5G Fixed Wireless Access market
The global 5G fixed wireless access market had touched the valuation of USD 400 million in 2018 and is expected to expand to the size of USD 7,553.87 million by 2024, reports Market Research Future (MRFR). It could obtain a CAGR of 70.75% during the forecast period (2018-2024).
Growth Boosters and Key Barriers
The impending launch of 5G networks has made way for the unprecedented growth of the 5G fixed wireless access market in the next couple of years. Some sources are of the view that the first commercial 5G network is going to be fixed wireless network type and will be using mmWave spectrum bands. This factor is likely to establish favorable grounds for the expansion of the 5G fixed wireless access market in the coming years.
FWA solutions enjoy immense demand in Wireless ISPs (WISPs) applications along with business & residential applications across developed countries. The rising number of applications could spur revenue potential of the market in the near future. Moreover, 5G fixed wireless access solutions find numerous applications across enterprises, corporation and governments, along the lines of surging demand for seamless connectivity, for primary and backup broadband. Apart from this, 5G fixed wireless access solutions find strong demand among the mobile operators combined with the accelerated need to offer backhaul for several mobile cell sites. Considering all the aforementioned points, the increasing penetration of FWA networks is undeniable, which could provide sustained opportunities for companies of 5G fixed wireless access solutions.
Few prominent trends that the market is experiencing at present include massive investments in research and development (R&D) coupled with field trials of 5G technology. On top of this, rising IoT and cloud-based services in conjunction with robust demand for technology convergence could work in favor of the market in the subsequent years.
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The worldwide market for 5G fixed wireless access has been segmented with respect to the offering, territory, application, and region.
Depending on the offering, the market has been split into hardware and services.
Territory-wise, the market has been segregated into urban, semi-urban, and rural.
With context to the application, the market is considered for residential, commercial, industrial, and government.
The 5G fixed wireless access market is spread across the primary regions of Asia Pacific, North America, Europe, along with the rest of the world (RoW).
North America has been identified as the largest market for 5G fixed wireless access, with respect to revenue as well as an investment-making standpoint. With the United States (US) and Canada at the vanguard of the market growth, North America boasts of the most engaged consumer base for 5G fixed wireless access compared to other regions. The region’s expected status quo of 5G fixed wireless access market is projected to remain unabated and could expand further with the surge in the present customer base.
The Europe market stands second in the worldwide market, in response to the rising adoption of connected devices like laptops, smartphones, smart devices, for residential and commercial applications. Also, soaring demand for high-speed internet connectivity coupled with the surging adoption of advanced technologies like the Internet of Things (IoT) millimeter-wave would benefit the regional market in the forthcoming years.
Asia Pacific invests massively in research and development of 5G technology, which could lead to tenacious market growth in the years ahead. Not only this, but the presence of renowned players striving for technological innovations will undoubtedly add to the market strength. Trade pundits predict that with the entry of new subscribers, the regional market could expand rapidly.
Significant players shaping the worldwide 5G fixed wireless access market include Cellular South, Inc. (C Spire) (US), AT&T Inc. (US), Huawei Technologies Co., Ltd (China), Mobile Telephone Networks (MTN) (South Africa), Verizon Communications Inc. (US), Samsung Electronics (South Korea), Telefonaktiebolaget LM Ericsson (Sweden), Mimosa Networks, Inc. (US), Cisco Systems, Inc. (US), Cohere Technologies, Inc. (US), Arqiva (Hampshire), Siklu Communication, Ltd (Israel), Orange SA (France), United States Cellular Corporation (US), Telefónica (Spain), Telus Corporation (Canada), Swisscom (Switzerland), Hrvatski Telekom (Croatia), Qualcomm Technologies (US), Nokia Corporation (Finland), to name a few.