PUBLISHER: UnivDatos Market Insights Pvt Ltd | PRODUCT CODE: 1145460
PUBLISHER: UnivDatos Market Insights Pvt Ltd | PRODUCT CODE: 1145460
The Global Fixed LTE market is anticipated to grow with an elevated CAGR of around 24% over the forecast period (2022-2028). The global fixed LTE market is growing on account of the growing need for high-speed internet, also the growing applicability of the internet with IoT devices. Furthermore, the growing smartphone penetration is also expected to drive the fixed LTE market, For instance, there are more than a 294 million smartphones only in the U.S. Smartphones make using the internet more accessible for a larger userbase. Furthermore, the growing popularity of wireless technologies is transforming the digital revolution and it has the potential to increase cost-effectiveness and enhance productivity. primarily wherein the consumers have limited access to the technology. Notably, the service providers are making a prominent investment in fixed LTE technology for home or residential users, which is expected to have a positive impact on the growth of the market over the forecast period.
Based on user type, the market is segmented into commercial and residential. The residential segment is expected to grow with a significant CAGR during the forecast period. The growing adoption of fixed LTE in the residential segment can be attributed to the growing internet penetration globally. According to the world bank, more than 56% of the global population is on the internet. Furthermore, fixed LTE usage in residential areas is growing rapidly due to increasing consumer demand for high-speed internet connectivity, especially when customers have restricted access to technology. In particular, service providers have invested heavily in the home or residential fixed LTE technology, which is expected to have a positive impact on market growth during the forecast period. For instance, in Mexico, AT&T launched fixed LTE broadband services, especially for residential users, in April 2018, wherein the company laid emphasis majorly on the areas that are unserved or underpenetrated by fixed-line operators.
For a better understanding of the market dynamics of the Fixed LTE market, a detailed analysis was conducted for different regions across the globe including North America (U.S, Canada, and the Rest of North America), Europe (Germany, France, Spain, United Kingdom, Italy, and Rest of Europe), Asia-Pacific (China, India, Japan, and Rest of APAC), Rest of World has been conducted. North America held a prominent share of the global Fixed LTE market in 2020 and is expected to showcase a prominent growth rate during the forecast period. This can be attributed to the growing demand for IoT devices and an increasing number of internet users in the region. According to the world bank, more than 89% of the US population is on the internet. Other reasons for the growth of fixed LTE in the region are higher individual income, greater internet literacy, and early adoption of new technologies.
The global Fixed LTE market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.