The global 5G fixed wireless access market was estimated to reach a valuation of US$ 21.15 Million in the year 2022. With a rapidly surging CAGR of 39.5% from 2023 to 2033, this market is expected to reach US$ 29.5 Million by 2023 and US$ 823.43 Million by 2033.
Both residential and business customers can access the internet with the aid of the 5G fixed wireless connection. Instead of using fixed lines, 5G fixed wireless access makes use of wireless mobile network technologies. It enabled the quick and logical development of broadband service. It is becoming more and more common as a substitute for conventional fixed-line broadband technologies like cable or DSL, particularly in locations where installing wired infrastructure is either not feasible or excessively expensive.
Over the forecast period of 2023 to 2033, the rising adoption of cutting-edge technologies like machine-to-machine and the internet of things is anticipated to have an impact on the growth of the 5G fixed wireless access market. The market for 5G fixed wireless access is expected to increase significantly due to the rising need for fast internet connectivity, extensive network coverage, and low power consumption.
Additionally, the growing demand for high-speed internet connectivity and the increased usage of millimeter-wave technology in 5G fixed wireless access is projected to have a beneficial influence on the market's expansion. Additionally, it is anticipated that the increasing use of connected devices and the accessibility of highly skilled technical skills would lead to a big demand for 5G fixed wireless access and accelerate the growth of the 5G fixed wireless access market.
Another development that is influencing the market for 5G fixed wireless access is edge computing. Edge computing allows data processing to take place nearer to the data source, which can decrease network traffic and improve network latency. This can be especially useful for real-time applications that process data like virtual reality and driverless cars.
The significant demand for 5G fixed wireless access networks from various industries, rising interest in the development of 5G networks, and rising demand for IoT as well as cloud-based services are also anticipated to open up several new opportunities that will fuel the expansion of the 5G fixed wireless access market during the aforementioned anticipated period.
The need for 5G fixed wireless connectivity is also being driven by the increasing use of smart home appliances like voice assistants, smart thermostats, and security cameras. These gadgets need a dependable, lightning-fast internet connection, which 5G fixed wireless connectivity can deliver. Additionally, the market for 5G fixed wireless access may be impacted by changes in the law. The development of the 5G fixed wireless access market, for instance, may be impacted by issues like the availability of frequency for 5G networks and the rules governing the installation of 5G equipment.
Due to the full-fledged 5G adoption in North America, it is predicted that on-demand video services would grow, leading to North America holding the highest share of the worldwide 5G fixed wireless access market over the projection period. The market for these services is now expanding steadily. Companies like AT&T (USA), as well as Verizon (USA), are heavily investing in the telecom industry, but both of these firms want to diversify their revenue streams outside their core mobile services to compete more successfully in the internet services market. These elements are fostering the market's expansion.
A fixed copper or fiber broadband connection will likely only be chosen by less than half of homes by 2033, according to the current industry trend. Building fixed broadband infrastructure is not economically viable in many nations. The global market for 5G fixed wireless access is expanding as a result of the availability of gigabit speeds for a low cost and without any installation issues to users of 5G fixed wireless, particularly residential clients.
| Data Point | Key Statistics |
|---|---|
| Expected Market value in 2023 | US$ 29.5 Million |
| Expected Market value in 2033 | US$ 823.43 Million |
| Growth Rate (2023 to 2033) | 39.5% from 2023 to 2033 |
The next era of wireless technology 5G is expected to open new opportunities to life altering innovations. It shall allow new innovations to flourish and dramatically change the day-to-day lives of consumers. Major telecom giants are spending billions on upgradation of current network infrastructure and focused on implementation of new technologies in order to prepare for the next era of 5G fixed wireless access.
Transition towards 5G is gaining traction across the globe. This transition is majorly fueled by key steps being taken by the respective governments in the countries.
Major countries focused on implementation and integration of 5G fixed wireless access include USA, China, South Korea, Australia, India, and United Kingdom. In India, all industry stakeholders are actively involved in anattempt to commercially launch 5G at the earliest and telecom regulatory authority is simultaneously working on the spectrum plan for 5G focusing on global standardization.
Increasing adoption of advanced technologies such as the Internet of Things (IoT) and machine-to-machine (M2M) coupled with the growing use of millimetre-wave technology for 5G fixed wireless access is expected to drive the market growth. According to the European Commission, 5G standards are one of the five priority areas under the Digitizing European Industry initiative.
5G happens to be a key asset for European competitiveness, and sustainability and a major enabler for the implementation of future digital services.
5G runs on the same radio frequencies that are presently being used by consumers for the smartphones, satellite communications and Wi-Fi networks, but it empowers technology to go a lot further. Companies like Qualcomm and Ericsson happen to be at the forefront forimplementing emerging technologies such as 5G, IoT, edge computing and cloud network infrastructure.
5G fixed wireless access happens to be a lower cost wireless alternative for enhanced connectivity in comparison with the high costs of fiber deployment for broadband connectivity. One of the major trends driving the growth of 5G Fixed Wireless Accessmarket is the surge in demand high speed internet connectivity and need for broader internet coverage.
5G networks are expected to not only enable telecom companies to meet user demand for high speed data network, but also support high resolution video content along with AR/VR, while allowing telecom companies to counter the threat of OTT players who are greatly impacting telco revenues negatively in the past decade.
The increasing demand for higher speed internet across different age groups is anticipated to boost the market growth for 5G fixed wireless access across the globe.Moreover, growing adoption of connected devices, such as laptops, smartphones, and smart devices, across several residential and commercial applicationsis anticipated to further drive the demand for 5G fixed wireless access solutions.
Higher infrastructure related costs is one of the major factors responsible for hampering the market growth. Increased investments is a necessity to upgrade existing networks to deploy 5G. 5G infrastructures are expected to change the existing communication methods.
This involves replacement of existing components or installation of new ones such as gateways, access networks, and switches, among others,thus resulting in high capital requirements. Hence, along with high costs of infrastructures and the adverse impact of 5G technology on the environment are anticipated to hamper the growth of the 5G fixed wireless access market.
Key players such as
are actively involved in offering 5G fixed wireless access for different applications.
The 5G fixed wireless access providers are carrying out different expansion and innovation strategies for increasing their market share in the global 5G fixed wireless access market. Key players are entering into partnerships with other major players to expand their geographic presence in order to meet the increasing demand for 5G fixed wireless access.
Along with collaborations and partnerships, major companies operating in the market are also focused on innovations and implementations of new applications in order to offer advanced solutions and services to the end users.
Increasing adoption of 5G networks across different business segments is expected to act as an opportunity for the growth of the 5G fixed wireless access market. The 5G fixed wireless access network provides data transmissions at high rate, lower latency, and consistent connectivity, which are beneficial for different industry verticals.
For instance, in autonomous vehicles, the lower latency of 5G networks is critical for the implementation of safety systems while ensuring real-time vehicle-to-infrastructure and vehicle-to-vehicle communication.
Fixed wireless access technology is improving dramatically, while enabling much better performance and capabilities to match with wired communication. Some of the emerging technologies are leveraging development work LTE and 5G. Other spectrum bands also are emerging for fixed wireless access technology use, including TV white spaces and the citizens band radio service band among others.
Fixed wireless access deployments shall help in expanding and optimizing their networks across urban and densely populated areas. Whereas, in smart city applications, fixed wireless access can be useful in managing various applications such as smart parking, security surveillance, and traffic management among others.
India, Israel and the United States have started collaborating with each other in next-generation technologies and other developmental areas. The next-gen technologies shall include deployment of secure 5G communication networks. Therefore, the 5G fixed wireless access network plays avital role in meeting different requirements of applications across several industry verticals.
By the end of 2021, China is expected to launchan estimated 690,000 5G base stations that provide 5G signals to consumers across the country. China has already entered into the third stage of 5G testing while opening up new possibilities for transforming applications.
The market potential of 5Gfixed wireless access technology is anticipated to provide telecom operators a competitive edge over the growing challenges from the OTT players in the market.
Furthermore, taking a prominent role in the development of 5G technologies will allow China to gain a bigger share of the intellectual property behind the universal 5G standards, thus increasing its influence across the global. Likewise, the Chinese companies are anticipated to gain an added advantage on an international level in newer applications of the IoT and autonomous driving.
Chinese OEMs have started working with telecom operators to show ultra-high definition video transmission in real-time with a throughput of more than 800 Mbps as well as concluding the trial of the first ultra-high definition IPTV over 5G fixed wireless access in the world.
The COVID-19 pandemic has validated the necessity for fast, reliable and high speed connectivity. Due to the pandemic, there has been a growth in the remote working, virtual learning, online healthcare consultation, and online personal communication among others. Owing to this, there has been a sudden rise in the demand for high speed connectivity across domestic, commercial, and government applications.
Trends such as social distancing, work-from-home, and online education are primarily responsible for driving the growth of the 5G fixed wireless access market during this pandemic.
Even though the pandemic has resulted into a slowing down of global businesses and efforts being done in the global wireless industry in order to formulate different standards, the technology is proving to be beneficial in the fight against the impact of the COVID-19 acrossthe globe.
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