Global In-Building Wireless Market Forecast 2024-2033: Estimated Market Size And Growth Rate
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033
The in-building wireless market has witnessed significant growth in recent years, with projections indicating a continued upward trajectory. Key factors driving this growth include:
- Surge in mobile data usage
- Transition to 4G networks
- Rapid adoption of smartphones
- Enterprise mobility requirements
- Demand for high-quality indoor coverage
Current Market Landscape
As of 2023, the market size stood at $14.92 billion and is poised to reach $16.7 billion in 2024, boasting a Compound Annual Growth Rate (CAGR) of 11.9%. This growth trend is expected to persist, with the market projected to expand to $27.06 billion by 2028, at a CAGR of 12.8%. Factors fueling this growth in the forecast period include:
- Expansion of IoT and connectivity needs
- Demand for 5G and next-gen connectivity
- Rise in remote work infrastructure
- Smart building development
- Increased enterprise demand
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Rising Adoption of Smartphones
The proliferation of smartphones is a significant driver of market growth, as these devices become integral to daily life. In-building wireless solutions play a vital role in enhancing wireless connectivity within buildings, meeting the increasing demand for seamless communication. Notably, there were around 6.8 billion smartphone users worldwide as of January 2023, marking an 86.5% increase. This surge in smartphone usage directly impacts the demand for in-building wireless solutions.
Product Innovations Driving Transformation
Major players in the in-building wireless market are actively innovating to stay ahead. For instance:
- Development of 5G Small Cell technology
- Mavenir Systems, Inc. introduced the 5G small cell (E511) to provide high-capacity standalone coverage for in-building environments. This product supports distributed and centralized Open Radio Access Network (O-RAN) architectures, offering flexibility and cost-effectiveness.
Strategic Acquisitions
Nextivity’s acquisition of Assured Wireless in January 2023 is a strategic move to enhance its portfolio with high-power user equipment (HPUE) capabilities. HPUE allows devices to transmit power in specific radio bands, contributing to improved connectivity in in-building environments.
Market Segmentation
The in-building wireless market is segmented based on:
- Component: In-Building Wireless Infrastructure, In-Building Wireless Services
- Venue: Large venue, Medium venue, Small venue
- Business Model: Service Providers, Enterprises, Neutral Host Operators
- End Users: Government, Manufacturing, Transportation and logistics, Education, Retail, Hospitality, Healthcare, Other End Users
Regional Outlook
- Asia-Pacific led the in-building wireless market in 2023.
- North America is expected to witness the fastest growth during the forecast period.
Conclusion
The in-building wireless market is poised for substantial growth, driven by factors such as smartphone adoption, technological innovations, and strategic acquisitions. With the continued evolution of connectivity technologies and the emergence of new use cases, the market presents lucrative opportunities for stakeholders across various sectors. As businesses and consumers alike prioritize seamless connectivity, investments in in-building wireless solutions are set to soar, shaping the future of indoor connectivity.
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The In-Building Wireless Global Market Report 2024 provides comprehensive insights on the in-building wireless market size, trends and drivers, opportunities, strategies, and competitor analysis. The countries covered in the in-building wireless market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
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