Tuesday, 21 June 2022 12:00

Fact.MR report: Smart building market to hit $51.8 billion by 2032

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In-building wireless market is poised to secure a market value of US$36 billion ($51.8 billion) while recording CAGR of 10.8% from 2022-2032 due to rapid digital transformation and deployment of smart buildings, according to an analysis by Fact.MR.

The in-building wireless industry is expected to grow at US$23.1 billion ($33 billion), the study projects.

In 2015-2021, the market expanded at an 11.9% value CAGR, concluding at US$ 11.5 billion ($16.5 billion).

Property owners are focusing to offer reliable communication in emergency cases through public safety norms, benefitting the market in the forecast period. Providing Wi-Fi coverage in large buildings is important, thus, reliable cell phone service in commercial spaces has been gaining notable traction, thereby, which is expected to bolster the market during the assessment period.

Distributed antenna system (DAS) is projected to be a lucrative segment during the forecast period, with various entities seeking to leverage the solution.

Fact.MR cites the Notre Dame Stadium as an example. The stadium is investing in antennas to ensure robust and reliable cell service.

Likewise, in February 2020, Corning and Qualcomm announced a partnership to offer a 5G mmWave infrastructure system for organisations and public venues and enhance in-building 5G implementation.

Fact.MR highlights the following key points:

1. Global in-building wireless market valuation to surge 2.8x from 2022-2032

2. The US market is expected to secure US$12.4 billion ($17.8 billion) by 2032, growing at a 10.3% CAGR

3. UK projected to exhibit a CAGR of 9.8% during the forecast period 2022-2032

4. Chinese market is anticipated to garner a market value of US$ 2.5 billion ($3.6 billion) by 2032

5. Japan and South Korea to generate absolute opportunities worth US$ 1.2 billion ($1.7 billion) and US$679.4 million ($978 million) respectively

6. By end-user, the hospitality segment is expected to lead the market while displaying a CAGR of 10.2%

7. By component, the infrastructure segment is projected at a CAGR of 10.3% by 2032

“As demand for seamless connectivity to ensure building operations rises, various industries are exploiting various in-building wireless solutions, providing key service providers with ample opportunities for introducing sophisticated solutions,” explains a Fact.MR analyst.

Fact.MR highlights the following analysis:

Key players in the market include Ericsson, Nokia, Huawei, CommScope, and NEC. Players in the global in-building wireless market adopt various strategies such as partnerships, collaborations, and acquisitions, among others.

Fact.MR reported the following developments:

In 2020, Comba Telecom, disclosed a partnership with Parallel Wireless to remit 4G and 5G virtualised Open RAN

In February 2020, CommScope rolled out open interfaces, virtualised RAN functions, and new radio points for its OneCell small cell to offer an accessible approach for various operators to install 5G networks in companies.

In April 2020, Ericsson announced a partnership with GCI to integrate the first 5G cell sites in Anchorage, US. GCI intended to upgrade various cell sites in Eagle River, Anchorage, and Girdwood to the 5-band 5G NR solution.

This first appeared in the subscription newsletter CommsWire on 20 June 2022.

 

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Kenn Anthony Mendoza

Kenn Anthony Mendoza is the newest member of the iTWire team. Kenn is also a contributing writer for South China Morning Post Style, and has written stories on Korean entertainment, Asian and European royalty, Millionaires and Billionaires, and LGBTQIA+ issues. He has been published in Philippine newspapers, magazines, and online sites: Tatler PhilippinesManila BulletinCNN Philippines LifePhilippine StarManila Times, and The Daily Tribune. Kenn now covers all aspects of technology news for iTWire.com.

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