Broadband Services Industry Overview
The global broadband services market size was valued at USD 385.5 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 9.6% from 2022 to 2030.
Digital transformation of several industry verticals requires broadband services, thereby promoting market growth. For instance, increasing online commerce for retail goods services, digitalization of hospital records, e-government initiatives, and rapidly rising platforms for media and entertainment content are notably augmenting the market growth. Wireless technology holds immense potential in accelerating the global digital revolution across verticals through productivity enhancements and economic reductions.
Gather more insights about the market drivers, restrains and growth of the Global Broadband Services Market
According to the Organization for Economic Co-operation and Development (OECD), surge in the number of wireless subscribers has been a major growth driver for the market. Besides digital transformation in businesses, increased adoption of online learning has not only augmented the need for digital education, but also reflects a strong requirement for uninterrupted broadband connectivity. The market continues to expand at a steady pace, driven by increasing application of broadband in global communication. With the rising trend of global digitalization, governments, business, and individuals are increasingly depending on high-speed seamless internet connections for purposes of information, education, interaction, and entertainment.
Continuously evolving research and development of broadband service to make it more industry-compliant and application-oriented is anticipated to drive the market over the forecast period. The COVID-19 pandemic has affected businesses all over the world by disrupting supply chains, thereby straining the global economy. The current situation-wherein industries are temporarily shut down and people are confined to their homes-has reflected the need for digitalization to stay connected, run businesses, and retain a certain degree of normalcy. Education and fitness business models have rapidly shifted towards online coaching.
Similarly, most offices have adopted a work-from-home strategy. The aforementioned factors, coupled with a sharp surge in internet usage for entertainment factors, have fueled up the growth rate for broadband services over the last few months. Furthermore, most businesses are likely to transform their strategies towards digital channels, thereby augmenting the market.
Browse through Grand View Research's Communication Services Industry Research Reports.
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- 5G Services Market - The global 5G services market size was valued at USD 48.25 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 56.7% from 2022 to 2030. 5G wireless mobile services enable a fully mobile and connected environment by delivering a wide range of use cases and business models to consumers.
Broadband Services Market Segmentation
Grand View Research has segmented the global broadband services market based on broadband connection, end user, and region:
Broadband Service Broadband Connection Outlook (Revenue, USD Billion, 2017 - 2030)
- Fiber Optic
- Wireless
- Satellite
- Cable
- Digital Subscriber Line (DSL)
Broadband Service End-user Outlook (Revenue, USD Billion, 2017 - 2030)
- Business
- Household
- Others
Broadband Service Regional Outlook (Revenue, USD Billion, 2017 - 2030)
- North America
- Europe
- Asia Pacific
- South America
- Middle East Africa
Market Share Insights
- May 2020: Sky and NBCUniversal launched a business offering that enables customers to purchase Sky's global international news through NBCUniversal's One Platform. The Comcast-NBCUniversal-Sky deal allows marketers to leverage unrivaled content and scale.
Key Companies profiled:
Some prominent players in the global broadband services market include
- Comcast
- Time Warner Cable, Inc.
- Cox Communications, Inc.
- Singtel
- ATT
- Verizon Communications, Inc.
- Qwest Communications International, Inc.
- Embarq
- Bell Canada Enterprises, Inc.
- Sprint Nextel
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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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