Remote Control And Rapid Growth In 5G FWA Disk Volume In Consumer Technology Market

From device-centric to experiential: smart home devices and smart glasses are becoming super-fast and “always-on”

LONDONJune 23, 2022 /PRNewswire/ — According to ABI Research, overall demand for consumer technologies grew significantly in 2021 and volume is expected to remain strong for the foreseeable future. This is despite uncertainties related to the pandemic, geopolitical issues, the ongoing war in Ukraineand supply chain issues. In addition, many countries are currently witnessing high inflation and a growing cost of living crisis, all of which will continue to negatively impact consumer spending well into 2023 and beyond.

ABI 2021 logo (PRNewsfoto/ABI Research)

ABI 2021 logo (PRNewsfoto/ABI Research)

According to the global technology intelligence company ABI research, Despite the aforementioned external economic factors, there are significant trends emerging in the consumer electronics market that prioritize user experience over device type. These key developments include remote access to smart-home connected devices, immersive smart glasses experiences and high-speed broadband connectivity through 5G Fixed Wireless Access (FWA), all of which are gaining momentum and driving the market growth of consumer technologies.

Vendors are increasingly offering smart home control via apps and services. For example, smart TVs will become a smart display in the home, with always connected capabilities and energy-efficient modes, allowing TVs to play a greater role in the world of virtual reality. In addition, the value of home security applications and platforms continues to drive sales, pushing demand for these devices beyond projected estimates.” Filomena Iovino, 5G Devices, Consumer Technologies Research Analyst at ABI Research. Overall, ABI Research predicts that the global smart home device market will reach 1.9 billion shipments by 2030, up from 751.3 million by 2021, with a compound annual growth rate (CAGR) of 9.4%. In addition, the turnover $51.3 billion in 2030, from US$26.5 million in 2021, with a CAGR of 16.5%.

The vision of immersive communication is to enable natural experiences and interactions at a distance. The demand for immersive content in many markets presents an important opportunity. For example, virtual reality (VR) applications have expanded beyond gaming in areas such as tourism, education, social VR, sports and fitness, and productivity/creativity apps. ABI Research predicts that the total number of VR head-mounted display (HMD) shipments will increase to approximately 15 million units by 2022. In addition, augmented reality (AR) has the potential to improve distance communication and mainstream smart glasses, despite representing a small market in the consumer space, will dramatically change how and when people communicate and collaborate. Smart glasses will improve connectivity, service performance. change drastically and computing needs,” says Iovino. Apple and Google are spending a lot of money in the field for their mobile device platforms, which will enable mobile VR and unique smart glasses solutions. After Facebook’s rebrand, Meta has invested billions of dollars in realizing its vision of the metaverse, with AR and VR as its hardware foundation. ABI Research expects AR glasses to reach 2.7 million shipments worldwide by 2027 at a CAGR of 67%.

The COVID-19 pandemic has had a huge impact on consumer habits, requiring more remote work, learning and entertainment, while online purchases have boomed, causing retailers to offer their offerings across many channels. This change in behavior has led to a faster development of broadband in areas where there are no fiber connections, and consequently the demand for better broadband connectivity has increased worldwide. Fixed Wireless Access (FWA) represents a cost-effective and scalable alternative to conventional fixed broadband connectivity, and the ongoing 5G network deployments are driving significant growth in the 5G FWA market. Essentially, 5G FWA will become a direct competitor to fixed broadband, providing cheap and convenient broadband installations in fixed locations in rural or scarce areas, but the 5G network needs to be rolled out to cover such areas, and this cannot be said yet. from many countries around the world. “Therefore, the 5G FWA market is likely to be concentrated in mature markets such as: North America and Western Europe in the forecast period. The 5G FWA market is expected to experience significant growth at a compound annual growth rate (CAGR) of 72% and close to 69 million subscriptions worldwide by 2026,” concludes Iovino.

These findings come from ABI Research’s Consumer Tech Market Data Report. This report is part of the company’s Consumer Technologies research service, which includes research, data and analyst insights. Market data spreadsheets are composed of in-depth data, market share analysis, and highly segmented, service-specific forecasts to provide detailed insight into where opportunities lie.

About ABI Research

ABI Research is a global technology intelligence company that provides actionable research and strategic guidance to technology leaders, innovators and decision-makers around the world. Our research focuses on the transformative technologies that are profoundly changing today’s industries, economies and workforce.

ABI Research provides cutting-edge research and strategic guidance to help clients understand rapidly changing technologies. Since 1990, we have partnered with hundreds of leading technology brands, leading companies, forward-thinking government agencies and innovative trade groups around the world. We help our customers to create real business results.

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