5G Fixed Wireless Access (FWA) Market size was over USD 30.72 billion in 2023 and is likely to reach USD 2.32 trillion by the end of 2036, growing at around 39.5% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of 5G fixed wireless access is assessed at USD 40.43 billion.
The 5G fixed wireless access market has been witnessing significant growth worldwide. The growth is attributed to factors such as increased demand for high-speed internet connections and the growing adoption of advanced technologies such as the smart gadgets, Internet of Things (IoT) and millimeter-wave in 5G FWA. Furthermore, the rise in the adoption of connected devices and internet penetration, such as smartphones, laptops, smart devices, for commercial and residential applications is also expected to drive market growth.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
39.5% |
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Base Year Market Size (2023) |
USD 30.72 billion |
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Forecast Year Market Size (2036) |
USD 2.32 trillion |
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Regional Scope |
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The market is segmented based on offering into hardware and services, out of which, the services segment is anticipated to grab the largest share by the end of 2021 on account enhanced network performance capabilities and deliver high-speed network coverage compared to currently used connectivity networks. Also, higher implementation of connected devices, such as smartphones, laptops, smart devices, in several commercial and residential applications is also boosting the growth of the market.
Based on application, the market is segmented into residential, commercial and industrial. The commercial segment is estimated to register the highest CAGR during the forecast period in the global 5G fixed wireless access (FWA) market. The growth of the segment can be attributed to the growing number of business and companies all around the globe.
Our in-depth analysis of the global market includes the following segments
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By Offering |
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By Application |
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APAC Market Statistics
Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific and the Middle East & Africa region. Asia Pacific industry is poised to hold largest revenue share by 2036, owing to adoption of advanced technologies, increasing adoption of smartphones, and increasing internet penetration in the region.
North America Market Analysis
Furthermore, in 2021, the market in North America is evaluated to occupy the largest share in terms of revenue, owing to the presence of advanced IT infrastructure, a high concentration of market players in the region, and 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. 23%, which is almost a quarter of total mobile connections will be running on 5G networks by 2025.
Author Credits: Abhishek Verma
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