Globally, the size of wireless connectivity market is expected to gain 15.2% in 2030, and the size will also surpass USD 214.3 billion by 2022 to 2030 driven by the growing demand for cloud computing and related technologies.
Wireless connectivity is a networking technology used for connection between two nodes or devices without cable, cords, and wires. It is a method in which the wires are not used for any connection. It also helps the consumers avoid and save the installation cost, which is more in the cables within the connectivity between devices and systems. The demand for wireless connectivity is increasing as wifi penetration is rising in commercial, residential, and industrial sectors. Numerous wireless technologies can be used in hardware products for IoT and machine-to-machine. The rise in adoption of IoT, cloud computing in businesses, demand for smartphones, wifi, Bluetooth and other devices are the major driving factors of the market. Covid 19 did not impact the market that much. During the pandemic, people were mostly at home and using devices for entertainment, which positively impacted the market. Several challenges which can restrain the market are the lack of raw materials to manufacture products. But the market expected lucrative growth opportunities in the forecast period.
Despite the COVID-19 pandemic, the global wireless connectivity market has a bright future. Pandemic COVID-19 has led to a worldwide indefinite lockdown and temporary quarantines in the aftermath.
Historically, the wireless connectivity market has faced several periods of challenges, most of which have been related to finding raw materials to manufacture the products and technologies required for the market. Hopefully, these challenges will be overcome once the pandemic has ended.
In the wireless connectivity market, it has primarily been radio frequency innovations, Internet technologies, and the Internet of Things that have fueled growth and development. These technologies are in high demand. Another important driver has been the growing demand for cloud computing and related technologies.
Power guzzlers are wireless sensors included in various devices powered by telecommunications technologies. Connected devices and terminals are no exception. In the global wireless connectivity market, there are no uniform standards or guidelines. Consequently, this imposes a major barrier on the wireless connectivity market.
Energy efficiency will be key in making products (wireless sensors, terminals, and connected devices). Another benefit is that this will bring down the cost and price of these devices. Consumers can benefit from these savings through lower prices.
Cumulative Growth Analysis
Global wireless connectivity market CAGR from now until December 2030 is forecast to be 15.2%. It is predicted that the market will be worth approximately 214.3 billion US Dollars by 2030.
In the wireless connectivity market, 5G technology is expected to be used in future products. It is the delivery of Internet and Internet of Things (IoT) services directly to people through new technologies. With these products and services, there will be no need for cables or wires.
The purpose of wireless connectivity products and services (as stated earlier) is to connect networks, enterprises, and homes to the Internet and other related services without the use of complicated and bulky wires and cables. There are many other types of technology as well, such as Bluetooth, WI-FI, ultra-wideband, NFC, cellular, Zigbee, and many more.
Wireless technologies are used by control devices, gateways, cloud industries, etc.
Wireless technologies are used in the following industries:
For wireless connectivity technology, Asia-Pacific holds the largest market share. This region is dominated by Japan, India, China, and South Korea. India and China have both experienced rapid economic growth in recent years and are the primary drivers behind the growth in the Asia-Pacific region.
The demand for smartphones and other mobile and electronic devices is increasing as purchasing power and discretionary income increase.
Smart cities have been implemented by the governments of India and China. The growth of these cities will spur the demand for wireless connectivity technology.
In the North American region, wireless connectivity is expected to grow the fastest. Major telecoms and technology companies dominate the wireless connectivity market. These include Microchip Technology, Qualcomm, and Cisco Systems Inc.
The Canadian market is also seeing growth and demand due to the increasing use of the internet of things (IoT) and artificial intelligence (AI).
There is fierce competition in the wireless connectivity market. Major players and minor players are heavily concentrated in the wireless connectivity market. New players have recently entered the market. CAGRs and revenues are expected to be relatively high in the wireless connectivity market. Retrenching takes place via new product launches, joint ventures, and mergers and acquisitions.
April 2022WEST LAFAYETTE, Ind, Purdue University’s Board of Trustees, on April 8th, 2022, approved a new five-year contract to upgrade wireless access across its three campuses.SpaceX CEO Musk has been in talks with multiple airlines for months regarding the in-flight wifi technology as it is trying to put high-speed internet on commercial airlines.Toyota and Maruti Suzuki JV are working on multiple new SUVs for the Indian market. The JV is all set to launch the new midsize SUV before this year.OnePlus Buds N has been launched with a 12.4mm driver setup and Bluetooth v5.2 for wireless connectivity.
Wireless connectivity market growth can be attributed to the increased popularity of smartphones and IoT products. Among all regions, Asia-Pacific accounts for the highest market share. Nonetheless, North America will continue to experience the highest growth rates until the end of 2030.
|Market Size||USD 214.3 Billion|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Technology, Deployment, By Application, Type|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Cisco Systems Inc (US), STMicroelectronics NV (Switzerland), Texas Instruments Inc. (US), Intel Corporation (US), Microchip Technology Inc. (US), NXP Semiconductors (Netherlands), AT&T Inc. (US), QUALCOMM Inc. (US), Cypress Semiconductor Corporation (US), and Renesas Electronics Corporation (Japan)|
|Key Market Opportunities||The fast progress in radio frequencies, internet, and IoT.|
|Key Market Drivers||
It’s expected to grow from 45.21 billion in US Dollars in 2021 to 214.3 Billion in US Dollars by the end of 2030.
People are using IoT and are installing connected devices more often. This will drive growth and generate revenue for the industry.
WLAN, GNSS, WPAN, and cellular M2M are segmenting the market by type.
Bluetooth, Wi-Fi. Ultra-wideband, GPS, NFC, Zigbee cellular, etc...