Devices Market- Restraints

Market Saturation of 4G (LTE):

While the market for 4G (LTE) devices may face challenges due to widespread adoption and device saturation, there are still avenues for growth and innovation. The continued development of 4G technology, including enhancements in network infrastructure and the introduction of new features, can spark renewed interest among consumers. Additionally, as the Internet of Things (IoT) ecosystem expands, the demand for reliable 4G connectivity in various IoT applications can create opportunities for device manufacturers to cater to specialized industries and emerging markets. By focusing on differentiation, improved user experiences, and exploring niche segments, companies can mitigate the impact of market saturation and tap into untapped potential.Low Battery life and Increased Power Consumption

Low Battery Life and Increased Power Consumption:

While the demand for high-speed connectivity does impact battery life, advancements in battery technology and power management can counteract this challenge. Smartphone manufacturers are continually working to improve battery efficiency, developing techniques to optimize power usage while maintaining seamless connectivity. Furthermore, the emergence of fast charging technologies and portable power solutions provides users with more convenient ways to keep their devices charged. In parallel, users are becoming more conscious of their device usage habits, employing power-saving modes and selective app usage to extend battery life. As the technology ecosystem evolves, collaborative efforts between device manufacturers, software developers, and users can lead to effective solutions that address the issue of battery life and power consumption in 4G devices.

Figure 2: Global 4G (LTE) Devices Market Share (%), By Device Type, 2022

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Global 4G (LTE) Devices Market- Segmentation

• Global 4G (LTE) devices market report is segmented into device type, price range, distribution channel, and region. Smartphone segment is dominating tablets because the smartphone users are more as compared to tablets.
• By device type: the market is segmented into smartphones and tablets
• By pricing range: the market is segmented into low, medium, and premium
• By distribution channel: the market is segmented into multi-brand store, single brand store, others, and online

Global 4G (LTE) Devices Market: Key Developments

• Major market players are focusing on product launches, in order to enhance their product portfolio.
• For instance, in May 2023, Lenovo Group Limited, a multinational technology company that specializes in designing and manufacturing of electronic devices.  The company has unveiled a novel metered TruScale model, specifically crafted to cater to High-Performance Computing (HPC) as a Service solution. This offering aims to expedite procurement cycles and empowers customers to pay solely for the IT infrastructure they utilize on a monthly as-a-service payment basis.
• For instance, in June 2023, Huawei Technologies Co., Ltd, a leading global provider of information and communications technology (ICT) infrastructure and smart devices, has launched its latest innovations and practices in ICT services and software aimed at empowering industrial intelligent digital transformation alongside with global carriers and industrial partners.
• In July2023, ASUSTek Computer Inc,  a Taiwan-based multinational electronics manufacturer and solution provider, launched PE1100N, a ultra-compact computer for AI inferencing at the edge, and is based on the next-generation and world-leading NVIDIA Jetson Orinseries. It features a fanless design for quiet operation, rich industrial connectivity for serious flexibility and supports a wide range of power inputs and operating temperatures for maximum versatility and durability.
• In June 2023, Apple Inc., a multinational technology company, launched Apple Vision Pro, a revolutionary spatial computer that seamlessly blends digital content with the physical world, while allowing users to stay present and connected to others. Vision Pro creates an infinite canvas for apps that scales beyond the boundaries of a traditional display and introduces a fully three-dimensional user interface controlled by the most natural and intuitive inputs possible a user’s eyes, hands, and voice.
• In June 2023, Apple Inc., a multinational technology company, announced the availability of a new software tools and technologies that enable developers to create groundbreaking app experiences for Apple Vision Pro, Apple’s first spatial computer. Featuring visionOS, the world’s first spatial operating system named Vision Pro allows users to interact with digital content in their physical space by using the most natural and intuitive inputs possible such as their eyes, hands, and voice

Global 4G (LTE) Devices Market: Key Companies Insights

Major players operating in the global 4G (LTE) devices market include Apple Inc., ASUSTeK Computer Inc., Huawei Technologies Co., Ltd., Lenovo Group, LG Electronics, Panasonic Corporation, Samsung Electronics Co., Ltd., Xiaomi Inc, andZTE Corporation

*Definition:  Global 4G (LTE) devices market refers to the market for devices that are capable of connecting to, and utilizing 4G (Fourth Generation) Long-Term Evolution (LTE) networks. LTE is a wireless communication technology that provides high-speed data connectivity for mobile devices. The market for 4G devices includes various types of products such as smartphones, tablets, laptops, wireless hotspots, routers, and other devices that support 4G LTE connectivity. These devices are designed to access the internet, make voice calls, send text messages, and run various applications using the 4G network infrastructure.