A new analysis by Future Market Insights estimates that the worldwide wireless connection market will reach USD 345 billion with a compound annual growth rate (CAGR) of 14.1% between 2022 and 2032. The market’s growth may be ascribed to both the rise in mobile phone users and the rising usage of smart home platforms like Alexa to efficiently manage homes.
High-speed internet access is becoming one of the most important requirements in businesses that are embracing digital transformation due to the growing number of connected devices. Since 3G has emerged as the dominant wireless broadband technology and 4G is expanding its potential in a wide range of applications, the industry’s focus has switched to the development of 5G technology.
It is estimated to become the next stage of development across the highly dynamic broadband industry. As pondered by leading network providers, the 5G network infrastructure would support release connectivity of ≥1 Gbps in the coming years.
China captured the largest share in the wireless connectivity market and is estimated to maintain its dominance throughout the forecast period, attributed to the increasing focus on the increasing standard of living and increasing automation. The country has been acknowledged as one of the most notable markets for technological advancement and design software backed by the presence of prominent players. In April 2022, China added nearly 21.15 million 5G subscribers which sets a base for the healthy growth of the wireless connectivity segment in the coming years.
Key Points from the Market Study
- By end-user, the consumer electronics segment general is anticipated to dominate the market while exhibiting a CAGR of 13.5% during the forecast period
- By type, the WPAN segment is projected to record a CAGR of 13.6% from 2022-2032
- Market in the U.K to garner a market value worth US$ 14 Billion by 2032
- Industry in China to record a CAGR of 13.4% during the forecast period
- Market in South Korea is expected to hold a value of US$ 12 Billion during the assessment period.
“Increasing urbanization and the emergence of technologies like LTE, WPAN and the introduction of 5G spectrum in the developing countries like India, China is boosting the adoption of wireless connectivity devices in houses and offices.,” remarks an FMI analyst.
Competition Analysis
Key players in the market include Intel Corporation, Texas Instruments Incorporated, Qualcomm Incorporated, Broadcom, STMicroelectronics N.V., NXP Semiconductors N.V., Microchip Technology Inc., MediaTek Inc., Cypress Semiconductor Corporation, Renesas Electronics Corporation, EnOcean, Nexcom International Co., Ltd., Skyworks Solutions, Inc., Murata Manufacturing Co., Ltd., Marvell Technology Group, Nordic Semiconductor, Expressive Systems, CEVA, Inc., Quantenna Communications, Inc., Peraso Technologies, Inc., Panasonic Corporation, BehrTech, Element 14, Dialog Semiconductor, Silicon Labs, among others. Notable Developments in the Market are:
- 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 Announce Collaboration to Deliver the Next-Generation 5G Virtualized Distributed Unit Solutions. The Companies Will Collaborate to Deliver Industry’s First Fully Optimized vDU Solution with up to 60% Lower Total Cost of Ownership for Operators.
- In April 2021, Silicon Labs has entered into a definitive asset purchase agreement to sell its Infrastructure & Automotive (I&A) business to Skyworks Solutions, Inc. for $2.75 billion in all-cash consideration. The transaction includes Silicon Labs’ power/isolation, timing and broadcast products, intellectual property, and associated employees. Silicon Labs and Skyworks will collaborate to ensure a seamless transition for customers, suppliers, and employees.
Key Segments Profiled in the Wireless Connectivity Market
Wireless Connectivity Market by Type:
- WLAN Wireless Connectivity
- WPAN Wireless Connectivity
- Satellite Wireless Connectivity
- LPWAN Wireless Connectivity
- Cellular M2M Wireless Connectivity
Wireless Connectivity Market by End User:
- Wireless Connectivity in Healthcare
- Wireless Connectivity in Wearable Devices
- Wireless Connectivity in Transportation and Automotive
- Wireless Connectivity in Consumer Electronics
- Wireless Connectivity in Building Automation
- Wireless Connectivity for Other End Users
Wireless Connectivity Market by Region:
- North America Wireless Connectivity Market
- Latin America Wireless Connectivity Market
- Europe Wireless Connectivity Market
- Asia Pacific Wireless Connectivity Market
- Middle East & Africa Wireless Connectivity Market
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