Wireless Connectivity Market to Reach $294 billion, Globally, by 2032 at 13.89% CAGR: Allied Market Research

The wireless connectivity market share is expected to witness considerable growth in coming years, owing to the proliferation of smartphones, tablets, wearable devices, IoT gadgets, and smart home.

WILMINGTON, Del., April 12, 2024 /PRNewswire/ — Allied Market Research published a report, titled, “Wireless Connectivity Market by Technology (Wi-Fi, Bluetooth, Zigbee, NFC, Cellular, Others) and Application (Consumer Electronics, Automotive, Aerospace and Defense, Healthcare, IT and Telecom, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032″. According to the report, the “wireless connectivity market” was valued at $80.4 billion in 2022, and is estimated to reach $294 billion by 2032, growing at a CAGR of 13.89% from 2023 to 2032.

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Prime Determinants of Growth

The wireless connectivity market is expected to witness notable growth owing to the rising popularity of smartphones, tablets, wearables, smart home devices, and IoT solutions. Moreover, the widespread adoption of 5G technology is expected to provide lucrative opportunities for the growth of the market during the forecast period. On the contrary, security remains a significant concern in wireless connectivity, particularly with the increasing number of connected devices and the potential vulnerabilities they introduce. Security breaches, data leaks, and unauthorized access presents integration challenges and limits the growth of the wireless connectivity market.

Report Coverage & Details:

The Wi-Fi segment to maintain its leadership status throughout the forecast period

Based on technology, the Wi-fi segment held the highest market share in 2022, accounting for nearly one-fourth of the global wireless connectivity market revenue and is estimated to maintain its leadership status throughout the forecast period due its ubiquitous adoption, offering high-speed internet access for various devices. Its dominance stems from widespread use in homes, businesses, and public spaces, driving demand for Wi-Fi-enabled products and infrastructure.

The Consumer Electronic segment to maintain its leadership status throughout the forecast period

Based on application, the consumer electronics segment held the highest market share in 2022, accounting for more than one-fourth of the global wireless connectivity market revenue and is estimated to maintain its leadership status throughout the forecast period. Consumer electronics held the highest market share in the wireless connectivity market due to the widespread integration of wireless technologies like Wi-Fi and Bluetooth in smartphones, tablets, smart TVs, and wearables. The surge in demand for connected devices, coupled with advancements in wireless connectivity, propelled consumer electronics to dominate the market, driving innovation and expanding the ecosystem of wireless-enabled products.

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Asia-Pacific to maintain its dominance by 2032

Based on region, Asia-Pacific held the highest market share in terms of revenue in 2022, accounting for nearly one-third of the global wireless connectivity industry revenue owing to rapid technological adoption, urbanization, and the expanding consumer electronics market. With increasing demand for smartphones, IoT devices, and smart home solutions, the region witnessed substantial growth in wireless connectivity. Moreover, initiatives to improve digital infrastructure and connectivity further bolstered Asia-Pacific’s position as a leading market for wireless technologies.

Key Industry Development –

• In April 2022, Intel acquired a private 5G network provider Ananki, a startup created by the non-profit Open Networking Foundation (ONF) to focus on the commercialization of private 5G services based on open-source network technologies.
• In February 2022, Hewlett Packard Enterprise and Qualcomm Technologies announced a collaboration to deliver the next-generation 5G virtualized distributed unit solutions. The companies collaborated to deliver industry’s first fully optimized VDU solution with up to 60% lower total cost of ownership for Operators.

 Leading Market Players: –

• Qualcomm Incorporated
• Broadcom Inc.
• Intel Corporation
• MediaTek Inc.
• Texas Instruments Incorporated
• Infineon Technologies AG
• NXP Semiconductors N.V.
• Murata Manufacturing Co., Ltd.
• Microchip Technology Inc.
• STMicroelectronics N.V.

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Key Benefits For Stakeholders:

• This study comprises an analytical depiction of the market size along with the current trends and future estimations to depict the imminent investment pockets.
• The overall market analysis is determined to understand the profitable trends to gain a stronger foothold.
• The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
• The current global wireless connectivity market forecast is quantitatively analyzed from 2022 to 2032 to benchmark financial competency.
• Porter’s five forces analysis illustrates the potency of the buyers and suppliers in  wireless connectivity.
• The report includes the market share of key vendors and wireless connectivity market trends.

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Wireless Connectivity Market Key Segments:

By Technology

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

By Application

• Consumer Electronics
• Automotive
• Aerospace and Defense
• Healthcare
• IT and Telecom
• Others

By Region:

• North America (U.S., Canada, and Mexico)
• Europe (UK, Germany, France, Russia, and Rest of Europe)
• Asia-Pacific (China, Japan, India, Australia, South Korea, and Rest of Asia-Pacific)
• Latin America (Brazil, Argentina, and Rest of Latin America)
• Middle East and Africa (UAE, Saudi Arabia, and Rest of Middle East and Africa)

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