Wireless Connectivity Technology Market Size, Growth, Trends & Forecast (2022 - 2027)
Wireless connectivity is a method of reducing complex cable networks between buildings that are utilised by residences, communication networks, and enterprise connections. Many electrical device markets have a strong presence of wireless communication technology. For some gadgets, such as smartphones and mobile phones, WiFi, Bluetooth, and GPS are becoming standard. Wireless communication is also necessary for the Internet of Things (IoT) applications, spanning from control devices and gateways to the cloud. IoT devices employ wireless connectivity to create an access point through which communication and data transfer between two devices can take place. One of the significant developments in the wireless connectivity market is collaborations and partnerships.
Wireless Connectivity Technology Market Recent Developments
Qualcomm claimed that its flagship Snapdragon 8 Gen 1 processor is being made by Samsung's 4nm foundries, but the chipmaker is being forced to shift some production to TSMC due to production problems. Since Samsung's yields have fallen short of Qualcomm's expectations, the latter will compensate by having TSMC take over some of the production.
The latest version of STMicroelectronics' ST31 secure microcontroller has been launched. In addition to biometric payment cards, the new microcontroller can be used in ID cards and transit ticketing platforms. The ST31N600 is based on Arm's SecurCore architecture and uses ST's own 40nm eSTM technology and energy harvesting circuitry to power several critical smart card services without a battery. The system, for example, may host payment applications, complete biometric matches, and produce a fresh dynamic verification code each time a user attempts to complete an EMV transaction.
Intel Corp plans to go public with its self-driving vehicle business Mobileye in the United States in mid-2022, valuing the Israeli company at more than $50 billion. After the initial public offering (IPO) of freshly issued Mobileye stock, chip giant Intel, which employs almost 14,000 people in Israel's high-tech industry, expects to keep Mobileye's leadership team and retain a majority stake in the company.
Renesas Electronics Corporation, a leading provider of innovative semiconductor solutions, today announced the launch of a new range of extremely low-cost, very low-power Field-Programmable Gate Array (FPGA) devices. The ForgeFPGATM Family will fill a gap in the market for modest quantities of programmable logic that can be developed rapidly and efficiently into cost-conscious applications.
Wireless Connectivity Technology Market Market Drivers
Wireless sensors are predicted to gain traction as sensor makers focus more on improving wireless sensing technologies. The falling cost of sensors, combined with the expanding trend of process optimization, home automation, and lifestyle improvement, is driving wireless sensor network adoption (WSNs).
The rapid implementation of wireless sensors in smart homes and offices is enabled by advancements in numerous wireless communication technologies such as ZigBee, BLE, Z-Wave, and EnOcean. Sensors are utilised in a variety of applications every day, from homes to offices, and high-end precision sensors are used in a variety of sectors and laboratories. As a result of the increased need for affordable smart wireless sensors, the market for BLE chipsets/devices is predicted to rise, as these devices can be paired with Smart Ready devices.
Wireless Connectivity Technology Market Restraints
Sensors and other peripherals take a lot of power. The energy consumption rate of sensors in a wireless sensor network varies depending on the communication protocols used by the sensors. Despite the availability of technology such as ultra-low-power processors, tiny mobile sensors, and wireless networking, IoT devices require efficient power management and optical power consumption. Because multiple devices must be linked at the same time, connectivity load is another major issue. A typical smart house, for example, might include 50–100 linked appliances, lights, thermostats, and other gadgets, each with its power requirements. Smart metres and other equipment are also utilised to increase the efficiency of the power line. Because replacing the batteries of hundreds of sensors, actuators, and other connected devices in IoT systems regularly is not possible, the key roadblock is power management of devices that use wireless technologies like Wi-Fi.
Wireless Connectivity Technology Market Segmentation
Technology; The market is segmented into Wi-Fi, Bluetooth, NFC, ZigBee, GNSS, LTE CAT-M1, NB-IoT, LoRa, and SigFox.
The Wi-Fi segment contributed the most to the market, accounting for 25.7 percent of the market in 2020. Wi-Fi is a widely used wireless networking technology that employs radio waves to provide high-speed internet and network connections across long distances. This technology is one of the most widely utilised wireless technologies, and it has a significant impact on the market. Wi-Fi is a wireless network that allows mobile devices like smartphones, tablets, and laptops to connect to the internet. Wi-Fi uses radio waves to transfer data at certain frequencies, the most common of which are 2.4GHz and 5GHz. The widespread use of Wi-Fi as a wireless LAN connection in residential, commercial, and industrial settings is driving demand for Wi-Fi-enabled smart lighting. Wi-Fi connectivity is typically used for smart lights in pre-existing Wi-Fi-equipped setups. Furthermore, the adoption of IoT-based technology in developing economies has the potential to open up new markets in the future.
Type: The market is segmented into WLAN, WPAN, and LPWAN.
The market share of WPAN-based chipsets is predicted to be the largest. The IEEE 802.15.4 standard is the foundation for wireless personal area network communication. WPAN is a low-bandwidth, small-area networking technology that allows communication over a short distance of roughly 10 metres. Bluetooth, ultra-wideband (UWB), ZigBee, Z-Wave, and Thread are some of the technologies that support WPAN. The advent of the 5th generation of Bluetooth wireless technology is driving the market for WPAN-enabled chipsets to rise. Bluetooth 5 is said to be twice as quick as Bluetooth 4.0 when it comes to low-power applications.
Application: The market is segmented into Wearables, Consumer Electronics, and Healthcare.
Between 2021 and 2026, Consumer Electronics is predicted to have the biggest market share. One of the fastest-growing markets in consumer electronics. Manufacturers update smartphones, tablets, and other such gadgets regularly, and consumers are always on the lookout for new products. With the development of new products equipped with multiple communication technologies, the consumer electronics industry is constantly expanding.
Wireless Connectivity Technology Market Regional Analysis
APAC has the world's largest customer base, and digital technologies applied in this region offer the most potential for transformation. Because APAC is home to the majority of the world's population, the wireless connectivity chip market is expected to grow rapidly as the IoT market expands. As a result, the number of new M2M connections in this region is increasing every year, as is the demand for smart consumer items and the industrial revolution. Wireless connectivity technologies appear to have more potential to improve people's lives and revolutionise the industrial sector, given the large population bases in some of APAC's developing economies, such as China, India, and Thailand, as well as related issues like healthcare and energy management.
Wireless Connectivity Technology Market Leader
Intel is the largest company in the global wireless connectivity technology market.
Wireless Connectivity Technology Market Key Players
Impact of COVID-19 for Wireless Connectivity Technology Market
The wireless connectivity market's demand is anticipated to rise as a result of factors such as rising demand for cloud services, video streaming, and broadband usage. Furthermore, COVID-19 is predicted to increase the demand for digital transformation and technologies such as 5G, IoT, AI, and intelligent edge computing in the medium to long term for future optimization.
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