The wireless connectivity market is estimated to reach USD 199.3 billion by 2027, growing at a CAGR of 12.8% from 2022 to 2027. The rising demand for connected devices with the emergence of 5G technology for automation and supply chain optimization is expected to fuel the market demand.
With the ever-growing competitive environment, businesses are expanding their operations into new geographic locations and are also focusing on reducing operational expenses, improving efficiency, and increasing profits. Manufacturers are also adopting Internet of Things (IoT) technology as it allows for a new way of optimizing manufacturing by connecting machines. Most of these devices are not just conventional PCs or smartphones, this growing web of interconnected devices includes home appliances, security systems, smart thermostats, smart meters, portable medical devices, health and fitness trackers, smartwatches, and many other mobile products. They would be compact in size and low in cost, and a few of these devices would operate and communicate autonomously. Connected devices are electronic devices connected or networks through various communication protocols, such as NFC, Wi-Fi, RFID, and Bluetooth.
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Bluetooth 5X segment is gaining traction in IoT applications. It witnesses extensive adoption in smart home beacons, connected homes, and wearable applications. It has resulted in a new ecosystem that provides various operational benefits, including automatic system integration, asset tracking, and worker safety. Bluetooth-enabled solutions are already being used in facilities worldwide, from manufacturing to healthcare verticals, to support various accurate, cost-effective location-based services. For instance, Dyer Engineering, a UK metal component manufacturer, manages over 10,000 operations in ten buildings spread across two sites three miles apart. Dyer Engineering’s staff can save time and effort searching for materials and equipment using a Bluetooth-connected Quuppa asset tracking system. According to Dyer Engineering, this process improvement saved up to USD 12,000 per month.
The WPAN segment is projected to create abundant opportunities in the market from 2022 to 2027 and is projected to grow at a healthy CAGR. The wireless personal area network connectivity technology is based on the IEEE 802.15.4 standard. WPAN is a small-area and low-bandwidth networking technology that permits communication within a very short range, which is around 10 meters. Technologies supporting WPAN include Bluetooth, ultra-wideband (UWB), ZigBee, Z-Wave, NFC, and Thread. Of these, Bluetooth 5X and NFC are the major contributors in the WPAN segment.
Asia Pacific region is estimated to create largest market opportunity in the wireless connectivity market during the forecast period. The growing demand for chipsets in consumer electronics, wearables, industrial automation solutions, and smart city projects is driving the growth of the wireless connectivity market in Asia Pacific.
The global Wireless Connectivity Market research report, published by Value Market Research, is designed to offer various market framework such as market size, portion, trends, growth path, value and factors that impact the current market dynamics over the forecast period 2021-2027.
Most importantly, this report also provides the latest significant strategies adopted by major players along with their market share.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the Wireless Connectivity market include Qualcomm, Intel, Broadcom, MediaTek, Texas Instruments, Cypress Semiconductor, NXP Semiconductors, STMicroelectronics, Microchip, EnOcean, NEXCOM, Skyworks Solutions, Murata Manufacturing, Marvell Technology, Quantenna Communications, Renesas Electronics, Nordic Semiconductor, CEVA, Espressif Systems and Peraso Technologies.
This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers& acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Wireless Connectivity Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/wireless-connectivity-market/download-sampleMarket DynamicsGrowing trends in process optimization, home automation, and lifestyle improvement and increased requirement of smart infrastructure are giving rise to the wireless connectivity market.
The need for the real-time results and the demand for the connected devices are majorly fueling the wireless connectivity market.
The telecom industry and the consumer electronics market are growing rapidly which in turn is mounting the demand for the wireless connectivity market.
The report "Wireless Connectivity Market by Connectivity Technology (Wi-Fi, Bluetooth, NFC, ZigBee, GNSS, LTE CAT-M1, NB-IoT, LoRa, SigFox), Type (WLAN, WPAN, LPWAN), End-use (Wearables, Consumer Electronics, Healthcare), and Region - Global Forecast to 2025", size is estimated to grow from USD 69.0 billion in 2020 to USD 141.1 billion by 2025, at a CAGR of 15.4%.
Major driving factors for the Wireless Connectivity industry are the increased demand for wireless sensor networks in the development of smart infrastructure, a significant increase in the internet penetration rate, growth in adoption of the Internet of things (IoT), increasing trends like work from home and virtual learning pertaining to the COVID-19 pandemic, increased demand for low-power wide-area (LPWA) networks in the IoT applications.
Devices can also communicate over distances of up to 800 feet (or 240 meters), which is four times the 200 feet (or 60 meters) allowed by Bluetooth 4.2.Bluetooth 5.0 is gaining traction in IoT applications.
Due to an increase in the penetration of the Internet in developing Asian countries, paired with the changing lifestyle of consumers, the uptake of smart home devices has increased in the region.
Disruptions caused by the high network congestion over the 5 GHz frequency band results in lower data throughput, increased power consumption, and a higher degree of latency owing to repetitive requests for retransmits that keep Wi-Fi devices in higher power transmit modes for a longer duration.
The Chinese government is committed to developing this concept and has already invested more than USD 10 billion in the IoT and related technologies since October 2010.
The information or the data are transferred in the form of data packets with the help of technology like Bluetooth, radio frequencies, internet and others.
Therefore, growing demand of internet of thing (IoT) and increasing demand of cloud computing are some of the key driving factors for the growth of this market.The increasing demand of wearable device applications is also adding fuel to the Wireless Connectivity Market.
Whereas, the major shift from 3G to 4G connectivity is also expected to drive the wireless connectivity market globally.
Various telecom companies have come up with solution such as NB-IoT which are considered as one the optimum enterprise solution.
These solution benefits the enterprises by lowering the operating consumption cost.The global wireless connectivity market is expected to grow from USD14.5 Billion in 2016 to USD 30.4 Billion by 2022, at an estimated CAGR of 10.9%.
The growth of this market can be constrained by the factors such as the security issues faced by the customers for protection of data and lack of uniform communication protocol.
