How Will The COVID-19 Pandemic Impact The Broadband Service Market By 2030?

 Broadband Services Industry Overview

The global broadband services market size is estimated to reach USD 875.1 billion by 2030, according to the new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 9.6% from 2022 to 2030. The rapidly escalating demand for broadband services due to their ability to offer higher date access to the internet using a wide spectrum of technologies is a major propeller of market growth of the market.

The market is positioned to register strong growth over the forecast period, driven primarily by the steep demand in the market. The high demand is supported by proactive government initiatives, technological advancements for improved user convenience, consumer awareness, and increased usage of devices-such as mobile phones, tablets, MIDs, and eBooks-requiring a broadband connection. The internet speed and widespread availability of broadband services are notable growth-contributors.


Broadband Services Market Segmentation

Grand View Research has segmented the global broadband services market report based on broadband connection, end user, and region:

Based on the Broadband Connection Insights, the market is segmented into Fiber Optic, Wireless, Satellite, Cable, and Digital Subscriber Line (DSL).

  • The fiber optics segment dominated the market and accounted for the largest revenue share of 34.9% in 2021. This high share is attributable to the capacity of fiber optics to carry superior quality network signals from the operator's equipment directly to an enterprise, business, or household.
  • Wireless broadband service is positioned to demonstrate the fastest growth through the forecast period to become the largest segment among all broadband connections by 2030. The rapid growth is supported by technological advancements and user convenience.

 

Based on the End-user Insights, the market is segmented into Business, Household, and Others.

  • The business end-user segment dominated the market and captured the largest revenue share of 44.1% in 2021. Most businesses require a fast and consistent internet connection to communicate internally with employees and externally with business partners and customers.
  • The trend of online learning is speedily gaining momentum as schools, colleges, and universities promptly adopt digital education, thereby requiring a reliable internet connection..

 

Broadband Services Regional Outlook

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa (MEA)

 

Key Companies Profile & Market Share Insights

The market remains an intensely competitive space, driven by the large number of strategic initiatives involved to accelerate the global digital revolution. The providers in the industry are intensely focusing on improvising the technology to meet the demands of the increasing bandwidth applications, high-speed internet requirements, and user-convenience arising from the bandwidth-intensive applications.

Some of the prominent players in the broadband services market include:

  • Comcast
  • Time Warner Cable, Inc.
  • Cox Communications, Inc.
  • Singtel
  • AT&T
  • Verizon Communications, Inc.
  • Qwest Communications International, Inc.
  • Embarq
  • Bell Canada Enterprises, Inc.
  • Sprint Nextel


Order a free sample PDF of the Broadband Services Market Intelligence Study, published by Grand View Research.

 

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

 

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Grand View Research, Inc.

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