DUBLIN--(BUSINESS WIRE)--The "MulteFire Market by Device (Small Cells, Switches, Controllers), Application (Industrial Manufacturing, Commercial, Transportation, Public Venues, Healthcare, Oil & Gas and Mining, Power Generation, Hospitality), and Geography - Global forecast 2025" report has been added to ResearchAndMarkets.com's offering.
The MulteFire market is projected to grow from USD 455 million in 2020 to reach USD 2,119 million by 2025.
The growth of the MulteFire market can be attributed to the rising need for more scalable and better network connectivity for industrial IoT (IIoT) applications. However, the delay in making decisions related to the utilization of the shared spectrum is the major restraint for the growth of the MulteFire market. Deployment of a 5G network is likely to create lucrative opportunities for the MulteFire market, whereas the development of the ecosystem of MulteFire-compatible devices is quite challenging for the MulteFire market players.
Based on devices, MulteFire market for small cells to grow at the highest CAGR during the forecast period
Small cells are expected to witness the highest CAGR in the MulteFire market during the forecast period. MulteFire technology enables the deployment of a single small cell network capable of supporting subscribers from all mobile network operators (MNOs) and roaming users. The single network allows the most cost-efficient deployment, whether by a building owner, one or more MNOs, or a neutral host operator. Many companies, including Nokia, Baicells Technologies, Ericsson, and Ruckus Networks, have taken initiatives to develop small cells that support networks in shared or unlicensed spectrums. All these factors are boosting the growth of the small cell market.
Industrial application is to lead MulteFire market by 2020
The industrial application expected to hold the largest share of the MulteFire market. Industrial infrastructure comprises various automated systems, including robotics, automated guided vehicles (AGVs), drones, augmented reality and virtual reality (AR/VR) technology-based devices that are working in accordance with each other to develop a product or move it from one location to another. Therefore, high-speed and low latency data transfer has become a critical requirement.
Highly automated enterprises and industries having highly distributed assets need to monitor and control data in real time. Using technologically advanced devices, the processes are not deviating from normal operating conditions and could perform optimally as network shutdown, even for a few minutes, may cause huge losses. Advanced technologies, such as Industry 4.0 and IIoT, require a secure, reliable, and high-performance network. Hence, industrial applications need the spectrum that fulfills the abovementioned demands, which influences the growth of the MulteFire market for industrial applications.
The MulteFire market in North America to grow at the highest CAGR during the forecast period
North America is expected to be the fastest-growing region in the MulteFire market. North America is one of the early adopters of advanced telecommunication technologies, and the growing requirement for stable and reliable networks in an industrial environment creates opportunities for MulteFire networks in the region.
Similarly, the North American market growth is also fueled by the presence of several key players, such as Qualcomm, Redline Communications, Casa Systems, and SpiderCloud Wireless. Hence, these factors are likely to result in the highest CAGR of North America in the MulteFire market during the forecast period.
- Rising Need for More Scalable and Better Network Connectivity for Industrial IoT (IIoT) Applications
- Increasing Demand for High-Performance and Easy-to-Deploy Wireless Connectivity Networks
- Growing Requirement for Cost-Efficient and High-Capacity Networks
- Delay in Making Decisions Related to Utilization of Shared Spectrum
- Deployment of 5G Network
- Initiatives of MulteFire Alliance to Promote Use of MulteFire
- Development of Ecosystem of MulteFire-Compatible Devices
- Samsung Electronics
- Baicells Technologies
- Casa Systems
- Redline Communications
- Ruckus Networks
- SpiderCloud Wireless (A Corning Company)
Other Key Players
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