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In-Building Wireless Market - Exploration Trends, Analysis, Growth Prospects And Forecast 2033
In-Building Wireless Market
According to The Business Research Company's, The in-building wireless market size has grown rapidly in recent years. It will grow from $14.92 billion in 2023 to $16.7 billion in 2024 at a compound annual growth rate (CAGR) of 11.9%. The growth in the historic period can be attributed to mobile data usage surge, transition to 4g networks, rapid smartphone adoption, enterprise mobility requirements, demand for high-quality indoor coverage..
The in-building wireless market size is expected to see rapid growth in the next few years. It will grow to $27.06 billion in 2028 at a compound annual growth rate (CAGR) of 12.8%. The growth in the forecast period can be attributed to iot expansion and connectivity needs, 5g and next-gen connectivity demand, rise in remote work infrastructure, smart building development, increased enterprise demand.. Major trends in the forecast period include 5g network deployment, internet of things (iot) integration, rise in remote work and digital transformation, demand for high-quality indoor coverage, smart building technologies. .
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Market Drivers and Trends:
The growing demand for smartphones is expected to propel the growth of the in-building wireless market going forward. Smartphones refer to cellular phones with a built-in computer and other functionality such as an operating system, internet browsing, and software application. As smartphones became a crucial part of everyday life, in-building wireless helps to provide a way to enhance and distribute wireless connections inside an office or residential building. As a result of the increase in smartphones and cellular subscribers, there is a growing demand for in-building wireless to provide seamless communication. For instance, in January 2023, according to an article by Oberlo, a Lithuania-based online drop shipping company, there are around 6.8 billion smartphone users worldwide. The number of smartphone users have increased by 86.5%. Therefore, the growing demand for smartphones drives the in-building wireless market.
Major companies operating in the in-building wireless market are developing new and innovative products, such as 5G Small Cell, to strengthen their position in the market. 5G small cell refers to a low-power, short-range wireless communication device that operates on the 5th generation (5G) of cellular technology. For instance, in September 2022, Mavenir Systems, Inc., a US-based software company, launched the 5G small cell (E511), to provide high-capacity standalone coverage for in-building environments. This product supports both distributed and centralized Open Radio Access Network (O-RAN) architectures. With over 2 million small cell units deployed globally, Mavenir's 5G small cell adds to its expanding portfolio, utilizing the end-to-end RAN solution and a common Management System and CU. The product's flexibility, coupled with zero-touch provisioning, makes it a cost-effective and high-capacity solution suitable for various deployment scenarios, including offices, retail spaces, warehouses, manufacturing facilities, and public areas.
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Major Key Players of the Market:
Nokia Corporation; Telefonaktiebolaget LM Ericsson; Huawei Technologies Co Ltd.; NEC Corporation; Axell Wireless Ltd.; Comba Telephone Systems Holdings Ltd.; Dali Wireless Inc.; Zinwave Limited; Airspan Networks; ZTE Corporation; Corning Inc.; Solid Technologies Inc.; Samsung Electronics Co. Ltd.; Fujitsu Limited; Verizon Communications Inc.; CommScope Holding Company Inc.; AT&T Inc.; Cobham Limited; TE Connectivity Ltd.; Alcatel-Lucent Enterprise; Anixter International Inc.; Infinite Electronics Inc.; JMA Wireless; Oberon Inc.; Pierson Wireless Corp.; Contela Inc.; Corning Optical Communications LLC; Advanced RF Technologies Inc.; Beatcom Inc.orporated; Bird Technologies
In-Building Wireless Market 2024 Key Insights:
• The in-building wireless market will grow to $27.06 billion in 2028 at a compound annual growth rate (CAGR) of 12.8%.
• Rising Adoption Of Smartphones To Drive Market Growth
• Product Innovations Transforming The In-Building Wireless Market
• Asia-Pacific was the largest region in the in-building wireless market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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