In 2024, the global in-building wireless market is expected to be valued at US$ 43.6 billion, according to a recent study released by Fact.MR, a supplier of competitive intelligence and market research. From 2024 to 2034, the market is expected to grow at a compound annual growth rate (CAGR) of 10%.
The growing number of smartphone users worldwide and the growing demand for smart and intelligent gadgets are expected to have a beneficial impact on global market trends. In-building wireless services are expected to become more in demand due to the growing use of mobile internet and the development of smart mobile devices into sophisticated multi-functional instruments rather than just communication devices.
Key Takeaway from Market Study
- Worldwide demand for in-building wireless services is calculated to reach a market valuation of US$ 43.6 billion in 2024. The global in- building wireless market has been forecasted to grow to a size of US$ 113 billion by the end of 2034. The market is projected to advance at 10% CAGR from 2024 to 2034. North America is approximated to hold 31.5% share of the global market by the end of the forecast period in 2034. The manufacturing sector is anticipated to account for 20% share of global market revenue by 2034. Demand for in-building wireless solutions in South Korea is projected to accelerate at a CAGR of 11.6% through 2034.
Competitive Landscape
Prominent industry participants are implementing various tactics to augment their visibility throughout various geographies. A variety of tactics, like as partnerships, acquisitions, and collaborations, are some of the various ways that players obtain a competitive advantage. Additionally, it is anticipated that players will broaden their reach with the aid of quality control and the creation of new in-building wireless services.
As an example:
- American-based CommScope is a network infrastructure company. In February 2020, the firm introduced new radio points, open interfaces, and virtualized RAN functionalities for its OneCell small cell, which offers an approachable way for many operators to establish 5G networks in their respective businesses.
- A cooperation between Ericsson and GCI was formed in April 2020 to integrate the first 5G cell sites in the US. In addition to providing 5G-band solutions, GCI intends to update many cell sites in Eagle River, Girdwood, and Anchorage.
These insights are based on a report on in-building wireless market by Fact.MR.
