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5G Fixed Wireless Access Market - By Offerings (Hardware, Software), By Application (Residential, Commercial, Government, Industrial), By Demography (Urban, Semi-Urban, Rural), Forecast, 2024 – 2032
- Report ID: GMI5485
5G Fixed Wireless Access Market Size
5G Fixed Wireless Access Market is projected to grow at significant CAGR from 2024 to 2032, due to the increasing need for high-speed internet connection and the growing adoption of advanced technologies, including the IoT and machine-to-machine (M2M). 5G fixed wireless access (FWA) allows network providers to offer high-speed broadband to rural and suburban areas for supporting business and home applications where fiber is expensive to lay and maintain.
According to IBEF, the wireless subscriptions in India stood at 1,143.57 million in June 2023. This growing internet subscription rate is projected to increase the demand for 5G FWA. The ongoing evolution of 5G and the rising adoption of smartphones along with the mounting commercial and residential applications, such as video conferencing, distance learning, and remote working will positively influence the market expansion. The growing adoption of millimeter-wave technology for 5G FWA is also creating new opportunities for the industry growth.
5G Fixed Wireless Access Market Trends
The adoption of advanced fronthaul/backhaul solutions to address compatibility issues with traditional networks are enabling smoother transitions, adding to the deployment of 5G FWA solutions. The focus on overcoming challenges related to high component prices in the millimeter-wave spectrum are facilitating the development of cost-effective manufacturing techniques and solutions for non-line-of-sight problems. Telecom companies are increasingly deploying more towers and leveraging modern technology-based equipment to enhance network coverage and efficiency.
5G Fixed Wireless Access Market Analysis
The industrial application segment will retain a sizable portion of the 5G fixed wireless access industry by 2032, to meet the high-bandwidth and low-latency connectivity needs for Industrial Internet of Things (IIoT) applications. 5G FWA can offer industrial automation systems with quick and dependable connectivity for enabling real-time monitoring and control of machinery, supply chain operations, and production processes. It can also facilitate critical industrial communications like remote machine operation and maintenance for reducing downtime and increasing production. Rising use in industrial environments for improving worker safety through real-time communication and remote monitoring will add to the segment growth.
Based on demography, the 5G FWA industry from the urban segment is expected to grow significantly till 2032 due to dense population, a significant number of small cellphone deployments, and the high demand for broadband services. In urban spaces, 5G FWA can offer residential as well as business customers with high-speed internet access without the use of conventional wired broadband connections. This can be used to improve connectivity in public areas, such as parks, shopping malls, and transportation centers. Rising demand for dependable & quick internet access by service providers and network operators is also anticipated to expand the market in urban areas.
North America 5G fixed wireless access market is projected to expand at significant rate from 2024 to 2032. This can be attributed to the increasing demand for high-speed internet connectivity in both urban and rural areas. Rapid advancements in 5G technology are offering faster speeds and lower latency, further encouraging the deployment of fixed wireless access solutions. The growing number of connected devices and applications requiring reliable internet access is also fueling the product adoption. As per reports, the global network of IoT devices, encompassing tools, toys, devices, and appliances, is expected to exceed 207 billion connections by the end of 2024. Rising government initiatives to bridge the digital divide and improve broadband connectivity are driving investments in 5G fixed wireless infrastructure across the region.
5G Fixed Wireless Access Market Share
Leading players involved in 5G fixed wireless access industry are heavily investing in R&D to broaden their product offerings, introduce new products, forging contracts, acquiring firms, and collaborating with other entities to expand their global presence.
Some of the major 5G fixed wireless access companies are:
- Qualcomm Technologies, Inc.
- Ericsson, Mimosa Networks, Inc.
- Cohere Technologies, Inc
- Verizon Communications Inc.
- Cellular South, Inc.
5G Fixed Wireless Access Industry News:
- In December 2023, HFCL, a telecom equipment manufacturer, launched its in-house designed and developed 5G fixed wireless access consumer premises equipment (CPE) for telecom operators.
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