The expansion of Verizon’s C-Band coverage provides additional growth opportunities in nationwide broadband with over 150,000 net additions expected for fixed wireless access alone in the first quarter of 2022.
As the company continues to expand its 5G network over the next few years, it plans to significantly expand its fixed wireless coverage of households and businesses, disrupting an existing market and capturing share; becoming its second-largest contributor to revenue growth. Moreover, the telco would cover 50 million households and 14 million businesses, and have 4 to 5 million total fixed wireless subscribers by year-end 2025.
As the world continues to transition to a more hybrid work environment and is increasingly mobile, the new currency will be ultra-fast, ultra-reliable connectivity, creating new markets and ushering in the 5G economy. The company’s network-as-a-service (NaaS) strategy was built to drive the 5G economy through an ever-expanding volume of services and technologies that are enabled by 5G Ultra Wideband’s capacity to connect to a massive number of devices at high speed.
The company also outlined multiple paths to growth: 5G mobility, nationwide broadband, mobile edge compute (MEC) and business solutions, the value market, and network monetization.
“Through our deliberate strategy of investment and divestment we have already significantly increased the size of our addressable market which, over the next 5 years, should grow an additional $120 billion. We chose a strategy where we not only participate in a much larger market but also a market where we are in the leading position in our paths to growth,” said Hans Vestberg, Verizon Chairman and CEO.
With the benefit of the accelerated C-Band deployment, new products, services, and partnerships Verizon expects to generate service and other revenue growth of approximately 3% in 2022.