Wireless Connectivity Technology Market Outlook – 2027
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 referred to networking technology that is used for connection between two nodes or devices without the use of cable, cords, and wires. 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 penetration of Wi-Fi in the residential, commercial, and industrial sectors as a wireless LAN connection drives the demand for Wi-Fi enabled smart lighting.
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 future. In addition, Bluetooth is used in smart lighting infrastructure as wireless connectivity technology. This wireless technology inter-links devices and provides remote access to the users. For instance, smart LED bulb by Svarochi provides users with Bluetooth connectivity, which helps them remotely access the device to control illumination, hue of lights, and other features.
Factors such as increase in demand for wireless networks in development of smart infrastructure create growth opportunities for wireless connectivity technology market. The development of metropolitan cities into smart cities across the world demands inter connectivity of human and material resources. The connectivity has witnessed development from wired connections to wireless connections. Further, the advancement of wireless connections that has increased data transfer rate is expected to drive the market, due to wide application of wireless networks in smart infrastructures.
The growth in adoption of AI assistants and integration of IoT in surveillance cameras drive the market growth. IoT is expanding at a rapid rate and is expected to grow over the coming years at a constant pace. There are estimated to be around 20 billion connected devices worldwide by 2020. Integration of IoT in video surveillance for security and monitoring offers greater visibility over asset monitoring to improve security and prevent critical loss through real-time surveillance. However, high installation and maintenance cost in wireless network system hamper the wireless connectivity technology market growth.
Furthermore, emergence of IoT & AI technology for smart lightning and growth in development in smart city projects, especially in APAC, are expected to further increase the demand for wireless connectivity technology market. The governments have played a major role in smart cities market through its regulations and initiatives focused on deployment of smart services as a major part of their infrastructure.
By Technology
Wi-Fi segment is projected to be the most lucrative segment
For instance, General Services Administration’s (GSA) Smart Buildings Initiative started in May 2012, which was aimed to reduce costs and promote smart services with modernized federal government buildings in large parts through connected technologies. This is one such major project recorded in the recent years. Moreover, governments in emerging economies in APAC such as China, South Korea, India, Singapore, and Japan are aimed toward smart development of their economies.
By Application
Consumer Electronics segment is expected to secure the leading position throughout the forecast period
The wireless connectivity technology market size 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.
By Region
Asia-Pacific region would exhibit the highest CAGR of 14.7% during 2020 - 2027
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, 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.
Top Impacting Factors
The prominent factors that drive the growth of the wireless connectivity technology market include rise in 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.
Competitive Analysis
Competitive analysis and profiles of the major market players, such as Qualcomm Incorporated, Intel Corporation, NXP Semiconductors N.V., Texas Instruments, STMicroelectronics N.V., Broadcom, Panasonic Corporation, Infineon Technologies AG, Renesas Electronics, and MediaTek Inc. are provided in this report. 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.
Key Benefits For Stakeholders
- This study comprises analytical depiction of the global wireless connectivity technology market along with the current trends and future estimations to depict the imminent investment pockets.
- The overall wireless connectivity technology market analysis is determined to understand the profitable trends to gain a stronger foothold.
- The report presents information related to key drivers, restraints, and wireless connectivity technology market opportunities with a detailed impact analysis.
- The current wireless connectivity technology market forecast is quantitatively analyzed from 2020 to 2027 to benchmark the financial competency.
- Porter’s five forces analysis illustrates the potency of the buyers and the wireless connectivity technology market share of key vendors.
- The report includes the market trends and the market share of key vendors.
Wireless Connectivity Technology Market Report Highlights
| Aspects | Details |
 By Technology |
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 By Application |
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 By Region |
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 Key Market Players | INTEL CORPORATION, TEXAS INSTRUMENTS INCORPORATED, PANASONIC CORPORATION, QUALCOMM INCORPORATED, STMICROELECTRONICS, RENESAS ELECTRONICS, NXP SEMICONDUCTORS N.V., BROADCOM, INFINEON TECHNOLOGIES AG, MEDIATEK, INC. |
Analyst Review
The wireless connectivity technology market holds high potential in the connectivity and networking industry. The current business scenario experiences rapid advancement in automation of electronic products leading to the readiness to adopt this technology, particularly in the regions such as North America and Asia-Pacific. Companies in this industry adopt various innovative techniques to provide customers with advanced and innovative features.
North America is one of the key contributors to the global advancement, owing to the advancements in technologies, innovations, and investments in respective industry. The growth of the wireless connectivity technology 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 growth of the wireless connectivity technology market. In addition, factors such as adoption of IoT and AI in the automobiles and vehicles equipped with automated driving are expected to increase the market demand.
The wireless connectivity technology market leaders profiled in the report 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.
The Wireless Connectivity Technology Market is estimated to grow at a CAGR of 13.0% from 2020 to 2027.
The Wireless Connectivity Technology Market is projected to reach $150.38 billion by 2027.
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Rise in Demand for wireless networks in development of smart infrastructure, growth in adoption of AI assistants, and integration of IoT in surveillance cameras drives the growth of Wireless Connectivity Technology Market.
The key players profiled in the report include Qualcomm Incorporated, Intel Corporation, NXP Semiconductors N.V., Texas Instruments, STMicroelectronics N.V., Broadcom, Panasonic Corporation, and many more.
On the basis of top growing big corporations, we select top 10 players.
The Wireless Connectivity Technology Market is segmented on the basis of technology, application, and region.
The key growth strategies of Wireless Connectivity Technology market players include product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations.
Wi-Fi segment holds a dominant position throughout the forecast period.
Consumer Electronics segment is expected to secure the leading position throughout the forecast period.
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