Broadband Services Market to Reach USD 1,016.9 Billion by 2032, Driven by Rapid Connectivity and Digital Transformation | SNS Insider

By GlobeNewswire On May 27, 2025

Broadband market growth driven by rising internet use, demand for faster connections, smart devices, digital transformation, and government support worldwide.

Pune, May 27, 2025 (GLOBE NEWSWIRE) — Broadband Services Market Size Analysis:

“The Broadband Services Market, valued at USD 445.3 billion in 2023, is anticipated to reach USD 1,016.9 billion by 2032, expanding at a CAGR of 9.63% between 2024 and 2032.”

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Major Players Analysis Listed in this Report are:

AT&T Inc. – AT&T Fiber
Verizon Communications Inc. – Verizon Fios
Comcast Corporation – Xfinity Internet
Charter Communications Inc. – Spectrum Internet
CenturyLink (Lumen Technologies) – CenturyLink Fiber Internet
T-Mobile US, Inc. – T-Mobile Home Internet
Cox Communications – Cox Gigablast
Frontier Communications – Frontier Fiber Internet
British Telecommunications (BT Group) – BT Broadband
Vodafone Group – Vodafone Broadband
Orange S.A. – Orange Livebox Fiber
Deutsche Telekom AG – Magenta Home
Telefónica S.A. – Movistar Broadband
Nippon Telegraph and Telephone Corporation (NTT) – NTT FLET’S Hikari
Rakuten Group, Inc. – Rakuten Hikari Internet

Broadband Services Market Report Scope:

Report Attributes	Details
Market Size in 2023	US$ 445.3 Billion
Market Size by 2032	US$ 1016.9 Billion
CAGR	CAGR of 9.63 % From 2024 to 2032
Base Year	2023
Forecast Period	2024-2032
Historical Data	2020-2022
Key Regional Coverage	North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe [Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]). Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America)
Key Growth Drivers	Increasing usage of streaming, remote work, and IoT is driving broadband adoption.

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This substantial growth is fueled by rising demand for high-speed and stable connectivity, and increasing adoption of smart devices is driving this significant growth. Apart from these, continuous digital transformation in several industries, along with the remote working trend and government efforts to enhance broadband infrastructure further drive the growth of the market. This combination of ingredients further catalyzed the global broadband service adoption.

The U.S. Broadband Services Market was valued at USD 62.6 billion in 2023 and is projected to grow to USD 152.7 billion by 2032, with a CAGR of 10.43% from 2024 to 2032.

This growth is due to high demand for the high-speed internet, fibre-optic network expansion, increasing number of connected devices, and government investments in broadband infrastructure to enable digital services and remote work.

By Broadband Connection, Fiber Optics Led the Broadband Market, Wireless Broadband Services Poised for Fastest Growth

Fiber optics dominated the broadband market in 2023, accounting for 38% of revenue share. This dominance because it provide quality network signal directly to business & home out of operator equipment. Fiber networks have a high level of futureproof characteristics, as they are able to support bandwidth upgrades as the technologies evolve, without the need for new infrastructure, and are ideally suited for growing business demands.

Wireless broadband is expected to register the highest CAGR during the forecast period due to rapid technological advancements and ease of use. Wireless broadband, unlike cable-based broadband, relies on radio waves or Wi-Fi for connections. The evolution from 3G to 4G and now emerging 5G technology raises the demand with high magnitude, as wireless services provide multipurpose connectivity through a technology which is utilized by broad range of sectors in the society.

By End-Use, Business End-Use Segment Led the Market, Household Segment Expected to Register Fastest Growth

In 2023, the business end-use segment dominated the broadband market, driven by the increasing dependence on broadband internet connectivity in the business sector for various functions, such as cloud computing, video conferences, and digital collaboration tools. For consistent connectivity and productivity, businesses usual opt for fiber-optic and high-data broadband solutions. We expect this trend to persist, especially as hybrid and work-from-home models take hold worldwide, providing impetus for large-scale deployment of stable networks with high throughput.

The household segment is forecasted to achieve the fastest CAGR, driven by rising requirements of broadband to cater streaming services, online education, gaming, and smart home applications. With remote work and virtual learning on the rise, the need was greater than ever for high-speed, low-latency internet at home. Suburban and rural broadband are also primed for the growth of fixed wireless access and fiber-optic plans that add to choice.

Broadband Services Market Segmentation:

By Broadband Connection

Fiber Optic
Wireless
Satellite
Cable
Digital Subscriber Line (DSL)

By End-Use

Business
Household
Others

Asia Pacific Dominated Global Broadband Services Market, North America’s Broadband Market Expands by Government Initiatives and Investment

In 2023, Asia Pacific led the broadband services market, capturing 32% of global revenue. This growth is driven by large userbase, quick adoption of ultra-quick broadband technologies, and powerful authorities initiatives. With China and Japan being two strong supporters for higher broadband presence in their territories. In addition, for middle- and low-income consumers, internet service providers have market-expanding, low-priced add-on services.

North America’s broadband market continues expanding, supported by government efforts to reduce underserved populations. The increased need for remote work and e-learning worldwide has seen Canada invest more into high-speed internet, particularly in rural areas. The emphasis on next-gen technologies including 5G, and embedded computing in the region also fuels broadband coverage, affecting accessibility and digital inclusion in urban as well as remote geographic areas.

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Table of Contents – Major Key Points

1. Introduction

2. Executive Summary

3. Research Methodology

4. Market Dynamics Impact Analysis

5. Statistical Insights and Trends Reporting

6. Competitive Landscape

7. Broadband Services Market Segmentation, by Broadband Connection

8. Broadband Services Market Segmentation, by End Use

9. Regional Analysis

10. Company Profiles

11. Use Cases and Best Practices

12. Conclusion

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