ID: MRFR/SEM/6092-HCR | February 2021 | Region: Global | 100 pages
The global 5G fixed wireless access market is expected to grow from USD 400 million in 2018 to USD 7,553.87 million by 2024, at a CAGR of 70.75%.
The 5G fixed wireless access market has been witnessing significant growth across the globe. The growth factors include an increase in demand for high-speed internet connectivity and the growing adoption of advanced technologies such as the Internet of Things (IoT) millimetre-wave in 5G FWA. Furthermore, the rise in adoption of connected devices, such as smartphones, laptops, smart devices, for commercial and residential applications drive the demand for 5G FWA services to support extended coverage with reduced latency.
By offerings, the market has been segmented into hardware and services. In 2018, the services segment was the largest contributor to the 5G fixed wireless access global market and a similar trend is expected to be witnessed during the forecast period. By territory, the market has been segmented into urban, semi-urban, and rural. The semi-urban area segment is expected to grow at the highest CAGR during the forecast period owing to the growing demand for higher spectrum by the end-users and ease to replace wireline infrastructure with a new wireless network node.
Based on application, the market has been segmented into residential, commercial, industrial, and government. The commercial segment is estimated to register the highest CAGR during the forecast period. However, the residential segment is estimated to dominate the market throughout the forecast period owing to its benefits such as economic viability and high-speed connectivity at a competitive pricing. As per the International Telecommunication Union data, nearly 970 million households across the globe have either no or poor fixed broadband connectivity which creates an opportunity for FWA deployments.
The key players profiled in the 5G fixed wireless access global market research report are -
Telefonaktiebolaget LM Ericsson (Sweden), Samsung Electronics (South Korea), AT&T Inc. (US), Huawei Technologies Co., Ltd (China), Qualcomm Technologies (US), Verizon Communications Inc. (US), Nokia Corporation (Finland), Siklu Communication, Ltd (Israel), Mimosa Networks, Inc. (US), and Cisco Systems, Inc. (US).
The major players constantly focus on growth strategies such as partnerships, mergers, acquisitions, and product launches to enhance their product offerings and expand their market reach. For instance, in October 2018, Verizon Communications Inc. launched 5G Home mmWave fixed–wireless access service in the US. This launch has enabled the company to expand its broadband footprint further to complement its existing FiOS FTTH deployment.
Source: MRFR Analysis
5G fixed wireless access market has been segmented based on offering, territory, application, and region.
By offering, the market has been segregated into hardware and services.
Based on territory, the market has been segmented into urban, semi-urban, and rural.
By application, the market has been segmented into residential, commercial, industrial, and government.
By region, the market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world.
The global market for 5G fixed wireless access industry is estimated to grow at a significant rate during the forecast period from 2019 to 2024. The geographical analysis of the 5G FWA market is done for North America, Europe, Asia-Pacific, and the rest of the world.
North America, followed by Europe, is expected to dominate the 5G FWA market from 2019 to 2024 owing to the presence of advanced IT infrastructure, a high concentration of market players in the region, and availability of proficient technical expertise. In North America, the US is estimated to register the highest CAGR owing to the rapid pace of 5G implementation and the increasing user-base.
The current focus of key market players is on the launch of 5G wireless technology-based products so as develop a strong ecosystem for offering fixed and mobile 5G wireless services. These players have opted for partnerships and new product launches as their key organic growth strategy to further strengthen their market position. In 2018, C Spire collaborated with Mimosa Networks to design a 5G fixed wireless solution that further extends the broadband internet access service coverage in Mississippi.
Frequently Asked Questions (FAQ) :
At 70.75%, the worldwide 5G fixed wireless access market can value at USD 7.5 USD Bn.
Samsung Electronics (South Korea), Huawei Technologies Co., Ltd (China), AT&T Inc. (US), and Qualcomm Technologies (US) are some prominent companies in the 5G fixed wireless access market.
commercial, residential, government, and industrial are areas of application of 5G fixed wireless access.
The growing demand for wireless connected devices can push the global 5G FWA market.
Key players are focused on building a suitable infrastructure to for a successful run of 5G, which can benefit the market.