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 initiative of MulteFire alliance are expected to create significant growth opportunities for players in the MulteFire market during the forecast period.
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. MulteFire small cells work in the unlicensed spectrum. Small cells are available relatively at a low cost and are easy-to-deploy low-power radio access nodes. 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. 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.
The market for MulteFire for commercial application expected to grow at highest CAGR during forecast period
The commercial segment includes all commercial buildings and retail stores. Wireless traffic in buildings has grown at a very high rate in recent years. Working styles and workplace designs are rapidly changing, and properties that adapt to the growing needs and desires of occupants can drive more value for the organizations and people they serve. 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.
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.