Global $141.1 Billion Wireless Connectivity Market to 2025: LPWAN-Enabled Connectivity Type Segment to Register Highest CAGR
DUBLIN, April 12, 2021 /PRNewswire/ -- The "Wireless Connectivity Market by Connectivity Technology (Wi-Fi, Bluetooth, NFC, ZigBee, GNSS, LTE CAT-M1, NB-IoT, LoRa, SigFox), Type (WLAN, WPAN, LPWAN), End-use (Wearables, Consumer Electronics, Healthcare), and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The Global Wireless Connectivity Market is Estimated to Grow from USD 69.0 Billion in 2020 to USD 141.1 Billion by 2025, at a CAGR of 15.4%.
The major factors driving the wireless connectivity industry growth are increased demand for wireless sensor networks in the development of smart infrastructure, a significant increase in the internet penetration rate, growth in adoption of the internet of things (IoT), increasing trends like work from home and virtual learning pertaining to the COVID-19 pandemic, increased demand for low-power wide-area (LPWA) networks in the IoT applications.
High power consumption by wireless sensors, terminals & connected devices, and lack of uniform communication standards act as restraints for the Wireless Connectivity market.
Growing awareness regarding energy conservation, stringent legislation and building directives, promotion of numerous smart grid technologies, and availability of a number of open protocols are further driving the growth of the building automation market.
The most advanced facility management systems use the building automation and control network protocol and ZigBee Building Automation standards. Wireless building management technologies also meet the Institute of Electrical and Electronics Engineers (IEEE) standards, which make sure that the wireless BAS system will coexist with other wireless communications systems used in the building, including Bluetooth and Wi-Fi.
Adhering to various industry standards ensures that the BAS technologies provide secure and reliable wireless monitoring and control over today's hospital and school building systems and those that will be developed in the years to come.
LoRa technology is developed and promoted by the LoRa Alliance. The alliance is an open, non-profit association that was initiated by various companies to standardize LPWAN technologies. The founding members of the LoRa Alliance include Actility (France), Cisco (US), IBM (US), Semtech (US), and other leading telecom operators. LoRa is a chirp-based, spread-spectrum technology that uses a wider bandwidth and takes a broader spectrum compared to SigFox. Thus, it is more suitable for applications that demand higher bandwidths.
The changing lifestyles (connected living) of consumers is increasing the need to stay connected everywhere and all the time. The use of Wi-Fi in consumer electronics has enabled users to control the devices. Wi-Fi has revolutionized the way in which the user interacts with these devices. All these factors are supporting the growth of the market for chipsets based on Wi-Fi technology.
The increase in the adoption of smartphones in the middle-class population in emerging economies, such as India, Indonesia, and other Southeast Asian countries, is boosting the growth of the market for connected devices based on Wi-Fi technology.
Early adoption of new technologies, such as machine-to-machine interaction, and IoT-enabled devices, along with the presence of key industrial players, would lead to high growth in the North American wireless connectivity market.
COVID-19 Impact Analysis on Wireless Connectivity Market
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