Broadband Services Market growth driver analysis 2022 - 2030.

The global broadband services market size was valued at USD 385.5 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 9.6% from 2022 to 2030. Digital transformation of several industry verticals requires broadband services, thereby promoting market growth. For instance, increasing online commerce for retail goods & services, digitalization of hospital records, e-government initiatives, and rapidly rising platforms for media and entertainment content are notably augmenting the market growth. Wireless technology holds immense potential in accelerating the global digital revolution across verticals through productivity enhancements and economic reductions.

According to the Organization for Economic Co-operation and Development (OECD), surge in the number of wireless subscribers has been a major growth driver for the market. Besides digital transformation in businesses, increased adoption of online learning has not only augmented the need for digital education, but also reflects a strong requirement for uninterrupted broadband connectivity.

Gather more insights about the market drivers, restrains and growth of the Global Broadband Services market

The market continues to expand at a steady pace, driven by increasing application of broadband in global communication. With the rising trend of global digitalization, governments, business, and individuals are increasingly depending on high-speed seamless internet connections for purposes of information, education, interaction, and entertainment.

Continuously evolving research and development of broadband service to make it more industry-compliant and application-oriented is anticipated to drive the market over the forecast period. The COVID-19 pandemic has affected businesses all over the world by disrupting supply chains, thereby straining the global economy. The current situation-wherein industries are temporarily shut down and people are confined to their homes-has reflected the need for digitalization to stay connected, run businesses, and retain a certain degree of normalcy. Education and fitness business models have rapidly shifted towards online coaching.

Similarly, most offices have adopted a work-from-home strategy. The aforementioned factors, coupled with a sharp surge in internet usage for entertainment factors, have fueled up the growth rate for broadband services over the last few months. Furthermore, most businesses are likely to transform their strategies towards digital channels, thereby augmenting the market.

Browse through Grand View Research's Communication Services Industry Research Reports.

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Broadband Services 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

o   U.S.

o   Canada

o   Mexico

• Europe

o   U.K.

o   Germany

o   France

• Asia Pacific

o   China

o   Japan

o   India

o   South Korea

• South America

o   Brazil

• Middle East & Africa

 Market Share Insights

May 2020 - Sky and NBCUniversal launched a business offering that enables customers to purchase Sky's global international news through NBCUniversal's One Platform. The Comcast-NBCUniversal-Sky deal allows marketers to leverage unrivaled content and scale. 

March 2022 - SINGTEL’S technology services arm NCS has acquired a digital services company in Australia, ARQ Group, for A$290 million (S$296.8 million), as part of its regionalisation plans, it said on Monday (Mar 28). ARQ is a Melbourne-based digital consultancy group specialising in mobile applications, cloud and data analytics. The acquisition will be NCS’s fourth in Australia in the past 15 months.

Key Companies profiled:

Some prominent players in the global Broadband Services market include

• 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

Order a free sample PDF of the Broadband Services Market Intelligence Study, published by Grand View Research.