LTE and 5G Broadcast: Introduction
LTE and 5G refer to standards for wireless data transmission, which offers high speed and provides robust connectivity. It offers enhanced spectrum efficiency, reduced latency, and delivers higher bandwidth.
LTE and 5G broadcast enable multi-user distribution of high-quality content. LTE (long term evolution) broadcast is a 4G channel technology that provides single-stream data access to its end-user and at the same time, enables service operators to handle exponential demand from users in specific areas.
Government authorities in developing countries are focusing on digitization and technological development for hyper-connectivity of public services, which acts as a key driver of the LTE and 5G broadcast market.
Increase in mobile connectivity, rise in demand for premium quality video content, and surge in popularity for OTT platforms are anticipated to boost the market for LTE and 5G broadcast during the forecast period
Grab an Exclusive PDF Brochure of this Report @ https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=83159 Global LTE and 5G Broadcast Market: Dynamics Global LTE and 5G Broadcast Market: Key Drivers
Mobile internet users are increasing at a rapid pace across the globe. According to The Mobile Economy, the number of mobile internet users in Asia Pacific alone is expected to reach 663 million by 2025, while almost 23% of internet connections in the region are projected to be 5G connections. This is expected to drive the market for LTE and the 5G broadcast market in the next few years.
Increasing consumer shift from traditional entertainment services toward OTT platforms has created significant demand for high-speed internet services that can be fulfilled using LTE and 5G broadcast services, which in turn is projected to fuel the market across the globe
Increasing disposable income in developing economies such as India and reducing the cost of smart devices are estimated to offer significant opportunities for the LTE and 5G broadcast market players to address the untapped business potential during the forecast period
However, implementation of outdated technology creates a major threat for the industry development, as it results in less stability and an increase in hardware expenses
Impact of COVID-19 on Global LTE and 5G Broadcast Market
COVID-19 affected the global economy adversely, as manufacturing plants and logistic operations were shut down amid lockdown in countries that experienced a major surge in coronavirus cases. Companies shifted their operations to work-from-home mode in order to safeguard the workforce and comply with government regulations. Internet usage increased heavily, as users were inclined toward online shopping, OTT platforms, virtual meetings, and video calls. Businesses understood the importance and need for high-speed connectivity, which is projected to increase the demand for LTE and 5G broadcast across the globe.
North America to Hold a Major Share of Global LTE and 5G Broadcast Market