Wireless Connectivity Technology Market By Technology and Application: Global Opportunity Analysis and Industry Forecast, 2020-2027

Executive Summary

According to the report titled, 'Wireless Connectivity Technology Market by Technology, and Application: Global Opportunity Analysis and Industry Forecast, 2019-2026' global wireless connectivity technology market size was valued at $52,783.3 million in 2019, and is projected to reach $128,470.1 million by 2026, registering a CAGR of 12.6%.

The development of metropolitan cities into smart cities round the world demands inter connectivity of human and material resources. The connectivity has witnessed transformation from wired connections to wireless connections. Further, the advancement of wireless connections has increased data transfer rate which is expected to drive the market, owing to wide applications of wireless networks in smart infrastructures. For instance, in the U.S. average commuter spends about 42 hours of a year stuck in traffic, which is higher in mega cities such as in Los Angeles or New York. Wherein, smart cities connected traffic lights can analyze traffic patterns and adjust in real-time to reduce congestion and delays.

The use of AI assistance in various sectors such as residential, commercial and industrial, has increased over the recent years. The use of autonomous wearable devices assists users to provide ease and convenience for task accomplishment. The AI encrypted compact devices use wireless networks for hyper connectivity. For instance, smart wrist watches from Samsung, Gear s2/s3 which is incorporated with home assistant UI and uses wireless networks, built-in Bluetooth 4.1 and 802.11 b/g/n Wi-Fi. Therefore, the use of such intelligent wearables makes daily activity easy for consumers which increases the market demand.

Bluetooth is used in smart lighting infrastructure as wireless connectivity technology. This wireless technology inter-links devices and provide users with remote access. For instance, smart LED bulb by Svarochi provides users with Bluetooth connectivity, which helps them to remotely access the device to control illumination, hue of lights, and other features. Further, the advancement of Bluetooth technology is used to create proficient wireless connectivity. For instance, the SSL industry has built support around the open Bluetooth Mesh st andard. Mesh technology has recently gained momentum due to its open connectivity nature and is extensible to cover a variety of lighting installations.

The rise in investment in research and development on wearable devices is lucrative to create wireless connectivity technology market trends. For instance, hearables, or wireless in-ear computational earpieces are an example of intelligence IoT integrated amplification devices that have been adopted recently and rapidly. An example is Apple’s AirPods, which are smart earbuds that connect to Apple devices and integrate with Siri via voice comm ands. Similarly, Google’s Pixel Buds give users direct access to the Google Assistant which is connected over wireless connectivity, Bluetooth. Google Assistant seamlessly connects users to information stored in Google platforms, such as email, calendar management among others. Therefore, the advancements of devices is expected to create wireless connectivity technology market opportunity.

North America is one of the key contributors to the advancement in technologies, innovations, and investments in wireless connectivity industry in the region increases the market demand. Owing to this fact, North America is the highest revenue contributor worldwide. The growth of the wireless connectivity market in North America is attributed to increase in adoption of portable technologies under various applications in the region. In addition, a rise in the adoption of smartphones and smart wearables coupled with increased investment in the government also boost the wireless connectivity technology market growth.

According to Shantanu Sachan, Lead Analyst, Semiconductors & Electronics, “As per the wireless connectivity technology market analysis considerable growth is expected due to emergence of Internet of Things (IoT) in the semiconductor industry. The wireless connectivity technology industry is projected to witness significant growth, especially in the emerging economies such as Asia-Pacific and LAMEA,owing to the development of the semiconductor market in the regions.”

KEY FINDINGS OF THE STUDY

• Based on technology, the Wi-segment generated the highest revenue in the global wireless connectivity technology market in 2019.
• Based on application, the consumer electronics segment generated the highest revenue in the wireless connectivity technology market share in 2019.

The wireless connectivity market leaders profiled in the report include Qualcomm Incorporated, Intel Corporation, NXP Semiconductors N.V., Texas Instruments Inc., Stmicroelectronics N.V., Cypress Semiconductor Corporation, Panasonic Corporation, Nexcom International, Atmel Corporation and Mediatek Inc. These key players adopt several strategies, such as new product launch and development, acquisition, partnership & collaboration, and business expansion to increase the wireless connectivity market share during the forecast period.

Companies Mentioned

• Qualcomm Incorporated
• Intel Corporation
• NXP Semiconductors N.V.
• Texas Instruments Inc.
• Stmicroelectronics N.V.
• Cypress Semiconductor Corporation
• Panasonic Corporation
• Nexcom International
• Atmel Corporation, Mediatek Inc

Methodology

The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.

They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.

They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:

• Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
• Scientific and technical writings for product information and related preemptions
• Regional government and statistical databases for macro analysis
• Authentic news articles and other related releases for market evaluation
• Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast

Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.