Wireless Connectivity Market was valued at US$ 46.1 Bn in 2018 and is expected to reach US$ 127.9 Bn by 2027 with a CAGR growth rate of 12.5% in the forecast period from 2019 to 2027.
The density of consumer electronics devices in the region is quite high. Smartphones, tablets, Personal Computers, music players, DVD players, Television sets, washing machines, and other home-based electronic devices have found a broader user base in North America. Thus, penetration of connected and smart devices is also very high in the North America region. Automobile ownership is quite widespread in the North American continent with more than 90% of households in the U.S. and 80% of households in Canada owning at least one vehicle. The high density of automobile sector and adoption of AT and IoT in autonomous vehicles is anticipated to boost the demand for wireless connectivity technologies.
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Top Dominating Key Players:
- Broadcom Inc.
- Cypress Semiconductor Corporation
- Intel Corporation
- MediaTek Inc.
- Microchip Technology Incorporated
- NXP Semiconductors N.V
- Panasonic Corporation
- Qualcomm Incorporated
- STMicroelectronics N.V.
- Texas Instruments Incorporated
Consumer segment led the Wireless Connectivity Market in 2018, and it is expected to continue its dominance during the forecast period
In the current scenario, various consumer devices are used by consumers for a plethora of tasks. Consumer devices such as smartphones, tablets, PCs, TVs, washing machines, fridge, music players, etc. have become an integral part of consumers’ lives. All these devices are becoming smarter with the ongoing technological advancements and integration of IoT and AI. The market for consumer devices is continuously growing, owing to the fact that manufacturers are regularly coming up with advanced technologies and features in their devices and disposable income of consumers is also rising.
Market initiatives by the players propelling the growth of Wireless Connectivity Market
In the global wireless connectivity market, new market initiative is a strategy adopted by various companies to expand their footprint across the world and meet the growing demand of customers. The market players present in the wireless connectivity market are mainly focusing on product enhancements by implementing advanced technologies. By signing partnership, contracts, joint ventures, and funding, companies are expanding their footprint in the wireless connectivity market. Most of the wireless connectivity market initiatives were observed in Asia Pacific, North America, and Europe regions, which have high adoption rate of advanced technologies such as IoT and AI.
Segment by Technology Type Insights
The global wireless connectivity market is segmented on the basis of technology into Wi-Fi, Bluetooth, cellular, Zigbee, GNSS, and others. The other wireless connectivity technologies include Li-Fi, LoRaWAN, NFC, Wi-Max, EnOcean, and Z-Wave among others. The growing importance of wireless communication technologies and more prominently the IoT, practically all electronic systems have the demand for wireless connectivity. With the increasing number of devices demanding to get connected over the internet, it is almost impossible to have a wired connection for every device. Further by 2020, it has been estimated that the number of devices over the internet would exceed the human population. These factors have generated tremendous demand for wireless connectivity technologies to remove the hassles associated with wired communication systems and thus contributing to the growth of wireless connectivity market.
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Reasons to Buy the Report:
- Learn about the driving factors, affecting the market growth.
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- Pick up on the leading market players within the market.
- Envision the restrictions and restrains that are likely to hamper the market.
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