The global 5G and LTE router and gateway market is expected to see considerable growth over the next four years even when factoring in the effect of the coronavirus pandemic.
The combined LTE and 5G router and gateway market is forecast to enter into the billions over a four-year period, growing from US$979.3 million in 2020 to just below US$3 billion in 2024 at a compound annual growth rate (CAGR) of 21.2 per cent, according to research at IDC.
Patrick Filkins, senior research analyst for internet of things (IoT) and mobile network infrastructure at IDC, claimed that the growth expected in 2020, which is anticipated to reach double digits, will stay in the black even when considering the economic impact of COVID-19.
"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," he said.
"The inclusion of 5G products will also contribute, but will not materially affect the total market until 2021.”
Global 5G router and gateway growth hot spots include Australia, along with the US and other markets across the Asia Pacific and Japan (APJ) region.
In terms of LTE routers and gateways, the APJ region is expected to be the fastest growing regional market for these devices due to the continued expansion and densification of macro LTE networks.
Meanwhile North America will remain the largest consumer of LTE routers and gateways, according to the analysis.