Broadband Service Market Size Worth $875.06 Billion By 2030

Broadband Service Market Growth & Trends

The global broadband service market size is estimated to reach USD 875.06 billion by 2030, according to the new report by Grand View Research, Inc. The rapidly escalating demand for broadband services due to their ability to offer higher date access to the internet using a wide spectrum of technologies is a major propeller of market growth of the market.

The market is positioned to register strong growth over the forecast period, driven primarily by the steep demand in the market. The high demand is supported by proactive government initiatives, technological advancements for improved user convenience, consumer awareness, and increased usage of devices-such as mobile phones, tablets, MIDs, and eBooks-requiring a broadband connection. The internet speed and widespread availability of broadband services are notable growth-contributors.

Some of the key market trends in the market include the following: strategic usage of broadband pre-registration indices to collect market data regarding price, engineering decisions, and user preferences; online registration of broadband services makes the process transparent and user-friendly; electronic signature in registration documents and validation of identity proofs aids in maintaining an automatic contract status and limits malpractice; system integration is increasingly emphasized to offer a one-stop-shop service for all marketing, mails, management, installation, and customer support needs; and finally, B2C models are increasingly focused on impacting crowd mentality to attract a larger customer base.

The COVID-19 pandemic has rendered a positive impact on the broadband services as digital consumption has witnessed a sharp rise over the last few weeks. Work-from-home concepts in most business, online classes in education formats, higher usage of video calls for conferences and personal uses, online shopping of essential items, and higher viewership of entertainment content have notably increased the requirement for broadband services. Investment in companies to adopt digital channels for product promotion and sales is also likely to surge in the near future. Besides speed, add-on services are a key attraction for customers, thereby leveling up the competitive rivalry in the market.

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Broadband Service Market Report Highlights

• Asia Pacific regional market accounted for the largest market share in 2022, owing to the widescale usage of broadband services

• The fiber optics segment dominated the market due to its speedy connection, large-scale adoption, and continuously evolving technology

• Wireless broadband services are positioned to demonstrate double-digit growth momentum over the forecast period

• Increased adoption of broadband services during COVID-19 has prominently augmented market growth and fueled the digital revolution in business models

Broadband Service 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

  • U.S.

  • Canada

  • Mexico

• Europe

  • U.K.

  • Germany

  • France

• Asia Pacific

  • China

  • Japan

  • India

  • South Korea

• South America

  • Brazil

• Middle East & Africa

List of Key Players of Broadband Service Market

• Comcast

• Time Warner Cable, Inc.

• Cox Communications, Inc.

• Singtel

• AT&T

• Verizon Communications, Inc.

• Qwest Communications International, Inc.

• Embarq

• Bell Canada Enterprises, Inc.

• Sprint Nextel