The market study covers the present scenario and growth prospects of the global 4G devices market, and lists smartphones, tablets, and mobile broadband modems, as the three major product segments, of which the smartphone segment accounted for more than 93% of the market share in 2016.
This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing
Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free.
Technavio analysts highlight the following three market drivers that are contributing to the growth of the global 4G devices market:
- Growing use of Internet
- Rising income levels in emerging markets
- Short upgrading cycle of smartphones
Looking for more information on this market? Request a free sample report
Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.
Growing use of Internet
The Internet has seen massive growth since 2000. With the rise in digital communication, social media, and e-commerce, the penetration of the Internet is expected to rise further. Despite being the region with the lowest Internet penetration rate, APAC has the highest number of Internet users, which represents more than 50% of the entire Internet-using population.
With the rising number of Internet users across the world, there would be a higher deployment of 4G networks for accessing high-speed networks and faster data transfers. This will drive the demand for 4G devices.
Rising income levels in emerging markets
The global 4G devices market will witness a high growth rate from emerging markets such as Malaysia, India, Indonesia, Philippines, Turkey, and Vietnam due to the rise in the income levels of people in emerging economies.
With the declining average selling price of smartphones and tablets, 4G devices are becoming cheaper. In most of the developing countries, low-cost smartphones find a higher traction. Chinese vendors such as Xiaomi are offering low-cost smartphones with features similar to those of expensive smartphones.
According to Raghu Raj Singh, a lead analyst at Technavio for computing devices research, “The rising use of mobile computing devices such as smartphones and tablets and the increasing affordability of these devices has resulted in their higher adoption in emerging markets. This trend will continue during the forecast period and will propel the growth of the 4G devices market.”
Short upgrading cycle of smartphones
The smartphone market is highly influenced by the shorter and faster upgrading cycles due to the rapid technological and design advances. Consumers tend to frequently replace the older versions of their devices with newer ones that are launched in the market. Currently, the replacement cycle of these products is a mere 8-12 months. This short product replacement cycle is leading to the growth of 4G-enabled smartphones market.
“Several other advances like VoLTE and Iris scanners were adopted by smartphone manufacturers in 2016. These advances induce consumers to buy upgraded smartphones. Not only technology but smartphones have also seen a drastic change in their physical appearance. As smartphones are becoming more of a necessity than an accessory, customers want their gadgets to reflect their persona. This will lead to a higher demand for smartphones during the forecast period, which comprises a major share of the global 4G devices market,” says Raghu.
Browse Related Reports:
- Global Automatic Data Capture (ADC) Market 2017-2021
- Global Smart Smoke Detector Market 2017-2021
- Global Cable Modem Termination System (CMTS) Market 2017-2021
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at firstname.lastname@example.org.