Rise of 5G Fixed Wireless Access Market in 2024

The global 5G FWA market is expected to be valued at USD 29.4  billion in 2023 and is projected to reach USD 153.0  billion by 2028 growing at a CAGR of 39.0% during the forecast period. The increasing adoption of advanced technologies such as machine-to-machine (M2M) & IoT and the rising use of millimeter-wave technology for 5G FWA is expected to drive the growth of the 5G fixed wireless access market. However, the high costs of infrastructures and the adverse impact of millimeter wave technology on the environment are restraints for market growth.

Key Players:
Nokia (Finland), Samsung Electronics (South Korea), Huawei Technologies (China), Ericsson (Sweden), Inseego (US), Verizon Communications (US), Siklu Communication (Israel), Vodafone (UK), CableFree (UK), CommScope (US), Gemtek Technology (Taiwan), Airspan Networks Holdings (US), Vantiva (France), Orange (France), Telus Corporation (Canada), AT&T (US), Telefonica (Spain), Swisscom (Switzerland), Hrvatski Telekom (Croatia), Singtel (Singapore), D-Link Corporation (Taiwan), Netgear (US), ZTE Corporation (China), Sunrise Communications AG (Switzerland), and T-Mobile US (US) are among the many players in the 5G FWA market.

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Industrial Application to hold the highest CAGR during the forecast period

5G FWA technology is expected to play an integral role in improving the overall performance of industries such as automotive and transportation, energy and utilities, and mining. IoT and M2M communication are the key technologies used in industrial automation. Applications based on these technologies require high-speed networking, low-latency communication, ultra-fast response times, and many simultaneously connected smart devices. 5G networks are the key enablers for the deployment of IoT as they provide a platform to connect all devices to the Internet using high-speed data transmission and process.

5G FWA market in US for North America to hold the highest market share during the forecast period

The US is one of the major adopters of advanced technologies and strives to implement automation technologies across end-user sectors. For instance, it is among the top three spenders on smart city initiatives. It is also among the top five countries in terms of investments in industrial automation. All these factors have resulted in the adoption of wired and wireless technologies. Most companies operating in the 5G FWA market in North America are based in the US. The strong economy and high disposable income have increased the demand for modern technologies in the country, which is expected to account for more mobile connections than 4G by 2025 and lay the groundwork for accelerated growth in the FWA broadband and IoT services sectors over the next three years.   

Customer premise equipment (CPE) is expected to hold the highest market share during the forecast period.

FWA broadband connections are set to surge, with 5G-enabled FWA lining up to be a major use case for driving adoption and bridging the digital divide challenge worldwide. Ericsson’s most recent 5G Mobility report predicts FWA connections will grow 17% annually through 2028. The number of FWA connections is expected to reach 300 million by 2028, out of which 5G FWA will represent almost 80% of the total FWA connections.