According to a new report by Vantage Market Research, the wireless backhaul market is expected to reach USD 16.52 Billion by 2028, growing at a CAGR of 14.9% from 2021 to 2028. The increase in the number of mobile and internet users around the world is increasing rapidly, due to the rise in smartphone penetration and advanced connectivity. The network connectivity around the world has led to flourishing mobile data traffic. As a result of traction in mobile data traffic, the demand for network capacity has enormously increased.
- Under the component segment and Solution, the sub-segment is projected to grow at a CAGR of over 9.8% over the forecast period owing to the increasing adoption in the telecommunication industry.
- The rack-type segment held a market share of around 31.25% in 2020. This share is due to the increasing utilization in telecommunication sectors among countries such as China, India, and the U.S.
- North America is expected to expand at a CAGR of over 21.4% from 2021 to 2028. This surge is attributed to the rising demand for mobile connectivity and rapid communication services in countries in U.S. and Canada.
Some of the key players in the Wireless Backhaul Market include Cisco System, Nokia, ZTE Corporation, Huawei, Erricson, NEC, Fujitsu, and others.
With the rapid interest in the IoT, it has been a colossal development of information being added to organizations and information handling. The ascent sought after for organizations to be IoT-prepared is relied upon to make a huge benefit for telecom specialist co-operations. The diminishing sensor costs have brought about the thriving utilization of IoT sensors. A number of organizations are executing IoT services and solutions to update their requirements with the utilization of IoT later on. Mobile and wireless backhaul arrangements that give adaptability, low inertness, and superior execution, and limit are the changes for IoT applications. Considering the assistance of cutting edge backhaul arrangements, administrators would be effectively addressed for IoT necessities and empower correspondence and trade information and get activities from every day utilized with actual articles. The ascent interest for network availability for IoT execution is relied upon to support worldwide market development in the forthcoming years.
North America region is poised to record the highest CAGR. This is
attributable to the increasing demand in rapid communication and advanced
connectivity in countries such as the U.S. and Canada, coupled with the expansion
of industrial sectors like aerospace, automation, electronic and semiconductors,
and other applications in industries is to surge the growth in this region's
overall wireless backhaul market.