The Insight Partners Latest market study on "Wireless connectivity Market to 2027 - Global Analysis and Forecasts 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", the Wireless connectivity market is estimated to reach US$ 127.9 Bn by 2027 from US$ 46.1 Bn in 2018. The report includes key understanding of the driving factors of this market and also highlights the prominent players in the market and their developments.
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.
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In today’s world, with the rapid advancement in technology, existing communication network infrastructure prove to be incapable of handling the predicted surge in the number of connected devices as well as the data explosion around the globe. As a result, there is a massive demand for a more robust and reliable communication network infrastructure capable of handling this huge influx of data. Smart devices such as smartphones, wearables, etc. have become an integral part of an individual’s lifestyle in recent times and thus the use of wireless communication over Wi-Fi & cellular has also rapidly increased. The bolstering demand of IoT connectivity, security, mobile data traffic, and expansion of mobile apps is leading to the integration of cloud architecture with the mobile networks to enhance the flexible delivery of services with high speed.
The businesses around the globe are transforming rapidly with increased digitization. Innovation in technology have created a business landscape of “Disrupt or be disrupted.” Therefore, the market players are adopting different strategies such as agility, low cost, rapid deployment, and other expansion strategies. Network security and data breaches are two significant concerns for the wireless connectivity industry. Cellular M2M (Machine-to-Machine) provides the ability to connect several devices and applications by enabling fixed assets, such as electric meters, or mobile assets, such as fleet vehicles. The cellular M2M segment is composed of different communications products and development services, including cellular routers and gateways. The cellular routers provide connectivity for devices over a cellular data network. They can be used as a cost-effective alternative to fixed phone line for primary or backup connectivity for remote sites and devices. The volatile growth of the internet industry coupled with demand for mobility is fueling a rapid rise in the demand for cellular routers.
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Note – The Covid-19 (coronavirus) pandemic is impacting society and the overall economy across the world. The impact of this pandemic is growing day by day as well as affecting the supply chain. The COVID-19 crisis is creating uncertainty in the stock market, massive slowing of supply chain, falling business confidence, and increasing panic among the customer segments. The overall effect of the pandemic is impacting the production process of several industries. This report on ‘Wireless connectivity Market’ provides the analysis on impact on Covid-19 on business segments and country markets. The reports also showcase market trends and forecast to 2027, factoring the impact of Covid -19 Situation.
The global market for wireless connectivity market is anticipated to exhibit high growth in the near future. Some of the major driving factors contributing to the market growth include increasing demand for smart consumer devices and the proliferation of IoT and connected devices over the network. Also, an exponential rise in the number of wireless subscribers in India and China is expected to drive the wireless connectivity market significantly. However, the huge initial investment costs for installations and implementations coupled with data and privacy concerns in some of the leading end-use application sectors such as consumer & healthcare may adversely impact the growth of the market in the coming years. Despite the factors restraining the market growth, the surge in the number of connected devices as a result of IoT integration and also the accompanying influx of vast amounts of data post the advent of big data is projected to generate substantial demand opportunities for wireless connectivity technology implementations during the forecast period.
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.
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