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Impact of COVID-19 on the Wireless Internet Services Industry, 2020-2030

June 19, 2020 / PR Newswire
SHARESHARESHARE

The "Wireless Internet Services Global Market Report 2020-30: COVID-19 Implications and Growth" report has been added to ResearchAndMarkets.com's offering. The global wireless internet services market is expected to grow from $569.2 billion in 2019 to about $968.7 billion in 2020 as the spread of COVID-19 and the lockdown as a result of it has led to a sharp increase in the demand for wireless internet services. People are at home all day and involved in either work-from-home, connecting remotely with their peers, and increasingly using internet services for both work and entertainment. The market is expected to stabilize and reach $717.9 billion at a CAGR of 6% through 2023. North America was the largest region in the wireless internet services market in 2019. The government initiatives aiming at developing infrastructure is a key factor driving the growth of the wireless internet services market. With growing government initiatives and environmental campaigns taking center stage, technology providers and specialists have actively started simulating creative solutions based on technical modules for the design and growth of urban infrastructure in several regions. For instance, in India, successful execution of smart city projects is heavily dependent on technologies such as data connectivity, cloud, mobility and sensors, all shaping IoT together. According to official data from the Ministry of Housing and Urban Affairs, projects valued Rs 33,970 crore were tendered between January 2016 (when the first batch of 20 smart cities was selected through a competitive process) and January 2018, it increased by 270% in one year to Rs 1,26,000 by February 2019. In January 2018, the value of the grounded or completed projects stood at Rs 19,041 crore, this increased by 319% in 2019. Therefore, the government initiatives for smart city projects is expected to drive the growth of the wireless internet services market.