New York, Feb. 15, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Broadband Internet Services Global Market Report 2023" - https://www.reportlinker.com/p04442300/?utm_source=GNW
The global broadband internet services market will grow from $389.62 billion in 2022 to $404.65 billion in 2023 at a compound annual growth rate (CAGR) of 3.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The broadband internet services market is expected to grow to $470.49 billion in 2027 at a CAGR of 3.8%.
The broadband internet services market includes revenues earned by entities by providing broadband internet services which can be used for voice over internet protocol (VoIP), internet TV, smart home applications, remote online education, virtual private LAN service, interactive gaming, etc.Broadband internet services can be accessed through wireless, fiber cable, satellite, etc.
The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
Broadband Internet service is a type of Internet service that provides transmission of large bandwidth data over a high-speed Internet connection.
The Asia Pacific was the largest region in the broadband internet services market in 2022.Asia Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the broadband internet services market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of broadband internet services are C band, Ku band and Ka band.C-band refers to the portion of the electromagnetic spectrum reserved for satellite transmissions with frequencies ranging from 4GHz to 8GHz.
The services are applied for VoIP (voice over internet protocol), internet TV, smart home application, remote education, virtual private LAN service, interactive gaming, VPN on broadband by business, household and other end users.
Increasing demand for consumer broadband is driving the broadband internet services market.The rising application of internet in communication, sharing information, education and entertainment sector is supporting the growth of consumer broadband.
Also, government is playing a major role in stimulating demand for broadband internet services by providing better public online services in every sector, encouraging rural and remote areas to use the broadband internet services, establishing privacy and quality standards, etc. According to the data reportal newsletter, the total active internet users at the end of January 2019 was 4.388 billion whereas in January 2020 the total number of active internet users upsurge to 4.54 billion. The usage of voice search, voice commands, smart home devices, gaming-related activities, online content activities, streaming TV, etc. are more responsible for an increase in the demand for consumer broadband services.
The high costs of fiber optic cable restrains the broadband internet services market.The fiber optic is the latest technology that gives reliability and symmetrical speed options, unlike other internet services for the consumers.
The cable or copper installation contributes to the high cost of fiber optic broadband services compared with other internet services.The fiber optic line installation is more complicated and the cost estimation is difficult for every building.
According to the Federal Communications Commission (FCC), the minimum fiber optic deployment costs should be $5000 per user.The pricing is also mainly varying on the services providing by broadband entities.
The fiber optic connection provides fast and symmetrical speeds, the cost of installation and its maintenance has become a major challenge for broadband internet service providers.
Players in the broadband internet service industry are focusing on advancing digital infrastructure and services to serve its customers.Digital infrastructure is more focused on digital economic activities and technological applications.
The digital infrastructure helps for the digital development of a country.According to the Asian Infrastructure Investment Bank (AIIB) report, the digital infrastructure helps to expand the internet connectivity and supports to establish the data centers to provide digital services.
The emerging markets like India, Pakistan, etc. are more focused on mobile broadband infrastructure than fixed broadband internet services infrastructure whereas the developing and developed countries are concentrating on coverage of universal mobile broadband and superfast fixed broadband infrastructure. Demand in broadband internet services is driving the market to double the broadband speed and expand the internet connectivity where the companies and government are trying to increase the advancements in digital infrastructure and services.
In October 2020, NWIC Inc., a Canada-based internet service provider acquired Last Mile Wireless Internet Inc. (LMWI) for an undisclosed amount. With the acquisition, NWIC is expected to become the Niagara Region’s largest rural internet service provider, with expanded coverage and complementary technologies. Last Mile Wireless Internet Inc. (LMWI) is a Canada-based internet service provider.
The countries covered in the broadband internet services market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The broadband internet services market research report is one of a series of new reports that provides broadband internet services market statistics, including broadband internet services industry global market size, regional shares, competitors with a broadband internet services market share, detailed broadband internet services market segments, market trends and opportunities, and any further data you may need to thrive in the broadband internet services industry. This broadband internet services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p04442300/?utm_source=GNW
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