12 May 2020
IDC Forecasts the 5G and LTE Router/Gateway Market to Reach $3.0 Billion in 2024 as Demand for Both LTE and 5G Propel Spending Over the Forecast Period
FRAMINGHAM, Mass., May 12, 2020 – Driven by increasing demand from branch, mobile, and Internet of Things (IoT) customers, International Data Corporation (IDC) expects LTE routers to experience double-digit growth in 2020. 5G wireless routers will add to this year's forecast, supported by initial commercial deployments in select regions in the second half of 2020.
"Even with some downward pressure on enterprise network infrastructure spending from COVID-19, 2020 will be another year of growth for most LTE router and gateway vendors. The inclusion of 5G products will also contribute, but will not materially affect the total market until 2021,' said Patrick Filkins, senior research analyst for IoT and Mobile Network Infrastructure at IDC.
Worldwide, IDC expects the total 5G and LTE router/gateway market to grow from approximately $979.3 million in 2019 to just under $3.0 billion in 2024 at a compound annual growth rate (CAGR) of 21.2%. Regionally, North America will remain the largest consumer of LTE routers/gateways, but Asia/Pacific (including Japan) (APJ) will grow the fastest over the forecast period supported by continued expansion and/or densification of macro LTE networks in the region. Both the United States and certain countries in APJ, such as Australia, will be key proving grounds for 5G products as well.
The report, Worldwide 5G and 4G/LTE Router/Gateway Forecast, 2020–2024: Stronger Focus on Cellular Solutions at the Enterprise Edge (IDC #US46208020), presents IDC's annual forecast for the 5G and LTE router/gateway market. Revenue is forecast for both routers and gateways. The report also provides a market overview, including drivers and challenges for technology suppliers.
International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets. With more than 1,100 analysts worldwide, IDC offers global, regional, and local expertise on technology and industry opportunities and trends in over 110 countries. IDC's analysis and insight helps IT professionals, business executives, and the investment community to make fact-based technology decisions and to achieve their key business objectives. Founded in 1964, IDC is a wholly-owned subsidiary of International Data Group (IDG), the world's leading tech media, data and marketing services company. To learn more about IDC, please visit www.idc.com. Follow IDC on Twitter at @IDC and LinkedIn. Subscribe to the IDC Blog for industry news and insights: http://bit.ly/IDCBlog_Subscribe.
Copy the following code into your site