New York, United States , April 17, 2023 (GLOBE NEWSWIRE) -- The Global 5G Fixed Wireless Access Market Size is to grow from USD 22.59 Billion in 2021 to USD 247.9 Billion by 2030, at a Compound Annual Growth Rate (CAGR) of 30.5% during the forecast period. The major factors driving the market growth are the rising demand for high-speed internet, advancements in 5G technology, the rise of remote working, and the expansion of 5G network coverage.
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With the emergence of 5G, the advancement of technology resonates with fixed-line service expectations and pricing strategies. Wired broadband alternatives can be delivered quickly and affordably using 5G Fixed Wireless Access in the lower frequency band of the radio spectrum. As a result of technological advancements ranging from LTE to 5G, global demand for fixed wireless access is increasing. Private 5G networks, which provide enhanced security, customizability, low latency, increased network capacity, and enhanced reliability, are also expected to drive demand for 5G Fixed Wireless Access. The development of the Internet of Things (IoT) and smart home technologies is also driving demand for ultra-fast broadband services, which is expected to drive the 5G FWA market growth.
The service segment is dominating the market with the largest revenue share over the forecast period.
On the basis of offering, the global 5G fixed wireless access market is segmented into hardware and service. Among these, the service segment is dominating the market with the largest revenue share of 72% over the forecast period. Globally, mobile broadband networks have been upgraded to meet the growing demand for the Internet, contributing to the growth of this segment. As these services become more widely available, the services segment of the 5G FWA market is expected to grow and contribute a significant market share in the long term.
Browse key industry insights spread across 200 pages with 135 market data tables and figures & charts from the report on "Global 5G Fixed Wireless Access Market Size, Share, and COVID-19 Impact Analysis, By Offering (Hardware, Service), By Demography (Urban, Semi-urban, Rural), By Operating Frequency (Sub 6GHz, 24-39 GHz, Above 39 GHz), By Application (Residential, Commercial, Industrial, Government, Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2021 – 2030." Get Detailed Report Description Here:
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The urban segment accounted for the largest market share over the forecast period.
On the basis of demography, the global 5G fixed wireless access market is segmented into urban, semi-urban, and rural. Among these, the urban segment is dominating the market and is going to continue its dominance over the forecast period. A number of key variables are driving the expansion of 5G FWA solutions in urban areas, including rising demand for ultra-fast internet access, the growing popularity of smart city development, an increasing number of IoT devices, and trends in 5G technology.
The 6 GHz segment accounted for the largest revenue share of more than 45% over the forecast period.
On the basis of operating frequency, the global 5G fixed wireless access market is segmented into sub 6 GHz, 24-39 GHz, and above 39 GHz. Among these, the 6 GHz segment is dominating the market with the largest revenue share of 45% over the forecast period. The ability of the sub-6 GHz operating frequency to provide improved coverage through building and wall structures, as well as better connectivity in both indoor and outdoor settings, is a major factor contributing to the segment's growth.
The commercial segment accounted for the largest revenue share of more than 37% over the forecast period.
On the basis of application, the global 5G fixed wireless access market is segmented into residential, commercial, industrial, government, and others. Among these, the commercial segment is dominating the market with the largest revenue share of 37% over the forecast period. The increasing IoT technology and the exponentially growing use of video conferencing solutions are the leading factors influencing the segment's growth. Furthermore, as remote work becomes more common, video conferencing is being used more frequently in professional settings.
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North America dominates the market with the largest market share over the forecast period.
North America is dominating the market with more than 32.5% market share over the forecast period, owing to the rapidly increasing 5G infrastructure investments will be a primary driver of market growth over the forecast period. Asia Pacific, on the contrary, is expected to grow the fastest during the forecast period. Rising demand from emerging economies such as China, Japan, India, and South Korea is propelling the region's 5G fixed wireless access market growth, owing to the region's fastest-growing and leading industrialized economies.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global 5G Fixed Wireless Access Market include Huawei Technologies Co., Ltd., Telefónica S.A., Cohere Technologies, Inc., Ericsson, Nokia, CableFree, AT&T Inc., Telus Corporation, Samsung Electronics, Inseego Corp., Orange S.A., Qualcomm Technologies, Inc., Intel Corporation, MediaTek Inc., CommScope, Verizon Communications Inc. Key players are implementing a variety of methods, including mergers and acquisitions, strategic partnerships and contracts, and the development, testing, and introduction of more effective 5G Fixed Wireless Access technologies.
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Key Market Developments
On January 2023, Spark, together with Ericsson and Red Hat today announced the successful completion of a 5G Standalone (5G SA) trial in New Zealand. The 5G SA trial was underpinned by Ericsson’s cloud-native 5G Core running on Red Hat OpenShift, integrated with Spark’s 5G Fixed Wireless Access Network (FWA) to test enhanced wireless broadband. The trial successfully confirmed and validated the technical capabilities of 5G Standalone technology on Spark’s network.
In August 2022, Inseego Corp., a leader in 5G edge cloud solutions, today announced Verizon has certified Inseego’s 5G fixed wireless access (FWA) portfolio to include C-Band spectrum connectivity across their network. Verizon customers can now harness the power of the 5G mid-band spectrum to get the speed, reliability, and flexibility they need for consumer, business, and industrial environments with Inseego’s industry-leading portfolio of indoor and outdoor 5G FWA solutions.
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