There will be 371 million LTE (4G) subscribers worldwide by 2015, according to a report from research firm Idate.
Based on modelling results, the report predicts the total cumulated investment in LTE networks between 2011 and 2018 will come to approximately €335m (£281.68m).
However, this predicted growth is largely going to be driven by investment in the US and Asia. Idate also foresees uptake of LTE in China and India in the near future.
Idate's forecast chimes with discussions last week at NetEvents, where network experts suggested that 4G in Europe will take up to 10 years to catch on.
Nigel Wright, vice-president of wireless product marketing for Spirent Communications, argued that it is not cost-effective at the moment for mobile operators in Europe to make the switch.
"The rollout of 4G is going to vary wildly in Europe and will as a result be a rather patchy picture for some time yet," said Wright.
"In Western Europe a lot of operators are going to continue to follow the HSPA roadmap and HSPA will continue to dominate by all projections for the next 10 years."
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