The 5G Fixed Wireless Access Market is expected to project a compound annual growth rate (CAGR) of 75.4 percent in 2030, according to Reportlinker. Meanwhile, the market is projected to surpass $90 billion by 2030, compared to $500 million in 2020.
“Growing demand for high-speed internet access coupled with superior broadband coverage that has minimal power consumption and latency is due to the growth of this sector,” the Reportlinker said in its report. “Furthermore, the increasing introduction of superior technologies such as the Internet of Things (IoT)/machine-to-machine (M2M) millimeter-wave deployed through the 5G FWA also contributes to the growth of the global market.
“In addition, the growing demand for faster internet connectivity among customers is spurring the demand for fixed wireless access with efficient connectivity due to the increasing data size and the increase in the number of devices connected to the system.”
Market research solution Reportlinker recently announced the release of its latest report, 5G Fixed Wireless Access Market: Segments: By Type ; By Demography ; By Application ; and Region – Global Analysis of Market Size, Share & Trends for 2014 – 2020 and Forecasts to 2030. The comprehensive report offers projections on 5G wireless connectivity’s global impact in the coming years, as well as demand and who will benefit from the 5G wireless the most.
Smart cars, healthcare spur adoption
The rising number of sectors that need reliable high speed wireless connectivity has also helped spur the 5G fixed wireless access market’s projected rapid growth. These segments include smart and secure cars, smart houses, smart schools, smart cities, education and healthcare improvements.
“Through deploying the cellular mobile network facility rather than using traditional fixed-line networks, 5G fixed wireless access appears to be a robust way to offer uninterrupted internet connectivity to household users,” the report said. “Safe and secure high-speed internet connectivity is important for the transport industry because it is necessary to deliver on time the much-needed materials such as grocery supplies, hardware goods, new vehicles via the path. Ultra-fast internet connectivity via 5G fixed wireless networks guarantees on-time delivery service.”
CRE expected to have highest CAGR between 2020 and 2030
The residential, commercial, industrial and government sectors are all expected to have a big share of the 5G Fixed Wireless Access Market during the Reportlinker report’s forecasting period. The residential real estate segment is expected to dominate the global market because the lack of installation issues will let residential customers get gigabits of speed at a competitive rate.
Meanwhile, the government as a user is expected to build and use a private wireless high-speed network that can be implemented as a public network. Industrial and enterprise customers can leverage only needing and integration with the already-operating public communication internet service providers to achieve the introduction of the private network as a public high-speed network by utilizing their own telecommunications infrastructure.
However, the CRE segment is still expected to record the highest CAGR during the forecast period, according to Reportlinker.
High-speed data connectivity demand continues to grow
The growing adoption of connected devices such as smartphones, laptops and smart devices is expected to generate the need for fixed wireless connectivity solutions for 5G to achieve expanded coverage, according to the report. The demand is getting so large in part because of the different residential and CRE applications that rely so heavily on high-speed wireless such as distance learning, self-driving vehicles, multi-user gaming, video conferencing, live-streaming and telemedicine.
“5G network software is capable of delivering ample bandwidth to further boost data traffic,” the report said. “It has 10 to 100 times more bandwidth and high-speed data services than 3G and 4G networks provide. The growing demand for high-speed broadband services is therefore expected to drive the development of the market for 5G fixed wireless connectivity in the immediate future.”
Meanwhile, it’s still expected that 5G infrastructures will alter current communication methods, according to Reportlinker. 5G infrastructure is still in its early stages relatively, but a number of businesses and government agencies are promoting 5G tech implementation and deployment, “with an increased investment to carry out research and development activities.”
“Increased investment is required to upgrade existing 5G networks to replace existing components or add new ones, such as access networks, gateways, switches, and routing components, resulting in high capital requirements,” the report said. “In addition, service providers are keen to deploy 5G to give their customers new low-cost services that are supposed to reduce the key source of revenue for telecommunications companies, leading telecommunications companies to not be able to invest in new technology that might reduce their revenue.”
Click here to access the full 5G Fixed Wireless Access Market: Segments: By Type ; By Demography ; By Application ; and Region – Global Analysis of Market Size, Share & Trends for 2014 – 2020 and Forecasts to 2030 report.