The wireless connectivity market is estimated to grow at a CAGR of 13.42%
NEW YORK, June 7, 2018 /PRNewswire/ -- The wireless connectivity market is estimated to grow at a CAGR of 13.42% between 2018 and 2023
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The wireless connectivity market is expected to reach USD 95.66 billion by 2023 from USD 50.96 billion in 2018, at a CAGR of 13.42% during the forecast period. Advancements in the telecommunications industry and high adoption of smartphones, increased demand for wireless sensor networks for creating smart infrastructure, increased demand for low-power wide-area (LPWA) networks in IoT applications, and rise in the adoption of IoT are some major factors driving the growth of the wireless connectivity market. However, the high power consumption by wireless sensors, terminals, and connected devices and lack of uniform communication standards are the restraints for the market growth.
The market for chipsets based on LTE Cat-M1 technology is expected to grow at the highest CAGR during the forecast period
LTE Cat–M1 is a cellular technology mainly designed for the Internet of Things (IoT) or machine-to-machine (M2M) communication applications.Compared to other standard cellular technologies such as 2G, 3G, or LTE Cat 1, LTE Cat-M1 enables longer battery life and extended range and deep penetration in buildings and basements.
The increase in the adoption of IoT/M2M communication solutions, the rise in the demand for longer connectivity, and the need for low-power consumption and low-cost connectivity technologies are driving the market for chipsets based on LTE Cat-M1 technology.
WLAN-enabled chipsets held the largest size of the wireless connectivity market in 2017
Modern WLANs are based on the IEEE 802.11 (Wi-Fi) standards. Wi-Fi is an obvious choice for developers due to the pervasiveness of Wi-Fi within a home environment using LANs. The exponential growth in bandwidth, along with the growing impact of Wi-Fi offload has created a significant demand for a higher throughput over a wireless local area network.
APAC is expected to exhibit highest CAGR during the forecast period
The growing demand for smartphones and PC peripherals, rising awareness on the benefits of enhanced lifestyle and increased productivity, along with the growing demand for advanced and latest wireless connectivity protocols in applications such as consumer electronics, wearables, and industrial automation tools are the factors that are likely to result in the high growth of the wireless connectivity market in this region. Moreover, governments of countries such as China, India, Japan, and South Korea are aggressively taking initiatives such as investing in R&D to encourage the adoption of the Internet of Things and related connectivity technologies in the region are expected to drive the growth of wireless connectivity market in Asia Pacific during the forecast period.
Breakdown of profile of primary participants:
• By Company Type: Tier 1 = 27%, Tier 2 = 41%, and Tier 3 = 32%
• By Designation: C-Level Executives = 26%, Directors = 40%, and Others = 34%
• By Region: North America = 47%, Europe = 28%, APAC = 19%, and RoW = 6%
Qualcomm (US), Intel (US), Broadcom (US), MediaTek (Taiwan), Texas Instruments (US), Cypress Semiconductor (US), NXP Semiconductors (Netherlands), STMicroelectronics (Switzerland), Microchip (US), and EnOcean (Germany) are the major players in the wireless connectivity market.
Research Coverage:
• The market based on connectivity technology covers as Wi-Fi, Bluetooth, Bluetooth Smart Ready, Near Field Communication, LTE Cat-m1, NB-IoT, LoRa, and Sigfox.
• The market based on type covers the wireless local area network (WLAN), wireless personal area network (WPAN), Cellular, low-power wide-area network (LPWAN), and Satellite.
• The geographic analysis is done with regard to 4 major regions—North America, Europe, APAC, and RoW. (RoW comprises South America, and the Middle East and Africa).
Reasons to Buy the Report:
From an insight perspective, this research report is focused on various levels of analysis such as industry analysis (industry trends), market ranking analysis of top players, and value chain analysis. This report also provides the company profiles, which present the basic views on the competitive landscape, emerging and high-growth segments of the studied market, high-growth regions, and market dynamics such as drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
• Market penetration: Comprehensive information on various types of connectivity technologies and type offered by the top players in the overall wireless connectivity market.
• Product development/innovation: Detailed insights regarding research and development (R&D) activities, emerging technologies, and product launches in the wireless connectivity market.
• Market development: Comprehensive information about lucrative emerging markets, along with the analysis of the markets for wireless connectivity technologies across regions.
• Market diversification: Exhaustive information about new products, untapped geographic regions, recent developments, and investments in the overall wireless connectivity market.
• Competitive assessment: In-depth assessment of the ranking analysis, strategies, products, and manufacturing capabilities of the leading players in the wireless connectivity market.
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