5G Fixed Wireless Access Market worth $86,669 million by 2026 - Exclusive Report by MarketsandMarkets™
CHICAGO, Nov. 5, 2020 /PRNewswire/ -- According to the new market research report "5G Fixed Wireless Access Market with COVID-19 Impact Analysis by Offering (Hardware, Services), Operating Frequency (Sub–6 GHz, 24 GHz–39 GHz, Above 39 GHz ), Demography (Urban, Semi-Urban, Rural), Application, and Region - Global Forecast to 2026", published by MarketsandMarkets™, the market size is projected to grow from USD 503 million in 2020 to USD 86,669 million by 2026 it is expected to grow at a CAGR 135.9% from 2020 to 2026. The past decade has witnessed several improvements in network connectivity and related services. A number of SMEs that aim to have full control over their connectivity and provide multi-carrier support to their customers simultaneously require fast networks capable of carrying out high-speed data transmissions. 5G network technology is capable of offering sufficient bandwidth to support increasing data traffic. It offers 10 to 100 times more capacity and high-speed data services than that provided by 3G and 4G networks. Therefore, the increasing demand for high-speed broadband services is expected to drive the growth of the 5G fixed wireless access market in the near future.
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The evolution of 5G is projected to take fixed wireless access to a new level using a wide range of radio spectrum. This is expected to enable consumers to achieve major capacity gains and low-latency connectivity. Thus, 5G fixed wireless access is anticipated to enhance the performance capabilities of networks and offer high-speed network coverage than existing connectivity networks.
The increasing adoption of connected devices, such as smartphones, laptops, and smart devices, in several commercial and residential applications, such as distance learning, autonomous driving, multiuser gaming, videoconferencing, and live streaming, as well as in telemedicine and augmented reality, is expected to generate the demand for 5G fixed wireless access solutions to achieve extended coverage.
Services segment captures the largest market share
The services segment is projected to account major market share of the 5G fixed wireless access market in terms of value. Increased spectrum efficiency and low cost per bit are expected to strengthen the business cases of fixed wireless access and support its evolution toward 5G services. Along with network vendors bringing fixed wireless access technology, Ericsson (Sweden), Huawei Technologies Co., Ltd. (China), and Nokia (Finland) are offering fixed wireless as a last-mile broadband access solution.
5G fixed wireless access services are expected to witness an increased demand in coming years. Such services include 5G B2B private lines, which generate high average revenue per user (ARPU) and face little competition in the market at present. Despite their high service-level agreement (SLA) requirements, 5G fixed wireless access services are an attractive new market with good potential. They also eliminate the requirement of complex solution integrations and are already commercially available.
Browse in-depth TOC on "5G Fixed Wireless Access Market"
136 – Tables
48 – Figures
226 – Pages
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North America to hold the largest market share in 2020
North America is estimated to account for the largest market share, in terms of value, in 2020. North America is one of the leading markets for 5G in the world in terms of research and development, network design/deployment, and the presence of the key players. In North America, the US is considered to have the most engaged user base, which is expected to grow continuously with increase new subscribers. Full-fledged 5G implementation in North America is expected to fuel the market for on-demand video services.
The proliferation of 5G networks in the region is increasing owing to the presence of key players in North America. Mimosa Networks, Inc. (US), Inc. (US), Cellular South, Inc. (C Spire) (US), TELUS Corporation (Canada), AT&T Inc. (US), and Verizon Communications Inc. (US) are a few key companies in the 5G market that are actively participating in the development of 5G fixed wireless access solutions.
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