Impact of COVID-19 on the Global Next-Generation Wireless Communication Market
The Global Next-Generation Wireless Communication Market has been impacted both positively and negatively in recent months due to the outbreak of COVID-19 in December 2019. The pandemic has resulted in numerous countries imposing lockdowns and shutting down businesses except for essential services (allowed with minimal workforce). Other businesses have been directed to practice work-from-home, which has resulted in a mixed demand for next-generation wireless communication, including wireless LAN, digital TV broadcasting, WiMAX, 3G, 4G LTE, 5G, Wi-Fi, and Bluetooth. Next-generation wireless communication is an advanced module of current communication. Wireless communication provides an option to eliminate the traditional deployment system where wires and multiple systems were required. Next-generation wireless communication can help to exchange data at very high speeds and reduce the time of data exchange. WLAN or wireless local area network is a type of network which allows one or more devices to connect using a wireless distribution method. In the 21st century, WLAN has found wide applications and is currently used in every possible industry which runs or uses IT products or services. A recent increase in the number of connected devices like mobile computing devices (smartphones, tablets, and PCs), media players (smart set-top boxes and smart TVs), wearables (smartwatches, smart bands, and smart glasses), and smart home appliances is expected to boost the market growth during the forecast period. The global next-generation wireless communication market caters to a wide range of applications in sectors such as BFSI, healthcare, IT, retail, and government.
The global next-generation wireless communication market has declined moderately in recent months owing to the temporary shutting down of businesses. However, the demand for consumer wireless equipment has witnessed a positive impact. One of the key drivers of the market is continuous technological advancement. For instance, the introduction of the new Wi-Fi 6 standard (also called 802.11ax) has created a positive impact on the market, though the market is still dominated by previous generation standard, 802.11ac. The Middle East & Africa and North America regions witnessed a positive impact on the next-generation wireless communication market in the last few months. Europe’s next-generation wireless communication market experienced a mixed impact with Russia and Poland growing positively and the UK, Germany, and France declining in recent months. The Asia-Pacific market has been significantly impacted owing to the decline witnessed in numerous countries, including China, India, Japan, and Australia. The next-generation wireless communication market is anticipated to recover in the coming months as several countries have started lifting the lockdowns in a phased manner.