The global 5G fixed wireless access (FWA) market is expected to be worth $121 billion by 2032, with a 43.6% compound annual growth rate. In 2022, the market is expected to be valued at $3.3 billion.
By 2032, the market is expected to grow by $117.8 billion in absolute terms. The growing adoption of modern technologies, such as the IoT and machine-to-machine (M2M) communication, can be attributed to the market's expansion. Furthermore, the increasing use of millimeter-wave technology for 5G fixed wireless access is expected to boost the market size during the forecast period.
The growing demand for 5G FWA in various sectors due to its benefits is expected to provide significant opportunities for growth in the coming period. In addition, there has been an increase in demand for wireless sensors in smart cities, which can be used to regulate environmental pollution, traffic management, smart parking, and security surveillance. In the coming years, such factors are expected to benefit the market.
Residential consumers are expected to generate significant demand for high-speed, low-cost internet, paving the way for the development of FWA technologies. Furthermore, favorable initiatives taken by market participants are expected to provide a significant boost to the market during the forecast period.
For example, in May 2022, UScellular, a cellular corporation based in the U.S., launched mmWave-based FWA in 10 cities. In all of its markets, UScellular provides home broadband service using LTE; however, the new service introduced uses 5G and mmWave spectrum. Such initiatives are expected to benefit market growth in the near future.
Furthermore, deployment of 5G in various other sectors, such as health care, automobile, telemedicine, and various business segments, may increase market size during the assessment period.
Players in the global 5G fixed-wireless access market are undertaking a variety of initiatives to strengthen their market position. Players make ongoing efforts to provide unique services. The global market for 5G FWA is expected to be highly competitive as a result of such efforts.