According to Reportlinker, the 5G Fixed Wireless Access Market will increase at a compound annual growth rate (CAGR) of 75.4 percent by 2030. Meanwhile, the market is expected to exceed $90 billion by 2030, up from $500 million in 2020.
“Growing demand for high-speed internet access coupled with superior broadband coverage that has minimal power consumption and latency is due to the growth of this sector,” the Reportlinker said. “Furthermore, the increasing introduction of superior technologies such as the Internet of Things (IoT)/machine-to-machine (M2M) millimeter-wave deployed through the 5G FWA also contributes to the growth of the global market.
“In addition, the growing demand for faster internet connectivity among customers is spurring the demand for fixed wireless access with efficient connectivity due to the increasing data size and the increase in the number of devices connected to the system.”
The growing number of industries that require dependable high-speed wireless connectivity has also aided the predicted rapid growth of the 5G fixed wireless access market. Smart and secure autos, intelligent houses, innovative schools, smart cities, and education and healthcare advancements are among these categories.
“Through deploying the cellular mobile network facility rather than using traditional fixed-line networks, 5G fixed wireless access appears to be a robust way to offer uninterrupted internet connectivity to household users,” the report said. “Safe and secure high-speed internet connectivity is important for the transport industry because it is necessary to deliver on time the much-needed materials such as grocery supplies, hardware goods, new vehicles via the path. Ultra-fast internet connectivity via 5G fixed wireless networks guarantees on-time delivery service.”
