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(Hosting-NewsWire.com, January 17, 2023 ) The Global 5G FWA Market is expected to be valued at USD 29.4 billion in 2023 and is projected to reach USD 153.0 billion by 2028; it is expected to grow at a CAGR of 39.0% from 2023 to 2028. 5G solutions can provide speeds of the order of gigabits per second, which means 10 to 20 times faster than 4G. Multiple 5G test trials have been conducted by companies worldwide, with reported downlink speeds up to 25 Gbps. Thus, 5G FWA technology directly competes with fiber-based or high-speed broadband access networks owing to its fast speed and low latency. The key driver for the 5G fixed wireless access market is the growing global demand for high-speed Internet connectivity and the expanding network coverage with reduced latency and power consumption.
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5G FWA services market accounts for the highest CAGR during the forecast period. 5G fixed wireless access services are expected to witness an increased demand in the coming years. Such services include 5G B2B private lines, which generate high average revenue per user (ARPU) and face little market competition. Despite their high service-level agreement (SLA) requirements, 5G fixed wireless access services are an attractive new market with good potential. They also eliminate the requirement for complex solution integrations and are already commercially available.
In terms of value, the semi-urban segment is projected to account for the largest 5G FWA market share in 2028. Trials are being conducted by telecommunication companies in rural, semi-urban, and urban settings to ensure that the benefit of 5G technology is not confined only to urban areas. 5G FWA will enable telecom operators to deliver high-speed mobile broadband services in semi-urban and rural areas with ease.
The 5G FWA market in Asia Pacific accounted for the largest share in 2022. The growth of the 5G FWA market in the Asia Pacific is mainly driven by the growing number of developments (such as R&D activities, investments, and partnerships among companies) related to 5G in countries such as Japan, China, and South Korea. Companies such as ZTE (China) and Huawei (China) are heavily investing in 5G and initiating field trials with some of the leading mobile service carriers, such as China Mobile (China), SoftBank (Japan), and China Unicom (China). Such developments will create opportunities for the 5G FWA market to grow in Asia Pacific. Though the majority of the demand for Internet connectivity in the Asia Pacific will be driven by China, South Korea, and Japan during the forecast period, it is expected that other countries will also start investing increasingly in their 5G infrastructures by 2023.
News Also Covered: https://www.prnewswire.com/news-releases/5g-fixed-wireless-access-market-worth-153-0-billion-by-2028---exclusive-report-by-marketsandmarkets-301721081.html
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