NEW YORK, Oct. 28, 2024 /PRNewswire/ — Report with market evolution powered by AI – The global mobile broadband infrastructure market size is estimated to grow by USD 34.18 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 9.4% during the forecast period. Expansion of mobile broadband infrastructure in emerging countries is driving market growth, with a trend towards rising investment in mobile broadband infrastructure. However, high capital requirements for deployment of mobile broadband infrastructure poses a challenge.Key market players include Adtran Holdings Inc., Arista Networks Inc., AT and T Inc., Bharti Airtel Ltd., Charter Communications Inc., China Mobile Ltd., Cisco Systems Inc., Deutsche Telekom AG, Hewlett Packard Enterprise Co., HFCL Ltd., Huawei Technologies Co. Ltd., Intel Corp., Lounea, Motorola Solutions Inc., NEC Corp., Nokia Corp., Orange SA, PomeGran Inc, Qualcomm Inc., Samsung Electronics Co. Ltd., Telefonaktiebolaget LM Ericsson, Telstra Corp. Ltd., T Mobile US Inc., United Group B.V., Verizon, Vodafone Group Plc, and ZTE Corp..

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Market Driver

Mobile broadband infrastructure is experiencing significant investment, driving advancements in connectivity and digital infrastructure. In August 2024, Bharti Airtel and Reliance Jio invested USD2 billion in new 5G network equipment. The Oklahoma broadband governing board approved USD374 million for infrastructure projects in January 2024. These investments are crucial for deploying advanced technologies like 5G and fiber optics, delivering faster, more reliable internet access. Enhanced mobile broadband capabilities support emerging technologies and services, such as smart cities, telemedicine, and remote work. Strategic investments are essential for a more connected and technologically advanced future, fostering economic growth, innovation, and bridging the digital divide. These government and vendor investments may positively impact the global mobile broadband infrastructure market’s growth during the forecast period. 

The Mobile Broadband Infrastructure Market is experiencing significant growth due to the increasing demand for uninterrupted high-speed internet connectivity in various sectors. Corporate applications, commercial development, and digital transformation are driving this trend, with online commerce, retail goods, hospital records, media and entertainment, and online learning leading the way. Wireless technology, fiber optics, and wireless broadband services are at the forefront of this digital revolution. The household sector and mobile device usage are also contributing to the growth of the market, with the Gigabit Society becoming a reality. Internet Service Providers are investing in next-generation technology to meet the demands of wireless subscribers for ultra-fast broadband. Public safety and critical infrastructure operators are leveraging mobile broadband for real-time information and communication channels, while next-generation technology like video surveillance and smart grid technologies are becoming essential. Network congestion and traffic management are key challenges, but advancements in wireless broadband and fiber optics are addressing these concerns. Mobile connectivity is transforming industries, from communication and client engagement to public safety applications and real-time information. Smartphones and high-speed data access are enabling economic reductions and improving communication channels for first responders and other critical infrastructure operators. 

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Market Challenges

The mobile broadband infrastructure market faces significant challenges due to high capital requirements for deploying advanced technologies like 5G. The deployment of new base stations, upgrading existing networks, and acquiring spectrum licenses involve substantial investments. A base station can cost between USD20,000 and USD50,000, depending on location, infrastructure needs, and technology used. Spectrum licenses can be extremely expensive, as evidenced by T-Mobile US’s USD3.3 billion purchase in September 2023. These financial burdens can hinder smaller players and those in emerging markets, slowing down infrastructure development. The densely required network of small cells for 5G necessitates numerous base station installations, increasing hardware costs. These expenses can lead to higher end-user prices and slower adoption of advanced technologies, potentially hindering the growth of the global mobile broadband infrastructure market.The Mobile Broadband Infrastructure Market faces several challenges in delivering high-speed internet to households and businesses. Communication channels must be reliable for wireless broadband services, especially during peak usage times. Fiber optics and fixed broadband services provide ultra-fast access, but coverage remains an issue. Client engagement is crucial in a Gigabit Society where mobile device usage dominates. Public safety applications require real-time information, making network congestion and traffic management critical. Next-generation technology is essential to address system interoperability and cost-effective solutions for first responders and critical infrastructure operators. Wireless broadband, including mobile connectivity for smartphones, is key to ensuring public safety and enabling smart grid technologies, video surveillance, monitoring, and emergency alerts. Effective public safety education is necessary to ensure the successful implementation of these technologies.

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Segment Overview

This mobile broadband infrastructure market report extensively covers market segmentation by

Component1.1 Hardware1.2 SoftwareEnd-user2.1 Telecom operators2.2 Government2.3 EnterprisesGeography3.1 APAC3.2 North America3.3 Europe3.4 Middle East and Africa3.5 South America

1.1 Hardware- The mobile broadband infrastructure market consists of various components, with the hardware segment being a crucial part. This segment includes base stations, antennas, routers, switches, and fiber optic cables. The demand for these hardware components is growing due to the global rollout of 5G networks and the increasing requirement for high-speed, low-latency connectivity. Notable developments in this sector include Tillman Fiber Co.’s partnership with T-Mobile to expand its Fiber-to-the-Premise (FTTP) network in Florida. This collaboration highlights the significance of hardware components in providing reliable, high-speed internet services to under-served areas. Moreover, the expansion of mobile broadband to rural and remote locations necessitates, long-range transmission equipment. With the focus on future technologies like 6G, the demand for advanced hardware components is anticipated to continue rising, emphasizing energy efficiency, miniaturization, and AI integration.

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Research Analysis

The Mobile Broadband Infrastructure market refers to the hardware and software systems that enable wireless broadband connectivity for mobile devices. This market is experiencing significant growth due to the increasing demand for high-speed data access on the go. Corporate applications, commercial development, and digital transformation are driving the adoption of mobile broadband infrastructure in various industries. Global broadband services, online commerce, retail goods, hospital records, media and entertainment, public safety, and real-time information are some sectors that are benefiting from mobile connectivity. Wireless technology, including 4G, 5G, and next-generation technology, is the backbone of mobile broadband infrastructure. Mobile device usage continues to rise, leading to increased network congestion and the need for traffic management solutions. First responders and communication channels also rely on mobile broadband infrastructure for real-time information and public safety. High-speed data access is essential for smartphones and other mobile devices, making mobile broadband infrastructure an indispensable component of modern communication channels.

Market Research Overview

The Mobile Broadband Infrastructure Market is experiencing significant growth due to the digital revolution and increasing reliance on high-speed internet for various applications. Corporate applications, commercial development, and digital transformation are driving the demand for global broadband services. Online commerce, retail goods, hospital records, media and entertainment, and online learning are some sectors benefiting from uninterrupted broadband connectivity. Wireless technology, fiber optics, and wireless broadband services are key enablers, providing high-speed data access to wireless subscribers. Client engagement, public safety, and communication are crucial areas of focus, with real-time information and emergency alerts becoming essential. Network congestion and traffic management are challenges being addressed through next-generation technology and system interoperability. The household sector, ultra-fast broadband, and Internet Service Providers (ISPs) are also contributing to the Gigabit Society’s growth. Public safety applications, critical infrastructure operators, smart grid technologies, video surveillance, monitoring, and cost-effective solutions are other significant areas of investment. Mobile device usage and mobile connectivity, particularly through smartphones, are fueling the market’s expansion.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ComponentHardwareSoftwareEnd-userTelecom OperatorsGovernmentEnterprisesGeographyAPACNorth AmericaEuropeMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

PacifiCan funding of over $32 million will help businesses bring new technologies to market and adopt AI

BURNABY, BC, Oct. 28, 2024 /CNW/ – Artificial Intelligence (AI) is a transformational opportunity for British Columbians. With a strong AI ecosystem – one that includes researchers developing technology, companies creating AI-based solutions to the world’s challenges, and adopters putting the power of AI to work in their operations – British Columbian businesses are well-positioned to leverage the power of AI to drive innovation across the province, creating jobs and economic growth.

Today, the Honourable Harjit S. Sajjan, Minister of Emergency Preparedness and Minister responsible for the Pacific Economic Development Agency of Canada (PacifiCan), announced that businesses and not-for-profit organizations will be able to apply for funding from the new Regional Artificial Intelligence Initiative in British Columbia beginning November 18. In British Columbia, PacifiCan will deliver the RAII with $32.2 million, making investments that help businesses commercialize and adopt AI technologies.

To ensure that Canada stays at the forefront of innovation, the Government of Canada is making strategic investments that will help drive AI adoption across the country. This includes $200 million over five years for Canada’s regional development agencies (RDAs) to deliver the Regional Artificial Intelligence Initiative (RAII) to help businesses bring new AI technologies to market and speed up AI adoption across the country.

In British Columbia, PacifiCan will prioritize projects that not only have strong economic benefits but also bring positive outcomes for human health, the environment, and/or economic resilience and productivity across a wide range of sectors. PacifiCan will welcome project ideas from both businesses and not-for-profit organizations.

PacifiCan is investing in British Columbian businesses, workers and organizations to ensure they have access to the tools they need to succeed at home and compete in the global economy.

More information is available on PacifiCan’s web page: Regional Artificial Intelligence Initiative – Canada.ca

Quotes

“Amazing things are happening in AI in British Columbia. Cutting-edge companies across our province are developing and adopting AI technologies to increase productivity, drive innovation and attract investment. AI has the potential to transform industries in all regions and sectors of our country. The Government of Canada is committed to leadership in AI to ensure B.C. businesses have the resources they need to integrate this transformative technology and harness its benefits right now and for the future.”

-The Honourable Harjit S. Sajjan, Minister of Emergency Preparedness and Minister responsible for the Pacific Economic Development Agency of Canada

“In Burnaby and throughout British Columbia, our innovation ecosystem is thriving. With support from PacifiCan’s Regional AI Initiative, we’re equipping local businesses with the tools to harness transformative AI technology, positioning our province and city as a leader in this field and paving the way for sustainable economic growth and job creation.”

-The Honourable Terry Beech, Minister of Citizens’ Services and Member of Parliament for Burnaby North – Seymour

Quick Facts

AI is a platform technology tool that provides the basis for creating multiple end-use products or services in a variety of sectors, such as an AI-based robotics system in auto manufacturing or food processing.Budget 2024 announced a $2.4 billion package to secure Canada’s AI advantage.Over the next five years, PacifiCan will deliver the RAII in BC with $32.2 million.Through the Pan-Canadian Artificial Intelligence Strategy, the Government of Canada is investing to drive the adoption of AI across Canada.

Associated Links:

Pacific Economic Development Canada – Canada.caSecuring Canada’s AI advantageBudget 2024Pan-Canadian Artificial Intelligence Strategy

Stay Connected:

Follow PacifiCan on X and LinkedIn
Toll-Free Number: 1-888-338-9378
TTY (telecommunications device for the hearing impaired): 1-877-303-3388

SOURCE Pacific Economic Development Canada

Tech company establishes a global presence with dual headquarters in Texas and Norway after acquiring Music Group AI and signing the music industry’s first-ever AI prompting artists

AUSTIN, Texas and BERGEN, Norway, Oct. 28, 2024 /PRNewswire/ — Music Group Technologies Inc., a pioneer in merging traditional music creation with artificial intelligence (AI) driven innovation, has acquired Music Group AI LLC to leverage its proprietary methods in music AI prompting. This move establishes Music Group Technologies’ United States headquarters in Austin, Texas, and its European headquarters in Bergen, Norway, solidifying its status as a global leader in music technology.

Music Group Technologies has become the first company in the music industry to recognize and sign prompters who use AI software such as Suno or Udio to create or enhance music. Two of the four engineers joining Music Group Technologies are based in the U.S., while the other two are based in Norway. This groundbreaking recognition of the role of AI-assisted music creators has the potential to redefine the modern music industry. In addition, MGT has signed three traditional artists — two in the U.S. and one in Norway.

“We’re at the forefront of something innovative and disruptive but truly exciting,” said Matt Alvers, Co-founder of Music Group Technologies. “While many in the music industry fear AI, our experience in both the music industry and with global technology sets us apart. Our talented developers are already working with previously signed artists, major music publishers, renowned artists and the estates of legendary musicians to repurpose lyrics and music.”

Music Group Technologies’ dual U.S. and European headquarters will serve as gateways for fostering technological innovation and artistic collaboration with international musicians and AI engineers.

“Skilled music AI engineers will be essential to the future of music, and mixing innovative prompting with musicians and songwriters marks a new revolution for the music industry,” said Paal Larsen, Co-founder of Music Group Technologies. “With dual headquarters in Austin and Bergen, we are strategically positioned to support both artists and creators on a global scale.”

Matt Alvers brings a unique blend of music industry and AI expertise to Music Group Technologies. From the early to mid-2000s, Alvers discovered rising talent and managed Top 40 artists signed to Universal, Elektra and MCA/Geffen Records. In 2003, Alvers helped showcase rising young talent Taylor Swift to multiple record executives at the Florida Music Festival, which was one of Swift’s first major industry showcases. In 2005, Alvers joined Larsen to expand the Norwegian-based tech company Meltwater Group across North America ahead of its $1 billion IPO. Most recently, Alvers was a Regional Vice President at tech giant Salesforce, where he focused on the industry’s cutting-edge technologies, including AI and Fortune 500 digital transformations.

Paal Larsen is a Norway-based entrepreneur, investor and software-as-a-service (SaaS) executive with a strong focus on developing people, teams and international companies. In the 2000s, Larsen worked in the U.S. music industry alongside Matt Alvers, helping launch the international careers of several prominent artists and shaping the artist development process. He later transitioned into tech, building and developing international companies in AI, security and sustainability. A key player in the success of Meltwater, Larsen contributed to the company’s global expansion across Europe, APAC and other regions, playing a pivotal role in its $1 billion IPO in 2020. As co-founder of the Terravera Foundation, he champions sustainability and responsible innovation across all ventures.

About Music Group Technologies Inc.

Music Group Technologies Inc. is a forward-thinking tech company serving the music industry. Founded by Matt Alvers and Paal Larsen, Music Group Technologies focuses on innovative digital solutions to move the industry forward and modernize go-to-market success. Music Group Technologies is the first company to sign music AI prompters as professional artists and songwriters. Its dual headquarters in Austin, Texas, and Bergen, Norway, serve as international centers for driving innovation with musicians, songwriters and producers. Music Group Technologies’ engineers specialize in cutting-edge music production tools. Visit musicgrouptechnologies.com for more information.

Media contact:
Raychel Lean
raychel@rep-ink.com
305-926-4875

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SOURCE Music Group Technologies