PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1178188
PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1178188
Global In-Building Wireless Market is set to witness significant growth through 2032, primarily owing to the increasing demand for intelligent and smart buildings. Smart buildings comprise microchips, actuators, and sensors for centralized control systems, which offer better scalability and flexibility. The market growth could further be credited to the ongoing automation platforms development by key competitors to streamline these smart building applications.
Besides, rapidly growing urbanization is also expected to foster the market demand. Since people living in urban areas use more internet than those living in rural areas, the demand for the in-building wireless market will grow with the current tendency of urban sprawl.
Additionally, key market operators are continuously trying to strengthen the market position by expanding their product portfolios and engaging in meaningful partnerships. For instance, in November 2022, T-Mobile US struck an expanded deal with ExteNet, the network infrastructure provider. Both firms announced that the exclusive agreement includes the deployment of digital wireless infrastructure in entertainment, large sports, hospitality, and transportation venues.
Overall, the in-building wireless market has been bifurcated in terms of component, infrastructure, small cell, service, deployment, end-user, and region.
Based on component, the service segment will grow significantly, owing to the growing demand for network consulting services as a result of the rapid expansion of telecom infrastructure. The consulting services offer guidelines for implementation of telecom infrastructure to boost the connectivity across different areas.
In terms of service, the integration and deployment segment is expected to register more than 9.5% CAGR over 2023-2032. Apart from providing deployment, design, integration testing services, and customized solutions to telecom equipment manufacturers and service providers, integration and deployment services also help in maintaining high performance, resiliency, and high availability across businesses. Increasing business activities require cutting-edge internet facilities, which will fuel the market demand through 2023-2032.
On the basis of deployment, the urban segment will grow significantly between 2023 and 2032, primarily owing to the densely concentrated population, which uses data services more extensively.
In the context of end-user, the healthcare segment catered to more than 22% of the total market volume in 2022 and will expand significantly by 2032 end. The in-building wireless solution allows flawless communication between doctors, patients, and other teams within a hospital. Furthermore, medical institutions benefit from centralized management of equipment such as Wi-Fi devices, low-voltage lighting, and wireless security cameras. Moreover, expanding healthcare infrastructure across the globe is expected to drive the segmental growth.
In the regional context, the North America in-building wireless market will grow substantially through 2032. The increasing demand for 5G commercialization would enable telecom components and service providers to produce advanced telecom infrastructure and related parts, thus fuelling the market growth.