The global wireless connectivity market is estimated at US$ 345 Billion while exhibiting a CAGR of 14.1% during the forecast period from 2022 to 2032, reports a recently published Future Market Insights study. Expansion of the market can be attributed to the growing adoption of smart home platforms like Alexa to effectively manage houses and increasing mobile phone users.
With the mounting number of connected devices, the need for high-speed internet connectivity has become one of the most imperative parameters in digitally progressive workplaces. With 3G becoming the absolute wireless broadband technology and 4G rapidly increasing its prospects across numerous applications, the industry concentration has shifted toward the advancement of the 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.
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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.
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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 $2.75billion 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.
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More Valuable Insights
Future Market Insights, in its new offering, presents an unbiased analysis of the global Wireless Connectivity software market, presenting a historical analysis from 2015 to 2021 and forecast statistics for the period of 2022-2032.
The study reveals essential insights into the wireless connectivity market by type (WLAN, WPAN, Satellite, LPWAN, Cellular M2M), and end user (healthcare, wearable devices, transportation and automotive, consumer electronic, building automation, others) across five major regions (North America, Europe, Asia Pacific, Middle East & Africa, and Latin America)
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years
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