Northbrook, IL -- (SBWIRE) -- 01/07/2022 -- The 5G fixed wireless access market which was valued at USD 396 million in 2019 is projected to reach a value of USD 46,366million by 2026, growing at a CAGR of 97.47% from 2019 to 2026. The key factors driving the growth of the 5G fixed wireless access markets are growing demand for high-speed internet connectivity and broad network coverage with reduced latency and power consumption, increased adoption of advanced technologies such as machine-to-machine (M2M)/Internet of Things (IoT) and millimeter-wave in 5G FWA. However, delay in making decisions related to the standardization of spectrum allocation, high infrastructure costs, and adverse impact on the environment are expected to hinder market growth.
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5G, as a fixed wireless solution, was not in focus until companies such as Verizon and AT&T started discussing the possible impact of 5G FWA on mobile phones, smart homes, connected cars, and smart cities, among various other applications. These companies also plan to launch 5G FWA solutions for end users much before the commercial launch of 5G services.
The services segment is expected to be the largest segment, accounting for nearly 86% of the 5G fixed wireless access market by 2026. The evolution of 5G is likely to take fixed wireless access to a new level with the use of a wide range of radio spectrum, owing to which consumers can achieve major capacity gains and low-latency connectivity. Thus, 5G FWA is likely to enhance network performance capabilities and deliver high-speed network coverage compared to currently used connectivity networks.Furthermore, rising adoption of connected devices, such as smartphones, laptops, and smart devices in several commercial and residential applications, such as distance learning, autonomous driving, multiuser gaming, videoconferencing, live streaming, telemedicine, and augmented reality is expected to boost the demand for 5G FWA solutions to achieve extended coverage.
Semi-urban areas are expected to hold the largest share of the 5G fixed wireless access market in the coming years. In areas like these, it is challenging to upgrade or deploy the foundation infrastructure due to the high cost of projects in civil works and complexities associated with high-rise buildings. FWA overcame the challenge by providing a wireless connection with high throughput and low latency everywhere, whether replacing aging wireline infrastructure or establishing a connection with a new network node.
North America is one of the leading markets for 5G in terms of R&D, network design/deployment, and presence of key players. In North America, the US is considered to have the most engaged user base, which is expected to grow with new subscribers. Full-fledged implementation of 5G in North America is anticipated to boost on-demand video services. In the current scenario, the market for such services is continuously growing. The proliferation of 5G networks in the region is increasing mainly due to the presence of some prominent market players. For instance, Qualcomm Technologies (US), Mimosa Networks, Inc. (US), Cohere Technologies, Inc. (US), Cellular South, Inc. (C Spire) (US), TELUS Corporation (Canada), United States Cellular Corporation (US), AT&T Inc. (US), Verizon Communications Inc. (US), and Cisco (US) are among a few major companies in the 5G market that are actively participating in the development of 5G FWA solutions.
Rising demand for 5G FWA networks from various industries, remarkable progress in telecommunications and networking technologies, escalating the demand for IoT and cloud-based services, development of the 5G network, and strategic partnerships with system integrators in emerging economies are some of the major opportunities that are expected to open for companies in the 5G fixed wireless access market. The 5G network plays a vital role in meeting various requirements for several connected devices and numerous sensors that are being deployed. Increased demand for advanced network connectivity to effectively avail IoT and cloud-based services is creating considerable growth opportunities for 5G FWA providers.
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The 5G FWA network offers features such as high-speed data transfer rate, low latency, and consistent connectivity. All these features are useful across various industrial sectors. In smart cities, there are dense arrays of wireless sensors that enable various services and applications, right from environmental services and pollution monitoring to security surveillance, traffic management, and smart parking, among many others. Moreover, in the healthcare sector, the 5G network could become a revolutionary development. For instance, in an emergency, the 5G network can help avail services such as telemedicine and emergency care providers. The wide adoption of the 5G network in different business segments would further increase opportunities for the 5G FWA market.