Cellular Networks Market To Proliferate and Grow at CAGR of 40% (2017 -2023)

Market Insights Cellular networks are ubiquitous with many service providers competing against each other for consumer attention. A tremendous increase in the adoption of smartphones has impacted the market significantly and has created a huge demand for cellular network services. Market Research Future has conducted an in-depth study of the global cellular network market which reveals several important findings regarding the growth of the market. MRFR's findings suggest market growth at a staggering CAGR of over 40% during the review period from 2017 to 2023. The highly promising growth expected for the market is likely to result in billions of generated market value by the end of 2023. Mobile devices require cellular networks to connect to each other, and cellular network service providers offer two types of subscriptions, namely pre-pain and postpaid. The widespread adoption of mobile devices has significantly impacted the demand for cellular networks in a positive manner. Presently most mobile devices use 4G technology under the LTE band. However, promise of the upcoming 5G technology which is being developed and the impending launch of 5G services will drive growth for the market. Various cellular network service providers are actively involved in R&D regarding the development of services which are tailored to suit customer needs. Increasing demand for high-quality service has encouraged service providers to collaborate and has had a positive influence on market growth.Market SegmentationThe global cellular network market has been examined by segments, which have been determined on the basis of technology, frequency, application, connection type, and region. Technology in cellular networks has been segmented into 2G & 3G, 4G, and 5G. 4G is presently the most used technology. However 5G technology is upcoming and is likely to grow at a rapid pace. Frequency in cellular networks has been segmented into EDGE (Enhanced data rates for GSM revolution), UMTS (Universal Mobile Telecommunications System), and LTE (Long Term Evolution). LTE is a highly promising segment as it enables roaming and draws less battery power. Applications of cellular networks are segmented into mobile, USB/power dongles, and modem/router. Connection types of cellular networks are divided between pre-paid and post-paid.

Regional Analysis