The global 5G Fixed Wireless Access (FWA) market has been growing steadily, experiencing significant revenue growth. In 2022, the market generated approximately $17.8 billion in revenue, a number that significantly increased to $24.6 billion in 2023. The market is expected to surpass expectations in the foreseeable future, with revenue forecasts of $156.7 billion in 2029, $208.6 billion in 2030, $287.8 billion in 2031, and an impressive $411.5 billion in 2032.
The market growth can be attributed to both hardware and services offerings. In 2022, the total revenue was $17.8 billion, with $11.0 billion allocated to hardware and $6.8 billion to services. By 2030, it is predicted that the total market revenue will reach $208.6 billion, with $129.2 billion allocated to hardware and $79.3 billion to services.
The 5G FWA market covers various sectors. The largest portion of the market is residential usage, accounting for 38% of the market share, followed by commercial applications at 27% and the industrial sector at 11%. Government applications also have a significant share in the 5G FWA market, accounting for 18%, reflecting their significant involvement in this sector.
The global territory of FWA technology is also growing rapidly. In 2020, there were 4.26 million FWA connections utilizing 5G technology, while a significantly larger number of 68.18 million connections were through 4G and other technologies. This trend is expected to continue, with projections of 236.22 million 5G connections and 63.82 million dependent on 4G and other technologies by 2028.
In addition, 5G mobile subscriptions have experienced significant growth. By 2028, it is predicted that the Northeast Asia region will have 1,615.39 million subscriptions, Western Europe will have 491.79 million, and North America will have 405.4 million, highlighting the growing importance of 5G technology in the global telecommunications market.
As consumer internet usage patterns evolve, video content dominates online activities. In 2021, it is projected that video traffic on IP networks will account for 82% of all internet traffic. This underscores the need for fast internet access, which 5G FWA provides, to support data-intensive activities such as video streaming and gaming.
In conclusion, the global 5G FWA market continues to grow, experiencing significant revenue growth and expanding its applications in various sectors. It is expected that in the coming years, the market will reach new heights, driven by the growing demand for fast internet connections and widespread adoption of 5G technology.