The WTTx Market size is projected to grow from USD 4.9 billion in 2022 to USD 33.0 billion by 2027, at a CAGR of 46.4% during the forecast period. Government initiatives to establish smart cities and WTTx-5G deployment coverage in untapped rural and urban regions are driving the WTTx market growth.
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By operating frequency, above 24 GHz segment to have highest growth rate during forecast period
Millimeter wave (mmWave) 5Gallh operates in an area above 24 GHz and has access to massive amounts of data, allowing speeds of more than 1 Gbps. This is the current spectrum used by mobile operators, such as Verizon for 5G, and T-mobile and AT&T’s 5G networks. mmWave quickly shows the benefits of 5G with its incredible speed and capacity. The high bands are TDD-based and provide high capacity when used with Massive MIMO.
By component, services segment to grow at highest CAGR during forecast period
Device and service orchestration platforms under the WTTx market provide a great digital experience across wireless broadband technologies while lowering operational expenses. WTTx services help in resource management, automation fulfillment, and business process management. The service segment of the WTTx market has been broadly classified into managed services and professional services. Companies must provide better local support, thus helping launch new networks and services, tailored technical support, and onsite troubleshooting. The global managed services segment is highly fragmented and comprises players from diverse backgrounds, ranging from specialized MSSPs to telecommunication companies, system integrators, and VARs.
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Various globally established players such as Huawei (China), Nokia (Finland), Ericsson (Sweden), Qualcomm (US), and Samsung (South Korea) are dominating the WTTx market. These players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches and product enhancements, and acquisitions, to expand their footprint in the WTTx market.
Huawei held the majority of the WTTx market share in 2022. It is one of the world’s largest telecommunication equipment manufacturers and Information and Communications Technology (ICT) service and solution providers. In November 2019, Huawei launched WTTx Suite 2.0, a 5G-oriented AI-based solution for remote locations, and offers WTTx service and support service management. The suite can update the service, providing a map online within 30 minutes. In February 2019, Huawei added 5G CPE Pro to its portfolio. HUAWEI 5G CPE Pro provides ultra-fast broadband connections with a 5G SIM card and plug-and-play solution.
Another important player in the WTTx market is Nokia (Finland Nokia operates through two major business segments: Nokia Networks and Nokia Technologies). In May 2022, Nokia added new 5G wearable and video camera to improve video surveillance in its existing private wireless solution. These new wearable devices and digital twinning will enable manufacturers, public safety agencies, mine owners, and other enterprises to connect with their employees, workers, and machines securely. In July 2022, Nokia announced a five-year agreement with Ice to provide high-capacity equipment, such as 5G Massive MIMO, to support all types of spectrum bands. The company will modernize approximately 3,200 base stations in this agreement and deploy 3,900 new base stations.
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