According to the latest report by IMARC Group, titled "Connectivity Enabling Technology Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the global connectivity enabling technology market size reached US$ 37.7 Billion in 2022. Connectivity-enabling technology allows end-users to connect to a communication network. It relies on big data, cloud computing, sensors, and analytics software to maximize opportunities and support specific networking functionality. It is an economical solution that assists in enhancing productivity and automation, increasing mobility, improving communications and safety, and developing novel products and services. It is a crucial aspect in the development of the Internet of Things (IoT) and advancements of smart devices.
Global Connectivity Enabling Technology Market Trends:
At present, the increasing demand for connectivity-enabling technology due to the rising utilization of various connected devices represents one of the primary factors propelling the growth of the market. Besides this, the growing utilization of connectivity-enabling technology, as it exhibits scalability, flexibility, security, reliability, energy efficiency, and high bandwidth, is offering a favorable market outlook. In addition, the increasing purchase of various consumer electronics is contributing to the growth of the market. Apart from this, the rising utilization of smartphones, laptops, and tablets to access the internet and connect with other individuals is supporting the growth of the market. Additionally, the increasing demand for connectivity enabling technology in the healthcare industry to connect medical devices, such as blood glucose monitors, for remote monitoring patients is strengthening the growth of the market. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 45.5 Billion by 2028, exhibiting a CAGR of 3.0% during 2023-2028.
- On the basis of the type, the market has been segmented into Bluetooth, Wi-Fi, and ZigBees. Wi-Fi represented the largest segment in the market.
- Based on the application, the market has been classified into healthcare, consumer electronics, manufacturing industry, and automotive and transportations. At present, consumer electronics hold the biggest share in the market.
- Region-wise, the market has been divided into North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. Amongst these, Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others) enjoys the leading position in the market.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of the key players 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., and Texas Instruments Incorporated.
|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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