The global 5G fixed wireless access market is expected to be worth US$ 121 billion by 2032, with a 43.6 percent CAGR. In 2022, the market is expected to be valued at US$ 3.3 billion.
By 2032, the market is expected to grow by 117.8 billion dollars in absolute terms. The growing adoption of modern technologies such as the Internet of Things (IoT) and machine-to-machine communication can be attributed to the market’s expansion (M2M). Furthermore, the increasing use of millimeter-wave technology for 5G fixed wireless access is expected to boost the 5G fixed wireless access market size during the forecast period.
Growing demand for 5G Fixed Wireless Access Networks from a variety of industries will drive the market.
The growing demand for 5G FWA in various sectors due to its benefits is expected to provide significant opportunities for growth in the coming period. In addition, there has been an increase in demand for wireless sensors in smart cities, which can be used to regulate environmental and pollution, traffic management, smart parking, and security surveillance. In the coming years, such factors are expected to benefit the market.
Residential consumers are expected to generate significant demand for high-speed, low-cost internet, paving the way for the development of FWA technologies. Furthermore, favourable initiatives taken by market participants are expected to provide a significant boost to the market during the forecast period.
For example, in May 2022, UScellular, a Cellular Corporation based in the United States, launched mmWave-based FWA in ten cities. In all of its markets, UScellular provides home broadband service using LTE; however, the new service introduced uses 5G and mmWave spectrum. Such initiatives are expected to benefit market growth in the near future.
Furthermore, deployment of 5G in various other sectors such as healthcare, automobile, telemedicine, and various business segments may increase market size during the assessment period.
Players in the global 5G Fixed-Wireless Access market are undertaking a variety of initiatives to strengthen their market position. Players make ongoing efforts to provide unique services. The global market for 5G Fixed Wireless Access is expected to be highly competitive as a result of such efforts.
- In June 2021, Ooredoo and Nokia launched super-fast and dependable 4G and 5G Fixed Wireless Access throughout Oman.
- In August 2021, Ericsson announced a collaboration with Mediacom Communications to expand broadband access in rural America via FWA. Mediacom is able to provide FWA high-speed internet services up to nine miles from each tower location thanks to Ericsson RAN solutions. In exchange, Mediacom will be able to provide broadband to thousands of underserved homes and businesses in rural communities at a low cost.