Wireless Connectivity Market Analysis and Forecast 2027 | Key players Broadcom, MediaTek, Microchip Technology

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.

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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 key companies operating in the field of wireless connectivity market that are profiled in the report include Broadcom, Inc., Cypress Semiconductor Corporation, Intel Corporation, MediaTek Inc., Microchip Technology Incorporated, NXP Semiconductors N.V, Panasonic Corporation, Qualcomm Incorporated, STMicroelectronics N.V., and Texas instruments incorporated among others.

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. 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.

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. Despite the factors restraining the market growth.

The surge in the number of connected devices as a result of IoT integration and also the accompanying influx of vast amounts of data post the advent of big data is projected to generate substantial demand opportunities for wireless connectivity technology implementations during the forecast period.

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The report segments the global wireless connectivity market as follows:

Global Wireless Connectivity Market – By Technology

Wi-Fi
Bluetooth
Cellular
Zigbee
GNSS
Others
Global Wireless Connectivity Market – By End-Use

Industrial
Construction & Infrastructure
Energy & Utilities
Automotive & Transportation
Healthcare
Consumer

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This release was published on openPR.