Broadband Services Market is Growing at Significant Rate, 2028: Grand View Research Inc.

 Broadband Services Market Growth & Trends

The global broadband services market size is estimated to reach USD 706.94 billion by 2028, according to the new report by Grand View Research, Inc. The market is expected to register a CAGR of 9.1% from 2021 to 2028. 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 growth propeller for 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 global market for broadband services 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 broadband services as digital consumption has witnessed a sharp rise over the last few weeks. Work-from-home concepts in most businesses, 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 Services Market Report Highlights

• The Asia Pacific regional market accounted for the largest market share in 2020, owing to the wide-scale usage of broadband services
• Fiber opticsdominated the broadband connection segment 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 fuelled the digital revolution in business models
• The prominent industry players operating in the market are Comcast; AT&T Intellectual Property; Verizon Communications, Inc.; and Cox Communications, Inc.

Access Press Release@ https://www.grandviewresearch.com/press-release/global-broadband-services-market

Broadband Services Market Segmentation

Grand View Research has segmented the global broadband services market based on broadband connection, end-user, and region:

Broadband Services Broadband Connection Outlook (Revenue, USD Billion, 2017 - 2028)

• Fiber Optic
• Wireless
• Satellite
• Cable
• Digital Subscriber Line (DSL)

Broadband Services End-user Outlook (Revenue, USD Billion, 2017 - 2028)

• Business
• Household
• Others

Broadband Services Regional Outlook (Revenue, USD Billion, 2017 - 2028)

• North America
  • US.
  • Canada
  • Mexico
• Europe
  • UK.
  • Germany
  • France
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
• South America
  • Brazil
• Middle East & Africa

List of Key Players of the Broadband Services Market

• Comcast
• AT&T
• Verizon Communications, Inc.
• Cox Communications, Inc.

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.