Portland, OR , April 24, 2023 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global WTTx market garnered $5.0 billion in 2022, and is estimated to generate $202.8 billion by 2032, manifesting a CAGR of 45.1% from 2023 to 2032. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers a valuable guidance to leading players, investors, shareholders, and startups in devising strategies for the sustainable growth and gaining competitive edge in the market.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2023-2032 |
| Base Year | 2022 |
| Market Size in 2021 | $5.0 billion |
| Market Size in 2031 | $202.8 billion |
| CAGR | 45.1% |
| No. of Pages in Report | 416 |
| Segments covered | Component, Enterprise Size, Frequency Type, and Region. |
| Drivers | Surge in government initiatives to develop smart cities Surge in demand for wireless broadband service The economic benefits of WTTx for mobile network operators |
| Opportunities | Surge in integration of 5G and Internet of Things (IoT) |
| Restraints | The harmful impact of wireless transmission and performance disturbance due to distance limitations |
Covid-19 Scenario:
- The outbreak of the COVID-19 pandemic had a positive impact on the growth of the global WTTx market, owing to implementation of global lockdown which resulted in an increasing work-from-home trend, which further caused a global incline in the demand for broadband network connectivity
- The global WTTx market has a huge scope to grow in the post-pandemic.
The research provides detailed segmentation of the global WTTx market based on component, organization size, frequency type, and region. The report discusses segments and their sub-segments in detail with the help of tables and figures. Market players and investors can strategize according to the highest revenue-generating and fastest-growing segments mentioned in the report.
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Based on component, the hardware segment held the highest share in 2022, accounting for more than two-fifths of the global WTTx market, and is expected to continue its leadership status during the forecast period. However, the services segment is expected to register the highest CAGR of 47.6% from 2023 to 2032.
Based on organization size, the large enterprises segment accounted for the highest share in 2022, contributing to around three-fifths of the global WTTx market, and is expected to maintain its lead in terms of revenue during the forecast period. However, the SMEs segment is expected to manifest the highest CAGR of 46.8% from 2023 to 2032.
Based on frequency type, the 1.8 GHz -Sub 6 GHz segment accounted for the highest share in 2022, holding more than two-fifths of the global WTTx market. However, the 24 GHz and above segment is estimated to grow at the highest CAGR of 47.5% during the forecast period.
Based on region, North America held the largest share in 2022, contributing to more than one-third of the global WTTx market share. In addition, the Europe region is expected to manifest the fastest CAGR of 47.4% during the forecast period and is projected to maintain its dominant share in terms of revenue in 2032.
Leading market players of the global WTTx market analyzed in the research include Nokia Corporation, Samsung Group, Keysight Technologies, Telefonaktiebolaget LM Ericsson, Cohere Technologies, CommScope, Airspan Networks Inc., Fibocom Wireless Inc., Huawei Technologies Co., Ltd., Qualcomm Technologies, Inc.
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The report provides a detailed analysis of these key players of the global WTTx market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
