The Business Research Company’s Broadband Internet Services Global Market Analysis Report 2020-30: Covid 19 Implications And Growth
LONDON, GREATER LONDON, UK, June 25, 2020 /EINPresswire.com/ — The global broadband internet services market size is expected to grow from $263.4 billion in 2019 to about $355.6 billion in 2020. There has been significant growth in the demand for high-speed wireline broadband plans as employees started to work from home to contain the spread of Covid-19. Apart from work, the high-speed internet is also in demand for playing games and availing several streaming services while spending leisure time at home. The broadband internet services market growth is then expected to stabilize and reach $372.9 billion at a compound annual growth rate (CAGR) of 9.1% through 2023.
Increasing demand for consumer broadband is driving the global broadband internet services market. The rising application of internet in the communication, sharing information, education, and entertainment sectors is supporting the growth of consumer broadband. Also, governments are playing a major role in stimulating demand for broadband internet services by providing better public online services in every sector, encouraging rural and remote areas to use broadband internet services, establishing privacy and quality standards, etc. According to the DataReportal newsletter, the total active internet users at the end of January 2019 was 4.388 billion, whereas in January 2020 the total number of active internet users increased to 4.54 billion. The usage of voice search, voice commands, smart home devices, gaming-related activities, online content activities, streaming TV, etc. are responsible for an increase in the demand for consumer broadband services.
The broadband internet services market is segmented by type into C band, Ku band, and Ka band. It is also segmented by application into VoIP (voice over internet protocol), internet TV, smart home application, remote education, virtual private LAN service, interactive gaming, and VPN on broadband.
According to broadband internet services market trends, players in the broadband internet services industry are focusing on advancing digital infrastructure and services to serve its customers better. Digital infrastructure is more focused on digital economic activities and technological applications. Digital infrastructure helps for the digital development of a country. According to the Asian Infrastructure Investment Bank (AIIB) report, the digital infrastructure helps to expand internet connectivity and supports to establish the datacenters to provide digital services. Emerging markets such as India, Pakistan, etc. are more focused on mobile broadband infrastructure than fixed broadband internet services infrastructure, whereas developing and developed countries are concentrating on coverage of universal mobile broadband and superfast fixed broadband infrastructure. Demand in broadband internet services is driving the market to double broadband speed and expand internet connectivity, where companies and governments are trying to increase advances in digital infrastructure and services.
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Source: EIN Presswire