Global Wireless Connectivity Market Overview:
In order to reduce the complex cable networks that are used in the communication networks, homes, and other institutions, wireless connectivity is used. GPS, Wi-Fi, and Bluetooth are becoming universal for many devices such as mobile phones and smartphones. Apart from this, the wireless connectivity is also required for a diversity of IoT applications such as control devices, gateways, and cloud computing. The IoT devices make use of the wireless connectivity to aid an admittance point from which data transfer and communication between two devices germinates place. In recent years, the business demand has grown for wireless connectivity to improve operation efficiency, cost saving and to make active decision-making capability.
Global Wireless Connectivity Market is expected to reach USD 95.15 Billion by 2023 from USD 50.25 Billion in 2018, at a CAGR of 13.11% during the forecast period.
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Global Wireless Connectivity Market Drivers and Restraints:
The growth of the wireless connectivity market is encouraged by the advancements in the telecommunications trade and high adoption of smartphones, increased market for wireless sensor networks for creating smart infrastructure, increased demand for low-power wide-area networks in IoT applications, a significant increase in the internet penetration rate, and rise in the adoption of IoT. Moreover, significant financial support from governments over the world for R&D in the Internet of Things, emerging requirements for cross-domain applications, and proliferation of Wi-Fi as wireless connectivity standard in consumer and enterprise sectors are some significant opportunities for the growth of the market.
The growth of this market is also fueled by the heightened demand for wireless sensor networks for creating smart infrastructure, and increased demand for low-power wide-area networks in IoT applications.
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Global Wireless Connectivity Market Geographical Segmentation
The region that is having the highest market share in the global market is North America. The developed marketplaces such as the US and Canada have a large potential to help the market owing to the increase in the applications of the IoT. These two regions are the technically advanced countries and are subject to adopting new technologies, creating market possibilities for wireless connectivity. The Asia Pacific region is also contributing its part to the market growth. The government of countries such as India, China, and Japan is taking initiatives for the improvement of the technologies that use wireless connectivity.
This increase of wireless connectivity in the Asia Pacific is attributed to the increasing adoption of smartphones and other connected consumer electronics products, such as smart TVs and bright lighting solutions.
Major Players In this Global Wireless Connectivity Market are:
The major players of wireless connectivity market are Qualcomm (US), Intel (US), Broadcom (US), MediaTek (Taiwan), and STMicroelectronics (Switzerland), Texas Instruments (US), Cypress Semiconductor (US), NXP Semiconductors (Netherlands), Microchip (US), and EnOcean (Germany).
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