Rising Demand for Smart and Intelligent Buildings Widening Scope for In-Building Wireless Solution Providers
Rockville, April 15, 2024 (GLOBE NEWSWIRE) — Global in-building wireless solutions market is estimated to reach a market valuation of US$ 43.6 billion in 2024, as stated in the latest study published by Fact.MR, a market research and competitive intelligence provider. Projections are that the market will expand at a CAGR of 10% from 2024 to 2034.
Increasing demand for smart and intelligent devices along with the rising number of smartphone users around the world are projected to positively influence global market trends. The rising consumption of mobile internet with the evolution of smart mobile devices as sophisticated multi-functional tools instead of mere communication devices is projected to generate demand for in-building wireless services.
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Segmentation of In-Building Wireless Market Research:
| By Component | By Business Model | By Venue | By End User | By Region |
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Growing commercialization of the 5G network is projected to contribute to the increased adoption of in-building wireless solutions. In addition, increased requirements for improved broadband and cellular coverage are estimated to stimulate companies to opt for faster networks, thus contributing to global market growth.
Key Takeaway from Market Study
- Worldwide demand for in-building wireless services is calculated to reach a market valuation of US$ 43.6 billion in 2024.
- The global in-building wireless market has been forecasted to grow to a size of US$ 113 billion by the end of 2034.
- The market is projected to advance at 10% CAGR from 2024 to 2034.
- North America is approximated to hold 31.5% share of the global market by the end of the forecast period in 2034.
- The manufacturing sector is anticipated to account for 20% share of global market revenue by 2034.
- Demand for in-building wireless solutions in South Korea is projected to accelerate at a CAGR of 11.6% through 2034.
“Increasing requirements for defined and unique network coverage, digital transformation, rising trends of intelligent and smart buildings, and implementation of various public safety measures are contributing to the growing adoption of in-building wireless solutions,” says a Fact.MR analyst.
Increasing Demand for Defined and Specific Network Coverage in United States
Demand for in-building wireless services in the United States is anticipated to increase at a 9.8% CAGR and reach US$ 16.2 billion by 2034. Rising demand for well-defined and specific network coverage is projected to lead to the increased adoption of in-building wireless solutions. In addition, the presence of some prominent players in the country is also projected to contribute to market expansion.
Key Market Players
Some of the leading providers of in-building wireless services are Comba Telecom Systems Holdings Ltd., Nokia Corporation, Airspan Networks, Ericsson, Zinwave, Huawei Technologies Co., Dali Wireless, NEC Corporation, Axell Wireless, and CommScope Inc.
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| Report Attribute | Details |
| Value Projection (2034) | US$ 113 Billion |
| Growth Rate (2024-2034) | 10% CAGR |
| No. of pages | 170 Pages |
| No. of Tables | 60 Tables |
| No. of Figures | 102 Figures |
Increasing Dominance of Infrastructure Segment
According to Fact.MR study, the infrastructure segment is forecasted to hold 58% share of the global market by the end of 2034. An expansion of the segment is owing to the increasing demand for consistent mobile services. In addition, various hospitals are also deploying in-building wireless solutions to provide outdoor cellular signals. These services are experiencing increased demand due to their ability to cope with inconsistent cellular network issues.
As per the Fact.MR analysis, the manufacturing sector is approximated to account for 20% share of the global market by 2034-end. In the manufacturing sector, in-building wireless systems enable users to integrate their machines, sensors, manpower, vehicles, and numerous other devices. These solutions cater to multiple issues, including service quality, compliance, security, and reliability with active involvement in the organization network.
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the in-building wireless market, presenting historical demand data (2018 to 2023) and forecast statistics for the period (2024 to 2034).
The study divulges essential insights into the market based on component (infrastructure, services), business model (service providers, enterprises, neutral host operators), venue (large, medium, small), and end user (government, manufacturing, transportation & logistics, retail, hospitality, healthcare), across six major regions of the world (North America, Europe, East Asia, Latin America, South Asia & Oceania, and MEA).
Checkout More Related Studies Published by Fact.MR Research:
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5G Core Market: Global revenue of 5G core in 2021 was held at US$ 1.1 Billion. Further, the market is projected to grow at a CAGR of 26.7% during 2022-2032.
Public Safety Software Market: Worldwide demand for public safety software is forecasted to rise at a prolific CAGR of 11.2% and reach a market size of US$ 28.68 billion by the end of 2033.
About Us:
Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.
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