The Wireless Connectivity Market was valued at US$ 46,051.8 Bn in 2018 and is projected to reach US$ 127,880.0 Mn by 2027; it is expected to grow at a CAGR of 12.5% from 2020 to 2027.

The growing demand for connected devices and digital services as well as the adoption of advanced technologies by industries are contributing substantially towards the positive growth of wireless connectivity market around the world. The proliferation of smart devices, easy availability of internet, advancement of IoT, and the advent of smart homes and smart cities are some of the major reasons for the exponential increase in the use of wireless connectivity technologies. The connected devices are also increasing exponentially over the past five years.  These connected devices communicate and continuously generating an enormous amount of data every second. This digitization revolution presents a massive opportunity for businesses to utilize the enormous volumes of user/process data to gain useful insights.

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The wireless connectivity market globally is segmented on the basis of technology into Wi-Fi, Bluetooth, Cellular, Zigbee, GNSS, and others. The other wireless connectivity technologies include Li-Fi, LoRaWAN, NFC, RFID, Thread, Wi-Max, EnOcean, and Z-Wave among others. The wireless connectivity market is further segmented by end-use into industrial, construction infrastructure, energy and utilities, healthcare, automotive transportation, consumer, and others. The other end-use industries involved in global wireless connectivity market include finance, education, media entertainment, and agriculture among others. Geographically, the market is divided into five regions including North America, Europe, Asia-Pacific, Middle East Africa, and South America.

With the rapidly changing technological landscape and increasing penetration of advanced technologies such as Internet of Things and artificial intelligence across industry verticals, existing wireless communication technologies prove to be incapable of handling the exponential surge in the number of connected devices efficiently. As a result, there is a massive demand for more robust and reliable wireless communication technologies which are capable of handling this massive influx of data and also offer better cost to benefit ratio to both consumers and manufacturers. Smart devices such as smartphones, wearables, etc. have become an integral part of an individual’s lifestyle in recent times and thus the use of wireless communication over Wi-Fi cellular has also rapidly increased. Other wireless technologies such as Zigbee, Li-Fi, LoRaWAN, NFC, Wi-Max, EnOcean, and Z-Wave among others are also growing at an impressive rate owing to the advantages that these technologies offer over traditional wireless technologies.

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The Asia Pacific is considered as the growth engine of the global economy with countries like China, India, Japan, and others. The Asia Pacific is the fastest growing region in the wireless connectivity market. The Asia Pacific has a thriving economy which is leading to the growth in a wide variety of sectors, including infrastructure, manufacturing, technology, and various others. Many of the economies of Asia Pacific are aggressively pursuing digital applications such as smart cities, autonomous vehicles and IoT in a bid to become global powers. The investors wishing to avoid high-tech costs in the US, APAC region, presents substantial business opportunities for investment in the wireless connectivity technology as countries in the region accelerate digital transformation. Also, the presence of a large semiconductor industry in the region augurs well for the growth of wireless connectivity device integrations. The reduced costs of supply chains prove advantageous for the wireless connectivity solution providers to set their plants in the Asia Pacific.

Company Profiles

• Broadcom, Inc.
• Intel Corporation
• MediaTek Inc.
• Qualcomm Incorporated
• Texas Instruments Inc.
• Cypress Semiconductor Corporation
• Microchip Technology
• NXP Semiconductor N.V.
• Panasonic Corporation
• STMicroelectronics N.V.

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