London, Feb. 08, 2022 (GLOBE NEWSWIRE) -- The global broadband services market size was reached at US$ 352.6 billion in 2020. The internet has witnessed a huge and rapid traction across the globe. The increasing importance of the digital technologies is forcing the various industry players and the customers to shift to the digital platforms. The rising adoption of the latest digital technologies across various industry verticals such as education, retail, healthcare, and banking has significantly driven the growth of the global broadband services in the past few decades.
Get the Sample Copy of Report@ https://www.precedenceresearch.com/sample/1519
The rising demand for the implementation and deployment of various technologies such as cloud computing, AI, IoT, and social media is expected to boost the demand for the broadband services across the globe. Moreover, the rising adoption of the online education, work from home, e-commerce, and social media platforms among the consumers and the providers is fueling the growth of the broadband services market. Moreover, the rising government investments in the development of sophisticated telecommunications and IT infrastructure are supporting the broadband services market growth all over the globe.
Report Scope of the Broadband Services Market
| Report Attributes | Details | |
| Market Size by 2030 | US$ 748.6 Bn | |
| Growth Rate from 2021 to 2030 | 7.8% | |
| Largest Revenue Holder | Asia Pacific | |
| Fastest Growing Region | North America | |
| By Connection |
| |
| By End User |
| |
Report Highlights
- Based on the connection, the wireless is estimated to be the most opportunistic segment. The wireless broadband offers more convenience, enhanced user experience, and higher speed to the customers. The wireless broadband uses radio waves that eliminate the inconveniences associated with the cable and the fiber optics connections.
- Based on the end user, the business segment accounted for around 45% of the market share and dominated the market in 2020. This is simply attributable to the increased demand for the internet connectivity among the business entities across the globe. Moreover, the rising adoption of the latest digital technologies like AI, IoT, and data analytics requires high speed and uninterrupted internet connection that is expected to boost the demand for the broadband services among the business organizations across the globe.
Ask here for more customization study@ https://www.precedenceresearch.com/customization/1519
Regional Snapshot
In 2020, Asia Pacific dominated the global broadband services market and accounted for a market share of around 27%. Asia Pacific is witnessing rapid industrialization and urbanization along with the rapid development of the IT and telecommunications infrastructure. The growing demand among the various large and small business entities to adopt the latest digital technologies are augmenting the demand for the high speed and uninterrupted broadband services. Moreover, the availability of cheap data in the region is resulting in the increased adoption of smart devices and increased adoption of internet. The booming education industry in Asia Pacific has witnessed a rapid surge in the demand for the online education and online entertainment, which has exponentially boosted the growth of the broadband services market in the past couple of years. For these reasons, Asia Pacific is also expected to be the fastest-growing region.
Europe was the second-most prominent market in 2020. The higher adoption of the latest technologies across the BFSI, retail, and healthcare sector has propelled the demand for the broadband services in Europe. Moreover, the increased adoption of the automation and digital technologies in the manufacturing sector has fueled the demand for the broadband services in the past years.
Market Dynamics
Driver
Rising penetration of internet and digital platforms
According to the International Telecommunication Union (ITU), the number of internet users reached at 4 billion by the end of 2019. Most of the internet users had access to the internet through smartphones. The rising adoption of smartphones, tablets, smart TVs, and other such smart devices along with the availability of cheap data is expected to drive the growth of the global broadband services market during the forecast period.
Restraint
Lack of knowledge and higher illiteracy rates
Most of the users in the developing and the underdeveloped regions are illiterate and lacks the knowledge of operating a smart devices like smartphones. Their lack of education and lower access to the smart devices is a major constraining factor that may hinder the growth of the broadband services market during the forecast period.
Opportunity
Introduction of 5G
The introduction of 5G is estimated to present huge growth opportunities to the market players. The improved speed and enhanced customer experience are the most important features that the customers and the corporate users are expecting from the 5G technology and this will rapidly boost the demand for the 5G broadband services across the globe.
Related Reports
- SCADA Market Research Report 2021 to 2030
- Robotic Process Automation Market Research Report2021 - 2030
- B2B Payments Transaction Market Research Report 2021 – 2030
Challenge
Inadequate infrastructure in the rural regions
The rural regions especially in the developing and the underdeveloped nations has low infrastructure that makes the adoption of the broadband services impossible for the customers. Moreover, the lack of electricity in majority of the rural areas is a major challenge for the market players that may restrict the growth.
Some of the prominent players in the global broadband services market include:
- Comcast
- Cox Communications, Inc.
- AT&T Intellectual Property
- Verizon Communications, Inc.
- Time Warner Cable, Inc.
- Rogers Communications, Inc.
- Charter Communications, Inc.
- Qwest Communications International, Inc.
- Cablevision Systems Corp.
By Geography
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Click Here to View Full Report Table of Contents
Buy this Premium Research Report@ https://www.precedenceresearch.com/checkout/1519
You can place an order or ask any questions, please feel free to contact at sales@precedenceresearch.com | +1 9197 992 333
About Us
Precedence Research is a worldwide market research and consulting organization. We give unmatched nature of offering to our customers present all around the globe across industry verticals. Precedence Research has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings. We are obliged to serve our different client base present over the enterprises of medicinal services, healthcare, innovation, next-gen technologies, semi-conductors, chemicals, automotive, and aerospace & defense, among different ventures present globally.
For Latest Update Follow Us:
https://www.linkedin.com/company/precedence-research/
https://www.facebook.com/precedenceresearch/
https://twitter.com/Precedence_R
