Wireless Backhaul Market is Expected to Rise at a CAGR Of 14.98% During 2020-2028
According to Vantage Market Research, the Global Wireless Backhaul Market was valued at USD 9.12 Billion in 2020 and is expected to grow at a Compound Annual Growth Rate (CAGR) of 14.98% between 2021 to 2028. Wireless backhauls market deals with the use of communication systems that are not connected through wire and are wireless by nature to retrieve data from the end-user on a broader network such as a government agency, educational institution, large business-related network, or the Internet.
Increasing Awareness and Growing Trend of Globalization to Spur the Market Growth
The growing trend of globalization plays a vital role in the growth of the global mobile and wireless backhaul industry and people are now adopting fast and efficient communication technologies. Hence, the growing demand for mobiles from the industry is the main reason for the growth of the global market. Furthermore, the economic growth of emerging markets and the proliferation of internet and mobile communication technologies are now expected to set up new markets for mobile and wireless backhaul.
The wireless backhaul market in segmented on the basis of component market is bifurcated into equipment and services and the equipment segment is divided into microwave and sub-6 Ghz while services segment is bifurcated into designing & consulting and integration & deployment. On the basis of network technology, the market is bifurcated into 2G, 3G, 4G and 5G.
Due to the COVID-19, complete bans were imposed by many governments and many people are now relying on the internet for work, ordering online and using wireless services for entertainment purposes. As a result, there is a high level of network data traffic this contributes to the increase in demand for wireless backhaul market.
North America region is expected to grow at a high rate over the coming years and is the dominating region. This is attributable to the presence of top companies such as Broadcom and Aviat, among others. Moreover, the increasing usage of wireless backhaul and technological advancements is expected to generate huge demand for the market in this region.
Some of the major players operating in the global wireless backhaul market includes SIAE, Cisco, Brocade, Huawei Technologies, Aviat (Harris Corp), Nokia Networks, Ericsson, Broadcom, NEC Corporation and Ceragon, among others.