Wireless Connectivity is anticipated to project robust growth in the forecast period with a CAGR of 12.84% through 2029
Proliferation
of IoT (Internet of Things) and Increased Mobile Device Usage are the factors
propelling the market growth
According
to TechSci Research report, “Wireless Connectivity Market - Global Industry
Size, Share, Trends, Competition Forecast & Opportunities, 2029”. Global Wireless Connectivity
is anticipated to project robust growth in the forecast period with a CAGR of
12.84% through 2029. The expansion of the market will be propelled by increasing demand for consumer electronic devices. Additionally, the sustained adoption of advanced technologies such as AI, IoT, AR, and VR is expected to remain prominent across various industry verticals. The development of smart infrastructure on a global scale is another significant driver boosting the requirement for wireless sensor networks. Industries like oil and gas heavily rely on dependable, secure, and resilient networks to ensure seamless communications for their daily operations. Meeting many of these industry requirements, Multiprotocol Label Switching (MPLS) has been effectively providing solutions through its service-oriented virtual private network (VPN), integrating numerous applications.
Work from home has emerged as a significant trend in recent times. The rapid transition to widespread remote work has led employees to utilize personal devices such as mobile phones, laptops, tablets, and desktops. Additionally, employees are frequently accessing the corporate network using their personal Wi-Fi internet connections.
The advancement of smart infrastructure is anticipated to serve as a major catalyst for the market. Furthermore, intelligence and connectivity play pivotal roles in facilitating the digital evolution of essential energy, water, and municipal services. For example, in June 2022, Siemens Smart Infrastructure introduced Building X, a novel smart building suite characterized by its openness, interoperability, and complete cloud-based infrastructure. This suite represents the inaugural next-generation solution developed based on the design principles of Siemens Xcelerator, an open digital business platform engineered to propel digital transformation and value generation across transportation, grids, and buildings.
Browse
over xx market data Figures spread through xx Pages and an in-depth TOC on " Global
Wireless Connectivity Market.”
Based
on End User Industry, The Automotive Industry is positioned to maintain its dominant role in the Wireless Connectivity market throughout the projected period. This expectation arises from the ongoing integration of wireless technologies into vehicles, serving various functions including infotainment systems, telematics, vehicle-to-vehicle communication, and advancements in autonomous driving features. As automotive manufacturers prioritize connectivity and digitalization to enrich user experience, safety, and operational efficiency, the demand for wireless connectivity solutions within this sector is projected to experience a significant increase. Consequently, the Automotive Industry is forecasted to capture the largest market share in Wireless Connectivity, fueling innovation and reshaping the future of mobility. Consumers are increasingly inclined towards connected and autonomous vehicles, with this trend expected to further gain momentum during the forecasted period. The showcased advanced driving assistance systems (ADAS) aim to bridge the gap between present-day automobiles and those of the future. Furthermore, as automotive technology progresses, end-users demonstrate a growing willingness to invest in the latest innovations that enhance driving experience and bolster passenger and driver safety.
In terms of regional dominance, The Asia-Pacific region is poised to take the lead in the Wireless Connectivity market, capitalizing on its reputation as an early adopter of technological advancements such as Artificial Intelligence (AI) and the Internet of Things (IoT). With a rapidly expanding population and increasing urbanization, countries across the Asia-Pacific are embracing digital transformation at an unprecedented rate. This transformation encompasses the adoption of wireless connectivity solutions, which play a vital role in supporting the region's growing smart cities, connected industries, and advanced transportation systems. Furthermore, the widespread usage of smartphones and other smart devices in the Asia-Pacific region adds to the demand for robust wireless networks. Consequently, the region is expected to sustain its dominant position in the Wireless Connectivity market, fostering innovation and shaping the global landscape of connectivity.
Key
market players in the Global Wireless Connectivity Market are following: -
- STMicroelectronics N.V.
- NXP Semiconductors N.V.
- Nordic Semiconductor ASA
- Expressif Systems
- CEVA, Inc.
- Peraso Technologies,
Inc.
- Panasonic Corporation
- MeiG Smart Technology
Co., Ltd.
- Neoway Technology
- XIAMEN CHEERZING IoT
Technology Co., Ltd.
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“The
global wireless connectivity market is driven by several key factors. The
proliferation of Internet of Things (IoT) devices, the deployment of 5G
technology, increased mobile device usage, the growth of remote work and
telecommuting, and the expansion of smart home and consumer electronics have
fueled the demand for wireless connectivity solutions. Industries such as
healthcare, manufacturing, and smart cities are adopting wireless technology
for automation and efficiency. Furthermore, technological advancements, global
connectivity initiatives, and consumer expectations for seamless wireless
experiences continue to push the wireless connectivity market forward, making
it a dynamic and vital industry in the digital age.” said Mr. Karan Chechi,
Research Director with TechSci Research, a research-based global management
consulting firm.
Wireless
Connectivity Market – Global
Industry Size, Share, Trends, Opportunity, and Forecast Segmented Technology
(Wi-Fi, Bluetooth, Zigbee, and Other), End-user Industry (Automotive,
Industrial, Healthcare, Energy, Infrastructure, and Other), By Region, By
Competition 2019-2029",has
evaluated the future growth potential of Global Wireless Connectivity Market
and provides statistics and information on market structure, size, share, and
future growth. The report is intended to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities present in the Global Wireless Connectivity
Market.
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