With 36.0% CAGR, MulteFire Market Growth to Surpass USD $2,119 million

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MulteFire Market is likely to grow from USD 455 million in 2020 to USD 2,119 million by 2025, at a CAGR of 36.0%. The growth of the market is mainly driven by escalating demand for high-performance and easy-to-deploy wireless connectivity networks, increasing need for more scalable and better network connectivity for industrial IoT (IIoT) applications, growing requirement for cost-saving and high-capacity networks. Deployment of 5G network, and inititive of MulteFire alliance are expected to create significant growth opportunities for players in the MulteFire market during the forecast period.

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Small cell devices to grow at highest CAGR for MulteFire market during forecast period
The highest growth rate of the MulteFire market for small cell devices is due to the rising demand for reliable and private networks based on unlicensed and shared frequencies would accelerate the deployment of small cells for enterprise applications. Small cells allow service providers to eliminate the requirement for the installation of expensive rooftop systems. Further, they also play a vital role in enhancing network performance. Thus, small cells address diverse network requirements across both outdoor and indoor applications. A few players providing small cells include Airspan, BaiCells, Ericsson, and Ruckus.

Industrial application to capture considerably large share of MulteFire market size in 2020

The industrial application expected to hold the largest MulteFire market size in 2020. As industrial infrastructure comprises various automated systems, including robotics, automated guided vehicles (AGVs), drones, augmented reality and virtual reality (AR/VR) technology-based devices, which 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 becomes a critical requirement. The growing importance of Industry 4.0 and rising need for secure, reliable, and high-performing connectivity network for IIoT are the key factors driving the demand for MulteFire market. LTE offers extremely secured and high-bandwidth connectivity with predictable latency, but due to its high cost and the requirement for the licensed spectrum, many enterprises are looking for cost-effective networks. Hence, industrial manufacturers focus on using cost-effective and reliable MulteFire technology-based LTE networks, which do not require the licensed spectrum or an anchor tenant.

North America to hold largest share of MulteFire market in 2020

North America region is expected to hold the largest share of the MulteFire market in 2020. North America would be one of the leading regions in terms of the adoption of MulteFire technology-based networks. The MulteFire market growth is likely to be propelled by the initiatives of the MulteFire Alliance to explore opportunities in making LTE technologies available in the unlicensed band for varied applications in several verticals, such as industrial manufacturing, mining, healthcare, and commercial. The region is home to several key companies who are the members of the MulteFire Alliance, such as Qualcomm, Intel, Wave Wireless, SpiderCloud Wireless, T-Mobile, and Verizon. Qualcomm was the first to introduce LTE in unlicensed spectrum (LTE-U). Increasing adoption of IoT devices, industry 4.0 solutions, and smart manufacturing solutions has created the need for a reliable and secure network for data communications; this factor is expected to provide opportunities for the MulteFire market.

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Key Market Players
The MulteFire market is dominated currently by Qualcomm (US), Nokia (Finland), Ericsson (Sweden), Huawei (China), Samsung (South Korea), Baicells Technologies (China), Casa Systems (US), Redline Communications (Canada), Ruckus Networks (US), SpiderCloud Wireless (US), Airspan (US), Athonet (Italy), ip.access (UK), Qucell (South Korea), and Quortus (UK) are a few of the major companies dominating the MulteFire market.
News also covered: https://www.prnewswire.com/news-releases/multefire-market-worth-2-119-million-by-2025—exclusive-report-by-marketsandmarkets-300871210.html