Wireless Connectivity Market Size To Expand at a Notable CAGR Of 13.14% During 2024 - 2032

Market Research Future (MRFR) has published on the “Global Wireless Connectivity Market”.

Wireless Connectivity Market Highlights

The Wireless Connectivity Market is predicted to reach USD 359.5 billion by 2032, registering a 13.14% CAGR during the forecast period, 2024–2032. In this report, Market Research Future (MRFR) includes the segmentation and dynamics of the market to offer a better glimpse of the market in the next few years. The global Wireless Connectivity market is expected to witness substantial growth during the forecast period, primarily due to the growing demand for cloud computing and related technologies.

The wealthier countries of North America and Europe have seen a rapid rise in internet penetration over the past 10 years. Global internet usage figures show that in 2022, 54.2% of internet users will be in Asia, 13.9% in Europe, and 6.5% in North America. The fastest growth in internet usage are occurring in countries in the Middle East and Africa. Internet usage is increasing even on mobile devices. As a result of the increased need for internet access, it is predicted that the demand for smart devices incorporating wireless networking technologies would rise. Machine-to-machine (M2M) connection is predicted to grow more than two times globally during the next five years. Delivery trucks, industrial facilities, and warehouse asset tracking systems all employ M2M connections. The factors mentioned above, as well as the growing adoption of 5G technology, the rise of loT and M2M connections, and the rising number of internet users, all contribute significantly to the need for wireless connectivity.

Also, growing adoption of IoT is also boosting the growth of the market. Important companies like AT&T, Inc. have been providing solutions through their IoT platforms, solutions, and services, including deployment services, automotive solutions, integrated solutions, smart cities, and others. Siemens AG and Cisco Systems, Inc. provide solutions for industrial edge computing, digital twins, network connectivity, data control, and connectivity management. A global infrastructure for the information society is provided by the internet of things technology, allowing cutting-edge services to connect numerous items based on existing and emerging communication technologies. It also has the ability to exchange information interoperability and communicate autonomously without human input.

Segmental Analysis

The scope of the global Wireless Connectivity market has been segmented based on Technology, Type, Application and Region.

Based on Technology, the global Wireless Connectivity market is segmented into Bluetooth, WiFi, GPS, Ultra Wide, NFC, cellular, ZigBee, SigFox, Lora and Others.

Based on Type, the global Wireless Connectivity market is segmented into WLAN, WPAN, Satellite and Cellular M2M.

Based on the Application, the market has been classified into Healthcare, Public safety, wearable devices, energy, automotive, consumer electronics and others.

Browse In-depth Details [Table of Content, List of Figures, List of Tables] of Wireless Connectivity Market Research Report

Regional Analysis

Geographically, the global Wireless Connectivity market has been segmented into North America, Europe, Asia-Pacific, the Middle East & Africa, and South America.

Europe accounts for the largest share of the market which accounts to 31.9% while the second largest share is hold by North America which is 27.9%.Due to the increasing rate of public technology adoption, North America controls the global wireless connection market in terms of revenue. Market expansion is facilitated by both consumer expenditure and regional consumer behavior. Energy, agriculture, and other sectors in the area that are in the growth stage are expected to be major drivers of the market for wireless connection. In addition, it is projected that the introduction of 5G technology would stimulate market growth in North America.

The market is growing largely as a result of the increase in internet and smartphone usage, the widespread adoption of cloud computing and Internet of Things (IoT)-enabled platforms, and the significant use of wireless sensors in smart infrastructure. This is affected by how much more people are aware of the benefits of wireless communication and how much more low-power wide-area (LPWA) networks are in demand. Therefore, manufacturers have been pushed to include various wireless security cameras for asset monitoring and smart lighting technologies, which serve as another growth-inducing component, as a result of governments' positive efforts to build smart cities. The market is also growing as a result of the development of artificial intelligence (AI) solutions and the substantial incorporation of ZigBee, thread, and near-field communication (NFC) technology.

Key Players

The key players in the global Wireless Connectivity market are Texas Instruments Inc., Cypress Semiconductor Corporation, Intel Corporation, AT&T Inc., STMicroelectronics NV, Renesas Electronics Corporation, Mediatek, Broadcom, Enocean, Nexcom International Co., Ltd., and Ceva, Inc.