WTTx Market Size Worth USD 33.0 Billion by 2027
This research report categorizes the WTTx market to forecast revenues and analyze trends by Component, Organization size, Operating frequency, and Region.
Northbrook, IL 60062 -- (SBWire) -- 09/27/2022 --According to a research report "WTTx Market by Component (Hardware, Platforms and Solutions, and Services), Operating Frequency (1.8 GHz-SUB 6GHZ, 6 GHZ-24 GHZ, above 24 GHZ), Organization Size (Large Enterprises and SMEs) and Region - Global Forecast to 2027" published by MarketsandMarkets, the WTTx market size is projected to grow from USD 4.9 billion in 2022 to USD 33.0 billion by 2027, at a CAGR of 46.4% during the forecast period.
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By operating frequency, above 24 GHz segment to have highest growth rate during forecast period
Millimeter wave (mmWave) 5Gallh operates in an area above 24 GHz and has access to massive amounts of data, allowing speeds of more than 1 Gbps. This is the current spectrum used by mobile operators, such as Verizon for 5G, and T-mobile and AT&T's 5G networks. mmWave quickly shows the benefits of 5G with its incredible speed and capacity. The high bands are TDD-based and provide high capacity when used with Massive MIMO.
By component, services segment to grow at highest CAGR during forecast period
Device and service orchestration platforms under the WTTx market provide a great digital experience across wireless broadband technologies while lowering operational expenses. WTTx services help in resource management, automation fulfilment, and business process management. The service segment of the WTTx market has been broadly classified into managed services and professional services. Companies must provide better local support, thus helping launch new networks and services, tailored technical support, and onsite troubleshooting. The global managed services segment is highly fragmented and comprises players from diverse backgrounds, ranging from specialized MSSPs to telecommunication companies, system integrators, and VARs.
Asia Pacific to have highest growth rate during forecast period
China, South Korea, and India are the major revenue contributing countries for the Asia Pacific WTTx market. Due to the ongoing digital transformation in various industries including retail, education, and transportation and logistics in this region, the requirement for managed IT services is increasing. With the 5G network launch, the emerging economies in Asia Pacific are projected to drive market growth for fixed wireless access during the study period. Government initiatives and policies are boosting the growth of the WTTx market in this region. In June 2020, South Korea's Ministry of Science and ICT (MSICT) announced deploying a 6GHz Wi-Fi band and ensuring the availability of 5925-7125 MHz for indoor operations. The investment and participation of Asia Pacific in technological development have made the region a hotspot for this industry.
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The major players in the WTTx market are Huawei (China), Nokia (Finland), Ericsson (Sweden), Qualcomm (US), CommScope (US), Samsung (South Korea), Eltel Group (Sweden), Airspan (US), Inseego (US), Gemtek (Taiwan), Fibocom (China), Anritsu (Japan), Keysight Technologies (US), Technicolor (France), Lumine (Canada), Remcom (US), Cohere Technologies (US), EDX (US), Kelly (Canada), Digi International (US), BLiNQ Networks (Canada), AVSystem (Poland), Tarana Wireless (US), Telrad Networks (Israel), and Jaton Technology Ltd (China). These players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches and product enhancements, and acquisitions, to expand their footprint in the WTTx market.
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