Sandy, Utah, USA, Jan. 16, 2023 (GLOBE NEWSWIRE) -- “According to the latest research study, the demand for global 5G Fixed Wireless Access Market size & share was valued at approximately USD 538.9 Million in 2021 and is expected to reach USD 2508 Million in 2022 and is expected to reach a value of around USD 23108.05 Million by 2030, at a compound annual growth rate (CAGR) of about 102.7% during the forecast period 2022 to 2030.”

The demand for this fixed wireless access will continue to grow in the coming years due to the high speed of data under a reliable network. The fixed access will provide minimal latency, which shall be one of the factors that will help in the market’s growth in the coming years. The use of 5G networks is expected to grow in the coming years as many people across the globe will use these services to access telemedicine in emergencies.

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Market Dynamics

Drivers

Increased use of smartphones, smart devices and laptops will help grow the market in the coming years. The Application of these services in the residential and commercial sectors will help grow the market during the forecast period. Live streaming, video conferencing and autonomous driving will drive the market growth. Increased augmented reality and growing demand for telemedicine applications will help generate more revenue through these connectivity solutions. This network will help provide larger bandwidth and better services than the 4G and the 3G networks. The market is expected to grow well in the coming years due to increased demand for high-speed connectivity.

Restraints

The existing methods which are used in communication will be altered due to the introduction of 5G infrastructure. The implementation of this infrastructure will grow rapidly as the government of the region increases the number of investments made them. Constant research and development activities will also help the better deployment of the infrastructure.

There has been an increase in the need for capital to change the infrastructure components as many things are incompatible. The switch gateways and the components used in routing need to be changed to deploy the 5G network. Apart from the cost factor, there shall also be a few environmental hazards that will restrain the market’s growth in the coming years.

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Opportunities

Many industries across the globe have an increased preference for the 5G network. As it provides consistency in connectivity and data transfer at a higher rate, the demand for these services will continue to grow in the coming years. The use of autonomous cars will drive market growth in the coming years period there has been a growth in the demand for the safety systems in these cars and connectivity between the vehicles and the infrastructure, due to which the demand for 5G network is expected to grow in the coming years.

Connected devices will benefit due to the use of a 5G network. The 5G network in the healthcare segment will provide major developments in the coming years. In emergencies, the demand for telemedicine will grow, and using the 5G network will help improve the efficiency of the services. It will also help increase the adoption of these services in the coming years.

Challenges

The use of the existing infrastructure for 5G network connectivity is not possible. There is no compatibility between the backhaul and fronthaul equipment. Due to this, the organizations will incur many costs for setting up the infrastructure. The use of advanced technologies will not be possible with the existing infrastructure.

Report Highlights

The sub-6 GHz segment is expected to have the largest market share in the coming years. The maximum use of this spectrum by the providers of the 5G network. This spectrum uses more as it provides better coverage and throughput. The spectrum is used the most in rural, urban, and suburban areas.

The semi-urban segment is expected to have a dominant position add these services will be adopted on a large scale by the people residing in the semi-urban regions across the world. The population of these regions is not dense. The wireless network will easily be accessible in these regions due to the use of the advanced antenna and receptors and transmitters that use high power. Due to this, not a lot of capital will be invested in these regions. The demand for these services is expected to grow in the coming years as this option is cost-effective, and the population will prefer it in these regions and is also flexible.

Based on Application, the demand for these services is expected to be more in the residential sector. Services are provided at a lower cost, end the speed is extremely high, due to which the demand for it is expected to be more in the residential sector. As there are no hassles with the installation, the market is expected to grow in the coming years. The increased use of smart devices, laptops, and smartphones will help grow the segment in the coming years.

Regional Snapshots

The North American region is expected to grow well in the coming years due to the major market players in this region. There will be a 5G network in this nation, and increased trade options of this network will lead to the market’s growth in the coming years. As the number of subscribers is expected to grow in the United States, the demand for these services will continue to grow.

The Asia Pacific region is expected to have the largest 5G Fixed Wireless Access market share in the coming years. As government policies are favorable, there shall be increased deployment of these fixed wireless networks, especially in the Asia Pacific region. The policies adopted by the government will promote the market in the semi-urban, urban and rural regions.

Report Scope

Feature of the ReportDetails
Market Size in 2021USD 538.9 Million
Projected Market Size in 2030USD 23108.05 Million
CAGR Growth Rate102.7% CAGR
Base Year2021
Forecast Period2022-2030
Prominent PlayersNokia (Finland), Samsung Electronics (South Korea), Huawei Technologies Co. Ltd. (China), Ericsson (Sweden), Mimosa Network Inc. (U.S.), Siklu Communication (Israel), Vodafone (U.K.), and Others
Key SegmentBy Offering, Operating Frequency, Demography, Application, and Region
Report CoverageRevenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional ScopeNorth America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
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Recent Development

Segments covered in the report

By Offering

By Operating Frequency

By Demography

By Application

On the basis of Geography

North America

Europe

Asia Pacific

The Middle East & Africa

Latin America

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