LTE base station market to hit $6.37 billion this year -

The LTE push stands to make some serious money for base station providers and a range of other outfits involved in the process.

According to a Visiongain report, the world could spend as much as $6.37 billion on LTE gear this year.

Although 3G services were rolled out just five years ago, the mobile boom has generated more demand for bandwidth than the "old" standard can handle. That means 4G is expanding, quick, from Ethiopia to Europe. The leading LTE base station vendors are Nokia-Siemens Networks, Ericsson, Alcatel-Lucent, Huawei, ZTE, Samsung and NEC. Needless to say, the new wireless investment cycle is bound to have a trickle down effect on other companies.

As far as carriers go, the global LTE market is set to nearly double this year. Revenues will hit $10 billion for the first time this year and there is plenty of untapped potential. The US, Japan and South Korea lead the way, but LTE expansion in BRIC economies has been sluggish, according to Misco.

The number of commercial LTE networks currently stands at 145, active in 66 countries. The number of LTE subscribers is expected to pass 569 million by 2017.