Wireless Connectivity Market

Global Wireless Connectivity Market Size (2023 to 2028)

The global wireless connectivity market size is expected to be worth USD 72.50 Billion in 2023. It is expected to grow at a CAGR of 13.20% during the forecast period and reach a value of USD 134.76 Billion by 2028.

Wireless connectivity is a technique used by homes, communication networks, and corporate connections to reduce complex wired networks in buildings. Wireless connectivity equipment has deep roots in many electrical appliance markets. Wi-Fi, Bluetooth, and GPS are becoming universal for some devices like smartphones and mobile phones. Additionally, wireless connectivity is also required on the Internet of Things (IoT) applications, ranging from gateways and control devices to the cloud.

MARKET DRIVERS:

The main factors driving the wireless connectivity market include the growing adoption of the Internet of Things (IoT) and cloud computing and the growing demand for smartphones and other wireless technology devices. Cables such as Wi-Fi, Bluetooth, and ZigBee, the rapid growth of Internet connectivity growing demand for low-power wide-area networks (LPWA). Many electrical devices use wireless connectivity equipment. GPS, Wi-Fi, and Bluetooth are becoming universal for many devices, such as mobile phones and smartphones. Apart from this, wireless connectivity is also required for a variety of IoT applications, such as control devices, gateways, and cloud computing. IoT devices use wireless connectivity to assist an access point from which data transfer and communication takes place between two devices. In recent years, business demand for wireless connectivity has increased to improve operational efficiency, save costs, and accelerate decision-making.

MARKET RESTRAINTS:

Some of the challenges facing the wireless connectivity market are the lack of uniform communication principles, interference with other electromagnetic sources, the layered structure, and physical objects that hinder the growth of wireless connectivity technology. In addition to this, the demand for increased information security and the granting of features such as power consumption, data rates, and the range of many wireless technologies are also negatively impacting the growth of the wireless connectivity market.

Impact of COVID-19 on the wireless connectivity market:

The measures taken around the world to control the spread of COVID-19 are extraordinary at the cost of unprecedented economic losses. There is great confusion among policymakers about saving lives or the economy. Economies around the world are collapsing due to the COVID-19 pandemic, where the price of every product has dropped significantly. The effects of COVID-19 have a significant impact on all end-use industries, affecting the supply of raw materials, disrupting the electronics value chain, and causing inflation risk in products. More positively, the disruption has led to an acceleration of remote work and a greater focus on assessing and reducing end-to-end value chain risks. The demand for wireless technologies has increased due to the pandemic, as they help to connect virtually.

Various wireless communication and positioning technologies, such as drones, cellular positioning systems, and global positioning systems (GPS), are used to monitor virus transmission in the external environment. For example, a drone network is used to monitor crowds and maintain social distance in metropolitan areas. Several countries have introduced "pandemic drones" to strengthen social distancing. Additionally, these pandemic drones can monitor temperature, flu, sneezing, and coughing in public places. Various indoor positioning technologies such as Radio Frequency Identification (RFID), Wi-Fi, Visible Light, Zigbee, and Bluetooth may be promising solutions for monitoring people in quarantine and maintaining a safe work environment. A new solution recently developed for this cause is Proximity Trace, which is a sensing and communication technology for remote monitoring of personnel in the performance of essential activities. In Proximity Trace, a tag is attached to a worker's hat or worn on a lanyard that transmits alerts in real-time when workers are in close contact.

REPORT COVERAGE:

This research report on the global wireless connectivity market has been segmented and sub-segmented into the following categories.

Global Wireless Connectivity Market – By Connectivity Technology:

• Wi-Fi 
• Bluetooth Classic 
• Bluetooth 4X 
• Bluetooth 5X 
• ZigBee 
• Z-Wave 
• Thread 
• NFC 
• GNSS 
• EnOcean 

The LTE M1 category is a cheaper alternative to more conventional LTE services, such as Cat 4, which has been designed to support 100MB / s throughput.

Global Wireless Connectivity Market – By Type:

• WLAN 
• WPAN 
• Satellite 
• LPWAN 
• Cellular M2M 

WPAN is low bandwidth, a small area network technology that enables communication in a very short range of around 10 meters. Technologies that WPAN supports include Bluetooth, Ultra-Wideband (UWB), ZigBee, Z-Wave, and Thread. ZigBee is used to create personal networks with small, low-power digital radios. It has a transmission distance of 10 to 100 meters. ZigBee runs at a frequency of 2.4 GHz. It is best for applications that require a long battery life, a secure network, robustness, and low data transfer rates.

Global Wireless Connectivity Market – By End User:

• Wearable Devices 
• Healthcare 
• Consumer Electronics 
• Building Automation 
• Automotive & Transportation 

• Others (Agriculture, BFSI, Retail, Oil & Gas, Aerospace & Defense, and Industrial) 

Since smartphones, tablets, and similar devices are regularly updated by manufacturers, consumers are always on the lookout for the latest products. 

Global Wireless Connectivity Market – By Region:

• North America
• Europe
• APAC
• Latin America
• Middle East and Africa

North America is made up of technologically advanced countries like Canada and the United States. The United States and Canada offer great potential for the application of the Internet of Things. This should boost the market for wireless connectivity technologies. In turn, this is expected to increase the wireless connectivity market in the region.

The Asia-Pacific wireless connectivity market is in its promising phase. The region is expected to be among the top users of wireless connectivity devices. Increased consumer inclination towards advanced technology products is likely to drive the Asia Pacific wireless connectivity market soon. Additionally, government initiatives from countries such as Japan, China, India, and South Korea in the field of electronics and semiconductors provide lucrative opportunities for the electronics and semiconductor industries across Asia-Pacific.

KEY MARKET PLAYERS:

The key players in the wireless connectivity market are QUALCOMM Inc. (US), Cisco Systems Inc. (US), Microchip Technology Inc. (US), Texas Instruments Inc. (US), Cypress Semiconductor Corporation (US), Intel Corporation (US), NXP Semiconductors (Netherlands), AT&T Inc. (US), STMicroelectronics NV (Switzerland), and Renesas Electronics Corporation (Japan) among others.

RECENT HAPPENINGS IN THE MARKET:

• Cisco Systems Inc. plans to get Fluid Mesh Networks, a remote innovation organization in New York City that provides travel administration, mining activities, and ports.
• Qualcomm Technologies, Inc., a subsidiary of Qualcomm Incorporated, launches a flagship portfolio of mobile connectivity systems that represent the most advanced Wi-Fi 6E offerings of its kind.