Selbyville, Delaware, Jan. 12, 2023 (GLOBE NEWSWIRE) -- As per the report published by Global Market Insights Inc., the Global In-Building Wireless Market was estimated at USD 15 billion in 2022 and is expected to surpass a valuation of $45 billion by 2032, progressing at a CAGR of 10% from 2023 to 2032. The report provides a detailed analysis of top winning strategies, drivers & opportunities, competitive scenario, wavering market trends, market size, statistics & estimations, and major investment pockets.
The soaring demand for improving in-building network connectivity and growing requirement for intelligent and smart buildings as the chief drivers of industry growth. The popularity of the BYOD trend in enterprises is encouraging companies with extensive IT infrastructure to implement in-house wireless solutions. However, given network inconsistencies and complexities, enterprises around the world are expected to increase DAS and cloud RAN equipment adoption.
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Surging demand for network consulting service to propel industry share
The service segment in in-building wireless market is set to depict remarkable growth of over 11.5% from 2023 to 2032. The segment's expansion can be attributed to increased need for network consulting services as a result of the rapid development of telecom infrastructure. The consulting services offer instructions for setting up telecom infrastructure that will increase cellular access throughout the target area.
Key reasons for in-building wireless market growth:
- Rising demand for improving in-building network connectivity.
- Growing BYOD trends across the enterprises.
- Commercialization of next generation 5G network.
- Rising demand for intelligent and smart buildings.
- Growing number of smartphones.
Wide applicability of wireless infrastructure in business operations
The in-building wireless industry from the network consulting segment was recorded at more than 21.5% in 2022 and is slated to showcase decent growth trends until 2032. Companies can provide strategy, assessment, planning and design services that are in line with customer expectations by using network consulting. The provider of network consulting services offers consultancy programs for a variety of applications, including the deployment, planning, security and expansion of telecom infrastructure, thereby pushing market growth.
High population using data services to augment deployment of in-building wireless solutions in urban areas
The urban segment held more than 74% of the industry in 2022 and is primed to witness considerable growth over the forecast years. In metropolitan areas, people are densely concentrated and use data services more extensively. It can be difficult for mobile operators to spot and address capacity issues in these heavily populated locations. Telecom operators deploy small cells to fulfill the demand for efficient management of anticipated traffic offloads and greater network capacity in these locations, propelling in-building wireless market progress.
Significant growth of cellular connectivity to accelerate product adoption in the government sector
The deployment of in-building wireless solutions for the data management of the government sector is poised to remain high through 2032. The government end-user segment is foreseen to exhibit more than 11% CAGR between 2023-2032. Key aspects such as mission-critical communication, remote workforce management and cellular connectivity are fueling the need for in-building wireless solutions from governmental bodies. The segment growth is further driven by favorable cyber security initiatives requiring high-speed data connectivity.
Europe is witnessing substantial transmission of data driving in-building wireless industry
The Europe in-building wireless market is poised to attain 10% gains through 2032. The region may emerge as a major hub for this business owing to telecom operators who are involved in the maintenance, operation and provision of facilities for the transmission of data, voice, text and video through the use of wireless telecommunications infrastructure. The extensive use of smart devices in European cities is also driving the regional development.
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Product innovation strategy to remain a major growth tactic
The competitive landscape of the in-building wireless market is projected to foresee a series of product development, strategic acquisitions & mergers, and expansion of production facilities by industry players. For instance, in September 2022, Mavenir, a Network Software Provider announced the release of its newest 5G small cell. The 5G small cell is part of Mavenir's expanding small cell portfolio, which includes an end-to-end RAN solution with a common Management System and CU. Some of the key players in the in-building wireless industry profiled in the report include Huawei, Samsung Electronics, Fujitsu Limited, and Airspan, among others.
Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 Industry 360º synopsis, 2018 – 2032
2.2 Business trends
2.3 Regional trends
2.4 Component trends
2.5 Deployment trends
2.6 End-User trends
Chapter 3 In-building Wireless Industry Insights
3.1 Introduction
3.2 Impact of COVID-19 outbreak
3.3 Impact analysis of Russia-Ukraine war
3.4 Technological evolution
3.5 Industry ecosystem analysis
3.6 Technology & innovation landscape
3.7 Patent analysis
3.8 Investment portfolio
3.9 Industry news
3.10 Regulatory landscape
3.11 Industry impact forces
3.12 Growth potential analysis
3.13 Porter’s analysis
3.14 PESTEL analysis
Chapter 4 Competitive Landscape, 2022
4.1 Introduction
4.2 Company market share, by revenue, 2022
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About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
