New York, Feb. 15, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Wireless Internet Services Global Market Report 2023" - https://www.reportlinker.com/p04442299/?utm_source=GNW
The global wireless internet services market will grow from $654.86 billion in 2022 to $704.47 billion in 2023 at a compound annual growth rate (CAGR) of 7.6%. 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 wireless internet services market is expected to grow to $921.97 billion in 2027 at a CAGR of 7.0%.
The wireless internet services market includes revenues earned by entities by providing wireless internet services that can be used to offer internet access services over a wireless communication network to consumers and businesses.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.
Wireless Internet service refers to the internet service that provides connectivity through wireless means. It provides Internet connectivity services to end-users and organizations over wireless communication networks.
The Asia Pacific was the largest region in the wireless internet services market in 2022.Asia Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the wireless internet services market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of wireless internet services are community hotspots and public hotspots.Community hotspots are open access networks that provide internet access to citizens in public places such as downtown.
The services are applied for education, financial services, healthcare, hospitality, retail, telecom and IT, transportation, others by enterprises, communication service provider and network operators, government institutions.
The government initiatives aiming at developing infrastructure is a key factor driving the growth of the wireless internet services market.With growing government initiatives and environmental campaigns taking center stage, technology providers and specialists have actively started simulating creative solutions based on technical modules for the design and growth of urban infrastructure in several regions.
For instance, in India, the successful execution of smart city projects is heavily dependent on technologies such as data connectivity, cloud, mobility, and sensors, all shaping IoT together.According to the Ministry of Electronics and IT, the government has increased the outlay for the digital India program by 23% to 3,958 crores for 2020-21 compared to actual allocation in the current fiscal.
The increase has been mainly on account of incentives to be given for electronic manufacturing, research, and development, development of manpower for the segment, cybersecurity, and promotion of IT and IT-enabled services. Therefore, government initiatives for smart city projects is expected to drive the growth of the wireless internet services market.
The security and privacy concerns are hampering the growth of the wireless internet services market.With an increase in the number of devices, many security and privacy concerns have emerged and every source, gateway, sensor, and smartphone has become a potential hacking target.
Any disruption to business processes can have a huge effect on the company as a whole.Connecting to free public Wi-Fi raises business risks caused by third-party interception of client data because hackers are able to position themselves between the employees who use the Wi-Fi and the point of contact.
Hackers can also use an unsecured Wi-Fi connection to spread malware, getting compromised apps on the computers and devices will make the company financially disruptive. Therefore, security and privacy concerns are expected to hinder the growth of the wireless internet services market.
The companies in the wireless internet services market are increasingly implementing Li-Fi (Light Fidelity) technology to improve their service offerings.Li-Fi or light fidelity uses light signals to transfer data between devices and produces a greater range than Wi-Fi, with transmission speeds of up to 224 gigabits per second.
Smart homes will rely on Li-Fi technology in the future because it is faster and more reliable as light cannot penetrate through walls, and the signal cannot be compromised from a remote location.For instance, in October 2020, GETAC, a Taiwan-based technology company, announced that it is introducing integrated LiFi technology run by pureLiFi to the tough market.
Customers from a wide range of professional sectors will soon be able to benefit from entirely robust durability and cutting-edge LiFi connectivity in a single device thanks to pureLiFi, opening up a plethora of potent new applications and use cases.
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 wireless 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 wireless internet services market research report is one of a series of new reports that provides wireless internet services market statistics, including wireless internet services industry global market size, regional shares, competitors with a wireless internet services market share, detailed wireless internet services market segments, market trends and opportunities, and any further data you may need to thrive in the wireless internet services industry. This wireless 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/p04442299/?utm_source=GNW
About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
__________________________
