The ever-increasing demand for high-speed internet globally is putting the broadband services industry into the limelight, opening lucrative revenue-generation streams for companies. Top broadband service providers, including BEC Inc., AT&T Inc., Singtel, Verizon, and Comcast are competing to become the biggest names in the global broadband services industry.
Leading companies are constantly focusing on expanding their businesses across lucrative regions, especially developing ones. Similarly, they are introducing new affordable plans to woo more and more customers.
In January 2025, Comcast expanded its state-of-the-art network to bring fast, reliable internet to Coral Springs, Florida. The company is building a new and powerful fiber network to connect communities to fast, reliable internet from Comsat. The company’s new, next-generation network will give customers across Coral Springs access to faster internet speeds.
In October 2024, AT&T introduced the industry-first seamless integration of 5G networks and fiber with a single device. The novel gateway is AT&T’s first converged device for business customers and is designed to deliver lightning-fast fiber internet. Similarly, companies like Jio and Starlink Services LLC are disrupting the industry by launching fast-speed internet in far-flung areas with limited accessibility.
According to a recent report published by Coherent Market Insights, the global broadband services market is forecast to touch a gigantic valuation of US$ 750.9 billion in 2030, up from US$ 410.82 billion recorded in 2023. Global demand for broadband services will likely surge at a CAGR of 9% during the assessment period.
Increasing penetration of the internet, growing need for higher bandwidth, and expansion of broadband infrastructure are key factors boosting growth of the global broadband services market. Moreover, rising adoption of IoT devices and escalating popularity of online education and remote work will likely benefit the industry in the coming years.
The number of internet users is increasing rapidly due to factors like expanding infrastructure, reduced cost of internet services, and high smartphone penetration. This is expected to positively impact growth trajectory of the broadband services market. On the other hand, high cost of deploying network services is limiting market growth.
“The rapid digital transformation globally and surging demand for high-speed connectivity will likely trigger growth of the broadband services market in the coming years,” says a lead analyst at Coherent Market Insights.
Regionally, North America is expected to dominate the global broadband services industry, owing to surging demand for broadband services, especially in the United States. High adoption of advanced technologies like automation, IoT, and autonomous vehicles are also supporting market expansion in the region.
On the other hand, Asia Pacific, spearheaded by China and India, is set to emerge as a highly lucrative market for broadband service providers during the assessment period. This is attributed to increasing government initiatives to expand internet access and growing adoption of online teaching platforms.
