Global Cellular Networks Market – By Lift Technology, By Mechanism, By Application, By Region, By Country: Forecast to 2023
The global cellular networks market is anticipated to garner a CAGR of 40% during the forecast period (2017-2023).
Cellular networks market has experienced tremendous growth in the past few years and is expanding at a rapid pace due to the evolving mobile industry. The popularity of dongles, smartphones, iPhones tablets, and iPads is predicted to fuel its growth during the assessment period.
The top players operating in the global global cellular networks market are Verizon Communications (U.S), AT&T Inc. (U.S), Bharti Airtel Ltd (India), Alcatel Lucent (France), Reliance Communications Ltd (India), NTT Docomo (Japan), China Mobile Ltd (China), and Singapore Telecommunications Ltd (Singapore).
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June 2019: O2 has become the latest network carrier in the UK, offering a cellular version of the Apple Watch Series 4. Consumers of iPhone can order the LTE-enabled smartwatch with the help of the O2 website. The website is now providing personal pay-monthly plans, allowing users t make calls and use data connection right from their wrist.
Market Potential and Pitfalls
The cellular networks market is likely to gain huge prominence in the global market due to the extensive usage of smartphones across the globe. The growing use of smartphone and its applications has increased consumer reliability. The dependency of the consumers has shown a major impact on cellular network subscription market. The advent of 4G is anticipated to boost the growth of cellular networks market across the globe. The emergence of 5G services is also anticipated to show promising growth in the foreseeable future. 5G, which is being deployed, and the launch of 5G services are predicted to create growth opportunities for the cellular networks market across the globe. Moreover, cellular service providers are highly involved in R&D for the development of services, which is further estimated to propel the demand for cellular networks across the globe. The surging demand for high-quality service has also influenced the service providers to collaborate. This is further likely to promote the growth of the market.
On the contrary, market players who are not being able to transform their network from 3G to 4G might lose their customer base. This is likely to restrict the growth of cellular networks market in the long run.
Global Cellular Networks Market: Segmental Analysis
The cellular networks market is segmented on the basis of frequency, technology, application, and connection type.
By frequency, the cellular networks market is segmented into UMTS, EDGE, and LTE. Among these, LTE is considered a promising segment as it draws less battery power and allows roaming.
By technology, the global cellular networks market is segmented into 2G, 3G, 4G, and 5G. Among these, 4G is the most used technology in the present market, while 5G is an upcoming technology and is expected to expand rapidly.
By connection type, the market is segmented into pre-paid and post-paid.
Based on application, the market includes USB/power dongles, mobile phones, and modem/router.
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Geographically, the cellular networks market spans across Europe, Asia Pacific, North America, and Rest of the World (RoW).
Considering the global scenario, Europe and North America are considered the leading regional markets for cellular networks. Saturation of the market catering to the services, and with consumers using cellular networks, the regional markets are likely to experience slow growth in the foreseeable future.
The Asia Pacific is likely to emerge as the most promising regional market, with nations like India and China experiencing surging rates of mobile connectivity. The surging demand for high-quality cellular network services will result in a boost of 4G services in this region. Market players are highly involved in the development of 5G technology, which is further creating growth opportunities for the regional market. Moreover, the increased adoption of smartphones, especially in emerging countries is considered to encourage the growth of the regional market.
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