LTE Testing Equipment Market Forecast Revised in a New FMI Report as COVID-19 Projected to Hold a Massive Impact on Sales in 2020
VALLEY COTTAGE, N.Y. – Exceptional penetration of wireless technology has been steadily pushing LTE (Long-term Evolution) deployment in recent past. With thriving consumer demand for high speed connectivity, growing emergency of accurate carrier testing, battery testing, conformance testing, and field evaluation is also fueling the sales of LTE testing equipment worldwide. Over-the-air (OTA) testing plays a crucial role in evaluation of realistic capabilities, safety, and reliability of wireless devices.
According to a newly published intelligence outlook by Future Market Insights, remarkable expanse of telecommunication infrastructure will remain the prime factor driving adoption of LTE testing equipment. The approximately below US$ 3 billion market for LTE testing equipment is projected to demonstrate exponential revenue growth in coming years.
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As IoT spreads its roots across all verticals, industry operators are extending their demand for integration of a massive network of connected devices and machinery. The resultant emergence of new alternatives of connectivity is prominently driving the expansion of LTE testing equipment on a global label.
Telecom Holds the Lion’s Share in Global Market Revenue
Telecommunication service providers continue to register maximum installation of LTE testing equipment. Smartphone adoption and subsequently following network connection demand are rapidly translating into robust sales of LTE testing equipment. Rapid connectivity migration from 3G to 4G and 5G is cited as the most prominent driving force instrumenting stellar revenue growth of LTE testing equipment, in recent years.
Looking at the flourishing smartphone landscape in Asia Pacific, it is more likely that the region, along with the developing economies in the Middle Eastern and African region, are also slated to develop high market attractiveness in coming years. Africa, a relatively untapped market for LTE providers, is likely to create a heap of opportunities for both LTE providers and LTE testing equipment suppliers in the near future on account of the thriving telecom industry.
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Developing Economies Reflecting Maximum LTE Deployment Potential
India, a potentially attractive pocket of investment for LTE products providers, recently witnessed the launch of a new 4G LTE Network by VNL Limited, a prominent manufacturer in the telecom space. The company has unveiled this LTE network for 4G connectivity across rural parts of India and is offering LTE products at economical prices, with a seamless connectivity. Such developments are foreseen to support the growth of Asia’s LTE testing equipment market, thereby adding to the global revenue of LTE testing equipment landscape.
South Korea is also positioned as a lucrative, high potential market for LTE testing equipment providers, as the country has witnessed rapid roll-out of the LTE network and the current penetration of the network is more than 97%. South Korean telecom operators such as SK Telecom are deploying LTE testing equipment for the network test and measurement in diverse devices. SK Telecom recently extended the outreach of their high speed LTE network to serve over 30 Korean countries and around 75 cities. The report thus points exceptional scope of penetration of LTE testing equipment in South Korean market.
“South Korea, along with Japan, has demonstrated dramatically rapid network migration from 3G to LTE within a short span of time. This has been boosting data consumption among network users and consumers are able to use 2x data per month. This major migration will continue to favor manufacturers as well as vendors of LTE testing equipment in the long run,” says a senior research analyst at FMI.
Key Market Players Focussing on Partnerships & Alliances
As revealed by an extensive assessment of the global competitive landscape of LTE testing equipment market, a majority of the prominent manufacturers and vendors of LTE testing equipment are likely to opt for strategic collaborations and partnerships.
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While these strategic deals are considered paramount for LTE testing equipment upgrade, the strategy is more likely to offer market participants a competitive edge over others.
Recently, a collaboration between Rohde&Schwarz, and Gemalto has paved the way for development of new T&M tools that facilitate LTE testing by reducing time and costs, which are otherwise challenging in case of LTE and LTE advanced modules.
A few more prominent companies operating in global LTE testing equipment market include Anritsu, Spirent Communications, Agilent Technologies, Inc., Anite, Aeroflex Inc., Tektronix, Inc., and Fluke Corporation.
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Future Market Insights (FMI) is a leading market intelligence and consulting firm. We deliver syndicated research reports, custom research reports and consulting services which are personalized in nature. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights and an aerial view of the competitive framework and future market trends.
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