The 5G fixed wireless access market is expected to grow from USD 396 million in 2019 to USD 46,366 million by 2026, at a CAGR of 97.47% from 2019 to 2026.

Major factors driving the growth of the 5G fixed wireless access market are growing demand for high-speed internet connectivity and broad network coverage with reduced latency and power consumption, increasing adoption of advanced technologies such as machine-to-machine (M2M)/Internet of Things (IoT) and millimeter-wave in 5G FWA. However, delay in making decisions related to the standardization of spectrum allocation, high infrastructure costs, adverse impact on the environment are expected to limit the growth of this market.

5G, as a fixed wireless solution, was not in focus until companies such as Verizon and AT&T started discussing the possible impact of 5G FWA on mobile phones, smart homes, connected cars, and smart cities, among various other applications. These companies also plan to launch 5G FWA solutions for end users much before the commercial launch of 5G services.

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The services segment is expected to account for a larger share of nearly 86% of the 5G fixed wireless access market by 2026. The evolution of 5G is likely to take fixed wireless access to a new level with the use of a wide range of radio spectrum owing to which consumers can achieve major capacity gains and low-latency connectivity. Thus, 5G FWA is likely to enhance network performance capabilities and deliver high-speed network coverage compared to currently used connectivity networks. Further, increasing adoption of connected devices, such as smartphones, laptops, smart devices in several commercial and residential applications, such as distance learning, autonomous driving, multiuser gaming, videoconferencing, live streaming, telemedicine, and augmented reality is expected to generate the demand for 5G FWA solutions to achieve extended coverage.

Semi-urban areas are likely to account for the largest share of the 5G fixed wireless access market during the forecast period. In general, it is challenging to upgrade or deploy the foundation infrastructure in urban and semi-urban areas due to the high cost of projects in civil works and complexities associated with high-rise buildings. FWA could overcome the challenge by providing a wireless connection with high throughput and low latency everywhere, whether replacing aging wireline infrastructure or establishing a connection with a new network node.

North America is one of the leading markets for 5G in terms of R&D, network design/deployment, and presence of key players. In North America, the US is considered to have the most engaged user base, which is expected to grow with new subscribers. Full-fledged 5G implementation in North America is expected to boost on-demand video services. In the current scenario, the market for such services is continuously growing. The proliferation of 5G networks in the region is increasing mainly due to the presence of key market players.

For instance, Qualcomm Technologies (US), Mimosa Networks, Inc. (US), Cohere Technologies, Inc. (US), Cellular South, Inc. (C Spire) (US), TELUS Corporation (Canada), United States Cellular Corporation (US), AT&T Inc. (US), Verizon Communications Inc. (US), Cisco (US) are among a few major companies in the 5G market that are actively participating in the development of 5G FWA solutions.

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Rising demand for 5G FWA networks from varied industries, remarkable progress in telecommunications and networking technologies, escalating the demand for IoT and cloud-based services, development of the 5G network, strategic partnerships with system integrators in emerging economies are some of the major opportunities companies have in the 5G fixed wireless access market. The 5G network plays an integral role in meeting various requirements for several connected devices and numerous sensors that are being deployed. Increasing demand for advanced network connectivity to effectively avail IoT and cloud-based services creates significant growth opportunities for 5G FWA providers.

The 5G FWA network offers features such as high-speed data transfer rate, low latency, and consistent connectivity. All these features are useful across various industrial sectors. In smart cities, there are dense arrays of wireless sensors that enable various services and applications, right from environmental services and pollution monitoring to security surveillance, traffic management, and smart parking, among many others. Apparently, the 5G network plays an integral role in meeting various requirements of several connected devices and numerous sensors that are being deployed. Furthermore, in the healthcare sector, the 5G network could become a revolutionary development. For instance, in an emergency, the 5G network can help avail services such as telemedicine and emergency care providers. The wide adoption of the 5G network in different business segments would further increase opportunities for the 5G FWA market.