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At 12.6% CAGR, Wireless Connectivity Technology Market Projected to Hit $128.47 Billion By 2026 | Business Statistics, Growth Factors and Revenue

03-26-2020 06:00 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: Allied Market Research

Wireless Connectivity Technology Market

Wireless Connectivity Technology Market

According to a recent report published by Allied Market Research, titled, "Wireless Connectivity Technology Market By Technology (Wi-Fi, Bluetooth, ZigBee, NFC, Cellular Technology, and Others), and Application (Consumer Electronics, Automotive & Transportation, Healthcare, Aerospace & Defense, IT & Telecom, and Others): Global Opportunity Analysis and Industry Forecast, 2019-2026", the global wireless connectivity technology market size was valued at $52.78 billion in 2019, and is projected to reach $128.47 billion by 2026, growing at a CAGR of 12.6% from 2019 to 2026.

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The development of metropolitan cities into smart cities round the world demands inter connectivity of human and material resources. The connectivity has witnessed transformation from wired connections to wireless connections. Further, the advancement of wireless connections has increased data transfer rate which is expected to drive the growth of wireless connectivity technology market, owing to wide applications of wireless networks in smart infrastructures.

For instance, in the U.S. average commuter spends about 42 hours of a year stuck in traffic, which is higher in mega cities such as in Los Angeles or New York. Wherein, smart cities connected traffic lights can analyze traffic patterns and adjust in real-time to reduce congestion and delays.

The use of AI assistance in various sectors such as residential, commercial and industrial, has increased over the recent years. The use of autonomous wearable devices assists users to provide ease and convenience for task accomplishment. The AI encrypted compact devices use wireless networks for hyper connectivity.

For instance, smart wrist watches from Samsung, Gear s2/s3 which is incorporated with home assistant UI and uses wireless networks, built-in Bluetooth 4.1 and 802.11 b/g/n Wi-Fi. Therefore, the use of such intelligent wearables makes daily activity easy for consumers which increases the wireless connectivity technology market demand.

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Bluetooth is used in smart lighting infrastructure as wireless connectivity technology. This wireless technology inter-links devices and provide users with remote access. For instance, smart LED bulb by Svarochi provides users with Bluetooth connectivity, which helps them to remotely access the device to control illumination, hue of lights, and other features.

Further, the advancement of Bluetooth technology is used to create proficient wireless connectivity. For instance, the SSL industry has built support around the open Bluetooth Mesh standard. Mesh technology has recently gained momentum due to its open connectivity nature and is extensible to cover a variety of lighting installations.

The rise in investment in research and development on wearable devices is lucrative to create wireless connectivity technology market trends. For instance, hearables, or wireless in-ear computational earpieces are an example of intelligence IoT integrated amplification devices that have been adopted recently and rapidly. An example is Apple's AirPods, which are smart earbuds that connect to Apple devices and integrate with Siri via voice commands.

Similarly, Google's Pixel Buds give users direct access to the Google Assistant which is connected over wireless connectivity, Bluetooth. Google Assistant seamlessly connects users to information stored in Google platforms, such as email, calendar management among others. Therefore, the advancements of devices is expected to create wireless connectivity technology market opportunity.

North America is one of the key contributor to the advancement in technologies, innovations, and investments in wireless connectivity industry in the region increases the market demand. Owing to this fact, North America is the highest revenue contributor worldwide. The growth of the wireless connectivity market in North America is attributed to increase in adoption of portable technologies under various applications in the region. In addition, rise in adoption of smartphones and smart wearables coupled with increased investment in the government also boost the wireless connectivity technology market growth.

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Key Findings of the Study:
1. Based on technology, the Wi-Fi segment generated the highest revenue in the global wireless connectivity technology market in 2019.
2. Based on application, the consumer electronics segment generated the highest revenue in the wireless connectivity technology market share in 2019.

The wireless connectivity market leaders profiled in the report include Qualcomm Incorporated, Intel Corporation, NXP Semiconductors N.V., Texas Instruments Inc., Stmicroelectronics N.V., Cypress Semiconductor Corporation, Panasonic Corporation, Nexcom International, Atmel Corporation and Mediatek Inc. These key players adopt several strategies, such as new product launch and development, acquisition, partnership & collaboration, and business expansion to increase the wireless connectivity market share during the forecast period.

Chapter 1: Introduction
Chapter 2: Executive Summary
Chapter 3: Market Overview
Chapter 4: Wireless Connectivity Market, By Technology
Chapter 5: Wireless Connectivity Market, By Application
Chapter 6: Wireless Connectivity Market, By Region
Chapter 7: Competitive Landscape
Chapter 8: Company Profile

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About Us:
Allied Market Research (AMR) is a full-service market research and business consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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