A new market research report released today by MarketsandMarkets, global market research and consulting firm, highlights the impact of the ongoing COVID-19 pandemic on the 5G fixed wireless access market through 2026.
According to the report, the global 5G fixed wireless access (FWA) market is expected to grow from $503 million in 2020 to $86.7 billion by 2026. The report also indicates a 135.9% compound annual growth rate (CAGR) from 2020 through 2026.
“With the governments of different countries declaring a state of emergency owing to the spread of COVID 19, companies are increasingly adopting the work-from-home culture to keep their businesses operational and enable employees to follow social distancing guidelines. Trends such as work-from-home, social distancing, and online education drive the growth of the 5G fixed wireless access market”, MarketsandMarkets stated in its report.
North America, a leader in the worldwide 5G market, is estimated to account for the largest market share in 2020, in terms of value.
Mimosa Networks, Inc. (US), Cellular South, Inc. (US), TELUS Corporation (Canada), AT&T Inc. (US), and Verizon Communications, Inc. (US) are a few key companies that are driving the 5G upswing in North America by playing an active role in the development of 5G FWA solutions.
Along these lines, MarketsandMarkets reveals that the services segment will account for most of the 5G FWA market. Increased spectrum efficiency and low cost per bit are expected to expand FWA use cases and support its evolution toward 5G services. For example, 5G B2B private lines service that offers greater end-to-end (E2E) assurance will generate high average revenue per user (ARPU).
The rising demand for smart devices in commercial applications, such as distance learning, autonomous driving, video conferencing and live streaming, as well as in residential applications, such as telemedicine and augmented reality, will continue to promote the need for extended network coverage.
The full report on the 5G market share based on offering (hardware, services), operating frequency (sub–6 GHz, 24 GHz–39 GHz, above 39 GHz ), demography (urban, semi-urban, rural), application and region is available on the MarketsandMarkets’s website.
