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Rising Internet penetration and usage of smart devices are major factors driving wireless connectivity market revenue growth
— Emergen Research
VANCOUVER, BC, CANADA, June 27, 2023/EINPresswire.com/ — The global wireless connectivity market size reached USD 77.16 Billion in 2022 and is expected to register a revenue CAGR of 12.9% during the forecast period, according to latest analysis by Emergen Research. Market revenue growth is driven by several factors, including the increasing usage and consumption of smart devices among the population due to high data demands. In addition, the development of 5G infrastructure, particularly in automotive sector, along with increasing research and development activities by major companies and investments to upgrade 5G technology and explore 6G networks is contributing to revenue growth of the market. For instance, as per the reports of 13 December by the Government of the U.K., to enhance research and development efforts in field of next-generation wireless technology, including 5G and 6G, and improve telecoms security, the U.K. government has announced a substantial investment of £110 million. As part of this investment, three prestigious universities, namely the University of York, the University of Bristol, and the University of Surrey, will receive a combined funding of £28 million. These universities will collaborate with major telecom companies such as Nokia, Ericsson, and Samsung to jointly design and construct future networks, including 6G.
Government organizations play a vital role in shaping the wireless connectivity market. For instance, the Federal Communications Commission (FCC) in the United States regulates and allocates wireless spectrum, enabling the deployment of wireless networks. Statistics from the FCC reveal that as of 2021, there were over 400 million wireless subscriber connections in the US, highlighting the widespread adoption of wireless connectivity.
In terms of product launches, several top companies have introduced innovative wireless connectivity solutions. Apple recently launched its iPhone 13 series, featuring advanced 5G capabilities for faster wireless connectivity. Samsung unveiled the Galaxy Watch 4, which supports both Wi-Fi and cellular connectivity, enabling users to stay connected on the go. These product launches demonstrate the continuous efforts of companies to enhance wireless connectivity experiences for consumers.
The Wireless Connectivity market research report is broadly bifurcated in terms of product type, application spectrum, end-user landscape, and competitive backdrop, which would help readers gain more impactful insights into the different aspects of the market. Under the competitive outlook, the report’s authors have analyzed the financial standing of the leading companies operating across this industry. The gross profits, revenue shares, sales volume, manufacturing costs, and the individual growth rates of these companies have also been ascertained in this section. Our team has accurately predicted the future market scope of the new entrants and established competitors using several analytical tools, such as Porter’s Five Forces Analysis, SWOT analysis, and investment assessment.
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Competitive Landscape
The report presents a holistic investigation of the Wireless Connectivity business mechanism and growth-oriented approaches undertaken by the leading companies operating in this market. The report highlights the numerous strategic initiatives, such as new business deals and collaborations, mergers & acquisitions, joint ventures, product launches, and technological upgradation, implemented by the leading market contenders to set a firm foot in the market. Hence, this section is inclusive of the company profiles of the key players, total revenue accumulation, product sales, profit margins, product pricing, sales & distribution channels, and industry analysis.
Leading Players Profiled in the Report Include:
Texas Instruments Incorporated, Qualcomm Technologies, Inc., AT&T, Panasonic Corporation, Cisco Systems, Inc., Intel Corporation, Verizon, Cypress integration solutions, Deutsche Telekom AG, Broadcom
Some Key Highlights From the Report
The gateways segment is expected to account for a significantly large revenue share over the forecast period. Revenue growth of this segment is driven by several factors, including increased flexibility in connectivity, enhanced security and authentication measures, and ease of scalability and integration. Gateways play a crucial role in this growth by offering the ability to operate offline, storing and processing data locally when there is no connection to the cloud or central server. This enables devices to continue functioning and exchanging data within a local network, ensuring uninterrupted operations even during temporary disruptions in network connectivity.
The Wi-Fi segment is expected to register fastest revenue growth rate in 2022 owing to availability of high-speed connectivity, scalability, and a wider coverage range. The ease of scalability and compatibility with various devices further contributes to revenue growth of this segment. Investments in research and development activities, as well as the launch of new products and innovations in existing product lines, are also significant factors driving revenue growth of this segment.
The healthcare segment is expected to account for a significantly large revenue share over the forecast period. Revenue growth of this segment is driven by rising demand for wearable devices and the Internet of Medical Things (IoMT). The need for real-time data access and remote patient monitoring is also driving revenue growth of this segment. Furthermore, ease of mobility and flexibility provided by wireless connectivity are contributing factors. Wireless connectivity plays a vital role in enabling the remote delivery of healthcare services through telehealth and telemedicine platforms. Patients can engage in virtual consultations with healthcare professionals, receive medical guidance, and even undergo remote examinations or diagnostic procedures. Advancements in wireless technology greatly improve access to healthcare services, particularly benefiting individuals in remote areas or with limited mobility.
The market in North America accounted for largest revenue share in 2022. Revenue growth of the wireless connectivity market in this region is being driven by ongoing digital transformation across various sectors, rising demand for cloud computing and remote working, and substantial investments made by government authorities to develop 5G network infrastructure. For instance, on April 12, 2023, the Biden-Harris Administration initiated a significant investment of USD 1.5 billion to advance open and interoperable networks.
Some major companies in the global market report include Texas Instruments Incorporated, Qualcomm Technologies, Inc., AT&T, Panasonic Corporation, Cisco Systems, Inc., Intel Corporation, Verizon, Cypress integration solutions, Deutsche Telekom AG, and Broadcom.
On 13 March 2023, Blue Wireless was acquired by Wireless Logic. The acquisition of Blue Wireless by Wireless Logic expands presence in the Asia Pacific and United States regions, while also bolstering our product and service portfolio in the field of fixed wireless access.
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Emergen Research has segmented the global wireless connectivity market on the basis of type, deployment, technology, end-use, and region:
Type Outlook (Revenue, USD Billion; 2019-2032)
WLAN wireless connectivity
WPAN wireless connectivity
LPWAN wireless connectivity
Satellite wireless connectivity
Cellular M2M wireless connectivity
Deployment Outlook (Revenue, USD Billion; 2019-2032)
Control devices
Cloud
Gateways
Technology Outlook (Revenue, USD Billion; 2019-2032)
Wi-Fi
Zigbee
Bluetooth
NFC
Cellular
Others
The global Wireless Connectivity market is classified into the following regions:
North America (the U.S., Canada)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Europe (the U.K., Italy, Germany, France, Rest of EU)
Asia-Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
The Middle East & Africa (Saudi Arabia, the U.A.E., South Africa, Rest of MEA)
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Key Points Covered in This Section:
Regional contribution
Estimated revenue generation
Vital data and information about the consumption rate in all the leading regional segments
An expected rise in market share
Forecast growth in the overall consumption rate
Report Highlights:
Besides offering a vivid depiction of the global Wireless Connectivity business sphere and its fundamental operations, the latest report provides the industrial chain analysis and list down the current and future market trends and growth opportunities.
The report includes information on the present and historical market scenarios, which helps forecast the market conditions over the next eight years (2020-2027).
The report scrutinizes the salient factors influencing the growth of the market in the near future.
The strategic marketing recommendations, crucial information related to the new market entrants, and expansion plans of various businesses are poised to provide the reader with a competitive edge in the market.
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