Wireless Connectivity Market to Reach US$ 345 Billion by 2032 with Smart Home Platform Adoption

US wireless connectivity market to reach US$ 90 Billion by 2032, driven by WSN adoption, particularly in military and defense sectors

NEWARK, DELAWARE, UNITED STATES, September 7, 2023/EINPresswire.com/ -- The Wireless Connectivity Market has undergone a remarkable transformation in recent years, becoming the backbone of our interconnected world. As our reliance on wireless technologies continues to grow, this market has experienced unprecedented innovation and expansion.

From the Internet of Things (IoT) revolutionizing smart homes and cities to 5G networks enabling lightning-fast mobile communication, the wireless connectivity market is at the forefront of shaping the digital landscape. The demand for seamless and high-speed wireless connections has never been higher, creating opportunities for companies to develop cutting-edge solutions.

Key drivers of the wireless connectivity market include the increasing adoption of connected devices, the emergence of 5G technology, and the need for efficient data transmission. These factors are propelling industries like healthcare, automotive, and manufacturing into a new era of connectivity, paving the way for advancements like telemedicine, autonomous vehicles, and smart factories.

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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. The expansion of the market can be attributed to the growing adoption of smart home platforms like Alexa to effectively manage houses and increase 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 the release of connectivity of ≥1 Gbps 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 UK 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

The market in South Korea is expected to hold a value of US$ 12 Billion during the assessment period.

“Increasing urbanization and the emergence of technologies like LTE, WPAN, and the introduction of 5G spectrum in developing countries like India, and China is boosting the adoption of wireless connectivity devices in houses and offices.,” remarks an FMI analyst.

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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
Expressiveif Systems
CEVA, Inc.
Quantenna Communications, Inc.
Peraso Technologies, Inc.
Panasonic Corporation
BehrTech
Element 14
Dialog Semiconductor
Silicon Labs

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 the Industry’s First Fully Optimized vDU Solution with up to 60% Lower Total Cost of Ownership for Operators.

In April 2021, Silicon Labs entered into a definitive asset purchase agreement to sell its Infrastructure & Automotive (I&A) business to Skyworks Solutions, Inc. for $2.75 billion 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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Key Segments Profiled in the Wireless Connectivity Market

Wireless Connectivity Market by Type:

WLAN Wireless Connectivity
WPAN Wireless Connectivity
Satellite Wireless Connectivity
LPWAN Wireless Connectivity
Cellular M2M Wireless Connectivity

Wireless Connectivity Market by End User:

Wireless Connectivity in Healthcare
Wireless Connectivity in Wearable Devices
Wireless Connectivity in Transportation and Automotive
Wireless Connectivity in Consumer Electronics
Wireless Connectivity in Building Automation
Wireless Connectivity for Other End Users

Wireless Connectivity Market by Region:

North America Wireless Connectivity Market
Latin America Wireless Connectivity Market
Europe Wireless Connectivity Market
Asia Pacific Wireless Connectivity Market
Middle East & Africa Wireless Connectivity Market

Author By:

Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management across verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.

He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client's requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.

Have a Look at the Related Reports of the Technology Domain:

Wireless Power Transmission Market: The wireless power transmission market is expected to reach US$ 293.5 Billion by 2032, as it is estimated to grow at a CAGR of 21.4% for 2022-2032.

Wireless Charging Market: Overall sales of wireless charging are likely to surge at 24.4% CAGR, taking the forecasted market valuation to US$ 150,889.5 million by the end of 2033.

Wireless Communication Technologies in Healthcare Market: Wireless Communication Technologies in Healthcare Market - Global Industry Analysis, Size and Forecast, 2016 to 2026 Overview | FMI

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Future Market Insights, Inc.
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