4G Phones Market is expected to grow at a significant CAGR in the upcoming period as the scope and its applications are rising enormously across the globe. The 4G phones are lightweight, portable, and compact devices that support 4G connectivity to carry out day-to-day computing tasks like running and browsing software applications.
The factors that are playing a major role in the growth of 4G phones market are the growing demand from the developing countries, the rising technological enhancements in networking infrastructure, and increasing consumption of HD video content. However, lack of awareness regarding 4G technology may restrain the overall market in the years to come. The market is segmented based on device type, pricing, distribution channel, and region.
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Tablets, smartphones, and other device types could be explored in the market in the forecast period. The smartphones sector accounted for the substantial market share of 4G phones and is estimated to lead the overall market in the years to come. The reason could be growing demand from the consumers in the developing countries. Based on the pricing, premium, low, and medium could classify 4G phones in the forecast period.
Based on the distribution channel, online channel, multi-brand channel, single brand stores, and others could classify 4G phone market in the forecast period. Single brand store sector accounted for the significant share of the market and is estimated to continue with its dominance in the years to come. Also, the online store sector is estimated to grow at the fastest pace in the years to come. The reason could be the availability of offers on a number of brands.
Globally, Asia Pacific accounted for the substantial market share of 4G phones industry in terms of value and is estimated to lead the overall market in the years to come. The reason behind the overall market growth could be the growing demand from consumers from the developing countries. The developing countries like India and China are the major consumers of 4G phones in this region.
North America and Europe are also estimated to have a positive influence on future growth. North America is the second largest region with significant market share. The reason could be the introduction of other enhanced networking technologies. However, Europe is estimated to grow at the highest CAGR in the forecast period.
The key players of the 4G phones market are Samsung Electronics, Apple Inc., Lenovo Group Limited, LG Electronics Inc., ASUSTek Inc., Huawei Technology Company Limited, and ZTE Electronics. These players are concentrating on inorganic growth to sustain themselves amidst fierce competition.