The global connectivity enabling technology market size reached US$ 38.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 49.4 Billion by 2032, exhibiting a growth rate (CAGR) of 2.62% during 2024-2032. The increasing demand for connected devices, growing digitization, and extensive research and development (R&D) activities represent some of the key factors driving the market.
Market Size in 2023
|US$ 38.9 Billion
Market Forecast in 2032
|US$ 49.4 Billion
|Market Growth Rate 2024-2032
Connectivity enabling technology refers to various technologies and services that allow end-users to connect to a communication network. It comprises various components and technologies that work together to enable connectivity between devices, networks, and systems. It includes network infrastructure, wireless technologies, network virtualization and software-defined networking (SDN), and cloud computing. Connectivity enabling technology is a cost-effective solution and assists in increasing productivity and automation, enhancing mobility, improving communications, increasing safety, and developing new products and services. It exhibits scalability, flexibility, security, reliability, energy efficiency, low latency, and high bandwidth. As a result, connectivity enabling technology finds extensive applications across the telecommunication, healthcare, and consumer electronics industries.
Connectivity Enabling Technology Market Trends:
The increasing demand for connected devices across the globe is one of the key factors driving the market growth. Connectivity enabling technology includes technologies, such as Wi-Fi, Bluetooth, cellular networks, and Zigbee, which allows devices to connect to the internet and each other. In line with this, the widespread utilization of the technology that helps in the use of a wide range of connected devices, including smartphones, smart home devices, wearables, and industrial internet of things (IoT) devices, is favoring the market growth. Moreover, the increasing digitization across various industries that enable the connection of digital devices, machines, and systems to the internet, thus allowing them to share data and communicate with each other, is propelling the market growth. Apart from this, the escalating demand for connectivity enabling technology in the healthcare industry to connect medical devices, such as blood glucose monitors, to the internet, allowing for remote monitoring of patients and sharing patient data with healthcare providers, is providing an impetus to the market growth. Furthermore, the increasing need for automation and remote monitoring in various industries is acting as another growth-inducing factor. Additionally, the rising popularity of smart home devices, wearables, and other connected devices is positively influencing the market growth. Other factors, including increasing adoption of cloud computing and big data analytics, extensive research and development (R&D) activities, the rising need for security and data protection in connected devices and networks, various advancements in technology, and the implementation of various government initiatives to improve infrastructure and increase connectivity in rural areas are anticipated to drive the market further toward growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the global connectivity enabling technology market, along with forecasts at the global, regional, and country level from 2024-2032. Our report has categorized the market based on type and application.
A detailed breakup and analysis of the connectivity enabling technology market based on the type has also been provided in the report. This includes Bluetooth, Wi-Fi, and ZigBee. According to the report, Wi-Fi accounted for the largest market share.
- Consumer Electronics
- Manufacturing Industry
- Automotive and Transportations
The report has provided a detailed breakup and analysis of the connectivity enabling technology market based on the application. This includes healthcare, consumer electronics, manufacturing, and automotive and transportations industry. According to the report, consumer electronics represented the largest segment.
- North America
- United Kingdom
- Asia Pacific
- South Korea
- Latin America
- Middle East and Africa
The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Asia Pacific was the largest market for connectivity enabling technology. Some of the factors driving the Asia Pacific connectivity enabling technology market included widespread digitization, extensive research and development (R&D) activities, and significant technological advancements.
The report has also provided a comprehensive analysis of the competitive landscape in the global connectivity enabling technology market. Detailed profiles of all major companies have also been provided. Some of the companies covered include Broadcom Inc., LM Technologies Ltd, Marvell Technology Inc, MediaTek Inc., Newracom, NXP Semiconductors N.V, Qualcomm, Renesas Electronics Corporation, Silicon Laboratories Inc., STMicroelectronics N.V., Texas Instruments Incorporated, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
|Base Year of the Analysis
||Bluetooth, Wi-Fi, ZigBees
||Healthcare, Consumer Electronics, Manufacturing Industry, Automotive and Transportations
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Broadcom Inc., LM Technologies Ltd, Marvell Technology Inc, MediaTek Inc., Newracom, NXP Semiconductors N.V, Qualcomm, Renesas Electronics Corporation, Silicon Laboratories Inc., STMicroelectronics N.V., Texas Instruments Incorporated, etc.
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Key Questions Answered in This Report:
- How has the global connectivity enabling technology market performed so far, and how will it perform in the coming years?
- What are the drivers, restraints, and opportunities in the global connectivity enabling technology market?
- What is the impact of each driver, restraint, and opportunity on the global connectivity enabling technology market?
- What are the key regional markets?
- Which countries represent the most attractive connectivity enabling technology market?
- What is the breakup of the market based on the type?
- Which is the most attractive type in the connectivity enabling technology market?
- What is the breakup of the market based on the application?
- Which is the most attractive application in the connectivity enabling technology market?
- What is the competitive structure of the global connectivity enabling technology market?
- Who are the key players/companies in the global connectivity enabling technology market?
Key Benefits for Stakeholders:
- IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the connectivity enabling technology market from 2018-2032.
- The research study provides the latest information on the market drivers, challenges, and opportunities in the global connectivity enabling technology market.
- The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
- Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the connectivity enabling technology industry and its attractiveness.
- Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.