Wireless Connectivity Market Size, Share & Trends 2030

Estimates place the value of the worldwide wireless connectivity market at approximately USD 71.60 billion in 2022, and with a compound annual growth rate (CAGR) of roughly 15.06% between 2023 and 2030, it is expected to reach approximately USD 219.86 billion by 2030.

Global Wireless Connectivity Market: Overview

Wireless connectivity is utilized in homes and other businesses to eliminate the complex cable networks that are used in communication networks. Wireless communication equipment is used by numerous electrical devices. Bluetooth, Wi-Fi, and GPS are becoming standard on a wide range of gadgets, including smartphones and cell phones. In addition, a number of IoT applications, including cloud computing, gateways, and control devices, depend on wireless communication. Wireless connectivity is used by Internet of Things devices to support an access point that facilitates data transfer and inter-device communication. The need for wireless connectivity in business has increased recently as a means of improving operational efficiency, cutting costs, and facilitating quicker decision-making.

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Global Wireless Connectivity Market: Segmentation

There are three categories for global wireless connectivity: technology, application, and geography. Wi-Fi, Bluetooth smart, Bluetooth smart/Ant+, NFC, EnOcean, cellular, Z-Wave, ISA100, Bluetooth, Wi-Fi/Bluetooth smart, ZigBee, GNSS, ANT+, WHART, and thread are the different segments of the global market based on technology. Wearable technology, automotive and transportation, consumer electronics, telecommunication, healthcare, building automation, agricultural, and industrial are the segments of the wireless connection market based on the application. The world market is divided into a number of areas, including North America, Europe, Asia-Pacific, and the Rest of the World.

Global Wireless Connectivity Market: Growth Factors

The consumer electronics application is the market segment that is making the largest contribution. The growth of IoT and machine-to-machine communication is mostly to blame. The market for smart devices with Bluetooth and Wi-Fi is expanding quickly. The need for wireless connectivity is rising as a result of the rapid growth of the consumer electronics and telecommunications industries.

The market for wireless connectivity has been primarily driven by the need for linked devices and real-time computing. The market expansion has also been aided by ZigBee, Bluetooth, Wi-Fi, and low-power wide-area (LPWA) networks, among other wireless technology devices. The development of the wireless connection network market is being hampered by the absence of uniform communication standards. Furthermore impeding the advancement of wireless connectivity technologies include physical items, layered structures, and interferences from other electromagnetic sources.

Global Wireless Connectivity Market: Competitive Players

The key market players in the wireless connectivity market are Qualcomm Incorporated, Texas Instruments, STMicroelectronics N.V, Cypress Semiconductor Corporation, NEXCOM International Co. Ltd., Intel Corporation, Atmel Corp., NXP Semiconductor N.V, MediaTek Inc. and EnOcean GmbH.

Global Wireless Connectivity Market: Regional Analysis

The North American region has the largest market share of any region. The market has enormous potential to grow in developed economies like the US and Canada because of the growing IoT applications. Since these two nations are technologically developed and receptive to new ideas, there will be a market for wireless connectivity. A portion of the market growth is also coming from the Asia Pacific area. Governments in nations including South Korea, Japan, China, India, and China are stepping up to support the development of wireless technology.

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The global wireless connectivity market is led by players like: