Wireless Connectivity Market Analysis

A wireless connection is a type of data transfer that occurs over the air and does not require the use of wires. In 2020, the wireless connectivity market is valued US$72.6 million, and it is anticipated to be around US$ 174.8 million by 2027. Over the forecast period, the market is expected to grow at a CAGR of 13.4%. Rising consumer electronics device demand will drive market growth, and adoption of emerging technologies such as AI, IoT, AR, and VR is expected to remain strong across a wide range of end-user industrial verticals. Furthermore, the global expansion of smart infrastructure is a major driver of increased demand for wireless sensor networks, propelling the wireless connection market.

Interesting Facts of Wireless Connectivity Market

• As sensor manufacturers focus more on improving wireless sensing technology, wireless sensors are expected to gain more attraction
• APAC will have the highest proportion of the wireless connection sector, and digital technologies used in this area have a greater potential for change
• The consumer electronics industry is constantly evolving due to the introduction of new goods that are equipped with a variety of communication technologies
• WPAN is expected to have the largest market share in wireless connections
• China will have the largest share of the APAC Wireless Connectivity market due to strong adoption of the Internet of Things platform as a result of the government's financial and strategic commitment in R&D of IoT-related technologies

COVID-19 Impact of Wireless Connectivity Market

The efforts made around the world to stop the spread of COVID-19 have been outstanding, resulting in enormous economic losses. Policymakers are divided over whether to prioritise people's lives or the economy. The world economy is collapsing as a result of the COVID-19 outbreak, which has caused the price of every commodity to plummet dramatically. COVID-19 has a significant impact on all end-use industries, influencing raw material availability, reshaping the electronics value chain, and increasing the risk of product inflation. Positively, the disruption has increased focus on analysing and de-risking the entire value chain. Because of the pandemic, there is a greater demand for wireless technology that allows people to connect electronically.

Major Chunk of Revenue to Stream from Asia Pacific

The Asia-Pacific market for wireless communication systems is expected to grow the fastest. This trend is expected to be led by major countries such as China and India. China has the most smart city pilot programmes in the world, with over 500 efforts involving both large and small towns. The Chinese government anticipates a total of USD 74 billion in public and private investment in their cities by 2020. Smart infrastructure development is expected to open up new opportunities for wireless communication technology.

Research & Development is Key to Success in the Global Wireless Connectivity Market

Some of the major competitors in the global wireless connectivity market include Texas Instruments Incorporated, Stmicroelectronics N.V., Renesas Electronics Corporation, Qualcomm Incorporated, Nxp Semiconductors N.V., Microchip Technology Inc., Mediatek Inc., Intel Corporation, Cypress Semiconductor Corporation, Broadcom. The industry is extremely dynamic, with increasing technology and end-user demands driving innovation. The following are some recent market developments: Cisco announced Wi-Fi 6 in April 2021. When compared to the previous generation application, it significantly reduces latency. It also has 400% more capacity, making it ideal for high-density environments such as lecture halls, stadiums, and conference rooms. Emerson and Cisco announced the development of a next-generation industrial wireless networking solution in September 2019, with the goal of improving plant efficiency, reliability, and safety while changing data management.

Frequently asked questions about global wireless connectivity market