New York, Dec. 08, 2022 (GLOBE NEWSWIRE) -- The Insight Partners published latest research study “5G Fixed Wireless Access Market Size, Share, Growth, Trends, Demand and Global Forecast to 2028 - COVID-19 Impact and Global Analysis By Offering (Hardware, Services); Application (Residential, Commercial, Industrial); Operating Frequency (SUB-6 GHZ, 24 GHZ-39 GHZ, ABOVE 39 GHZ) and Geography”, the 5G fixed wireless access market size is expected to grow from USD 0.42 Billion 2021 to USD 90.56 billion by 2028 at a CAGR of 85.2% between 2022 and 2028.
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Global 5G Fixed Wireless Access Market - Report Scope:
| Growth rate | CAGR of 85.2% from 2022 to 2028 |
| Market Size Value in | USD 0.42 billion in 2021 |
| Market Size Value by | USD 90.56 billion by 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2021 |
| No. of Pages | 150 |
| Historical data available | Yes |
| Segments covered | Offering, Application, Operating Frequency, and Geography |
| Regional scope | North America, Europe, Asia Pacific, Middle East & Africa, South & Central America |
| Country scope | US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Global 5G Fixed Wireless Access Market: Competitive Landscape
Cohere Technologies, Inc; Cisco; Nokia Corporation; Huawei Technologies Co., Ltd.; Qualcomm Technologies, Samsung Electronics Co., Ltd. (Samsung); Verizon Communications Inc.; Mimosa Networks, Inc. (Airspan Networks Inc.); Siklu Communication; and Telefonaktiebolaget LM Ericsson are among the key 5G fixed wireless access market players profiled in the study. Several other major companies were also studied and analyzed in this research study to get a holistic view of the market and its ecosystem.
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5G Fixed Wireless Access Market – Growth Drivers:
The rising demand for strong internet connectivity with low power consumption is raising the demand for 5G fixed wireless access. As a result, various market players are coming up with new developments to provide high bandwidth connectivity. For instance, in August 2022, 1&1, a German 5G newcomer, announced that they had completed Open RAN-based 5G FWA tests with friendly users under real conditions. Also, in October 2022, Nokia announced that they had been selected by nbn to supply 5G fixed wireless access (FWA) mmWave Customer Premises Equipment (CPE) to upgrade nbn’s fixed wireless network. Through this program, the companies can deliver high-speed internet to thousands of homes and businesses across Australia. Thus, the above-mentioned developments will drive the 5G fixed wireless access market growth during the forecast period.
Moreover, the growing demand for high-speed and low-cost internet from residential consumers is boosting the need for FWA technologies. The technology enables broadband services to be delivered to households using indoor or outdoor subscriber units by running new 5G NR (New Radio) technology to connect the subscriber unit to the wireless network. Furthermore, the coverage can be extended inside a customer's home using additional devices. All these factors bolster the growth of the 5G fixed wireless access market.
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FWA will become a competitive force over slow and expensive wireline networks in emerging countries, which is expected to create an opportunity for the 5G fixed wireless access market growth during the forecast period. In April 2019, according to Orange SA , 5G coverage could exceed 60% of uncovered village having more than 300 inhabitants, would provide another big opportunity for future market growth in the residential segment.
In addition, the governments of various countries are coming up with different initiatives to expand their 5G fixed wireless access. For instance, in the US, phase two of the Connect America Fund (CAF) is supporting broadband initiatives in various underserved communities. Also, in May 2022, European National Regulators announced that they would increase investments in 5G FWA to achieve the European connectivity targets.
Fixed Wireless Access (FWA) is an efficient and scalable alternative for wired connections. It helps network operators deliver ultra-high-speed broadband to sub-urban and rural areas, thus supporting home and business applications where fiber layout and maintenance are prohibitively expensive. Also, 5G FWA employs standardized 3GPP (3rd Generation Partnership Project) architectures and common mobile components for delivering ultra-high-speed broadband services to residential and enterprise customers. Moreover, it is a competitive alternative to fixed-line DSL (Digital Subscriber Line), cable, and fiber.
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Impact of COVID-19 on 5G Fixed Wireless Access Market Growth:
COVID-19 pandemic slowed down the investments in the 5G network due to telecom operators' delay in the 5G rollout plan. The pandemic severely affected various industries, including retail, manufacturing, and healthcare, as the government of various countries declared the lockdown. Also, the shutdown of various manufacturing facilities due to the labor shortage hindered the 5G fixed wireless access market.
However, since Q2 2021 5G demand in several industries is growing in the retail, manufacturing, and healthcare sectors, particularly private 5G networks for the manufacturing and healthcare sectors, due to the enhanced capabilities of 5G. Owing to this, the 5G industry participants are investing substantial amounts in their products, which is driving the 5G fixed wireless access market.
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