5g Fixed Wireless Access Fwasize and Trends by 2031
Market Insight
The global demand for 5G Fixed Wireless Access (FWA) market was valued at over USD 1365.4 Million in 2021 and is expected to reach above USD 73,846.9 million in 2028, growing at a CAGR of above 99.6% between 2022 and 2028. Increasing adoption of advanced technologies such as machine-to-machine (M2M) and Internet of Things and increasing use of millimeter-wave technology for 5G fixed wireless access are predictable to drive the growth of the 5G FWA market.
5G is a next generation telecom network technology that provides broadband access. Beyond improved speed, it is also expected to support massive demand of IoT ecosystem where it can serve communication needs of connected devices worldwide. It has revolutionized the field of wireless networking and has enhanced machine-to-machine devices connectivity management. Fixed wireless access (FWA) is the practice of accessing internet or an interactive network on a fixed wireless webs. It is a form of broadband data communication that is executed between two fixed positions - connected over fixed wireless contact equipment and devices. Fixed wireless access (FWA) makes it possible for the network operators to provide broadband services with ultra-high- speed to the suburban and rural areas. It supports business and home applications where laying and maintaining fiber is extremely costly.
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5G Fixed Wireless Access (FWA) Market Dynamics
Drivers
Growing Demand for High-Speed Internet Connectivity and Broad Network Coverage
The demand for high-speed internet connectivity is at an all-time high majorly due to increasing smartphone penetration worldwide. As per Pew Research Centre data for 2018, about 81% people of the U.S. have smartphones, around 66% of Japanese inhabitants and almost 24% of Indian people own a smartphone. Activities such as online gaming use VR headsets to enhance gaming experience, video conferencing, application based entertainment via Netflix and amazon is driving the need for smartphones. The online gaming industry is experiencing high growth due to launch of new interactive and theme based games. Most of these games require multi user setup which needs reliable high-speed internet connectivity. An exponential rise in the number of smartphones globally will have a direct impact on the demand for high speed internet connectivity. Moreover, increasing adoption of smart devices will require broad network coverage. These factors will definitely influence the demand for global 5G Fixed Wireless Access (FWA)
Rising acceptance of Advanced Technologies Such as Machine-To-Machine (M2M)/Internet of Things (IoT)
Machine-to-machine communication is the communication or exchange of data between two machines. The introduction of wireless technology has made M2M communication much simpler and assisted more applications to be linked. Therefore, increasing adoption of machine-to-machine communication is also driving the growth of global 5G fixed wireless access (FWA) Market.
Growing demand for connected devices for long-range connectivity is predictable to impel the growth of the market for M2M/IoT communication devices, such as smart streetlights, livestock monitoring devices, smart meters, and smart parking systems. The growth of M2M technology is expected to increase the adoption of connected devices. Also, Growing consciousness about the benefits offered by M2M connected is probable to play an vital role in strengthening the market in future.
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Restraints
High initial investments
High initial investments are predictable to have an adverse effect in increase the market in future. Lack of co-ordination of 5G frequency bands in different regions is one of the major issues related to the market growth. With increasing cyber-attacks, security is one of the major challenges for wireless communication. The 5G network has end-to-end encryption techniques developed that enables secure communication between devices. Additional technologies are required for the smooth operation of devices in the network. These require high amount of investments.
Opportunities
Remarkable Progress in Telecommunications and Networking Technologies
The market for 5G fixed wireless access (FWA) will have substantial growth opportunities in the future. The mobile operators will be able to deploy, offer or manage services both in licensed and unlicensed spectrum. This can be implemented under licensed spectrum, unlicensed spectrum and shared spectrum. The operators will have to dedicate a portion for private networks and spectrum may be underutilized in the industrial area. On the other hand, the unlicensed spectrum and shared spectrum is anticipated to generate new opportunities and enlarge the ecosystem because it will create new market and vertices, unlock more spectrum and new deployment scenario.
Improved demand for 5G FWA networks from different industries
Growing demand for 5G FWA in various sectors owing to its benefit is expected to provide significant opportunities for expansion in the future. In smart cities increased demand of wireless sensors that are useful for varius services and application such as traffic management, smart parking, regulating environmental and pollution, and security surveillance. Such factors are expected to benefit the market in the upcoming years. Residential consumers are anticipated to generate significant demand for high-speed and low-cost internet, which have pave the way for developing FWA technologies. Furthermore, use of 5G in a variety of sectors such as; healthcare, automobile, telemedicine, and various business segments can develop the market size in the consideration period.
5G Fixed Wireless Access (FWA) Market Segmentation
The global 5G fixed wireless access (FWA) market is segmented on the basis of demography, Offering, frequency, application, end-user and region. By offering, the market is segmented into hardware and services. Services segment accounted for the largest share owing to increasing adoption of connected devices like laptops, smartphones, and smart devices.
On the basis of demography, the market is segmented into urban, semi-urban, and rural. Urban segment accounted for the largest share by reason of high use of internet for personal as well as commercial purpose. The semi-urban is expected to the second leading segment in this market and its accounted for 21.02% of the global revenue share in 2021.
Based on frequency the market is segmented into SUB-6 GHZ, 24 GHZ-39 GHZ, Above 39 GHZ. sub-6 GHz segment accounted for the largest share. The anticipated growth rate is 42.8% during the time period from 2022 to 2028. ne of the key reasons for the growth of this segment is that majority of the telecommunication operators have deployed 5G networks in their sub–6 GHz frequency spectrums.
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By Application, the 5G Fixed Wireless Access (FWA) is bifurcated into internet of things (IoT), broadband internet, pay TV, and others segment. In 2021, the broadband internet segment was the largest revenue generator, and is predictable to grow at a CAGR of XX% during the forecast period. The internet of things (IoT) is the second leading segment in this market due to increasing adoption of IoT and its accounted for 10.45% of the global revenue share in 2021. On the basis of end user, the market is segmented into industrial, residential, commercial, and government. The Commercial segment dominated the global industry in 2021 and accounted for the highest revenue share of more than 58.36% of the overall revenue. Industrial segment is probable to grow at highest CAGR during the forecasted period due to implementation of machine-to-machine communication.
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