NEW YORK, Sept. 20, 2022 (GLOBE NEWSWIRE) — According to a comprehensive research report from Market Research Future (MRFR), “Wireless Connectivity Market Research Report, By Technology, Deployment, Application, Type – Forecast To 2030.” The market is expected to thrive at a robust CAGR of around 15.2%, reaching $214.3 billion during the assessment period.
|Market size by 2030||$214.3 billion|
|Important market opportunities||The rapid progress in radio spectrum, Internet and IoT.|
|Important market drivers||The increasing demand for cloud computing and related technologies.|
|The increasing use of IoT and artificial intelligence (AI).|
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Wireless Connectivity Market Overview:
The wireless connectivity market is a rapidly growing space. The penetration of information and communication technology proves the market size. Also, increasing demand for wireless connectivity for fast data transfer and global information sharing is driving the growth of the market. The proliferation of cellular systems and wearables also underpins market demand.
Given the growing demand for cloud computing and related technologies, the market is expected to continue growing in the coming years. Market Research Future (MRFR) claims that the global wireless connectivity market is poised to reach a valuation of $214.3 billion by 2030.
Robust wireless networks and wireless connectivity solutions are essential to support digitization and industrial automation, including autonomous and remote controlled solutions to strengthen safety and productivity. Innovative wireless solutions are important for an ever-evolving connected world. The improvement of connectivity protocols, including Wi-Fi, Bluetooth, Sub-1 GHz and Zigbee, is having a positive impact on the market growth.
Many market players offer a portfolio of affordable and high-quality wireless connectivity solutions. These protocols integrate wireless functionality through innovations such as protocol standardization, helping users get started with IoT-connected projects and advanced security features. Industry leading standby power, industrial temperature support and high quality RF are used to develop connected applications.
The advent of 5G networks has expanded wireless networks and enhanced existing connectivity services. This ubiquitous technology would create massive technological disruption and connectivity for a wide range of applications. Also, wireless technology has enabled different industries to connect and increase their efficiency, performance and value.
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Digital devices are increasingly being used to improve web browsing interfaces and real-time applications, significantly increasing data usage over wireless networks. The increasing acceptance of communication platforms increases market revenues. The wireless network ecosystem offers immense benefits for personal and commercial purposes. Therefore, it is widely used to deploy and build a wireless home network.
Growing applications such as medical, smart home, asset tracking, personal electronics and more are driving market demand. Wireless connectivity technologies offer some attractive advantages such as: B. the elimination of wired solutions, Internet connectivity from anywhere in the service area and internal network of the ISP, reasonable costs compared to DSL and cable, and easy installation and maintenance.
Digital transmission of data with higher efficiency & ease associated with the process underpins the market shares. The advent of cell phones, tablets, and high-tech handheld devices connected to wireless networks is fueling the size of the wireless communications market. In addition, the growth in the number of end users promotes the market development.
On the other hand, technical issues related to connectivity and networks are the main factors that are expected to hamper the market growth. Also, the lack of expertise and infrastructure in rural areas is threatening the growth of the wireless connectivity market. Nonetheless, the growing availability of futuristic technologies would support the market growth throughout the forecast period.
Wireless Connectivity Market segments
The wireless connectivity market is segmented into types, technologies, deployments, end-user industries, and regions. The segment is divided into local area wireless networks (WLANs), WPANs (Wireless Personal Area Networks), satellites, M2M using cellular technology and others. The technology segment is divided into Bluetooth, WI-FI, Ultra Wide Band, NFC, Cellular, Zigbee and others.
The Deployment segment is divided into Controllers, Gateways, Cloud Industries and Others. The industry segment is divided into healthcare, wearables, public safety, energy, automotive, consumer electronics and other industries. The region segment is split into Americas, Asia Pacific, Europe and Rest of World.
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Wireless Connectivity Market Regional Analysis
North America dominates the global wireless connectivity market, led by the presence of large industry players such as Cisco Systems, Texas Instruments, Microchip Technology, and others. Also, rising adoption and demand for wireless connectivity solutions across major industries are driving the growth of the market. High R&D investment and advances in wireless technologies are boosting the revenue of the market.
Europe is another fast growing market for wireless connectivity solutions. Factors such as increasing purchasing power and the penetration of wearables and medical devices are increasing the market value. In addition, the rise of end-user industries such as healthcare, public safety, energy, automotive, consumer electronics and other industries are boosting market revenue. The spreading information technology justifies the market growth.
The Asia Pacific region accounts for a significant portion of the global wireless connectivity market. The presence of established market players and the increasing acceptance of connected devices and digital technologies such as smartphones, laptops and tablets influence regional market growth. Japan, Australia and South Korea have a significant share of the Asia-Pacific market.
Wireless Connectivity Market competitive landscape
The wireless connectivity market is extremely competitive and appears fragmented due to several established market players forming a competitive landscape. Industry players initiate strategies such as collaboration, mergers and acquisitions, expansion and product launches to gain competitive share. The increasing use of intelligent connected devices increases the market value.
These players rely on collaboration and partnerships with other players to create innovative solutions and reduce development costs and time. Technology providers use a variety of sales channels and are increasingly using social media to generate inbound leads.
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For example, on September 19, 2022, Epiroc, a leading global partner in productivity and sustainability for the mining and infrastructure industries, announced its plan to acquire a majority stake in Radlink, a mining wireless connectivity solutions company. Radlink supplies and integrates wireless data and voice communications networks in support of infrastructure for open pit and underground mines across Australia.
Leading players in the global wireless connectivity market include STMicroelectronics NV (Switzerland), Cisco Systems Inc (USA), Texas Instruments Inc. (USA), Microchip Technology Inc. (USA), Intel Corporation (USA), Cypress Semiconductor Corporation (USA), including NXP Semiconductors (Netherlands), QUALCOMM Inc. (USA), AT&T Inc. (USA) and Renesas Electronics Corporation (Japan).
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