Global LTE Market Expect to Grow 56% Over Next 7 Years

LTE has really taken over in the United States, but up until recently it hasn’t been a global trend. However, research conducted by analysts at ReportsnReports.com estimated that the global LTE market is going to grow at a CAGR of 56% over the next 7 years and that it will eventually represent more than 20% of all mobile connections by 2020. According to the report, “From an operator viewpoint U.S. operators dominate the market with a 37% market share thanks to the tremendous coverage footprint of tier 1 operators Verizon Wireless & AT&T. The market share of U.S. operators is followed by Japanese and Korean operators NTT DoCoMo, KDDI, SoftBank, LG Uplus, SK Telecom and KT which represent 38% of all LTE subscriptions worldwide. From an infrastructure manufacturer perspective Ericsson, Huawei, Nokia Siemens Networks and Alcatel-Lucent are leading the market and account for a combined market share of 85% of all LTE contracts. Ericsson is also leading the market from a technology neutral perspective with a 24% stake in all global 2G/3G/4G contracts.”