Wireless Connectivity Market Projected to Hit USD 214.3 Billion at a CAGR of 15.2% CAGR by 2030 - Report by Market Research Future (MRFR)

Wireless Connectivity Market Rise by the increasing demand for cloud computing and related technologies

New York, US, Sept. 20, 2022 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), “Wireless Connectivity Market Research Report, By Technology, Deployment, Application, Type - Forecast To 2030”, the market is anticipated to flourish at a robust CAGR of approximately 15.2% to reach USD 214.3 Billion during the assessment timeframe.

Report Scope:

Report Attribute/MetricDetails
  Market Size by 2030  USD 214.3 Billion
  CAGR  15.20% (2022-2030)
  Key Market Opportunities  The fast progress in radio frequencies, internet, and IoT.
  Key Market Drivers  The increasing demand for cloud computing and related technologies.
  The increasing usage of the IoT and artificial intelligence (AI).

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Wireless Connectivity Market Overview:

The wireless connectivity market is a rapidly growing space. The penetration of information & communication technology substantiates the market size. Besides, the increasing demand for wireless connectivity for fast data transfer and exchange of information across the globe drives the growth of the market. Also, the proliferation of cellular systems and wearables substantiates the market demand.

With the growing demand for cloud computing and related technologies, the market is expected to continue to grow in the years to come. Market Research Future (MRFR) asserts that the global wireless connectivity market is poised to create a valuation of USD 214.3 BN by 2030, growing at a 15.2% CAGR throughout the assessment period (2022-2030). 

Robust wireless networks and wireless connectivity solutions are vital to support digitization and industrial automation, including autonomous and teleremote solutions to strengthen safety and productivity. Innovative wireless solutions are important for an ever-evolving connected world. Improving connectivity protocols, including Wi-Fi, Bluetooth, Sub-1 GHz, and Zigbee, positively impacts market growth. 

Many players in the market are offering a portfolio of affordable and quality wireless connectivity solutions. These protocols Integrate wireless functionality through innovations such as protocol standardization and help users to get started with IoT-connected projects and advanced security features. Industry-leading standby current, industrial temperature support, and high-quality RF are used to develop connected applications.

The advent of 5G networks has expanded wireless networks, enhancing existing connectivity services. This ubiquitous technology would create massive technological disruptions and connectivity for an extensive range of applications. Besides, wireless technology has enabled various industries to connect and enhance their efficiency, performance, and value. 

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Industry Trends

Digital devices are seeing increasing uses to improve interfaces in real-time web surfing & applications, thereby significantly increasing data usage over wireless networks. The growing adoption of communication platforms boosts market revenues. The wireless network ecosystem offers immense advantages for personal and commercial purposes. Therefore, it is extensively used to deploy and build a home wireless network.

Growing applications such as medical, smart home, asset tracking, personal electronics, and more drive the market demand. Wireless connectivity technologies offer some attractive advantages, such as eliminating wired solutions, internet connectivity from anywhere in the ISP's service area & internal network, reasonable costs compared to DSL & cable, and simple installation & maintenance.

Digital transmission of data with higher efficiency & ease associated with the process substantiates the market shares. The advent of cell phones, tablets, and high-tech hand-held devices connected to wireless networks fosters the wireless communication market size. Additionally, spurring growth in the number of end-users encourages market development.

On the flip side, technical issues related to connectivity and networks are the major factors predicted to impede market growth. Also, the lack of expertise and infrastructure in rural areas challenges the wireless connectivity market growth. Nevertheless, the growing availability of futuristic technologies would support market growth throughout the forecasted period. 

Wireless Connectivity Market Segments

The wireless connectivity market is segmented into types, technologies, deployments, end-user industries, and regions. The segment is sub-segmented into local wireless networks (WLANs), WPANs (wireless personal area networks), satellites, M2M using cellular technology, and others. The technology segment is sub-segmented into Bluetooth, WI-FI, ultra-wideband, NFC, cellular, Zigbee, and others. 

The deployment segment is sub-segmented into control devices, gateways, cloud industries, and others. The industry segment is sub-segmented into healthcare, wearables, public security, energy, automotive, consumer electronics, and other industries. The region segment is bifurcated into the Americas, Asia-Pacific, Europe, and the Rest-of-the-World.

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Wireless Connectivity Market Regional Analysis

North America dominates the global wireless connectivity market, headed by the presence of major industry players such as Cisco Systems, Texas Instruments, Microchip Technology, and others. Besides, the rising adoption and demand for wireless connectivity solutions across major industries drive the growth of the market. High R&D investments and advances in wireless technologies fuel market revenues. 

Europe is another rapidly growing market for wireless connectivity solutions. Factors such as increasing purchasing power and the penetration of wearables and medical devices escalate the market value. Moreover, the rise in end-user industries, such as healthcare, public security, energy, automotive, consumer electronics, and other industries, boosts market revenues. The proliferating information technology substantiates the market growth.

The Asia Pacific region accounts for a considerable share of the global wireless connectivity market. The presence of well-established market players and increased adoption of connected devices and digital technologies such as smartphones, laptops, and tablets influence regional market growth. Japan, Australia, and South Korea account for considerable shares in the Asia Pacific market. 

Wireless Connectivity Market Competitive Landscape

Highly competitive, the wireless connectivity market appears fragmented due to several well-established market players forming a competitive landscape. Industry players initiate strategies such as collaboration, mergers & acquisitions, expansion, and product launches to gain a competitive share. The growing use of smart connected devices escalates the market value.

These players rely on collaboration and partnerships with other players to innovate solutions and cut down development costs and time. Technology providers use a variety of distribution channels and are increasingly engaging social media to generate inbound leads. 

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For instance, on Sep.19, 2022, Epiroc, a leading global productivity and sustainability partner for the mining and infrastructure industries, announced its plan to acquire a majority stake in Radlink, a mine wireless connectivity solutions company. Radlink delivers and integrates wireless data & voice communication networks supporting infrastructure to the surface and underground mines across Australia.

Players leading the global wireless connectivity market include STMicroelectronics NV (Switzerland), Cisco Systems Inc (US), Texas Instruments Inc. (US), Microchip Technology Inc. (US), Intel Corporation (US), Cypress Semiconductor Corporation (US), NXP Semiconductors (Netherlands), QUALCOMM Inc. (US), AT&T Inc. (US), and Renesas Electronics Corporation (Japan), among others.

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