5G Fixed Wireless Access Market Size, Share & Trends Analysis Report By Offering (Hardware, Services), By Operating Frequency, By Demography, By Application, By Region, And Segment Forecasts, 2023 - 2030

5G Fixed Wireless Access Market Size, Share & Trends Analysis Report By Offering (Hardware, Services), By Operating Frequency, By Demography, By Application, By Region, And Segment Forecasts, 2023 - 2030

5G Fixed Wireless Access Market Growth & Trends

The global 5G fixed wireless access market size is expected to reach USD 342.83 billion by 2030, registering a CAGR of 39.9% from 2023 to 2030 according to a new report by Grand View Research, Inc. Factors such as the rising demand for high-speed internet, advancements in 5G technology, the rise of remote working, and the expansion of 5G network coverage are the major factors driving the market growth. There have been significant advancements in 5G technology, such as increased bandwidth, lower latency, and improved network coverage. These advancements have enabled 5G fixed wireless access (FWA) to become a more viable alternative to traditional fixed broadband services.

Private 5G networks are also expected to drive the demand for the 5G fixed wireless access market by offering improved security, customization, low latency, increased network capacity, and improved reliability. Private 5G networks can offer improved security over public networks, making them more appealing for businesses and organizations that handle sensitive data. This enhanced security can drive demand for 5G FWA solutions, providing high-speed connectivity over a secure wireless network. At the same time, as businesses and organizations continue to adopt private 5G networks, the demand for 5G FWA solutions is expected to increase to provide reliable and high-speed connectivity to remote locations.

Areas that are currently underserved or unserved by traditional wired broadband services are also expected to create lucrative growth opportunities for the market over the forecast period. The last mile is the final leg of the network that connects the service provider to the end-user. In many cases, the last mile is the most challenging and expensive part of the network to deploy, particularly in rural and remote areas. In these areas, the population density is low, and the cost of deploying wired infrastructure can be prohibitively high. 5G Fixed Wireless Access (FWA) can be an attractive solution for providing last-mile connectivity as it can be deployed quickly and cost-effectively, without the need for physical infrastructure.

The outbreak of COVID-19 had a positive impact on the market. The COVID-19 pandemic has resulted in an increase in telecommuting and remote work, which is projected to persist long post the pandemic. 5G FWA provides high-speed internet connectivity in places where wired broadband is not accessible, making it an excellent choice for remote employees. With more people working and learning from home, there has been an increased demand for high-speed internet connectivity, particularly in areas that are underserved by traditional wired broadband services. Such factors are anticipated to create more demand for the market over the coming years.

5G Fixed Wireless Access Market Report Highlight

• The services segment dominated the market in 2022 owing to the global improvement of cellular communications networks to meet increased internet demand.
• The Sub-6 GHz segment dominated the market in 2022 due to increased coverage capabilities of Sub-6 GHz operating frequencies, which enable better connectivity in both indoor and outdoor environments by effectively penetrating obstacles such as walls and buildings.
• The urban segment dominated the market in 2022 owing to increased demand for high-speed internet, expanding acceptance of smart city initiatives, rising number of connected devices, and improvements in 5G technology across the globe.
• The commercial segment is expected to grow significantly over the forecast period as a result of the growing usage of video conferencing solutions and IoT technology advances are two key factors fueling the market's expansion.
• North America dominated the regional market in 2022. The expansion of 5G mobile connections across the region is anticipated to significantly contribute to driving the regional market growth