4G (LTE) Devices Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)

Long-term evolution, also known as LTE, is a telecommunications standard for wireless broadband communication for mobile devices.In 2024, the market is projected to reach $47.27 billion, and by 2031, it is expected to grow to $61.66 billion, reflecting a compound annual growth rate (CAGR) of 3.90%. Mobile devices are small, light, and portable computing devices with optional mini-keyboards and touch or non-touch display screens. A smartphone is a more sophisticated mobile phone with a number of advanced functions. Different operating systems, including Blackberry OS, Android OS, iOS, Windows, and others, run on smartphones. A tablet is also a wireless, portable computer with a touchscreen interface that is larger than a smartphone but relatively smaller than a computer.

Global smartphone penetration is increasing, which has accelerated data flow and put more demand on the communication infrastructure. This has forced telecom companies to upgrade their 4G (LTE) networks in order to guarantee capacity and satisfy customer needs at reasonable prices. Over the course of the projection period, these variables are anticipated to fuel market expansion.

The market in North America held a leading market share and will remain the market leader for the forecast period. The demand for 4G (LTE) devices in the Europe region will hold a significant portion of the market.

Restraints Affecting 4G (LTE) Devices Market Growth

"Lack of Awareness Associated with 4G (LTE) in Various Nations is Anticipated to Hinder the Global 4G (LTE) Devices Market Development"

In some nations, existing 3G networks are fast and sufficiently functional. Furthermore, during the course of the forecast period, the expansion of the global 4G (LTE) devices market is anticipated to be constrained by poor knowledge of the advantages of 4G-LTE. Mobile customers in the U.K. have an average 3G network speed that surpasses Internet speeds in other parts of Europe. Consequently, this restricts the country's adoption of 4G LTE. Additionally, the emergence of 5G technology can slow down the growth of 4G (LTE) devices.

Recent Developments in 4G (LTE) Devices Market

• Samsung launched its 4G LTE version of the Galaxy S21 Smartphone Series.
• Airtel expanded its 4G network in Kerala using LTE 900 technology.

Market Growth in The U.S.

“The Market Growth in The U.S. Is Expected to Develop as A Result of the Large Range of Modern and Improved Connectivity Alternatives brought about by IoT Technological Advancement.”

Rapid IoT growth has led to the integration of a massive network of intelligent, cellular-connected machines and gadgets. This has led to the creation of a number of connectivity options, which are anticipated to accelerate market growth throughout the foreseeable future in the U.S. Due to these factors, the U.S. region is analyzed to dominate the global 4G (LTE) devices market.

Growth Opportunities in the 4G (LTE) Devices Market in India

“Growth Opportunities for the 4G (LTE) Devices Market Are Being Created by Increasing Demand for Low-Priced Smartphones”

Consumers in emerging economies are acquiring low-cost smartphones with advanced capabilities that support 4G LTE in greater numbers. Thus, in order to increase their customer base, manufacturers are concentrating on providing affordable 4G LTE devices. This factor is driving the market growth in India.

Adoption of 4G (LTE) Devices in Europe

“Paradigm transition from 3G to 4G Cellular Data Network is Major Factor Driving the Market Growth”

Germany, being one of the most economically significant countries in the European region, holds the largest market share. Devices with innovative functionality and low latency are increasingly in demand from consumers. While streaming HD films or playing online games, the difference between 3G and 4G networks is evident. The shift from 3G to 4G cellular networks is being accelerated by 4G (LTE), which allows users to access information and data at a much faster rate. Thus, these transitions are creating opportunities for market growth in the region.

Category-wise Insights

Smartphones Dominating the 4G (LTE) Devices Market

“Increasing Adoption of Smartphones Drives Demand for Smartphones Segment in Devices Type”

The smartphones segment holds the largest market share in the 4G (LTE) devices market. The government's endeavors to implement technological advancements in networking infrastructure and the rising adoption of smartphones in emerging nations are the main drivers of segment growth during the forecast period.

Multi Brand Stores Leading in Distribution Channels

“Multi Brand Stores to Have the Fastest Growth Rate”

Compared to single-brand stores and online distribution channels, multi-brand stores are anticipated to experience significant growth globally during the forecast period.

Competitive Analysis

Major 4G (LTE) devices companies are collaborating and partnering with other organizations to improve their product offerings and expand their market size.

• Vodafone Cook Islands, in partnership with SES, will provide 4G+ networks across the Cook Islands.
• Verizon and Amazon have formed a partnership to compete with Starlink, aiming to expand 5G and 4G wireless networks without the need for traditional infrastructure.

Key Companies Profiled

• Apple Inc.
• Samsung Electronics
• ZTE Corporation
• Huawei Technology Company Limited
• Lenovo Group Limited
• ASUSTek Computer, Inc.
• Xiaomi Inc.
• LG Electronics Inc.
• Panasonic Corporation

Market Segmentation

By Device Type:

• Smartphones
• Tablets

By Pricing:

• Low
• Medium
• Premium

By Distribution Channel:

• Multi Brand Stores
• Organized
• Independent
• Single Brand Stores
• Online

By Region:

• North America
• Latin America
• Europe
• East Asia
• South Asia Pacific
• Middle East and Africa