Home Radio waves Broadband Services Market Size Will Reach US$748.6 Billion By

Broadband Services Market Size Will Reach US$748.6 Billion By


London, 08 Feb. 2022 (GLOBE NEWSWIRE) — The world broadband services market Cut was reached at US$352.6 billion in 2020. The internet has seen huge and rapid traction across the globe. The growing importance of digital technologies is forcing various industry players and customers to turn to digital platforms. The increasing adoption of latest digital technologies in various verticals such as education, retail, healthcare and banking has significantly boosted the growth of global broadband services over the past decades.

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Growing demand for the implementation and deployment of various technologies such as cloud computing, AI, IoT and social media is expected to drive the demand for broadband services across the globe. Additionally, increasing adoption of online education, work from home, e-commerce, and social media platforms among consumers and vendors is fueling the growth of the broadband market. Additionally, growing government investments in developing sophisticated telecommunications and IT infrastructure is supporting the growth of the broadband market worldwide.

Scope of Broadband Services Market Report

Report attributes Details
Market size by 2030 US$748.6 billion
Growth rate from 2021 to 2030 7.8%
Biggest earner Asia Pacific
Fastest growing region North America
Per connection
  • Optical fiber
  • Cable
  • Satellite
  • Wireless
  • Digital subscriber line
Per end user

Report Highlights

  • Based on connection, wireless is estimated to be the most opportunistic segment. Wireless broadband provides more convenience, improved user experience and higher speed to customers. Wireless broadband uses radio waves that eliminate the hassle of cable and fiber optic connections.
  • On the basis of 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 internet connectivity among business entities across the globe. Moreover, increasing adoption of latest digital technologies such as AI, IoT and data analytics requires high-speed and uninterrupted internet connection which is expected to drive the demand for broadband services among business organizations in the world. whole world.

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Regional overview

In 2020, Asia-Pacific dominated the global broadband services market and accounted for a market share of approximately 27%. Asia-Pacific is experiencing rapid industrialization and urbanization as well as rapid development of IT and telecommunications infrastructure. Growing demand among various large and small businesses to adopt latest digital technologies is increasing the demand for uninterrupted high speed and broadband services. Moreover, the availability of cheap data in the region is leading to increased adoption of smart devices and increased adoption of internet. The booming education sector in Asia-Pacific has witnessed a rapid rise in demand for online education and entertainment, which has exponentially boosted the growth of the broadband market over the past two last years. For these reasons, Asia-Pacific is also expected to be the fastest growing region.

Europe was the second largest market in 2020. Increased adoption of latest technologies in BFSI, retail and healthcare sectors propelled the demand for broadband services in Europe. Additionally, the increased adoption of automation and digital technologies in the manufacturing sector has fueled the demand for broadband services in recent years.

Market dynamics


Growing penetration of the Internet and digital platforms

According to the International Telecommunication Union (ITU), the number of internet users reached 4 billion at the end of 2019. Most internet users accessed the internet through smartphones. Growing 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 market over the forecast period.


Lack of knowledge and higher illiteracy rates

Most users in developing and underdeveloped regions are illiterate and lack the knowledge to use smart devices such as smartphones. Their lack of education and poor access to smart devices is a major restraining factor that is likely to hamper the growth of the broadband market during the forecast period.


Introducing 5G

The introduction of 5G is estimated to present huge growth opportunities for market players. Improved speed and enhanced customer experience are the most important features that customers and enterprise users expect from 5G technology, which will rapidly drive the demand for 5G broadband services across the world.

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Inadequate infrastructure in rural areas

Rural areas, especially in developing and underdeveloped countries, have weak infrastructure that makes adoption of broadband services impossible for customers. Moreover, the lack of electricity in the majority of rural areas is a major challenge for market players that can limit growth.

Some of the major players in the global broadband market include:

  • Comcast
  • Cox Communications, Inc.
  • AT&T Intellectual Property
  • Verizon Communications, Inc.
  • Time Warner Cable, Inc.
  • Rogers Communications, Inc.
  • Charter Communications, Inc.
  • Qwest Communications International, Inc.
  • Cablevision Systems Corp.

By geography

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

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