Connected devices to grow in-building wireless market to $35.5b by 2029

  • May 7, 2024
  • Michael Nadeau

Trends including IoT integration, 5G rollout, and smart-building technologies are expected to drive the in-building wireless market to $35.5 billion USD in 2029, up from an estimated $20 billion in 2024. A new report from MarketsandMarkets attributes the growth to a sharp increase in demand for reliable connectivity that facilitates remote and hybrid work. Security, energy conservation, and legal compliance are also factors. The report states that building management systems and edge computing will improve building efficiency and connectivity as well.

The report identifies some key advantages of in-building wireless that includes support for internet of things (IoT), 5G, and smart building applications. Tenant satisfaction, lower infrastructure needs, adaptability, scalability, and higher productivity are among the other advantages cited in the report.

Companies covered in the report include CommScope, Ericsson, Huawei, Nokia, Samsung, ZTE, Fujitsu, BTI Wireless, NEC, and Microlab. Regions covered are North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and Latin America.

APAC is expected to see the highest rate of growth according to the report. It cites surging economies in India, China, Japan, Australia, and New Zealand for APAC’s expected growth in adopting in-building wireless. Widespread proliferation of smartphones, IoT devices, and data-intensive applications that require robust indoor wireless infrastructure is another factor.

Commercial campuses represent the largest market share segment according to the report. The largest Commercial campuses include sprawling office complexes, business parks, retail stores, shopping malls, and mixed-use developments. Their end users rely on in-building wireless systems for uninterrupted connectivity across the campus environment. Dependable wireless infrastructure is necessary to support employees access to cloud-based platforms, video conferences, or mobile device use.