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According to the new market research report, the global market revenue of 5G fixed wireless access (FWA) is expected to reach $369 million in 2019 and jump to $46.366 billion in 2026, with a compound annual growth rate of 97.47% during that period.

Key drivers of growth in the market include growing demand for high-speed Internet connections and extensive network coverage, reduced latency and power consumption, and increased adoption of advanced technologies such as machine-to-machine (M2M)/Internet of things (IoT) and millimeter wave, the report said.

The continuous development of broadband and cellular networks enables users to experience faster data transmission rates with low latency.The growth in demand for data services is mainly due to the increasing use of consumer electronic devices and data-intensive applications such as virtual and augmented reality, 3D and ultra-high definition video.More bandwidth is needed to support the growing data traffic.5G is expected to provide more than 1,000 times more high-capacity bandwidth than its predecessor, 3G and 4G.As a result, growing data traffic will force network operators to provide their customers with high-speed bandwidth.

In general, upgrading or deploying infrastructure in urban and suburban areas is challenging due to the high cost of civil engineering and the complexity associated with high-rise buildings.Whether replacing aging wired infrastructure or connecting to new network nodes, FWA can overcome challenges by providing high-capacity and low-latency wireless connectivity.

5G fixed wireless access is an ideal alternative primarily for residential users, who can get gigabit speeds at competitive prices without facing installation problems.With more than 2 billion homes worldwide, and looking at current industry trends, less than half of them are likely to have fixed copper or fiber optic broadband connections by 2023.Building a fixed broadband infrastructure is not economically feasible in many countries.According to itu, the addressable market may be close to one billion households with no fixed broadband connection or poor fixed broadband connection, creating opportunities for FWA deployment.

Regionally, North America is expected to take the largest share of the global 5G fixed wireless access market during the forecast period, with the us and Canada adopting 5G FWA solutions and services at a high rate.These countries have sustainable and well-established economies that enable them to contribute significantly to the development of new technologies by investing heavily in research and development activities.North America's entrepreneurial culture is growing faster than anywhere else.North America is one of the major markets for 5G in terms of research and development, network design/deployment, and the presence of major players.In North America, the United States is considered to have the largest user base and is expected to grow as new subscribers grow.

From the point of service providers, 5 g fixed wireless access market participants include huawei (China), qualcomm (USA), nokia (Finland), samsung (South Korea), Ericsson (Sweden), Mimosa Networks (USA), Cohere Technologies (USA), Siklu Communication (Israel), AT&T (American), verizon (USA), Cisco (USA), Arqiva (UK), Cellular South (USA),Orange SA (France), Cellular Corporation (USA), TELUS (Canada), telefonica, MTN (South Africa), swisscom and Croatian telco, etc.