According to the latest report by IMARC Group, titled "Wireless Connectivity Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the global wireless connectivity market size reached US$ 107.5 Billion in 2022. Wireless connectivity allows the transmission of data and communication without wires. It involves the utilization of radio frequencies to enable all types of data to be communicated over short and long distances without the need for a physical wire. It is mainly used by various end-user sectors for addressing critical connectivity issues in order to enhance daily operational requirements. Due to its several advantages, such as a provide flexibility and convenience while installing and cost-effective solution that helps to update the networks to meet new configurations, access information and reduces the utilization of wires that are cumbersome to set up and impose safety threats, the demand for wireless connectivity is increasing across the globe.
Global Wireless Connectivity Market Trends:
The global market is primarily driven by the rising adoption of consumer electronics among the masses. Along with this, the advent of numerous advanced technologies, including the internet of things (IoT), artificial intelligence (AI), virtual reality (VR) and augmented reality (AR) are majorly driving the demand for wireless connectivity across the globe. Apart from this, the growing reliance on reliable, resilient and secure networks across multiple end-user industry verticals is creating a positive market outlook. This has encouraged public and private agencies to heavily invest in the improvement of network infrastructure, which, in turn, is catalyzing the demand for wireless connectivity on the global level. Furthermore, the widespread adoption of data analytics across the healthcare industry is acting as a growth-inducing factor. With the emergence of fifth-generation (5G) cellular networks, the need for WiFi in commercial and residential areas has rapidly increased, thereby propelling the wireless connectivity market. Some of the other factors driving the market include rapid digitization and urbanization and extensive research and development (R&D) activities. On account of the aforementioned factors, the market size is anticipated to reach a value of US$ 233.5 Billion by 2027, exhibiting a CAGR of 12.60% during 2023-2028.
- On the basis of the technology, the market has been segmented into Bluetooth, Wi-Fi, ultra-wide band, NFC, cellular, zigbee, GPS and others.
- Based on the network type, the market has been classified into wireless wide area network (WWAN), wireless personal area network (WPAN) and wireless local area network (WLAN).
- On the basis of the end user, the market has been segregated into automotive and transportation, building automation, consumer electronics and wearables, energy and utilities, healthcare, industrial, IT and telecom and others.
- Based on the region, 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.
- 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., Infineon Technologies AG, Intel Corporation, MediaTek Inc., Microchip Technology Inc., Nordic Semiconductor, NXP Semiconductors N.V., Panasonic Holdings Corporation, STMicroelectronics N.V. and Texas Instruments Incorporated.
|Base Year of the Analysis
||Technology, Network Type, End User, Region
|| 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., Infineon Technologies AG, Intel Corporation, MediaTek Inc., Microchip Technology Inc., Nordic Semiconductor, NXP Semiconductors N.V., Panasonic Holdings Corporation, STMicroelectronics N.V. and Texas Instruments Incorporated.
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