Global LTE and 5G broadcast market size to grow at decent rate through 2028

According to MarketStudyReport, global LTE and 5G broadcast market is anticipated to register a healthy CAGR over the stipulated timeframe to amass modest returns by the year 2028.

Additionally, the study discusses the revenue contribution as well as growth opportunities for various market segments including technology type and end-use spectrum. To clearly comprehend the prospects in different locations, the booklet also includes a thorough geographical bifurcation. A full-fledged analysis of well-known players is also provided, along with an overview of their service and product offerings to aid shareholders in making clear and profitable decisions.

The industry is primarily driven by rising smartphone penetration, demand for widespread device connectivity due to the development of IoT, combined with the growing preference for on-demand content, and seamless mobile data services.

For the uninitiated, long-term evolution (LTE), which is primarily based on the UMTS/HSPA and GSM/EDGE standards, is a wireless broadband communication technology for data terminals and mobile devices. The wireless standard known as 5G, or fifth generation, enables the networking and communication of devices such as connected cars, homes, and offices.

Growing number of smartphone subscriptions, rising demand for dependable & high-quality public safety communication systems, and focus on decreasing network capacity congestion are expected to bolster industry outlook in the coming years.

However, dearth of experienced labor, and compatibility issues between 5G broadcast and reception devices may hamper worldwide LTE and 5G broadcast market trends over the analysis timeframe.

Regional scope:
For in-depth insights, the latest industry trends are studied across North America (U.S., Canada, Mexico, Brazil), Europe (U.K, France, Germany, Spain, Italy, Rest of Europe), Asia Pacific (China, South Korea, India, Australia, Japan) Latin America (Brazil and Mexico), and rest of the world.

Among these, North America industry holds a major revenue share at present, owing to rising R&D expenditures, advent of novel technologies, and expanding presence of major players in the region.

Whereas Asia Pacific market is slated to expand at a healthy CAGR over the analysis timeframe, on the back of strong economic expansion, upsurge in internet usage, and rising demand for in-car connectivity across the region.

Competitive dashboard:
On the competitive front, Rohde & Schwarz GmbH & Co. KG, ENENSYS Technologies S.A., NEC Corporation, Nokia Corporation, ZTE Corporation, Telefonaktiebolaget LM Ericsson, Cisco Systems, Inc., Huawei Technologies Co., Ltd., Samsung Electronics Co., Ltd., and Qualcomm Technologies, Inc. are the leading players in global LTE and 5G broadcast market. Globe Newswire