Wireless Connectivity Technology Market Size to reach $150.38 Billion by 2027 | Valuates Reports

The global wireless connectivity technology market size was valued at $53.17 billion in 2019, and is expected to reach $150.38 billion by 2027, growing at a CAGR of 13.0% from 2020 to 2027.

Wireless connectivity is a networking technology that offers the transfer of data and power from one computing device to the other without the use of cords, wires, and cables. Wireless connectivity is a method that allows the consumers to avoid costly installation of cables within the premises for connectivity between devices and systems. The pre-existing Wi-Fi-equipped infrastructure tends to use Wi-Fi connectivity for smart lights. Further, the penetration of IoT-based technologies in developing economies is lucrative to create opportunities for the market in the future.

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The prominent factors that drive the growth of the wireless connectivity technology market include high demand for wireless networks in development of smart infrastructure, growth in adoption of AI assistants, and integration of IoT in surveillance cameras. However, high installation and maintenance cost in wireless network system restricts the market growth. Conversely, emergence of IoT & AI technology for smart lightning and growth in development in smart city projects, especially in APAC, create lucrative opportunities for the wireless connectivity technology industry.

The wireless connectivity technology market is segmented on the basis of technology, application, and region. Based on technology, the market is categorized into Wi-Fi, Bluetooth, Zigbee, NFC, Cellular, and others. The applications covered in the study include consumer electronics, automotive, aerospace & defense, healthcare, IT & telecom, and others.

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Region-wise, the wireless connectivity technology market trends are analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, Germany, France, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, Australia, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). North America accounted for the highest share, owing to rise in adoption of smartphones and smart wearables coupled with increased investment in the government also boost the growth of the wireless connectivity technology market.

The key players operating in the market include Qualcomm Incorporated, Intel Corporation, NXP Semiconductors N.V., Texas Instruments, STMicroelectronics N.V., Broadcom, Panasonic Corporation, Infineon Technologies AG, Renesas Electronics, and MediaTek Inc. These key players have adopted various strategies, such as product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations, to increase their market penetration and strengthen their foothold in the wireless connectivity technology industry.

Wireless Connectivity Technology Market Key Segments

By Technology

o Wi-Fi
o Bluetooth
o Zigbee
o NFC
o Cellular
o Others

By Application

o Consumer Electronics
o Automotive
o Healthcare
o Aerospace & Defense
o IT & Telecom
o Others

Key Market Players

o Qualcomm Incorporated
o Intel Corporation
o NXP Semiconductors N.V.
o Texas Instruments
o STMicroelectronics N.V.
o Broadcom
o Panasonic Corporation
o Infineon Technologies AG
o Renesas Electronics
o MediaTek Inc

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This release was published on openPR.