Global 4G (LTE) Devices Market was valued at US$ 44.83 Bn in 2022. Global 4G (LTE) devices market is expected to witness growth, owing to increasing adoption of advanced technology such as IoT advancements, and increasing demand for affordable smartphones in emerging markets.
Global 4G (LTE) Devices Market: Drivers
Increasing Smartphone Adoption
The global 4G LTE devices market is anticipated to experience significant growth due to the increasing adoption of smartphones worldwide, particularly in emerging markets. As consumers transition from feature phones to smartphones, the demand for LTE-enabled devices has been on the rise.
Global 4G (LTE) Devices Market: Opportunities
Feature Phone Replacement
In several markets, feature phones are still prevalent. The ongoing transition from feature phones to smartphones is expected to offer opportunity for 4G LTE device manufacturers to cater to the growing demand for affordable smartphones with 4G LTE capabilities.
Global 4G (LTE) Devices Market: Restraints
Health and Environmental Concerns
Increased usage of smartphones and other wireless devices has raised concerns about potential health risks associated with radiofrequency (RF) emissions. Similarly, the environmental impact of electronic waste from discarded devices is a growing concern.
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/4g-lte-devices-market-3329
Key Takeaways:
Global 4G (LTE) devices market was valued at US$ 44.83 Bn in 2022, and is estimated to reach US 79.13 Bn by 2030 at a CAGR of 5.9% between 2023 and 2030.
Global 4G (LTE) Devices Market: Trends
Growing Internet of Things (IoT)
The proliferation of IoT devices across various industries has boosted demand for 4G (LTE) devices. IoT devices such as smart home devices, wearables, industrial sensors, and connected vehicles require reliable and high-speed connectivity to function effectively. 4G LTE networks provide necessary connectivity to support these IoT devices and enable seamless data transmission.
Covid-19 Impact Analysis:
The global 4G (LTE) devices market experienced various impacts due to the COVID-19 pandemic up to September 2021. Disruptions in supply chains led to production delays and distribution challenges. While increased digital transformation efforts drove demand for reliable connectivity, economic uncertainty and shifts in consumer priorities affected overall device purchases. The rise of e-commerce, regional variations in pandemic effects, and the emphasis on remote work and learning further influenced market dynamics. The transition to 5G devices might have been delayed due to financial uncertainties, potentially extending demand for 4G (LTE) devices. Please note that the situation may have evolved since then, and recent industry reports and analyses should be consulted for the latest insights.
Global 4G (LTE) Devices Market: Competitive Landscape
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, and ZTE Corporation
Global 4G (LTE) Devices Market: Recent Developments
For instance, in May 2023, Lenovo Group Limited, a multinational technology company that specializes in designing and manufacturing of electronic devices, is doing a partnership with the Leibniz Supercomputing Centre (LRZ) , a prominent facility in the field of high-performance computing (HPC), build Europe’s first High Performance Computer (HPC) prototype as part of an innovation partnership. Lenovo Group Limited will provide one or more prototypes for the exascale-ready system. LRZ is currently in the process of planning a system that is scheduled to be deployed in the middle of this decade. The focus of this system is to cater to the diverse scientific needs of LRZ users across various fields. Once the research and development phase is completed, and the subsequent evaluation is done, it will determine which of the two technology companies participating will be awarded the contract to build and maintain the next-generation exascale supercomputer.
In March 2023, Xiaomi Inc, a Chinese multinational electronics company, that offers smartphones with smart hardware connected by an IoT platform at its core exhibits, announced its newest technological advancements and vision for a connected future at MWC held in Barcelona. By utilizing different zones that exhibit their latest flagship products and smart living scenarios, the company is providing visitors with a direct experience of its extensive product portfolio, encompassing more than 150 innovative products.This immersive experience provides insight into innovative approach by utilizing technology to enhance daily life.
In December 2021, ASUSTeK Computer Inc., an electronic devices manufacturing company, has revealed that Solid State Supplies is now a part of the ASUS IoT Alliance (AIA) program, which aims to develop Internet of Things (IoT) solutions. As a U.K.-based distributor specializing in electronic and manufacturing markets, Solid State Supplies can now explore a broader range of opportunities and meet diverse customer requirements in the IoT and AI era. ASUS IoT and Solid State Supplies plan to collaborate closely, offering comprehensive solutions for various IoT and cloud applications, fostering a mutually beneficial partnership within the industry.
In June 2023, Samsung Electronics Co., a South Korea-based multinational manufacturing company, introduced a concept called Smart Things, a smart home technology, with the new features for SmartThings Energy. This empower people to take more action on their energy use, save money and earn rewards, while contributing to a more sustainable future.
