Demand for High-Speed Internet to Boost 5G Fixed Wireless Access Market Growth

New York, US, May 09, 2022 (GLOBE NEWSWIRE) -- Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “5G Fixed Wireless Access Market” information by Offerings, by Territory, by Application and Region – Forecast to 2030” market size to reach USD 91,669.61 million, growing at a compound annual growth rate of 83.1% by 2030.

Market Scope:
The 5G fixed wireless access provides high-speed data transfer rates, minimal latency, and reliable connectivity for a variety of businesses that will offer robust opportunities for the market over the forecast period. The low latency of 5G networks, for example, is crucial for integrating safety systems and providing real-time vehicle-to-vehicle & vehicle-to-infrastructure communication in autonomous/connected cars. Wireless sensors are used for a variety of services and applications in smart cities, ranging from pollution and environment monitoring to traffic control, security surveillance, and smart parking. As a result, the 5G network is critical in satisfying the needs of a variety of linked devices and sensors which have been deployed. The implementation and use of 5G networks in the healthcare sector is predicted to be a game-changer. During an emergency, for example, 5G networks can assist the public in accessing telemedicine and emergency care services. As a result, the rising use of 5G networks in various industry categories is likely to drive the global 5G fixed wireless access market forward.

Dominant Key Players on 5G Fixed Wireless Access Market Covered are:

• Huawei (China)
• Verizon Communications Inc. (US)
• Ericsson (Sweden)
• Vodafone (UK)
• Corporation (Finland)
• Mimosa Networks, Inc. (US)
• Samsung Electronics (South Korea)
• Inseego (US)
• CableFree (UK)
• Siklu Communication, Ltd. (Israel)

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Market USP Exclusively Encompassed:
Market Drivers
Demand for High-Speed Internet to Boost Market Growth
Increased use of advanced technologies like machine-to-machine (M2M), the Internet of Things (IoT) & millimeter-wave in 5G FWA, as well as increased demand for high-speed internet access and extensive network coverage with lower latency and power consumption will boost market growth over the forecast period.

High Infrastructure Cost to act as Market Restraint
The high infrastructure cost and compatibility issues amid 5G networks & traditional networks may act as market restraints over the forecast period.

Scalability and Interoperability Issues to act as Market Challenge
The scalability and interoperability issues coupled with delays in taking decisions associated with the standardization of spectrum allocation may act as market challenges over the forecast period.

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Segmentation of Market Covered in the Research:
The 5G fixed wireless access market is bifurcated based on application, territory, and offerings.

By offerings, services will lead the market over the forecast period.

By territory, semi-urban will dominate the market over the forecast period.

By application, residential will spearhead the market over the forecast period.

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Regional Analysis
North America to Spearhead 5G Fixed Wireless Access Market
During the forecast period 2019-2024, North America is expected to lead the worldwide 5G fixed wireless access market. The key reason for North America's high growth and worldwide presence is that the regional market has widespread availability to 5G fixed wireless access during the projection period. In addition, the North American market is seeing an increase in the volume of research & development activities relating to 5G network designs and deployment, as well as the presence of a majority of competitors. North America led the market, holding the majority of sales and market share. The widely engaged user base as well as new subscribers is likely to be produced across North America, specifically in the United States. In addition, large corporations in countries like the United States & Canada are investing in and developing 5G internet connections and capacity, which is predicted to stimulate the expansion of on-demand video services. North America contributes the most income to the regional market and controls the maximum market share. The US is likely to have the most engaged user base in North America, and this trend is likely to continue with the addition of new members. The widespread adoption of 5G in the United States and Canada is projected to boost demand for the on-demand video service. The market for such services is currently growing at a rapid pace. Several key companies, such as Verizon and AT&T, are contributing to the telecom sector's notable growth; however, both of these companies are actively looking to expand their businesses beyond just providing key mobile solutions to offering speedy internet services and effectively competing in the internet solutions vertical. Verizon, for example, launched 5G FWA services in four major cities across the United States in October 2018.

APAC to Have Admirable Growth in 5G Fixed Wireless Access Market
The APAC region will have admirable growth in the 5G fixed wireless access market over the forecast period. Japan, China, South Korea, India, & the rest of APAC have all been investigated for the fixed wireless access market. China, South Korea, & Japan are just a few of the world's fastest-growing and leading industrialized economies. It is experiencing rapid changes in terms of new technology uptake and improvements across industries. 5G networks are projected to play a key role in the use of advanced technologies like the Internet of Things and machine-to-machine communication. They're also crucial for constructing smart cities and implementing industrial automation since they connect several devices at once and provide low latency, boosting overall system performance.

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COVID-19 Impact on the Global 5G Fixed Wireless Access Market
COVID-19 is projected to have a major negative impact on 5G fixed wireless access implementation, including delays in spectrum auctions and other standard activities. Furthermore, it imposes significant limits on network development and has a detrimental influence on telecommunications operators' investment decisions. The COVID-19 crisis, on the other hand, is likely to have a significant positive effect on consumer demand for the high-speed data services. Since the global pandemic of COVID-19, both governmental and private sector enterprises have allowed their employees to work from home. As a result, there's a lot of demand for super-fast data services, which means 5G fixed wireless access has a lot of room to develop.

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