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Multefire Market Worth $2,119 Million By 2025 With A Growing Cagr Of 36.0%
The report "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", The MulteFire market is projected to grow from USD 455 million in 2020 to USD 2,119 million by 2025, at a CAGR of 36.0%. 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 are the key factors propelling the growth of the MulteFire market.
Small cells to dominate MulteFire market in 2020
Small cells expected to account for the largest share of the overall MulteFire market, by devices, by 2020. Moreover, the market for small cells is expected to grow at the highest CAGR during the forecast period. Growing adoption of advanced technologies such as LTE or 5G, rising mobile data traffic on existing networks, and increasing demand for higher bandwidth spectrum are a few major factors spurring the demand for small cells in the MulteFire market. Another major factor contributing to the small cell market growth is an escalating demand for reliable networks based on unlicensed and shared spectrums by industrial, commercial, and healthcare sectors.
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Market for commercial application to grow at highest CAGR during forecast period
The commercial segment includes all commercial buildings and retail stores. Retail malls have a broad base of customers and often face the issue of limited data coverage. In commercial buildings, coverage is needed for all carriers. However, in commercial buildings, MulteFire-based small cell networks benefit operators by allowing them to perform multi-carrier operations. Increasing use of smart devices and growing percentage of internet penetration drive the growth of the MulteFire market for commercial applications.
Market in North America to grow at highest CAGR 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. Due to the optimum utilization of the licensed spectrum, mobile operators are focusing on using shared and unlicensed frequencies to fulfill the increasing demand for high-speed transmission of large volumes of data. Hence, several countries in North America, such as the US and Canada, would deploy MulteFire-based networks by 2020.
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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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