The latest market report published by Credence Research, Inc. “Global Wireless Connectivity Market: Growth, Future Prospects, and Competitive Analysis, 2015 – 2027”. The market for wireless connectivity is expected to grow from US$ 72.6 billion in 2020 to US$ 174.8 billion by 2027 with a CAGR of over 13.4% during the forecast period from 2021 to 2027.
Global Wireless Connectivity Market, 2020 – 2027 (USD Million)
Browse the full report at https://www.credenceresearch.com/report/wireless-connectivity-market
Increased demand for wireless sensor networks in the development of smart infrastructure, a significant increase in internet penetration rate, growth in adoption of the Internet of things (IoT), increased demand for low-power wide-area (LPWA) networks in IoT applications, rising trends such as work from home and virtual learning in response to the COVID-19 pandemic are some of the key driving factors of the wireless connectivity market.
Consumer Electronics is expected to hold the largest share in the market.
Consumer electronics is one of the fastest-growing segments in the markets. Smartphones, tablets, and other similar devices are frequently updated, and users are always on the lookout for the most recent models. The consumer electronics market is constantly evolving due to the introduction of new goods that are equipped with a variety of communication technologies. The consumer drone market grew rapidly. Continuous advancements in network infrastructure and photographic equipment are critical to the industry’s success in the future. Drone activity at one of the UK’s busiest airports caused hundreds of flights to be delayed in December 2018. Unexpected changes are likely in the consumer drone industry. Robots designed for entertainment, companionship, or domestic tasks are examples of consumer robotics. Although social robots are not widely accepted, they are gaining traction in Japan.
Asia Pacific to Hold Largest Share of the Wireless Connectivity
Asia pacific has the largest client base in the world, digital technologies adopted in this region have a greater potential for transformation. Because APAC is home to the majority of the world’s population, the APAC wireless connection chip market is expected to expand rapidly as the IoT sector expands. As a result, the number of new M2M connections added each year, the demand for smart consumer products, and the need for the industrial revolution in this region are all increasing. Given the large population bases in some of APAC’s developing economies, such as China, India, and Thailand, wireless connectivity technologies appear to have more opportunities to improve living standards and revolutionize the industrial sector in APAC, as well as related issues such as healthcare and energy management. Furthermore, government initiatives in China and India to promote business growth and modernization have increased the use of IoT-connected devices, including connection ICs.
New Product Launch and Acquisition are the Key Growth Strategies for Key Players
Intel Corporation, Texas Instruments Incorporated, Qualcomm Incorporated, Broadcom, Stmicroelectronics N.V., Nxp Semiconductors N.V., Microchip Technology Inc., Mediatek Inc., Cypress Semiconductor Corporation and Renesas Electronics Corporation are some of the major competitors in the global wireless connectivity market. Rivet Networks (Austin), a technology and product startup focused on providing the best networking experience possible to customers, was acquired by Intel in May 2020. Rivet combines hardware, software, and cloud-based technologies to create solutions that are both powerful and simple to use. According to a business release, with Rivet Networks’ and Intel’s top Wi-Fi devices, Intel can extend its PC Wi-Fi portfolio, better serving consumers, the ecosystem, and channel partners in April 2020. With the acquisition of Cypress, Infineon can now focus even more on structural growth drivers and a broader range of applications. As a result, the company’s transition to profitable growth will be accelerated.
Global Wireless Connectivity Market by Technology, 2015 – 2027
- Cellular M2M
- Near-field Communication (NFC)
Global Wireless Connectivity Market by Network Type, 2015 – 2027
- Wireless Local Area Network (WLAN)
- Wireless Personal Area Network (WPAN)
- Wireless Wide Area Network (WWAN)
Global Wireless Connectivity Market by Application, 2015 – 2027
- Consumer Electronics and Wearable Devices
- Automotive and Transportation
- Building Automation
- IT and Telecom
- Energy and Utilities
- Aerospace and Defense
Global Wireless Connectivity Market by Company
- Cypress Semiconductor Corporation
- Intel Corporation
- Mediatek Inc.
- Microchip Technology Inc.
- Nxp Semiconductors N.V.
- Qualcomm Incorporated
- Renesas Electronics Corporation
- Stmicroelectronics N.V.
- Texas Instruments Incorporated