Broadband Services Market Size, Share & Growth Report | 2031

Segments - Broadband Services Market by Broadband Connections (Cables, Digital Subscriber Lines (DSLs), Fiber Optics, Satellites, and Wireless), End-users (Household and Business), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Trends, Size, and Forecast 2023 – 2031

Author : Raksha Sharma

Fact-checked by : Vineet Pandey

Editor : Shruti Bhat

Report Description

The global broadband services market was valued at USD 419.4 billion in 2022 and is estimated to reach USD 964.91 billion by 2031, expanding at a CAGR of 9.7% during the forecast period, between 2023 - 2031. The growth of the market is attributed to the increasing deployment of broadband services by several industries for digital transformation.

Broadband is a large bandwidth data transmission of multiple signals. Broadband service supplier such as YOU broadband permits users to transfer heavy files and data that with the help of dial-up service.

The global digital revolution over various industry verticals has created a lucrative opportunity to the market. According to a report of the Organization for Economic Co-operation and Development (OECD), the major growth booster for the market is the increasing number of wireless subscribers across the globe. Moreover, the digital transformation in businesses and rising acceptance of online learning has not only increased the requirement of digital education but also has raised a strong need for an uninterrupted broadband connectivity.

Continuous research and development in the market is ensuring high-speed Internet to various industry and making it more application oriented. The COVID-19 pandemic has negatively impacted various businesses across all globe. It has disrupted the supply chains, which in turn, draining the economy globally. The outburst of COVID-19 has persuaded various industries to work from home. This has increased the requirement for digitalization to stay connected and run businesses.

Businesses such as education and fitness clubs are gradually shifting toward online coaching. These above mentioned factors along with the rising usage of Internet users for entertainment reasons, have resulted in the exponential growth of the broadband services market.

Market Trends, Drivers, Restraints, and Opportunities

Rapid growth of the e-commerce industry owing to online shopping is expected to fuel the market growth.
Rising shift toward digitalization of hospital records and government initiatives to digitize the daily activities is spurring the growth of the market.
Increasing number of online platforms for entertainment and media practices is significantly boosting the growth of market.
Majority of the business are anticipated to shift their strategies toward digital channels, which is expected to foster the market growth.
Lack of awareness and knowledge about the usage of broadband services may hinder the market growth during the analysis period.

Scope of Broadband Services Market Report

The report on the global broadband services market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been involved in this report.

Attributes	Details
Report Title	Broadband Services Market - Global Industry Analysis, Trends, Growth, Share, Size, and Forecast
Base Year	2022
Historic Data	2016–2021
Forecast Period	2023–2031
Segmentation	Broadband Connections (Cables, Digital Subscriber Lines (DSLs), Fiber Optics, Satellites, and Wireless) and End-users (Household and Business)
Regional Scope	Asia Pacific, Europe, North America, Latin America, and Middle East & Africa
Report Coverage	Company Share, Market Analysis and Size, Growth Factors, Competitive Landscape, and Trends, and Revenue Forecast
Key Players Covered in the Report	Verizon Communications, Inc., Time Warner Cable, Inc., Rogers Communications, Inc., Qwest Communications International, Inc., Cox Communications, Inc., Comcast, Charter Communications, Inc., Cablevision Systems Corp., and AT&T Intellectual Property

Global Broadband Services Market Segment Insights

Fiber optics segment anticipated to dominate the market

Based on broadband connections, the market is hey divided into cables, digital subscriber lines (DSLs), fiber optics, satellites, and wireless. The fiber optics segment is anticipated to dominate the market owing to the ability of fiber optics to carry high bandwidth signals. Fiber networks are also known as ‘futureproof’ due to their constant development in the fiber optics technology that enables in increase in the bandwidth according to business requirements.

The wireless segment is anticipated to expand at a high CAGR owing to the rising technological development and adoption of wireless services due to customer convenience. The wireless broadband connection services use radio waves or wireless fidelity (Wi-Fi) instead of cables as compared to the other broadband connections. An evolution of mobile wireless services from 3G to 4G and emerging of 5G technology has boosted the demand for wireless broadband services.

Business segment to account for a large market share

On the basis of end-users, the market is bifurcated into household and business. The business segment is expected to account for a large market share during the forecast period. Majority of the businesses need a fast and steady Internet connection to connect with employees and clients. The prime components of latest business models such as customer engagement, marketing and sales, and profit analysis reverberates with the demand for broadband services.

The implementation of broadband services has improved due to the digitalization among industry’s major players. Increasing requirement of a steady Internet connection due to the digitalization in schools, colleges, and universities for online learning has boosted the growth of the market segment.

On the other hand, the rising trend of work from home owing to the lockdown by governments of various countries on account of COVID-19 pandemic has been acting as a major factor contributing to the market growth across the globe. Conversely, the installation of Internet services in the household sector is increasing due to rising number of people using Internet for the entertainment and social media platforms.

The market in Asia Pacific to expand at a high CAGR

In terms of regions, the global broadband services market is categorized as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Europe is anticipated to dominate the market owing to the rapid technical developments and proactive government initiatives. A report of the European Commission (EC) says that, almost 96.8% of households in Europe have fixed broadband services. The European Commission is aiming to transform the overall region into a gigabit society by the year 2025.

The market in Asia Pacific is projected to expand at a high CAGR during the forecast years. Countries such as China and Japan are developing ultra-fast broadband, which in turn, is expected to increase the consumer pool and user rates during the coming years.

Moreover, the market players in this region are focusing to attract the middle- and low-income segments of customers and offer them an exclusive service at economic rates. Additionally, the rising disposable income as well as a high population in this region, are some of the main factors contributing to the growth of market.

Segments

The global broadband services market has been segmented based on

Broadband Connections

Cables
Digital Subscriber Lines (DSLs)
Fiber Optics
Satellites
Wireless

End-users

Household
Business

Regions

Asia Pacific
North America
Latin America
Europe
Middle East & Africa

Key Players

Verizon Communications, Inc.
Time Warner Cable, Inc.
Rogers Communications, Inc.
Qwest Communications International, Inc.
Cox Communications, Inc.
Comcast
Charter Communications, Inc.
Cablevision Systems Corp.
AT&T Intellectual Property

Competitive Landscape

Some major players competing in the global broadband services market include Verizon Communications, Inc., Time Warner Cable, Inc., Rogers Communications, Inc., Qwest Communications International, Inc., Cox Communications, Inc., Comcast, Charter Communications, Inc., Cablevision Systems Corp., and AT&T Intellectual Property.

Numerous service providers are concentrating on developing the technology to fulfill the growing demand for high-speed Internet requirements, and bandwidth applications.

In May 2020, the Sky and NBC Universal introduced a business offering, which allows users to buy Sky’s global international news through NBC Universal’s One Platform. The Comcast-NBC Universal-Sky deal enables marketers to influence the unmatched scale and content.

Broadband Services Market Key Players

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Broadband Services Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Broadband Services Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Broadband Services Market - Supply Chain
  4.5. Global Broadband Services Market Forecast
     4.5.1. Broadband Services Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Broadband Services Market Size (000â€™ Units) and Y-o-Y Growth
     4.5.3. Broadband Services Market Absolute $ Opportunity
5. Global Broadband Services Market Analysis and Forecast by End Users
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by End Users
     5.2.2. Y-o-Y Growth Projections by End Users
  5.3. Broadband Services Market Size and Volume Forecast by End Users
     5.3.1. Household
     5.3.2. Business
  5.4. Absolute $ Opportunity Assessment by End Users
  5.5. Market Attractiveness/Growth Potential Analysis by End Users
6. Global Broadband Services Market Analysis and Forecast by Region
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Region
     6.2.2. Y-o-Y Growth Projections by Region
  6.3. Broadband Services Market Size and Volume Forecast by Region
     6.3.1. North America
     6.3.2. Latin America
     6.3.3. Europe
     6.3.4. Asia Pacific
     6.3.5. Middle East and Africa (MEA)
  6.4. Absolute $ Opportunity Assessment by Region
  6.5. Market Attractiveness/Growth Potential Analysis by Region
  6.6. Global Broadband Services Demand Share Forecast, 2019-2026
7. North America Broadband Services Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
  7.2. North America Broadband Services Market Size and Volume Forecast by Country
     7.2.1. U.S.
     7.2.2. Canada
  7.3. Absolute $ Opportunity Assessment by Country
  7.4. North America Broadband Services Market Size and Volume Forecast by End Users
     7.4.1. Household
     7.4.2. Business
  7.5. Basis Point Share (BPS) Analysis by End Users
  7.6. Y-o-Y Growth Projections by End Users
  7.7. Market Attractiveness/Growth Potential Analysis
     7.7.1. By Country
     7.7.2. By Product Type
     7.7.3. By Application
  7.8. North America Broadband Services Demand Share Forecast, 2019-2026
8. Latin America Broadband Services Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Latin America Average Pricing Analysis
  8.2. Latin America Broadband Services Market Size and Volume Forecast by Country
      8.2.1. Brazil
      8.2.2. Mexico
      8.2.3. Rest of Latin America
   8.3. Absolute $ Opportunity Assessment by Country
  8.4. Latin America Broadband Services Market Size and Volume Forecast by End Users
     8.4.1. Household
     8.4.2. Business
  8.5. Basis Point Share (BPS) Analysis by End Users
  8.6. Y-o-Y Growth Projections by End Users
  8.7. Market Attractiveness/Growth Potential Analysis
     8.7.1. By Country
     8.7.2. By Product Type
     8.7.3. By Application
  8.8. Latin America Broadband Services Demand Share Forecast, 2019-2026
9. Europe Broadband Services Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Europe Average Pricing Analysis
  9.2. Europe Broadband Services Market Size and Volume Forecast by Country
     9.2.1. Germany
     9.2.2. France
     9.2.3. Italy
     9.2.4. U.K.
     9.2.5. Spain
     9.2.6. Russia
     9.2.7. Rest of Europe
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Europe Broadband Services Market Size and Volume Forecast by End Users
     9.4.1. Household
     9.4.2. Business
  9.5. Basis Point Share (BPS) Analysis by End Users
  9.6. Y-o-Y Growth Projections by End Users
  9.7. Market Attractiveness/Growth Potential Analysis
     9.7.1. By Country
     9.7.2. By Product Type
     9.7.3. By Application
  9.8. Europe Broadband Services Demand Share Forecast, 2019-2026
10. Asia Pacific Broadband Services Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Asia Pacific Average Pricing Analysis
  10.2. Asia Pacific Broadband Services Market Size and Volume Forecast by Country
     10.2.1. China
     10.2.2. Japan
     10.2.3. South Korea
     10.2.4. India
     10.2.5. Australia
     10.2.6. Rest of Asia Pacific (APAC)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Asia Pacific Broadband Services Market Size and Volume Forecast by End Users
     10.4.1. Household
     10.4.2. Business
  10.5. Basis Point Share (BPS) Analysis by End Users
  10.6. Y-o-Y Growth Projections by End Users
  10.7. Market Attractiveness/Growth Potential Analysis
     10.7.1. By Country
     10.7.2. By Product Type
     10.7.3. By Application
  10.8. Asia Pacific Broadband Services Demand Share Forecast, 2019-2026
11. Middle East & Africa Broadband Services Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Middle East & Africa Average Pricing Analysis
  11.2. Middle East & Africa Broadband Services Market Size and Volume Forecast by Country
     11.2.1. Saudi Arabia
     11.2.2. South Africa
     11.2.3. UAE
     11.2.4. Rest of Middle East & Africa (MEA)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Middle East & Africa Broadband Services Market Size and Volume Forecast by End Users
     11.4.1. Household
     11.4.2. Business
  11.5. Basis Point Share (BPS) Analysis by End Users
  11.6. Y-o-Y Growth Projections by End Users
  11.7. Market Attractiveness/Growth Potential Analysis
     11.7.1. By Country
     11.7.2. By Product Type
     11.7.3. By Application
  11.8. Middle East & Africa Broadband Services Demand Share Forecast, 2019-2026
12. Competition Landscape
  12.1. Global Broadband Services Market: Market Share Analysis
  12.2. Broadband Services Distributors and Customers
  12.3. Broadband Services Market: Competitive Dashboard
  12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     12.4.1. Verizon Communications, Inc.
     12.4.2. Time Warner Cable, Inc.
     12.4.3. Rogers Communications, Inc.
     12.4.4. Qwest Communications International, Inc.
     12.4.5. Cox Communications, Inc.
     12.4.6. Comcast
     12.4.7. Charter Communications, Inc.
     12.4.8. Cablevision Systems Corp.
     12.4.9. AT&T Intellectual Property