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Wireless Connectivity Market Analysis and Forecasts to 2027 - Broadcom, MediaTek, NXP Semiconductors, STMicroelectronics
Wireless Connectivity Market
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The key companies operating in the field of wireless connectivity market that are profiled in the report include Broadcom, Inc., Cypress Semiconductor Corporation, Intel Corporation, MediaTek Inc., Microchip Technology Incorporated, NXP Semiconductors N.V, Panasonic Corporation, Qualcomm Incorporated, STMicroelectronics N.V., and Texas instruments incorporated among others.
The global wireless connectivity market was valued at US$ 46.1 Bn in 2018 and is expected to reach US$ 127.9 Bn by 2027 with a CAGR growth rate of 12.5% in the forecast period from 2019 to 2027.
With the growing integration of advanced technologies such as IoT and artificial intelligence in the next generation automobiles, the automotive sector is expected to contribute a significant part in the global wireless connectivity market. The applications of artificial intelligence in the automotive and transportation industry is driving the evolution of the next generation of intelligent automotive systems. The current advancements in Google’s Driverless cars and Tesla’s Autopilot features, it has been already proved that integration of these advanced technologies will drive the future of the automotive industry in the coming future. The applications of AI, IoT, 5G in the automotive is impacting automakers and transport companies worldwide, and this trend is expected to boost the wireless connectivity market in the coming years. There are major transformations being experienced by the automotive & transportation industry that include autonomous driving, road safety & traffic efficiency services, digitalization of transportation & logistics, intelligent navigation and information on the road. All these technologies require a robust wireless connectivity infrastructure that would enable two-way communication between vehicles while on the go. Hence, the advent of intelligent and smart automobile presents an excellent opportunity for the growth of the wireless connectivity market worldwide.
The global wireless connectivity market is segmented on the basis of technology into Wi-Fi, Bluetooth, cellular, Zigbee, GNSS, and others. The other wireless connectivity technologies include Li-Fi, LoRaWAN, NFC, Wi-Max, EnOcean, and Z-Wave among others. The growing importance of wireless communication technologies and more prominently the IoT, practically all electronic systems have the demand for wireless connectivity. With the increasing number of devices demanding to get connected over the internet, it is almost impossible to have a wired connection for every device. Further by 2020, it has been estimated that the number of devices over the internet would exceed the human population. These factors have generated tremendous demand for wireless connectivity technologies to remove the hassles associated with wired communication systems and thus contributing to the growth of wireless connectivity market.
The report segments the global wireless connectivity market as follows:
Global Wireless Connectivity Market – By Technology
Wi-Fi
Bluetooth
Cellular
Zigbee
GNSS
Others
Global Wireless Connectivity Market – By End-Use
Industrial
Construction & Infrastructure
Energy & Utilities
Automotive & Transportation
Healthcare
Consumer
Others
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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are a specialist in Technology, Semiconductors, Healthcare, Manufacturing, Automotive and Defense.
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