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Wireless Connectivity Market size is projected to garner lucrative gains over 2021-2027 driven by the rising internet penetration, ongoing technological disruptions, expanding smartphone user base, and the advent of IoT. As of 2021, nearly 5.27 billion population uses smartphones, while 4.72 billion people around the world have access to internet.
Increasing adoption of wireless technology, like Bluetooth, Wi-Fi, and GPS is as well augmenting the growth scope of wireless connectivity market. Wireless systems generally reduce the burden of bulky cables, thus decreasing the cost of installation and operation across various business enterprises.
In fact, the emergence of 5G is as well likely to enhance the growth prospect for wireless connectivity industry. Various agencies around the world are relentlessly working towards improving the 5G infrastructure across respective economies. For instance, the Federal Communications Commission, in 2020 announced that it was a top priority for the federal regulator and regulators to make sure that the wireless industry has tools it requires to maintain U.S leadership in commercial 5G implementation.
Rising prevalence of cyberattacks, lack of standardization in communication standards, and dearth of proper knowledge and skills in the matter is projected to challenge the market growth over the forthcoming years.
Considering the type of wireless connectivity, ZigBee is estimated to emerge as a remunerative vertical across the overall market as it has the ability to create personal area networks with low power and small digital radios. The component boasts a transmission distance of 10 to 100 meters and operates at a frequency of 2.4 GHz. It is being largely used for applications that require secure networking, long battery life, low data transfer rate, and robustness.
Consumer electronics segment is projected to hold major significance in the overall wireless connectivity market expansion. This growth can be ascribed to the introduction of various devices equipped with multiple connectivity technologies like consumer robotics and consumer drones. Consumer robotics include robots developed for entertainment and performing domestic tasks.
Geographically, wireless connectivity industry is touted to see phenomenal gains from Asia Pacific, led by China and India. This can be ascribed to the umpteen initiatives undertaken by various central governments for improving the wireless connectivity infrastructure. For instance, the Union Cabinet of India recently offered a nod to the implementation of public Wi-Fi networks nationwide, under the label of Prime Minister Wi-Fi Access Network Interface (WANI) in an attempt to elevate wireless internet connectivity in the country. Moreover, the expansion of 5G networks in the region is predicted to be one of the major factors driving regional growth.
North America wireless connectivity market is as well expected to generate profitable gains over 2021 to 2027, fueled by increasing smart wireless connectivity systems and technologies like cloud computing and 5G.
Some of the prominent vendors functioning in the global business sphere of wireless connectivity market include Qualcomm, Atmel Corporation (Microchip Technology), Broadcom Inc., Intel Corporation, NXP Semiconductors N.V, Texas Instruments Incorporated, MediaTek Inc., and others. These players have been taking up various strategic initiatives like mergers, acquisitions, collaboration, new product launches and much more, to gain a strong foothold in the global industry.
In May 2021, Intel Corporation announced establishing its partnership with MediaTek and Fibocom to deliver 5G modems for laptops.
Similarly, Qualcomm Technologies and Bharti Airtel declared their collaboration to leverage former’s 5G platforms that would enable rolling out networks and offer these services in the Indian subcontinent.
The market for wireless connectivity is anticipated to grow profusely through 2027 given a massive surge in the various wireless technologies during the coronavirus pandemic. Various businesses shifted from working at office to work from home, enunciating a need for effective internet connection, thus bolstering the market dynamics.