With the evolution of 3G technological architecture, long-term evolution (LTE) has provided significant advantages by offering enhanced data rates and better connectivity. The evolution of LTE into LTE Advanced and LTE Advanced Pro acts a parameter to enhance the network further to 5G.
The LTE Advanced Pro market is estimated to be valued at USD 150.0 million in 2018 and is expected to reach USD 8,017.5 million by 2023, at a CAGR of 121.6% from 2018 to 2023. Key driving factors for this market include improved efficiency with additional functionality, growing demand for improved network coverage, reduced latency and optimized connectivity, and LTE Advanced Pro delivering higher bitrates in a cost-efficient manner.
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The LTE Advanced Pro market is highly competitive owing to the presence of a large number of global market players. Also, the LTE Advanced Pro market is undergoing many technological advancements. The companies have realized the importance of enhanced mobile coverage in a cost-effective manner. For example, in February 2018, Huawei announced the product launch of 3 Star 2.0 series inclusive of RuralStar 2.0, PoleStar 2.0, and TubeStar 2.0 solution. Each solution improves performance while streamlining site design, deployment, and operations & maintenance (O&M) to help operators and tower vendors effectively reduce their total cost of ownership (TCO).
The LTE Advanced Pro market for RAN equipment is expected to grow at the highest CAGR between 2018 and 2023. This growth can be attributed to the introduction of and increasing demand for cloud-based network architectures, such as NFV and network slicing for network capacity.
By Type, the LTE Advanced Pro market for integrated small cell is expected to grow at the highest CAGR during the forecast period. Integrated small cells are multimode small cells supporting multiple standards, such as 3G and current and future LTE networks (4G, 4.5G, 4.75G, and 4.9G). Integrated small cells consist of software-defined, virtualized radio modules and offer increased agility, reduced cost, and opportunity to scale fast and explore multiple models of deployment.
The LTE Advanced Pro market in RoW is expected to grow at the highest CAGR followed by APAC between 2018 and 2023. APAC is expected to pick up the pace in the small cell market during the forecast period. The increasing number of devices connected with advanced technologies such as IoT and M2M communication would require faster connectivity, which is likely to lead to the high CAGR of the LTE Advanced Pro market in this region during the forecast period.
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