Broadband Internet Services Global Market Report 2024

The broadband internet services market size has grown steadily in recent years. It will grow from $412.44 billion in 2023 to $428.44 billion in 2024 at a compound annual growth rate (CAGR) of 3.9%. The growth observed in the historical period can be primarily attributed to factors such as digital transformation initiatives, increased internet adoption, notable technological advancements, efforts to connect rural and underserved areas, and the surge in streaming and content consumption.

The broadband internet services market size is expected to see steady growth in the next few years. It will grow to $500.57 billion in 2028 at a compound annual growth rate (CAGR) of 4.0%. The projected growth in the forecast period is expected to be driven by several key factors, including the widespread deployment of 5G networks, the expansion of fiber-optic infrastructure, the continued demand for remote work and online education, as well as heightened concerns related to network security and data privacy. Additionally, notable trends in this period are anticipated to encompass network upgrades, a heightened focus on data privacy and security, the provision of managed Wi-Fi services, the emergence of hybrid solutions, and the growing popularity of satellite internet services.

The broadband internet services market is experiencing growth due to increasing demand from consumers. This demand is driven by the widespread application of the internet in communication, information sharing, education, and the entertainment sector. Government initiatives also play a significant role in stimulating this demand by improving public online services, especially in rural and remote areas. The emphasis on establishing privacy and quality standards further promotes the growth of broadband services. For example, in February 2023, internet users in the UK increased by 224,000, reflecting the ongoing expansion of the consumer broadband market, with 66.11 million users in total. This increased demand is attributed to various factors, including voice search, smart home devices, gaming activities, online content consumption, and streaming TV services.

The primary categories of broadband Internet services include C band, Ku band, and Ka band. The C band specifically designates a portion of the electromagnetic spectrum allocated for satellite transmissions, encompassing frequencies that span from 4GHz to 8GHz. These broadband services find applications across various domains, including VoIP (voice over internet protocol), internet television, smart home applications, remote education, virtual private LAN service, interactive gaming, and business VPN services. These services are widely utilized by both residential and commercial end users.

The broadband internet services market research report is one of a series of new reports that provides broadband internet services market statistics, including broadband internet services industry global market size, regional shares, competitors with a broadband internet services market share, detailed broadband internet services market segments, market trends and opportunities, and any further data you may need to thrive in the broadband internet services industry. This broadband internet services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The broadband internet service market is expected to be further fueled by the emergence of social networking platforms. These platforms, which enable users to connect, share content, and engage with multimedia elements, are highly reliant on fast, reliable internet connections. The growth of social media has led to increased mobile connectivity, improved access in rural areas, and greater competition among internet service providers. This has prompted significant infrastructure investments and benefited various stakeholders, including businesses, advertisers, and users. For instance, as of September 2022, Facebook recorded an average of 1.98 billion daily active users, representing a 3% year-over-year increase. This trend underscores the significant impact of social networking platforms in driving the broadband internet service market forward.

Despite the positive trends, the broadband internet services market faces challenges, primarily related to the high costs associated with fiber optic cable infrastructure. While fiber optic technology offers reliability and symmetrical speed options unmatched by other internet services, its installation costs are considerably higher. Fiber optic lines require more complex installation processes, and accurately estimating the costs for every building presents difficulties. According to the Federal Communications Commission (FCC), minimum deployment costs for fiber optic should be at least $5,000 per user. The pricing of these services varies, but the high installation and maintenance costs are a notable challenge for broadband internet service providers, even though fiber optic connections offer superior performance and symmetrical speeds.

Companies within the broadband internet service industry are prioritizing the advancement of digital infrastructure and services to cater to their customer base. Digital infrastructure is a key focus, primarily geared towards supporting digital economic activities and technological applications, ultimately contributing to a nation's digital development. According to a report from the Asian Infrastructure Investment Bank (AIIB), digital infrastructure plays a pivotal role in expanding internet connectivity and facilitating the establishment of data centers to deliver digital services. In emerging markets like India and Pakistan, the emphasis lies more on mobile broadband infrastructure than fixed broadband internet services, while developing and developed countries are concentrating on achieving universal mobile broadband coverage and superfast fixed broadband infrastructure. The growing demand for broadband internet services is propelling the market towards doubling broadband speeds and expanding internet accessibility, with both companies and governments actively promoting advancements in digital infrastructure and services.

Leading players in the broadband internet service market are actively engaged in the development of wireless broadband services to maintain their competitive edge in the industry. Wireless broadband service entails the provision of high-speed internet connections through wireless communication technologies, including cellular networks, Wi-Fi, and satellite connections, eliminating the necessity for physical cables or wired infrastructure. An illustrative example is AT&T Inc., a US-based telecommunications company, which, in August 2023, introduced AT&T Internet Air, a novel fixed wireless home internet service. This innovation leverages AT&T's wireless network to extend internet connectivity to homes in specific areas. The fixed wireless technology operates by broadcasting signals from a cellular provider in all directions, with a Wi-Fi gateway in homes receiving and converting these signals into a functional internet connection. This service presents a viable alternative to traditional home internet services, particularly in areas where AT&T Fiber is not accessible.

In March 2022, Astound Broadband, a telecommunications company based in the United States, acquired FastMesh Internet, with the exact purchase amount remaining undisclosed. This acquisition of FastMesh Internet by Astound Broadband has paved the way for the expansion of wireless internet services into multiple dwelling units (MDUs) and an augmented market presence. The move is designed to enhance convenience for MDU residents and property owners across the regions served by Astound Broadband. FastMesh Internet, a US-based telecommunications company, specializes in offering wireless residential Wi-Fi services to apartment buildings and housing communities. This strategic acquisition aligns with Astound Broadband's goal of extending their wireless internet offerings and expanding their market footprint.

Major companies operating in the broadband internet services market include SES Astra Ltd., Inmarsat Co., Iridium Communications, ViaSat India Pvt. Ltd., EchoStar Corp., EarthLink Holding Corp., Intelsat General Corp., Eutelsat Corp., Idirect, Singtel Ltd., KVH Industries Co., Speedcast International Ltd., Gilat Satellite Networks, Avonline Satellite Solutions Ltd., Skycasters LLc, HISPASAT Group, China Telecom Corp. Ltd., China Unicom Ltd., Comcast Corp., NTT Co., AT&T, Deutsche Telekom Co., Time Warner Cable Communications, Verizon Communications, Orange SA, Korea Telecom, Cambium Networks Corporation, Intracom Telecom Holdings SA, RADWIN, Redline Communications, Proxim Wireless, Charter Communications Inc., Altice USA Inc., Lumen Technologies Inc., Frontier Communications Parent Inc., Mediacom Communications Corporation, Astound Broadband

The Asia-Pacific was the largest region in the broadband internet services market in 2023. Asia-Pacific is expected to be the fastest-growing region in the broadband internet services industry during the forecast period. The regions covered in the broadband internet services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the broadband internet services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada

The broadband internet services market includes revenues earned by entities by providing broadband internet services which can be used for voice over internet protocol (VoIP), internet TV, smart home applications, remote online education, virtual private LAN service, interactive gaming, etc. Broadband internet services can be accessed through wireless, fiber cable, satellite, etc. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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