The Business Research Company recently released a comprehensive report on the Global Signal Booster Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.
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According to The Business Research Company’s, The signal booster market size has grown rapidly in recent years. It will grow from $14.75 billion in 2023 to $16.89 billion in 2024 at a compound annual growth rate (CAGR) of 14.75%. The growth in the historic period can be attributed to the advent and expansion of 5G networks, advances in electronic components, the widespread adoption of smartphones and other mobile devices, the growing number of IoT devices relying on cellular connectivity, and geographic and demographic factors.
The signal booster market size is expected to see rapid growth in the next few years. It will grow to $29.16 billion in 2028 at a compound annual growth rate (CAGR) of 14.6%. The growth in the forecast period can be attributed to advances in antenna technology, the growth of smart cities, increasing urbanization, government and private sector initiatives to improve connectivity, favorable regulatory frameworks and government policies, and increasing awareness among consumers and businesses. Major trends in the forecast period include multi-functional devices, customizable and modular designs, enhanced indoor coverage solutions, advancements in manufacturing and economies of scale, and environmentally friendly and energy-efficient products.
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Market Drivers and Trends:
The increasing adoption of smartphones is expected to propel the growth of the signal booster market going forward. A smartphone is a mobile device that combines the functionalities of a traditional mobile phone with those of a handheld computer. There is an increasing demand for smartphones due to several factors, such as internet accessibility, affordability, enhanced connectivity, lifestyle integration, social media, and communication. Smartphones utilize signal boosters by connecting to them wirelessly to amplify cellular signals, improving reception and call quality, especially in areas with weak network coverage. For instance, in April 2022, according to the Department of Telecommunications under the Ministry of Information and Communications, a Vietnam-based regulatory agency, Vietnam recorded 91.3 million smartphone subscribers in 2021. This figure increased by over 2 million at the end of March 2022, resulting in a total of 93.5 million subscribers, equivalent to 73.5% of the nation’s adult population. Therefore, the increasing adoption of smartphones is driving the growth of the signal booster market.
Major companies operating in the signal booster market are focused on developing advanced solutions, such as 5G C-band signal boosters, to cater to the growing demand for enhanced 5G connectivity and improved network performance. 5G C-band signal boosters refer to devices designed to amplify and enhance the C-band frequency spectrum used for 5G wireless communication, facilitating faster data speeds and expanded coverage. For instance, in May 2024, SureCall, a US-based signal booster manufacturing company, launched SpeedLink, the first C-band booster approved by Verizon, a US-based telecommunications company, for use on their 5G Ultra-Wideband (UWB) network. This booster is designed to bridge coverage gaps and amplify network capacity inside large buildings, delivering ultra-fast data speeds of up to 1 Gbps without the need for fiber backhaul.
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Major Key Players of the Market:
Corning Incorporated, Amphenol Corporation, CommScope Holding Company Inc., Sunwave Communications Co. Ltd., Kathrein Inc., Comba Telecom Systems Holdings Ltd, TESSCO Technologies, PCTEL Inc., Wilson Electronics Inc., Nextivity Inc., Bird Technologies Private Limited, zBoost LLC, HiBoost, Dali Wireless Inc., SmoothTalker Inc., JDTECK Inc., Stella Doradus Ltd., Boomsense Technology Co. Ltd., SolidRF Inc., Shenzhen Huaptec Co. Ltd.
Signal Booster Market 2024 Key Insights:
• The signal booster market size is expected to see rapid growth in the next few years. It will grow to $29.16 billion in 2028 at a compound annual growth rate (CAGR) of 14.6%.
• Smartphones Propel Growth Of The Signal Booster Market
• Technological Advancements Transforming The Signal Booster Market
• North America was the largest region in the signal booster market in 2023
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