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Wireless Internet Services Market Trends, Market Share, Size, Growth Status And Forecast To 2033
Wireless Internet Services Market Trends
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According to The Business Research Company's, The wireless internet services market size has grown steadily in recent years. It will grow from $667.14 billion in 2023 to $695.86 billion in 2024 at a compound annual growth rate (CAGR) of 4.3%. The growth in the historic period can be attributed to proliferation of mobile devices, 4g and 5g networks, internet of things (iot), mobile broadband, rural connectivity.
The wireless internet services market size is expected to see strong growth in the next few years. It will grow to $896.88 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. The growth in the forecast period can be attributed to remote work and telehealth, industry 4.0, autonomous vehicles, smart cities, edge computing. Major trends in the forecast period include wi-fi 6 (802.11ax) adoption, satellite internet services, fixed wireless access (fwa), cloud gaming and streaming.
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Market Drivers and Trends:
The government initiatives aiming at developing infrastructure is a key factor driving the growth of the wireless internet services market. With growing government initiatives and environmental campaigns taking center stage, technology providers and specialists have actively started simulating creative solutions based on technical modules for the design and growth of urban infrastructure in several regions. For instance, in India, the successful execution of smart city projects is heavily dependent on technologies such as data connectivity, cloud, mobility, and sensors, all shaping IoT together. Over the next 20 years, city governments in the United States alone will spend $41 trillion on infrastructure upgrades and IoT solutions. Most cities are considering using smart city technology, and over two-thirds of cities have actually made investments in it. The reality of smart cities will be further cemented by increased federal financing as well as solid relationships with local governments and private sector technology companies. Therefore, government initiatives for smart city projects is expected to drive the wireless internet services market growth.
The companies in the wireless internet services market are increasingly implementing Li-Fi (Light Fidelity) technology to improve their service offerings. Li-Fi or light fidelity uses light signals to transfer data between devices and produces a greater range than Wi-Fi, with transmission speeds of up to 224 gigabits per second. Smart homes will rely on Li-Fi technology in the future because it is faster and more reliable as light cannot penetrate through walls, and the signal cannot be compromised from a remote location. For instance, in January 2022, Comcast Corporation, a US-based media and technology company, unveiled its next-generation xFi Advanced Gateway, featuring WiFi 6E technology. The new gateway will boost capacity in the home with three WiFi bands, such as 2.4 GHz, 5 GHz, and a new 6 GHz band with a faster, more reliable wireless connection. This gateway provides a home WiFi experience with the fastest speeds, advanced cybersecurity protection, and broad coverage.
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Major Key Players of the Market:
Cisco Systems Inc., Huawei Technologies Co.Ltd., ARRIS International LLC, Aerohive Networks Inc., Singapore Telecommunications Limited, Rogers Communications Inc., Telstra Corporation Limited, Viasat Inc., ADTRAN Inc., Aruba a Hewlett Packard Enterprise company, Extreme Networks Inc., Fujitsu Limited, Superloop Limited, iPass Inc., Arista Networks Inc., Ubiquiti Inc., Fortinet Inc., Riverbed Technology Inc., 4ipnet Inc., Edgecore Networks Corporation, Mist Systems a Juniper Networks company, ALE International, Allied Telesis Inc., LANCOM Systems GmbH, D-Link Corporation, Boingo Wireless Inc., AT&T Inc., Verizon Communications Inc., T-Mobile US Inc., Comcast Cable Communications LLC, Hughes Network Systems LLC, Viasat Inc., AlwaysON Group, AT&T Inc., Charter Communications Inc., EarthLink LLC, Cricket Wireless LLC, MetroNet Inc., Windstream Holdings Inc., Rise Broadband, Google Fiber Inc., CenturyLink Inc., Frontier Communications Corporation, Mediacom Communications Corporation, Altice USA Inc., RCN Corporation, Altice USA Inc., WideOpenWest Finance LLC, Cincinnati Bell Inc., Sonic.net Inc., Consolidated Communications Holdings Inc., Atlantic Broadband, Blue Ridge Communications Inc., Cable ONE Inc., Cogent Communications Holdings Inc., Cox Communications Inc., FiberLight LLC, FirstLight Fiber LLC, GTT Communications Inc., Segra, Masergy Communications Inc., MegaPath Company, NetFortris Company, TPx Communications, Uniti Group Inc., Zayo Group Holdings Inc.
Wireless Internet Services Market 2024 Key Insights:
• The wireless internet services market size is expected to see strong growth in the next few years. It will grow to $896.88 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%.
• Government Initiatives For Smart City Projects Fuel Growth In The Wireless Internet Services Market
• Integration Of Li-Fi Technology Enhances Wireless Internet Services Market Offerings
• The Asia-Pacific was the largest region in the wireless internet services market in 2023
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