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Wireless Infrastructure Market 2024 - By Size, Share, Trends, Demand, Global Challenges, Competitive Growth And Outlook By 2033
Wireless Infrastructure Market
According to The Business Research Company's, The wireless infrastructure market size has grown rapidly in recent years. It will grow from $193.69 billion in 2023 to $214.45 billion in 2024 at a compound annual growth rate (CAGR) of 10.7%. The growth in the historic period can be attributed to increasing population all over the world, increasing smartphone and internet penetration rates, growing network and increasing technology infrastructure, increased use of high-tech infrastructure, demand for high-speed internet connectivity.
The wireless infrastructure market size is expected to see rapid growth in the next few years. It will grow to $318.59 billion in 2028 at a compound annual growth rate (CAGR) of 10.4%. The growth in the forecast period can be attributed to increase in demand for connected cars, rising use of remote sensing technology, rising demand for connected car devices, rising internet penetration globally, rising use of satellite data in development of smart cities and connected vehicles. Major trends in the forecast period include adoption of latest technologies, growth of wireless networking technology, advent of digitalization in various sectors, rapid adoption of IoT-based electronic devices, rapid adoption of 5G technology.
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Market Drivers and Trends:
The increase in demand for connected cars is expected to propel the growth of the wireless infrastructure market going forward. A connected car refers to a vehicle equipped with internet connectivity that enables bidirectional communication with external systems. With the innovation in enhanced safety features, consumer interest, value, and environmental concerns, there is a rise in connected car demand. Wireless infrastructure is used in connected cars to enable communication between vehicles and networks, such as the internet, road infrastructure, and other vehicles or pedestrians. For instance, in March 2022, according to the Otonomo Report, an Israel-based company that provides a cloud-based SaaS solution for car manufacturers, the number of connected vehicles on the road will increase from approximately 237 million in 2021 to over 400 million by 2025. 96% of cars will be connected by 2030. Therefore, the increase in demand for connected cars is driving the growth of the wireless infrastructure market.
Major companies operating in the wireless infrastructure market are developing innovative advanced solutions such as virtuora service management and orchestration (SMO), a network management and orchestration technology, to help reduce energy consumption and improve the network's overall efficiency. For instance, in September 2022, Fujitsu Network Communications (FNC) Inc., a US-based company that provides digital transformation solutions for network operators, announced virtuora service management and orchestration (SMO). It is an innovative solution that leverages advanced technologies such as AI and ML and cloud-native frameworks to enable automated service delivery over diverse networks while meeting the demands of emerging 5G use cases. Additionally, it includes features like advanced analytics, lifecycle service orchestration, network orchestration, and energy savings in network operations. It also manages multivendor open RAN networks to facilitate RAN service provisioning.
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• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
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Major Key Players of the Market:
Samsung Electronics Co. Ltd., Huawei Technologies Co. Ltd., Intel Corporation, Cisco Systems Inc., Qualcomm Technologies Inc., Fujitsu Limited, Hewlett Packard Enterprise, Telefonaktiebolaget LM Ericsson, Nokia Corporation, NEC Corporation, Capgemini Engineering, ZTE Corporation, Corning Incorporated, NXP Semiconductors, Motorola Solutions Inc., CommScope Holding Company Inc., Juniper Networks Inc., Arista Networks Inc., Ciena Corporation, Extreme Networks Inc., ADTRAN Inc., Mavenir Systems Inc., D-Link Corporation, RAD Data Communications Ltd., ARRIS International plc
Wireless Infrastructure Market 2024 Key Insights:
• The Wireless Infrastructure Market is expected to grow to $318.59 billion in 2028 at a compound annual growth rate (CAGR) of 10.4%.
• Surge In Connected Cars Fuels Expansion In The Wireless Infrastructure Market
• Revolutionize Wireless Infrastructure Management With Advance Solution
• North America was the largest region in the wireless infrastructure market in 2023. The regions covered in the wireless infrastructure market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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