Wireless Connectivity Market Forecast, Trends, and Growth 2031

Wireless Connectivity Market Size and Forecast (2021–2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Technology (Wi-Fi, Bluetooth, Cellular, Zigbee, GNSS, and Others); End-Use (Industrial, Construction & Infrastructure, Energy & Utilities, Automotive & Transportation, Healthcare, Consumer, and Others), and Geography

  • Report Code : TIPTE00002113
  • Category : Electronics and Semiconductor
  • No. of Pages : 150
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Wireless Connectivity Market Size & CAGR (2023-2031)

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The wireless connectivity market size is projected to reach US$ 335.96 billion by 2031 from US$ 120.80 billion in 2023. The market is expected to register a CAGR of 13.6% in 2023–2031. The global wireless connectivity market is forecast to increase significantly over the forecast period, owing to rising demand for cloud computing and related technologies.

 Wireless Connectivity Market Analysis

Furthermore, wireless connectivity allows customers to send data with notably low latency and find their cars with accuracy. Modern communication networks like LTE and LTE Advanced can be used to communicate with smart automobiles. Smart driving will be efficiently managed by an enhanced 5G network and the Internet of Things. Numerous advancements in the wireless communications sector, including the impending rollout of long-term evolution (LTE), enhanced smart device use, increased mobility, and the rapid growth of mobile data traffic, are driving the demand for wireless technology. Newer wireless technologies ask for greater energy and spectrum. The two mobile technologies that are expanding the fastest are LTE and 5G, and they will keep developing in the future.

Wireless Connectivity Market Overview

The increasing demand for consumer electronic gadgets will fuel the market's growth. Furthermore, sophisticated technologies such as AI, IoT, AR, and VR are projected to stay popular across a variety of end-user industries. The global development of smart infrastructure is also a major driver of demand for wireless sensor networks.

Infotainment systems can be linked to smartphones and other smart devices through wireless connectivity, such as Wi-Fi and Bluetooth. Infotainment systems can be paired with users' gadgets. It can handle hands-free mode to accept calls while driving, react to voice instructions, and easily and conveniently operate systems.

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Wireless Connectivity Market: Strategic Insights

Wireless Connectivity Market

  • CAGR (2023 - 2031)
    13.6%
  • Market Size 2023
    US$ 120.80 Billion
  • Market Size 2031
    US$ 335.96 Billion

Market Dynamics

GROWTH DRIVERS
  • High Internet Penetration Rate
FUTURE TRENDS
  • Growing AI application lead to incresing use of wireless connectivity
OPPORTUNITIES
  • Increasing Demand for Cross-Domain Applications

Key Players

  • Broadcom Inc.
  • Cypress Semiconductor Corporation
  • Intel Corporation
  • Media Tek Inc.
  • Microchip Technology Incorporated
  • NXP Semiconductors N.V
  • Panasonic Corporation
  • Qualcomm Incorporated
  • ST Microelectronics N.V.
  • Texas Instruments Incorporated

Regional Overview

  • North America
  • Europe
  • Asia-Pacific
  • South and Central America
  • Middle East and Africa

Market Segmentation

Technology
  • Wi-Fi
  • Bluetooth
  • Cellular
  • Zigbee
  • GNSS
  • Others
 End-Use
  • Industrial
  • Construction & Infrastructure
  • Energy & Utilities
  • Automotive & Transportation
  • Healthcare
  • Consumer
  • Others
  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

Wireless Connectivity Market Drivers and Opportunities

High Internet Penetration Rate to Favor Market

The rate of internet penetration in developed North American and European countries has expanded dramatically during the last decade. According to Internet World Usage Statistics, in 2022, 54.2% of Internet users were in Asia, Europe, and 66% in North America. The Middle East and Africa are having the highest growth rate in internet adoption. Internet usage on mobile devices is increasing. As internet access becomes more important, there will be a greater need for wireless smart gadgets. Over the next five years, the global number of machine-to-machine (M2M) connections is predicted to increase by more than double. M2M connections occur in manufacturing facility delivery vehicles and warehouse asset tracking systems.

Increasing Demand for Cross-Domain Applications

To fully utilize wireless technology, cross-domain skills and cooperation are essential. The IoT and cloud computing ecosystems offer exponential development prospects for organizations and businesses. Organizations can react to emerging cloud and IOT trends, as well as technology breakthroughs. Organizational performance depends on cross-sector relationships and business strategies. Huawei Technologies (China) has launched LiteOS7, a new operating system aimed at various segments such as wearable devices, smart homes, the Internet of Vehicles, smart meters, and the industrial internet. Huawei Technologies (China) expanded into multiple market categories within the IoT ecosystem. This enables the organization to target a variety of applications in IoT.

Wireless Connectivity Market Report Segmentation Analysis

Key segments that contributed to the derivation of the wireless connectivity market analysis are technology and end-use.

  • Based on technology, the wireless connectivity market is segmented into Wi-Fi, Bluetooth, cellular, ZigBee, GNSS, and others.
  • Based on end-use, the wireless connectivity market is segmented into industrial, construction & infrastructure, energy & utilities, automotive & transportation, healthcare, consumer, and others.

Wireless Connectivity Market Share Analysis by Geography

The geographic scope of the wireless connectivity market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America.  The Asia-Pacific market is expected to experience the fastest growth for wireless connectivity systems. For example, the US-China Economic and Security Review Commission estimates that government investment in smart city initiatives in China will reach USD 38.92 billion this year. The growth of smart infrastructure is likely to create new opportunities for wireless communication systems.

Wireless Connectivity Market Report Scope

Report Attribute Details
Market size in 2023 US$ 120.80 Billion
Market Size by 2031 US$ 335.96 Billion
Global CAGR (2023 - 2031) 13.6%
Historical Data 2021-2022
Forecast period 2024-2031
Segments Covered By Technology
  • Wi-Fi
  • Bluetooth
  • Cellular
  • Zigbee
  • GNSS
  • Others
By End-Use
  • Industrial
  • Construction & Infrastructure
  • Energy & Utilities
  • Automotive & Transportation
  • Healthcare
  • Consumer
  • Others
Regions and Countries Covered North America
  • US
  • Canada
  • Mexico
Europe
  • UK
  • Germany
  • France
  • Russia
  • Italy
  • Rest of Europe
Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
South and Central America
  • Brazil
  • Argentina
  • Rest of South and Central America
Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East and Africa
Market leaders and key company profiles
  • Broadcom Inc.
  • Cypress Semiconductor Corporation
  • Intel Corporation
  • Media Tek Inc.
  • Microchip Technology Incorporated
  • NXP Semiconductors N.V
  • Panasonic Corporation
  • Qualcomm Incorporated
  • ST Microelectronics N.V.
  • Texas Instruments Incorporated
    • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

    Wireless Connectivity Market News and Recent Developments

    The wireless connectivity market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market:

    • In February 2022, Verizon announced the expansion of its Internet service, allowing customers to access dependable, fast plug-and-play wireless Internet services across the country, including over 30 million homes and more than 2 million businesses.

    (Source: Verizon, Company Website, 2022)

    • In August 2022, AT&T announced intentions to expand its Fiber Internet Service to Arizona, with availability expected in 2023. The startup promised to provide fiber-based broadband rates of up to 5 gigabits per second to over 100,000 homes in and around Mesa.

      (Source: AT&T, Company Website, 2022)

    Wireless Connectivity Market Report Coverage and Deliverables

    The "Wireless Connectivity Market Size and Forecast (2021–2031)" report provides a detailed analysis of the market covering below areas:

    • Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
    • Market dynamics such as drivers, restraints, and key opportunities
    • Key future trends
    • Detailed PEST/Porter's Five Forces and SWOT analysis
    • Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
    • Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
    • Detailed company profiles
    Report Coverage
    Report Coverage

    Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

    Segment Covered
    Segment Covered

    Technology, and End-Use

    Regional Scope
    Regional Scope

    North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

    Country Scope
    Country Scope

    US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina

    Frequently Asked Questions


    What will be the market size of the global wireless connectivity market by 2031?

    The global wireless connectivity market is expected to reach US$ 335.96 billion by 2031.

    Which are the key players holding the major market share of the wireless connectivity market?

    The key players holding the majority of shares in the global wireless connectivity market are Broadcom Inc., Cypress Semiconductor Corporation, Intel Corporation, Media Tek Inc., and Microchip Technology Incorporated.

    What are the future trends of the global wireless connectivity market?

    Growing AI applications will lead to the incresing use of wireless connectivity to play a significant role in the global wireless connectivity market in the coming years.

    What are the driving factors impacting the global wireless connectivity market?

    High internet penetration rates are the major factors that propel the global wireless connectivity market.

    What is the estimated market size for the global wireless connectivity market in 2023?

    The global wireless connectivity market was estimated to be US$ 120.80 billion in 2023 and is expected to grow at a CAGR of 13.6% during the forecast period 2023 - 2031.

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