The global wireless connectivity technology market size was valued at USD 52.68 billion in 2019, and is projected to reach USD 128.86 billion by 2027, registering a CAGR of 12.8% during the forecast period of 2020 to 2027.
Wireless connectivity is referred to networking technology which is used for connection between two nodes or devices without the use of cable, cords, and wires. Wireless connectivity is a method that allows the consumers to avoid costly installation of cables within the premises for connectivity between devices and systems.
The penetration of Wi-Fi in residential, commercial, and industrial sectors as a wireless LAN connection boosts the demand for Wi-Fi enabled smart lighting. The pre-existing Wi-Fi equipped infrastructure tends to use Wi-Fi connectivity for smart lights. Further, the penetration of IoT-based technologies in the developing economies is expected to create opportunities for future market.
In addition, Bluetooth is used in smart lighting infrastructure as wireless connectivity technology. This wireless technology inter-links devices and provides users with remote access. For instance, smart LED bulb by Svarochi provides users with Bluetooth connectivity, which helps them to remotely access the device to control illumination, hue of lights, and other features.
Further, the advancement of Bluetooth technology is used to create proficient wireless connectivity. For instance, the SSL industry has built support around the open Bluetooth Mesh standard. Mesh technology has recently gained momentum due to its open connectivity nature and is extensible to cover a variety of lighting installations
Factors such as rise in demand for wireless networks in development of smart infrastructure, growth in adoption of AI assistants, and integration of IoT in surveillance cameras drives the growth of wireless connectivity technology market. However, high installation and maintenance cost in wireless network system hampers the market growth. Furthermore, emergence of IoT & AI technology and growth in development of smart city projects, especially in APAC, is expected to create lucrative opportunities.
Top Impacting Factors
The factors such as demand for wireless networks in development of smart infrastructure, growth in adoption of AI assistants, and integration of IoT in surveillance cameras drives the growth of wireless connectivity technology market. However, high installation and maintenance cost in wireless network system hampers the wireless connectivity technology market growth.
Furthermore, emergence of IoT & AI technology for smart lightning and growth in development in smart city projects, especially in APAC is expected to further increase demand for wireless connectivity technology.
The Demand for Wireless Networks in Development of Smart Infrastructure
The development of metropolitan cities into smart cities across the world demands inter connectivity of human and material resources. The connectivity has witnessed development from wired connections to wireless connections. Further, the advancement of wireless connections that has increased data transfer rate is expected to drive the growth of wireless connectivity technology market due to wide application of wireless networks in smart infrastructures.
For instance, in the U.S. average commuter spends about 42 hours a year stuck in traffic, which is higher in mega cities such as such as Los Angeles or New York. Wherein, smart cities connected traffic lights can analyze traffic patterns and adjust in real-time to reduce congestion and delays.
Integration of IoT in Surveillance Cameras
IoT is expanding at a rapid rate and is expected to grow over the coming years at a constant pace. There are estimated to be around 20 billion connected devices worldwide by 2020. Integration of IoT in video surveillance for security and monitoring offers greater visibility over asset monitoring to improve security and prevent critical loss through real-time surveillance. This feature ensures secured monitoring facility from any location with Wi-Fi access, security alerts, and real-time data capturing.
For instance, integration of IoT in video surveillance assist in the working of Intelligent transportation system. Rise in demand for integrated security and monitoring in traffic management system and network encourages the governments of various countries to deploy smart monitoring system for the intelligent transport model. This in turn supplement the growth of wireless connectivity market globally.
Growth in Development in Smart City Projects, Especially in APAC
Globally, governments have played a major role in smart cities market through its regulations and initiatives focused on deployment of smart services as a major part of their infrastructure.
For instance, General Services Administration’s (GSA) Smart Buildings Initiative started in May 2012, which was aimed to reduce costs and promote smart services with modernized federal government buildings in large parts through connected technologies. This is one such major project recorded in the recent years.
Moreover, governments in emerging economies in APAC such as China, South Korea, Dubai, India, Singapore, and Japan, are aimed toward smart development of their economies. Further, China has announced 500 smart cities pilot projects, which is again a huge investment by the government in the region. The policies by governments in the APAC region are expected to provide wireless connectivity technology market opportunity, owing to the development of smart cities.
The wireless connectivity market players profiled in the report include Qualcomm Incorporated, Intel Corporation, NXP Semiconductors N.V., Texas Instruments Inc., STMicroelectronics N.V., Cypress Semiconductor Corporation, Panasonic Corporation, Nexcom International, Atmel Corporation and MediaTek Inc.
These key players adopt several strategies such as, new product launch and development, acquisition, partnership, collaboration, and business expansion to increase the wireless connectivity technology market share during the forecast period.
The Wireless Connectivity Technology market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Wireless Connectivity Technology market for the base year 2019 and the forecast between 2020 and 2027. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Wireless Connectivity Technology market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Wireless Connectivity Technology market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Wireless Connectivity Technology market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Wireless Connectivity Technology capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Wireless Connectivity Technology by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Wireless Connectivity Technology market. These figures have been provided in terms of both revenue and volume for the period 2016 to 2027. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Wireless Connectivity Technology market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Wireless Connectivity Technology market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Wireless Connectivity Technology industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
Wireless Connectivity Technology market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Wireless Connectivity Technology market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Wireless Connectivity Technology market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Wireless Connectivity Technology market. These factors have benefited the growth of the global market for Wireless Connectivity Technology. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Wireless Connectivity Technology. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Wireless Connectivity Technology are as follows:
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- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are: