by According to a research report “Broadband Services Market (By Connection: Fiber Optic, Cable, Satellite, Wireless, and Digital Subscriber Line; By End User: Household, Business, and Others) – Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2021 – 2030″ published by Precedence Research, the broadband services market is projected to grow from USD 409.23 billion in 2022 and is forecasted to reach USD 748.6 billion by 2030; it is expected to grow at a CAGR of 7.8 % from 2021 to 2030.
The study provides an analysis of the period 2017-2030, wherein 2021 to 2030 is the forecast period and 2021 is considered as the base year.
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The internet has witnessed a huge and rapid traction across the globe. The increasing importance of the digital technologies is forcing the various industry players and the customers to shift to the digital platforms. The rising adoption of the latest digital technologies across various industry verticals such as education, retail, healthcare, and banking has significantly driven the growth of the global broadband services in the past few decades.
The rising demand for the implementation and deployment of various technologies such as cloud computing, AI, IoT, and social media is expected to boost the demand for the broadband services across the globe. Moreover, the rising adoption of the online education, work from home, e-commerce, and social media platforms among the consumers and the providers is fueling the growth of the broadband services market. Moreover, the rising government investments in the development of sophisticated telecommunications and IT infrastructure are supporting the broadband services market growth all over the globe.
Table of Contents
Broadband Services Market Estimations Y-O-Y:
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Market Size Was Valued In 2021: US$ 379.82 Billion
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Market Size Is Projected to Grow By 2022: US$ 409.23 Billion
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Market Size Is Projected to Grow By 2023: US$ 441 Billion
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Market Size Is Projected to Grow By 2024: US$ 475.34 Billion
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Market Size Is Projected to Grow By 2025: US$ 512.45 Billion
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Market Size Is Projected to Grow By 2026: US$ 552.58 Billion
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Market Size Is Projected to Grow By 2027: US$ 595.97 Billion
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Market Size Is Projected to Grow By 2028: US$ 642.9 Billion
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Market Size Is Projected to Grow By 2029: US$ 693.68 Billion
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Market Size Is Projected to Grow By 2030: US$ 748.6 Billion
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Compound Annual Growth Rate (CAGR) from 2022 to 2030: 7.8 percent
Scope of the Broadband Services Market
| Report Highlights | Details |
| Base Year | 2021 |
| Forecast Period | 2021 to 2030 |
| Largest Market | Asia Pacific |
| Fastest Growing Region | North America |
| Segments Covered | Connection, End User, Region |
Report Highlights
- Based on the connection, the wireless is estimated to be the most opportunistic segment. The wireless broadband offers more convenience, enhanced user experience, and higher speed to the customers. The wireless broadband uses radio waves that eliminate the inconveniences associated with the cable and the fiber optics connections.
- Based on the end user, the business segment accounted for around 45% of the market share and dominated the market in 2020. This is simply attributable to the increased demand for the internet connectivity among the business entities across the globe. Moreover, the rising adoption of the latest digital technologies like AI, IoT, and data analytics requires high speed and uninterrupted internet connection that is expected to boost the demand for the broadband services among the business organizations across the globe.
Broadband Services Market Dynamics
Driver
Rising penetration of internet and digital platforms
According to the International Telecommunication Union (ITU), the number of internet users reached at 4 billion by the end of 2019. Most of the internet users had access to the internet through smartphones. The rising adoption of smartphones, tablets, smart TVs, and other such smart devices along with the availability of cheap data is expected to drive the growth of the global broadband services market during the forecast period.
Restraint
Lack of knowledge and higher illiteracy rates
Most of the users in the developing and the underdeveloped regions are illiterate and lacks the knowledge of operating a smart devices like smartphones. Their lack of education and lower access to the smart devices is a major constraining factor that may hinder the growth of the broadband services market during the forecast period.
Opportunity
Introduction of 5G
The introduction of 5G is estimated to present huge growth opportunities to the market players. The improved speed and enhanced customer experience are the most important features that the customers and the corporate users are expecting from the 5G technology and this will rapidly boost the demand for the 5G broadband services across the globe.
Read Also: Accountable Care Solutions Market Size To Reach US$ 45.6 Bn by 2030
Challenge
Inadequate infrastructure in the rural regions
The rural regions especially in the developing and the underdeveloped nations has low infrastructure that makes the adoption of the broadband services impossible for the customers. Moreover, the lack of electricity in majority of the rural areas is a major challenge for the market players that may restrict the growth.
Regional Snapshot
In 2020, Asia Pacific dominated the global broadband services market and accounted for a market share of around 27%. Asia Pacific is witnessing rapid industrialization and urbanization along with the rapid development of the IT and telecommunications infrastructure. The growing demand among the various large and small business entities to adopt the latest digital technologies are augmenting the demand for the high speed and uninterrupted broadband services.
Moreover, the availability of cheap data in the region is resulting in the increased adoption of smart devices and increased adoption of internet. The booming education industry in Asia Pacific has witnessed a rapid surge in the demand for the online education and online entertainment, which has exponentially boosted the growth of the broadband services market in the past couple of years. For these reasons, Asia Pacific is also expected to be the fastest-growing region.
Europe was the second-most prominent market in 2020. The higher adoption of the latest technologies across the BFSI, retail, and healthcare sector has propelled the demand for the broadband services in Europe. Moreover, the increased adoption of the automation and digital technologies in the manufacturing sector has fueled the demand for the broadband services in the past years.
Why should you invest in this report?
If you are aiming to enter the global broadband services market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for broadband services are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2022-2030 so that you can plan your strategies to enter this market accordingly.
Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.
TABLE OF CONTENT
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Broadband Services Market
5.1. COVID-19 Landscape: Broadband Services Industry Impact
5.2. COVID 19 – Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Broadband Services Market, By Connection
8.1. Broadband Services Market, by Connection Type, 2021-2030
8.1.1. Fiber Optic
8.1.1.1. Market Revenue and Forecast (2019-2030)
8.1.2. Cable
8.1.2.1. Market Revenue and Forecast (2019-2030)
8.1.3. Satellite
8.1.3.1. Market Revenue and Forecast (2019-2030)
8.1.4. Wireless
8.1.4.1. Market Revenue and Forecast (2019-2030)
8.1.5. Digital Subscriber Line
8.1.5.1. Market Revenue and Forecast (2019-2030)
Chapter 9. Global Broadband Services Market, By End User
9.1. Broadband Services Market, by End User, 2021-2030
9.1.1. Business
9.1.1.1. Market Revenue and Forecast (2019-2030)
9.1.2. Household
9.1.2.1. Market Revenue and Forecast (2019-2030)
9.1.3. Others
9.1.3.1. Market Revenue and Forecast (2019-2030)
Chapter 10. Global Broadband Services Market, Regional Estimates and Trend Forecast
10.1. North America
10.1.1. Market Revenue and Forecast, by Connection (2019-2030)
10.1.2. Market Revenue and Forecast, by End User (2019-2030)
10.1.3. U.S.
10.1.3.1. Market Revenue and Forecast, by Connection (2019-2030)
10.1.3.2. Market Revenue and Forecast, by End User (2019-2030)
10.1.4. Rest of North America
10.1.4.1. Market Revenue and Forecast, by Connection (2019-2030)
10.1.4.2. Market Revenue and Forecast, by End User (2019-2030)
10.2. Europe
10.2.1. Market Revenue and Forecast, by Connection (2019-2030)
10.2.2. Market Revenue and Forecast, by End User (2019-2030)
10.2.3. UK
10.2.3.1. Market Revenue and Forecast, by Connection (2019-2030)
10.2.3.2. Market Revenue and Forecast, by End User (2019-2030)
10.2.4. Germany
10.2.4.1. Market Revenue and Forecast, by Connection (2019-2030)
10.2.4.2. Market Revenue and Forecast, by End User (2019-2030)
10.2.5. France
10.2.5.1. Market Revenue and Forecast, by Connection (2019-2030)
10.2.5.2. Market Revenue and Forecast, by End User (2019-2030)
10.2.6. Rest of Europe
10.2.6.1. Market Revenue and Forecast, by Connection (2019-2030)
10.2.6.2. Market Revenue and Forecast, by End User (2019-2030)
10.3. APAC
10.3.1. Market Revenue and Forecast, by Connection (2019-2030)
10.3.2. Market Revenue and Forecast, by End User (2019-2030)
10.3.3. India
10.3.3.1. Market Revenue and Forecast, by Connection (2019-2030)
10.3.3.2. Market Revenue and Forecast, by End User (2019-2030)
10.3.4. China
10.3.4.1. Market Revenue and Forecast, by Connection (2019-2030)
10.3.4.2. Market Revenue and Forecast, by End User (2019-2030)
10.3.5. Japan
10.3.5.1. Market Revenue and Forecast, by Connection (2019-2030)
10.3.5.2. Market Revenue and Forecast, by End User (2019-2030)
10.3.6. Rest of APAC
10.3.6.1. Market Revenue and Forecast, by Connection (2019-2030)
10.3.6.2. Market Revenue and Forecast, by End User (2019-2030)
10.4. MEA
10.4.1. Market Revenue and Forecast, by Connection (2019-2030)
10.4.2. Market Revenue and Forecast, by End User (2019-2030)
10.4.3. GCC
10.4.3.1. Market Revenue and Forecast, by Connection (2019-2030)
10.4.3.2. Market Revenue and Forecast, by End User (2019-2030)
10.4.4. North Africa
10.4.4.1. Market Revenue and Forecast, by Connection (2019-2030)
10.4.4.2. Market Revenue and Forecast, by End User (2019-2030)
10.4.5. South Africa
10.4.5.1. Market Revenue and Forecast, by Connection (2019-2030)
10.4.5.2. Market Revenue and Forecast, by End User (2019-2030)
10.4.6. Rest of MEA
10.4.6.1. Market Revenue and Forecast, by Connection (2019-2030)
10.4.6.2. Market Revenue and Forecast, by End User (2019-2030)
10.5. Latin America
10.5.1. Market Revenue and Forecast, by Connection (2019-2030)
10.5.2. Market Revenue and Forecast, by End User (2019-2030)
10.5.3. Brazil
10.5.3.1. Market Revenue and Forecast, by Connection (2019-2030)
10.5.3.2. Market Revenue and Forecast, by End User (2019-2030)
10.5.4. Rest of LATAM
10.5.4.1. Market Revenue and Forecast, by Connection (2019-2030)
10.5.4.2. Market Revenue and Forecast, by End User (2019-2030)
Chapter 11. Company Profiles
11.1. Comcast
11.1.1. Company Overview
11.1.2. Product Offerings
11.1.3. Financial Performance
11.1.4. Recent Initiatives
11.2. AT&T Intellectual Property
11.2.1. Company Overview
11.2.2. Product Offerings
11.2.3. Financial Performance
11.2.4. Recent Initiatives
11.3. Verizon Communications, Inc.
11.3.1. Company Overview
11.3.2. Product Offerings
11.3.3. Financial Performance
11.3.4. Recent Initiatives
11.4. Cox Communications, Inc.
11.4.1. Company Overview
11.4.2. Product Offerings
11.4.3. Financial Performance
11.4.4. Recent Initiatives
11.5. Charter Communications, Inc.
11.5.1. Company Overview
11.5.2. Product Offerings
11.5.3. Financial Performance
11.5.4. Recent Initiatives
11.6. Time Warner Cable, Inc.
11.6.1. Company Overview
11.6.2. Product Offerings
11.6.3. Financial Performance
11.6.4. Recent Initiatives
11.7. Rogers Communications, Inc.
11.7.1. Company Overview
11.7.2. Product Offerings
11.7.3. Financial Performance
11.7.4. Recent Initiatives
11.8. Qwest Communications International, Inc.
11.8.1. Company Overview
11.8.2. Product Offerings
11.8.3. Financial Performance
11.8.4. Recent Initiatives
11.9. Cablevision Systems Corp.
11.9.1. Company Overview
11.9.2. Product Offerings
11.9.3. Financial Performance
11.9.4. Recent Initiatives
Chapter 12. Research Methodology
12.1. Primary Research
12.2. Secondary Research
12.3. Assumptions
Chapter 13. Appendix
13.1. About Us
13.2. Glossary of Terms
Thanks for reading you can also get individual chapter-wise sections or region-wise report versions such as North America, Europe, or the Asia Pacific.
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