Market Overview
The market of LTE and 5G Broadcast is expected to rise to a market size of 1,058 million dollars by the end of the year 2027. In the projected period of 2021 to 2027, the LTE and 5G Broadcast market is expected to grow at a CAGR or Compound Annual Growth Rate of 12.3%. The growth in the market can be hugely attributed to the growth in users of smartphones all over the world. This is due to new technologies that allow the availability of low-priced smartphones and the increase in disposable incomes of consumers across the world. There has also been an increase in adoption IoT or Internet of Things which has contributed to the growth of the market. 5G network is responsible for enhancing augmented and virtual reality and the scope attached to these expanding services in education, business and other fields.
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The surge in smartphone users and subscribers of LTE and 5G broadcast are factors that have greatly contributed to market growth. There has also been in an increase in consumption of media due to the rise in digital platforms and formats. Most devices support these platforms and formats and there is an increased freedom of choice for users of all backgrounds to access digital media on the platform and format of their choice. With high consumption, there is also an increasing need of on-demand content and hence, high network speed and connectivity. The growing demand and consumption of these devices can be taken advantage of by providing consumers with unique services and offers. This market is also expected to grow greatly in the segment of connected cars.
Market Segmentation:
The LTE and 5G Broadcast market is segmented on the grounds of end-user and technology. On the grounds of end user, the segments include fixed LTE quadruple play, stadiums, connected cars, video-on-demand or VOD, e-magazines and e-newspapers, emergency alerts and mobile television. On the grounds of technology, the segment pertaining to LTE is expected to dominate the market in the projected period. On the grounds of end users, the segment of VOD or Video on Demand is expected to dominate and boost the overall market of LTE and 5G Broadcasting Services.
Regional Classification:
The dominating regional segment in the LTE and 5G Broadcast Market is the continent of North America. It is expected to lead the market share distribution in the forecast period of 2021 to 2027. The various regional segments of this market include Europe, Latin America, Middle-East, Africa, Asia Pacific and North America. APAC or Asia Pacific is also expected to show a large market share in the projected period owing to investments in R&D, and partnerships with companies across the world. China is expected to grow the fastest in the APAC segment based on region.
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Industry News:
There are some main players in the market of LTE and 5G Broadcasting. These include Intel Corporation, AT&T, Athonet Srl, Enensys Technologies, NEC Corporation, Nokia, Telefonaktiebolaget LM Ericsson, ZTE Corporation, Huawei Technologies Co. Ltd., Cisco Systems, Samsung and Qualcomm Technologies Inc.
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