Portland, OR, Oct. 07, 2019 (GLOBE NEWSWIRE) -- According to the report, the global LTE base station system market accounted for $25.86 billion in 2017 and is projected to garner $71.98 billion in 2023, registering a CAGR of 18.6% during the forecast period.
Increased demand for high-speed broadband services and a rise in consumer awareness of IoT applications such as connected homes & automobiles have boosted the growth of the global LTE base station system market. However, stringent norms for telecom operators in several countries and lack of availability of compatible devices hamper the market growth. On the contrary, the growth of the overall telecom market is expected to create lucrative opportunities in the near future.
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The global LTE base station system market is divided on the basis of product type, end user, and geography. Based on product type, the market is segmented into TDD-LTE and FDD-LTE. The TDD-LTE segment held the largest share in 2017, contributing nearly three-fifths of the market. However, the FDD-LTE segment is projected to register the fastest CAGR of 20.5% during the forecast period.
On the basis of end-user, the market is divided into residential & small office or home office (SOHO), enterprise, urban, and rural. The residential & SOHO segment dominated the market, accounting for more than two-fifths of the market. However, the rural segment is estimated to manifest the fastest CAGR of 21.0% through 2023.
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The LTE base station system market is analyzed across various regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across North America held the largest share in 2017, contributing more than two-fifths of the market. However, the market across Asia-Pacific is expected to portray the fastest CAGR of 22.4% during the forecast period.
The market report provides an in-depth analysis of the major market players such as Huawei Technologies Co., Ltd., Ericsson AB, ZTE Corporation, Nokia Corporation, Airspan, Cisco Systems Inc., Alpha Networks Inc. AT&T Inc., CommScope Inc., and Motorola Solutions.
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