Broadband Market Size to Reach USD 960.14 Billion by 2031, Driven by Experiences Significant Growth Owing to Growing Demand for High-Speed Internet and Global Internet Penetration | The Insight Partners

NEW YORK, June 10, 2025 /PRNewswire/ - According to a new comprehensive report from The Insight Partners, the global broadband market is observing significant growth owing to growing demand for high-speed Internet and rising internet penetration.

The report runs an in-depth analysis of market trends, key players, and future opportunities. In general, the broadband market comprises a vast array of type, network, end-users, and geography, which are expected to register strength during the coming years.

To explore the valuable insights in the Broadband Market report, you can easily download a sample PDF of the report: https://www.theinsightpartners.com/sample/TIPRE00009016/

Overview of Report Findings

1. Market Growth: The Broadband Market was valued at US$ 505.43 billion in 2024 and is projected to reach US$ 960.14 billion by 2031; it is expected to register a CAGR of 9.6% during 2025–2031. 
   
   
2. Market Dynamics and Insights: As the broadband sector undergoes a significant transformation, it stands at a pivotal moment shaped by a convergence of public funding initiatives and rapid technological progress. Federal investments—particularly through programs like the Broadband Equity, Access, and Deployment (BEAD) initiative—are accelerating the expansion of broadband infrastructure into rural and underserved communities across the United States. In 2024, these efforts gained momentum as BEAD began allocating funds to states based on local connectivity needs, helping close the digital divide and ensure equitable access to high-speed Internet. Simultaneously, the integration of emerging technologies such as artificial intelligence (AI), machine learning, and automation is reshaping network demands. As digital services become increasingly data-intensive and latency-sensitive, the need for robust, scalable, and future-proof broadband networks is more pressing than ever. Fiber-optic technology, with its capacity for high bandwidth and reliability, is set to play a central role in supporting these evolving requirements.
   
   
3. Regional Insights: According to the GSMA's Mobile Economy Asia Pacific 2024 report, the mobile industry in the Asia Pacific region is poised to contribute over US$ 1 trillion to the regional economy by 2030. This projected growth, driven by the accelerated adoption of 5G technologies, is expected to outpace global averages. In 2023, mobile technologies and services accounted for 5.3% of the region's GDP, translating to an economic value of approximately $880 billion. This contribution is largely attributed to increased productivity and digital transformation across key sectors such as manufacturing and fintech. The mobile sector's economic impact in Asia Pacific is forecast to grow by 15% between 2023 and 2030, compared to a 12% global average. This strong momentum in mobile connectivity directly supports the growth of the broadband market in Asia Pacific. The expansion of 5G infrastructure, coupled with rising demand for high-speed Internet to support digital transformation initiatives, is fueling investment and innovation in broadband technologies. As businesses and consumers increasingly rely on robust digital networks, broadband adoption in the region is expected to accelerate, reinforcing Asia Pacific's position as a leading growth market in the global broadband landscape.
   
   
4. Geographical Insights: Asia Pacific is expected to dominate the broadband market with the highest market share in 2024.

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Market Segmentation

• In terms of type, the broadband market is segmented into fixed broadband and mobile broadband.
• Based on the network, the market is divided into 3G, LTE/4G, and 5G.
• In terms of end-users, the market is segmented into industrial, commercial, and others.
• The broadband market is segmented into five major regions: North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America.

Competitive Strategy and Development

• Key Players: A few major companies operating in the broadband market include AT&T, China Telecom Corporation Limited, Comcast Corporation, BT Group, Deutsche Telekom, Orange, Nippon Telegraph and Telephone Corporation, Reliance Jio, Verizon, and Vodafone Group Plc., among others.
• Trending Topics: AI and Network Automation in Broadband, LEO Satellite Broadband, among others

Global Headlines on the Broadband Market

"AT&T has reached an agreement to acquire substantially all of Lumen's Mass Markets fiber business for $5.75 billion, subject to purchase price adjustments, in an all-cash transaction that will expand investment in critical U.S. connectivity infrastructure, create new middle-class jobs, and accelerate high-speed fiber internet access to millions of Americans."

"Nokia announced that it was selected by Internet service provider Outer Reach Broadband to deploy a next-generation fiber network across rural Maine. The expansive network enables Outer Reach to bring new, enhanced multi-gigabit broadband services to homes and businesses, helping to reduce the digital divide and foster local economic development. Outer Reach Broadband is focused on closing Maine's digital divide by providing fast, reliable, and affordable internet access. With Nokia's fiber solution, it will be able to provide customers with a 10 Gbps symmetrical broadband service that will help significantly enhance the user experience. The solution is also ready for 25G to address future needs."

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Conclusion

Broadband refers to high-speed internet access that is always on and faster than traditional dial-up connections. It encompasses various transmission technologies, including fiber-optic, cable, DSL (Digital Subscriber Line), satellite, and fixed wireless access (FWA), enabling the rapid transfer of large amounts of data for applications such as video streaming, cloud computing, online education, and real-time communication. The growth of the broadband market is driven by several key factors: rising global demand for high-speed and reliable Internet, increased consumption of digital content, the proliferation of smart devices and Internet of Things (IoT) applications, and the growing shift toward remote work and virtual learning. Additionally, advancements in technologies such as 5G and AI are fueling network automation and efficiency, while government-backed initiatives and funding programs—such as the Broadband Equity, Access, and Deployment (BEAD) program in the U.S. and BharatNet in India—are expanding infrastructure into rural and underserved areas. The rising need for digital inclusion, enterprise digital transformation, and smart city development further reinforce the momentum behind broadband expansion, making it a critical enabler of socioeconomic growth in both developed and emerging markets.

The report from The Insight Partners, therefore, provides several stakeholders—including network equipment manufacturers, telecom operators & internet service providers, regulators & government agencies, and end-users—with valuable insights into how to successfully navigate this evolving market landscape and unlock new opportunities.

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