LONDON, June 15, 2023 (GLOBE NEWSWIRE) -- As per The Business Research Company’s In-Building Wireless Market Report 2023, the market will grow from $13.3 billion in 2022 to $14.9 billion in 2023, at a compound annual growth rate (CAGR) of more than 12%. Further, the market size will reach $23.5 billion in 2027, at a CAGR of more than 12%. Asia-Pacific held the largest in-building wireless market share in 2022.
The demand for smartphones plays a crucial role in driving the growth of the in-building wireless industry. Smartphones have become an integral part of everyday life, offering various functionalities such as internet browsing, software applications, and operating systems. In-building wireless technology facilitates the distribution and enhancement of wireless connections within office and residential buildings.
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Major in-building wireless companies are Nokia Corporation, Telefonaktiebolaget LM Ericsson, Huawei Technologies Co. Ltd., NEC Corporation, Axell Wireless Ltd., Comba Telephone Systems Holdings Ltd., SOLiD Technologies, Samsung Electronics Co. Ltd., Fujitsu Limited, and Verizon Communications Inc.
A key trend in the market is the emphasis on product innovations. Companies operating in the in-building wireless sector are continuously developing and introducing innovative products to strengthen their market position.
For instance, in February 2020, CommScope introduced open-cell solutions, such as open interfaces and virtualized RAN functions, to enhance the deployment of 5G networks within organizations. By utilizing the latest open RAN and management frameworks, the advanced OneCell solution offers wireless services within buildings.
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The global in-building wireless market is segmented as -
1) By Component: In-Building Wireless Infrastructure, In-Building Wireless Services
2) By Venue: Large venue, Medium venue, Small venue
3) By Business Model: Service Providers, Enterprises, Neutral Host Operators
4) By End Users: Government, Manufacturing, Transportation and logistics, Education, Retail, Hospitality, Healthcare, Other End Users
The global in-building wireless market report serves as a valuable resource for industry stakeholders, investors, and decision-makers, providing them with actionable insights into the global in-building wireless market. By offering a comprehensive overview of market trends, growth drivers, and key players, this report equips readers with the necessary knowledge to make informed business decisions, foster innovation, and seize potential opportunities in this rapidly evolving market.
In-Building Wireless Global Market Report 2023 by The Business Research Company provides insights on the in-building wireless market size, in-building wireless market segments, in-building wireless market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.
The Business Research Company has published over 5,000+ industry reports, covering more than 2,500+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
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