Press release
5G Fixed Wireless Market Size Is Predicted To Touch US$ 121 Billion By 2032 - Says Fact.MR
By 2032, the market is expected to grow by 117.8 billion dollars in absolute terms. The growing adoption of modern technologies such as the Internet of Things (IoT) and machine-to-machine communication can be attributed to the market's expansion (M2M). Furthermore, the increasing use of millimeter-wave technology for 5G fixed wireless access is expected to boost the 5G fixed wireless access market size during the forecast period.
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The global 5G fixed wireless access market is estimated to secure US$ 121 Billion by 2032, with a whopping CAGR of 43.6%. The market is projected to hold a market value worth US$ 3.3 Billion in 2022.
The market is expected to garner absolute dollar growth of US$ 117.8 Billion by 2032. Expansion of the market can be attributed to the growing adoption of modern technologies like the Internet of Things (IoT) and machine-to-machine (M2M). Also, increasing application of millimeter-wave technology for 5G fixed wireless access is anticipated to augment the 5G fixed wireless access market size in the forecast period.
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Major Factors Boosting the Global 5G Fixed Wireless Access Market
Increasing Adoption of Modern Technologies such as the Internet of Things and Machine-to-Machine to Boost the Market
The growing importance of M2M and IoT has resulted in their increased adoption in various sectors, which is likely to benefit the market in the forecast period. Growing adoption of 5G technology and rapid development in wireless communication is projected to support the market growth in the forecast period.
Also, the growing demand for connected devices for long-range connectivity is projected to boost the growth of the market for M2M/IoT communication equipment, such as; livestock monitoring, smart streetlights, and smart parking systems. The rapid rise in demand for M2M technology is expected to favor the adoption of connected devices, thereby, augmenting the market size in the forecast period.
Evolving economies such as; India, and China, have recognized the importance of M2M and are taking initiatives to enhance the penetration of M2M, which will benefit the market in the forthcoming years. For instance, the Indian government commenced the Digital India campaign to highlight the importance of digitization.
The movement propelled the demand for smart technologies. As per FICCI, India is expected to have 5 Billion devices by 2022. Also, growing favorable initiatives by players can benefit the market. For instance, in May 2022, Wireless Tech and Semiconductor, Qualcomm India, announced a vacancy for 100 techies for the job role that would support the development of 5G WLAN, and 5G Fixed Wireless Access.
Such initiatives, taken by developing countries are expected to benefit the industry in the forecast period.
Growing awareness about the benefits offered by M2M connected is likely to play an important role in strengthening the market in the coming time. Also, its benefits have been recognized by various sectors such as; automotive, fleet management, traffic control, and security, among others. Owing to the aforementioned factors, the market for the 5G fixed wireless access market is expected to flourish in the coming time.
Competitive Analysis
Players in the global 5G Fixed-Wireless Access market are undertaking a variety of initiatives to strengthen their market position. Players make ongoing efforts to provide unique services. The global market for 5G Fixed Wireless Access is expected to be highly competitive as a result of such efforts.
In June 2021, Ooredoo and Nokia launched super-fast and dependable 4G and 5G Fixed Wireless Access throughout Oman.
In August 2021, Ericsson announced a collaboration with Mediacom Communications to expand broadband access in rural America via FWA. Mediacom is able to provide FWA high-speed internet services up to nine miles from each tower location thanks to Ericsson RAN solutions. In exchange, Mediacom will be able to provide broadband to thousands of underserved homes and businesses in rural communities at a low cost.
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Key Segments Profiled in the 5G Fixed Wireless Access Market
Global 5G Fixed Wireless Access Market by Offering :
5G Fixed Wireless Access Hardware
5G Fixed Wireless Access Services
Global 5G Fixed Wireless Access Market by Operating Frequency :
SUB-6 GHz 5G Fixed Wireless Access
24 GHz-39 GHz 5G Fixed Wireless Access
Above 39 GHz 5G Fixed Wireless Access
Global 5G Fixed Wireless Access Market by Demography :
5G Fixed Wireless Access in Urban Demography
5G Fixed Wireless Access in Semi-Urban Demography
5G Fixed Wireless Access in Rural Demography
Global 5G Fixed Wireless Access Market by Application :
Residential
Commercial
Industrial
Government
Global 5G Fixed Wireless Access Market by Region :
North America
Europe
APAC
MEA
Latin America
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