5G fixed wireless access market is expected to grow from USD 400 million in 2018 to USD 7,553.87 million by 2023, at a CAGR of 70.75% during the forecast period. Increasing demand for high-speed internet connectivity, the rise in extensive network coverage needs, growing adoption of advanced technologies such as Internet of Things (IoT) millimeter-wave in 5G FWA are the key drivers for the 5G fixed wireless access market.
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The global market for 5G Fixed Wireless Access Market is estimated to grow at a significant rate during the forecast period from 2019 to 2024. The geographical analysis of the 5G Fixed Wireless Access market is done for North America, Europe, Asia-Pacific, and the rest of the world.
North America followed by Europe is expected to dominate the 5G Fixed Wireless Access market from 2019 to 2024 owing to the presence of advanced IT infrastructure, a high concentration of market players in the region, and the availability of proficient technical expertise. In North America, the US is estimated to register the highest CAGR owing to the rapid pace of 5G implementation and the increasing user-base.
Market Drivers and Key Barriers
The COVID-19 outbreak and the resultant lockdown impositions have given rise to remote work, education as well as entertainment among people. The situation has boosted the use of the Internet, leading to augmented need for communication networks. More and more people are opting for streaming services, be it Disney+, HBO Now or Netflix, post SARS-CoV-2. The novel coronavirus spread and the ensuing stay at home measures being taken across countries have led to more need for stronger networks, which is proving to be quite favorable for the 5G fixed wireless access market.
Following the COVID-19 impact on the market, leading companies have been focusing on bridging the communication gap between people as well as businesses. They are also trying to leverage the opportunity that has been birthed by the pandemic, which is the rising need for higher bandwidth among people. They are indulging in partnership and agreement strategies to curb any revenue loss and also elevate their market position. For instance, Keysight Technologies Inc. has been selected by Arcadyan to provide its 5G test platforms that can help validate the latter’s consumer premises equipment for FWA. Arcadyan will be using Keysight’s UXM 5G Wireless Test Platform to gain a higher position in the 5G fixed wireless access market.
Renowned Industry Contenders
Some of the renowned industry contenders listed in the MRFR study are Siklu Communication, Ltd. (Israel), AT&T Inc. (US), Telus Corporation (Canada), Hrvatski Telekom (Croatia), Cisco Systems, Inc. (US), Cohere Technologies, Inc. (US), Huawei Technologies Co., Ltd (China), Samsung Electronics (South Korea), Swisscom (Switzerland), Nokia Corporation (Finland), Telefonaktiebolaget LM Ericsson (Sweden), Mimosa Networks, Inc. (US), Mobile Telephone Networks (MTN) (South Africa), Cellular South, Inc. (C Spire) (US), Arqiva (Hampshire), United States Cellular Corporation (US), Qualcomm Technologies (US), Telefónica (Spain), Orange SA (France), Verizon Communications Inc. (US), to list a few.
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