MulteFire Market Growing at the Fastest Rate in North America Region
Posted by edwardzmusso on October 29th, 2021
According to the new research report, the \"MulteFire Market by Device (Small Cells, Switches, Controllers), Application (Industrial Manufacturing, Commercial, Transportation, Public Venues, Healthcare, Oil & Gas and Mining, Power Generation, Hospitality), and Geography - Global forecast 2025\" is likely to grow from USD 455 million in 2020 to USD 2,119 million by 2025, at a CAGR of 36.0%. The growth of the market is mainly driven by escalating demand for high-performance and easy-to-deploy wireless connectivity networks, increasing need for more scalable and better network connectivity for industrial IoT (IIoT) applications, growing requirement for cost-saving and high-capacity networks. Deployment of 5G network, and inititive of MulteFire alliance are expected to create significant growth opportunities for players in the MulteFire market during the forecast period.
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Small cell devices to grow at highest CAGR for MulteFire market during forecast period
The highest growth rate of the MulteFire market for small cell devices is due to the rising demand for reliable and private networks based on unlicensed and shared frequencies would accelerate the deployment of small cells for enterprise applications. Small cells allow service providers to eliminate the requirement for the installation of expensive rooftop systems. Further, they also play a vital role in enhancing network performance. Thus, small cells address diverse network requirements across both outdoor and indoor applications. A few players providing small cells include Airspan, BaiCells, Ericsson, and Ruckus.
Industrial application to capture considerably large share of MulteFire market size in 2020
The industrial application expected to hold the largest MulteFire market size in 2020. As industrial infrastructure comprises various automated systems, including robotics, automated guided vehicles (AGVs), drones, augmented reality and virtual reality (AR/VR) technology-based devices, which are working in accordance with each other to develop a product or move it from one location to another. Therefore, high-speed and low-latency data transfer becomes a critical requirement. The growing importance of Industry 4.0 and rising need for secure, reliable, and high-performing connectivity network for IIoT are the key factors driving the demand for MulteFire market. LTE offers extremely secured and high-bandwidth connectivity with predictable latency, but due to its high cost and the requirement for the licensed spectrum, many enterprises are looking for cost-effective networks. Hence, industrial manufacturers focus on using cost-effective and reliable MulteFire technology-based LTE networks, which do not require the licensed spectrum or an anchor tenant.
Rising demand for MulteFire from various applications to boost the market growth in North America during forecast period
North America is expected to be the fastest-growing region in the MulteFire market. The region is transforming dynamically by adopting new technologies. Many companies are developing compatible products for MulteFire networks. Moreover, the MulteFire market growth is likely to be propelled by the initiatives of the MulteFire Alliance to explore opportunities in making LTE technologies available in the unlicensed band for varied applications in several verticals, such as industrial manufacturing, mining, healthcare, and commercial. Hence, several countries in North America, such as the US and Canada, would deploy MulteFire-based networks by 2020.
Key players in the market include
Qualcomm (US), Nokia (Finland), Ericsson (Sweden), Huawei (China), Samsung (South Korea), Baicells Technologies (China), Casa Systems (US), Redline Communications (Canada), Ruckus Networks (US), SpiderCloud Wireless (US), Airspan (US), Athonet (Italy), ip.access (UK), Qucell (South Korea), and Quortus (UK) are a few of the major companies dominating the MulteFire market.
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Joined: February 8th, 2021
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