ID: MRFR/ICT/0642-HCR | February 2021 | Region: Global | 100 pages
Owing to the growth and the need for advanced modules in the current ways of communication, the next generation wireless community is gaining popularity. It is an option that helps in eliminating the traditional ways related to deploying the systems having different wires and systems. With the global shift to opting for the next generation wireless communication market, it is very easy and viable for the customers to exchange messages and data with accuracy. The speed is high and the time for conducting the exchange is quite less.
The next generation wireless communication market analysis shows that there is an increased demand for the same with respect to the sensor networks. This has a direct connection with infrastructure development, good access to the penetrated rate of the internet, as well as, widescale adoption of drivers like the internet of things (IoT). The next-generation wireless communication is expected to grow at a CAGR of 15.4% by the end of the forecast period of 2027.
COVID 19 Analysis
The pandemic year of 2020 and the imposition of a worldwide lockdown adversely affected lives, production, businesses, and industries. The coronavirus pandemic was solely responsible for bringing lifestyle, as well as, changing the ways of working. With the major key players in the world shifting towards the concept of work from home, there was a boost in the requirement of next-generation wireless communication services. A stable connection, high speed to support the working, virtual learning platforms, and much more, are stimulating the wireless communication market growth during and post the COVID era, too.
The wireless sensors and terminals, along with the widespread need for a wireless communication market witnessed increasing demands during the corona period also. Hence, with major businesses struggling with production, the next-generation wireless communication industry still was producing and catering to the needs on a much larger scale.
The next-generation wireless communication is helping people staying connected through a virtual mode. The next generation wireless communication market dynamics are stated as:
There is a demand for wireless sensory networks. There is a push for the development of the wide infrastructure, internet rate, adoption of various technologies, and much more. However, there is an increase in power consumption that sparks various environmental issues. Also, the terminals result in a lack of communication standards that are much standardized and uniform in nature. This is a major restraint.
The prominent changes in the market size of the connectivity services and the increased demand on the global scale are inviting many opportunities. Big network companies are looking for investment opportunities and are widening their scope by operating for virtual training and learning. Also, the emergence of a stable internet and data services during the pandemic as a necessity has filed for collaborations and mergers for product development and launching, globally. The 5G development technology is another added advantage.
The increased use of the internet and publically available wi-fi connections is giving momentum to many hidden risks. Some of them include the theft of identity, jamming along hacking.
The next generation wireless communication market size is increasing day by day and this is leading to a great quantum of data generation. Many attempts are being made by different hackers to find a place in the IoT network, thus harming and disturbing the security concerns.
Value chain analysis
The growth of mobile technologies like LTE, as well as, 5G, are evolving today and in the future. There is a high need for wireless technologies, more energy, as well as, more spectrum in the market. With the increasing market size, the devices of digitally advanced workplaces are receiving high-speed connectivity and accessible data. Also, the 3G and 4G services are expanding their applications along with 5G service developments amongst the leading service providers. All these are both beneficial for the industries and the customers in terms of accessibility, reliability, wide adoption of smart devices to make use of wireless services, global expansion, dynamicity in the broadband industry, fast-growing technologies for smartphones, digital advancements, explosive growth, and much more.
The next generation wireless communication market analysis shows that the communication market has various segments. The market has its division under heads like connectivity technology, geographical location, type, as well as, the end-users of the wireless services.
Based on technology, there are many options prevalent in the market. They are wi-fi, NFC, GNSS, UWB, SigFox, ZigBee, LoRa, NB-IoT, Thread, Z-Wave, Bluetooth classic, 4X, as well as 5x, LTE CATM1, weightless, Telensa, Wireless highway addressable remote transducer protocol that is common as wireless HART, and much more. These connections are chosen by the end-user as per their need and convenience.
Based on the market type, the industry has WLAN, Cellular M2M, Satellite, LPWAN, WPAN, etc. These are also specific to the need and requirements of any customer seeking wireless communication services.
The end-users of the next-generation wireless communication industry are the devices that make use of such services. These can be categorized as the healthcare sector, building automation, transportation, agriculture, wearable devices, aerospace, automotive, defense, retail sectors, industrial sector, and related ones. Also, consumer electronics like smartphones, laptops, tablets, routers, and much more, can be categorized as the end-users of the industry.
North America is home to various technological advancements due to which it is a dominant force in the wireless communication trends in the current scenario. Developed countries are setting an example for the best use of the available technology. Followed by the North American countries in Europe. The European nations are leading their way to innovation in their product development and launching. This is generating a great demand on a global scale. Also, they are undergoing joint ventures with companies to hike the services available and take the game of wireless communication to the next level.
By the end of the forecast period of 2027, it is expected that the Asian nations are going to take a lead, globally. They are laying their focus on considering factors for innovation and expansion in the coming time.
The next generation wireless communication market industry has competition prevailing from all around the globe. With the free entry of firms in the market, the innovation in the competition is subsequently growing.
The key players are -
AT&T of the North American region is making huge investments to elaborate its presence on the global level. APAC is having a very large base of customers and is widely adopting digital technologies. Also, there is a significant and healthy growth of IoT in connection with the similar. The M2M connections are also increasing with each passing year.
AT&T is a North American Company that has made investments of more than US $1.3 billion in the wireless communication size. Also, Huawei, as well as Cable & Wireless Communications, announced the successful conduction of a trial related to the broadband speed of 500 Mbps. In April 2020, there were 2 major collaborations. Infineon Technologies with Cypress Semiconductor corporation and NXP semiconductors with Murata. These were regarding the developments of the 5G mobile service platforms and laying the focus on structural growth processes for the future.
The need for the industrial revolution is very high when it comes to the next generation wireless communication market. These connectivity products and technologies have a good run when it comes to opportunities related to the improvement of the living standards and brings a good degree of revolutionization. Also, this industry is witnessing good investment interests from the government post the COVID 19 era, for the developments, as well as, modernizations. There is an increased rate of the requirement for the internet and IoT services, as discussed in the report.
However, certain restraints and challenges are owing to the increasing risks related to security and data protection. However, if specific steps are taken, the market will result in achieving the CAGR growth by the end of the forecast period of 2027.
|Market Size||2027: Significant Value|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Technology, Application|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||ZTE Corporation (China),AT&T (US),Huawei (China),Intel Corporations (US),Cisco Systems (US),Qualcomm (US),IBM Corporations (US),NEC (Japan)|
|Key Market Opportunities||prominent changes in the market size of the connectivity services and the increased demand on the global scale|
|Key Market Drivers||Increasing Adoption of Consumer Electronics|
Frequently Asked Questions (FAQ) :
The primary factor which is driving the growth of the next-generation wireless communications market is its increasing adoption in consumer electronics.
The global market for next-generation wireless communication has been segmented based on the technology, and the application.
The wireless LAN segment and WiFi segments are expected to witness substantial growth over the review period.
The consumer electronics and telecommunication segments are expected to drive the market over the review period.
North America is leading the global next generation wireless communications market and is projected to uphold the momentum over the review period. the Middle East & Africa and the Asia Pacific regions are also anticipated to witness the fastest growth during the forecast period.
The global next-generation wireless communication market is categorized based on technology and application.
The WiFi segment and the wireless LAN segment are the two most prominent leading type segment in the global next-generation wireless communication market.