Next Generation Wireless Network Market Share

APAC Market Statistics

The Asia Pacific industry is set to account for largest revenue share by 2037. The growth of the market can be attributed the increasing penetration of smartphones, tablets, and other connected devices, as well as the emergence of new applications such as video streaming and the Internet of Things. As a result, there has been an increase in data traffic, resulting in the need for more robust wireless networks to support this increased demand. As a result of the development of smartphones, the share of India's and China's mobile traffic has increased from 12% to nearly 50% over the past decade. Global mobile data traffic is dominated by China with 26% share, followed by India with 23%. A staggering 12 GB of mobile data is used per user in India every month, and 28 million new smartphones are added every quarter. As the amount of data traffic in a region grows, the amount of bandwidth and capacity needed to support it increases, making the need for more advanced wireless networks to handle it. This increased demand for more advanced networks is what is driving the regional market growth.

North American Market Forecast

The North America next generation wireless network market, amongst the market in all the other regions, is projected to hold the second largest share during the forecast period. The North America region is increasingly embracing the latest technologies and connected devices, such as 5G, the Internet of Things (IoT), and artificial intelligence (AI), which are expected to create immense opportunities for the growth of the wireless network market in the region. As a result, these technologies can provide faster, more reliable and secure wireless connections, which are crucial for the success of businesses in the current digital era. The implementation of advanced technologies such as smart roads, smart cars, as well as home automation is also expected to have a significant impact on the growth of the market in the region. As of 2023, over 58 million US households are expected to be using smart home devices. Smart home devices were in 55 million households in 2022, which is 3% higher than this year. Current wireless networks are limited in range, speeds, and the number of devices they can support. Next generation wireless networks allow more devices to be connected at once, provide faster download speeds, and extend their range to cover larger areas. This will be especially significant for homes that have smart devices that require an internet connection.

Europe Market Forecast

Further, the next generation wireless network market in the Europe, amongst the market in all the other regions, is projected to hold a majority of the share by the end of 2037. The growth of the market can be attributed to the increasing demand for better communication networks and the growing adoption of 5G technology. The increased need for high-speed data networks for various applications along with the increasing investment from telecom operators in the region is expected to boost market growth. Additionally, the region has access to high-speed broadband networks, which allows companies to take advantage of the latest technologies and expand their operations. All of these factors are expected to contribute to the growth of the European telecommunications market in the coming years.