The WTTx market size is projected to grow from USD 4.9 billion in 2022 to USD 33.0 billion by 2027, at a CAGR of 46.4% during the forecast period. Government initiatives to establish smart cities and WTTx-5G deployment coverage in untapped rural and urban regions are driving the WTTx market growth.
Various globally established players such as Huawei (China), Nokia (Finland), Ericsson (Sweden), Qualcomm (US), and Samsung (South Korea) are dominating the WTTx market. These players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches and product enhancements, and acquisitions, to expand their footprint in the WTTx market.
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Huawei held the majority of the WTTx market share in 2022. It is one of the world's largest telecommunication equipment manufacturers and Information and Communications Technology (ICT) service and solution providers. In November 2019, Huawei launched WTTx Suite 2.0, a 5G-oriented AI-based solution for remote locations, and offers WTTx service and support service management. The suite can update the service, providing a map online within 30 minutes. In February 2019, Huawei added 5G CPE Pro to its portfolio. HUAWEI 5G CPE Pro provides ultra-fast broadband connections with a 5G SIM card and plug-and-play solution.
Another important player in the WTTx market is Nokia (Finland Nokia operates through two major business segments: Nokia Networks and Nokia Technologies). In May 2022, Nokia added new 5G wearable and video camera to improve video surveillance in its existing private wireless solution. These new wearable devices and digital twinning will enable manufacturers, public safety agencies, mine owners, and other enterprises to connect with their employees, workers, and machines securely. In July 2022, Nokia announced a five-year agreement with Ice to provide high-capacity equipment, such as 5G Massive MIMO, to support all types of spectrum bands. The company will modernize approximately 3,200 base stations in this agreement and deploy 3,900 new base stations.
WTTx Market by Component (Hardware, Platforms and Solutions, and Services), Operating Frequency (1.8 GHz-SUB 6GHZ, 6 GHZ-24 GHZ, above 24 GHZ), Organization Size (Large Enterprises and SMEs) and Region - Global Forecast to 2027
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