Technology market

Wireless Connectivity Technology Market Expected to Grow with High Probability Business Opportunity by 2030

The global wireless connectivity technology market the size should go from $63,916.1 million in 2020 at $150,375.9 million by 2027, registering a CAGR of 13.0% from 2021 to 2027. Wireless connectivity is a networking technology used to connect two nodes or devices without cords, wires and cables. Wireless connectivity is a method that allows customers to avoid the costly installation of cables in properties for connectivity between systems and devices. Wi-Fi penetration in commercial, industrial and residential sectors as wireless LAN connection is driving the demand for Wi-Fi enabled smart lighting. Pre-existing structure equipped with Wi-Fi tends to use Wi-Fi connectivity for smart lights.

Moreover, the penetration of IoT-based technologies in emerging economies is lucrative to create future market opportunities. Additionally, Bluetooth is used in smart lighting setup as a wireless connectivity technology. This wireless technology connects devices and provides remote access to consumers. For example, a smart LED bulb from Svarochi provides users with Bluetooth connectivity, which helps them remotely access the device to light shade, control lighting and other features.

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Factors such as growing adoption of AI assistants, demand for wireless networks in smart infrastructure development, and integration of IoT in surveillance cameras are driving the growth of the market. However, maintenance costs and high installation in wireless network systems are hampering the growth of the market. Furthermore, the emergence of AI & IoT technology for smart lighting and the development of smart city projects, especially in the APAC region, are expected to further increase the demand for wireless connectivity technology.

Impact of COVID-19 on the Global Wireless Connectivity Technology Market

The continued spread of COVID-19 has become the biggest threat to the global economy. It is causing widespread concern and economic hardship for businesses, communities and consumers around the world. The “new normal” which includes social distancing and working from home has created challenges with regular work, daily activities, supplies and necessities resulting in delayed initiatives and missed opportunities.

The demand from the wireless communications industry is expected to grow due to factors such as increased demand for cloud services, video streaming, and increased usage of broadband. Furthermore, in the medium to long term, COVID-19 is expected to further increase the need for digital transformation and technologies such as 5G, IoT, AI, and intelligent edge computing for future optimization.

Global Wireless Connectivity Technology Market Dynamics

Drivers: the demand for wireless networks in the development of intelligent infrastructures

The development of metropolitan cities into smart cities around the world requires the interconnectivity of human and material resources. Connectivity has seen a growth from wired connections to wireless connections. Additionally, the advancement of wireless connections that have increased data transfer rates is expected to drive the market due to the wide application of wireless networks in smart infrastructure. For example, in the United States, an average commuter spends about 42 hours per year stuck in traffic, which is higher in megacities such as Los Angeles or New York. As part of this, connected traffic lights in smart cities can analyze traffic patterns and adapt in real time to reduce traffic jams and delays.

Constraints: high installation and maintenance cost in the wireless network system

The installation of wireless networks such as Wi-Fi requires an autonomous infrastructure to use all the features offered. Thus, the installation of smart lighting involves huge costs. It also uses various software and services for its connectivity and control. In addition, the maintenance of the operation and repair of the wireless network requires trained professionals, which increases the cost of maintenance. Hence, the high installation and maintenance costs of hardware and software are hampering the growth of the market.

Opportunities: Emergence of IoT and AI technology for smart lighting

Advancements in wireless technology and the rise of IoT technology for hyper-connectivity between devices in smart infrastructures are expected to increase the demand for wireless networks in smart lighting. The integration of artificial intelligence and IoT in lighting systems provides operational efficiencies such as automatic dimming and smart lighting as needed in various applications such as vertical farming, automotive interiors and smart homes. For example, vertical farming has adopted an intelligent lighting system to improve agricultural production. The use of smart lighting in this industry promotes optimal plant growth through automatic lighting adjustments. Therefore, the integration of IoT and AI in the lighting industry offers lucrative opportunities for expanding its market.

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Report scope

The study categorizes the wireless connectivity technology market based on technology, application, and region.

By Technology Outlook (Sales/Revenue, USD Million, 2017-2027)

  • Wireless
  • Bluetooth
  • ZigBee
  • NFC
  • Cellular
  • Others

By Outlook Application (Sales/Revenue, USD Million, 2017-2027)

  • Consumer electronics
  • Automotive
  • Health care
  • Aeronautics and Defense
  • IT & Telecom
  • Others

Outlook by Region (Sales, USD Million, 2017-2027)

  • North America (United States, Canada, Mexico)
  • South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
  • Europe (Germany, Italy, France, UK, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, Netherlands, Norway, Sweden, Denmark, Rest of Europe)
  • Asia-Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, Philippines, Singapore, Australia and New Zealand, Rest of Asia-Pacific)
  • The Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa, North Africa, Rest of MEA)

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The Wi-Fi segment, by technology, is expected to account for the largest market share

On the basis of technology, the market is segmented into Wi-Fi, Bluetooth, Zigbee, NFC and cellular technology, and others. The Wi-Fi segment was the biggest contributor to the market; Wi-Fi held a 25.7% market share in 2020. Wi-Fi is a popular wireless networking technology that uses radio waves to run high-speed wireless Internet and network connections. This technology is used as one of the major wireless technologies, which mainly supports the market. Wi-Fi is used to access Internet services on portable devices such as smartphones, tablets or laptops. Wi-Fi uses radio waves to transmit information at specific frequencies, mostly 2.4 GHz and 5 GHz. Wi-Fi penetration in residential, commercial and industrial sectors as wireless LAN connection is pushing the demand for Wi-Fi enabled smart lighting. Pre-existing Wi-Fi setup tends to use Wi-Fi connectivity for smart lights. Moreover, the penetration of IoT-based technologies in developing economies is lucrative to create future market opportunities.

Asia-Pacific accounts for the highest CAGR during the forecast period

On the basis of region, the global wireless connectivity technology market is analyzed across North America, Asia-Pacific, Europe, South America, Middle East & Africa. Globally, Asia-Pacific is estimated to hold the highest CAGR in the global wireless connectivity technology market over the forecast period. The Asia-Pacific wireless connectivity technology market is mainly driven by the development of cost-effective consumer electronics devices, encouraging sustainable investments in the sector. Additionally, the increased adoption of sports for health diagnosis in the region is creating lucrative opportunities for the expansion of the wireless connectivity technology market. Additionally, increased adoption of smart technologies in Asia Pacific is creating lucrative opportunities for market growth in the region.

Technological development in Asia-Pacific will drive the growth of wireless connectivity technology market. Regional growth is expected to be driven by strong demand for smartphones and smart wearables in consumer electronics. Furthermore, increasing government initiatives for building smart cities in the APAC region and upcoming long-term investments in smart technologies will drive the growth of the Asia-Pacific market. Due to increased adoption of advanced electronics, various technological advancements related to automotive and healthcare sectors are propelling the growth of the market.

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Main market players

The report’s wireless connectivity technology leaders include Intel Corporation, Qualcomm Incorporated, NXP Semiconductors NV, STMicroelectronics NV, Texas Instruments Inc., Broadcom, Panasonic Corporation, Infineon Technologies AG, Renesas Electronics, and MediaTek Inc.

These key players are adopting several strategies, such as acquisition, partnership and collaboration, new product launch and development, and business expansion to increase the wireless connectivity technology market share during the period forecast.