Wireless Connectivity Market worth $141.1 billion by 2025 - Exclusive Report by MarketsandMarkets™
CHICAGO, Oct. 15, 2020 /PRNewswire/ -- According to the new market research report "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", published by MarketsandMarkets™, the Wireless Connectivity Market size is estimated to grow from USD 69.0 billion in 2020 to USD 141.1 billion by 2025, at a CAGR of 15.4%. Major driving factors for the Wireless Connectivity industry are the 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.
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Bluetooth 5X enabled chipset to hold the largest volume share of the wireless connectivity market in 2025
Bluetooth 5.0 is the latest version of the Bluetooth wireless communication standard. It is commonly used for wireless headphones and other audio hardware, as well as wireless keyboards, mice, and game controllers. Bluetooth is also used for communication between various smart home and Internet of Things (IoT) devices. With Bluetooth 5.0, devices can use data transfer speeds of up to 2 Mbps, which is double what Bluetooth 4.2 supports. Devices can also communicate over distances of up to 800 feet (or 240 meters), which is four times the 200 feet (or 60 meters) allowed by Bluetooth 4.2.
Bluetooth 5.0 is gaining traction in IoT applications. Its extensive adoption will be in smart home beacon, connected home, and wearable applications. Apart from these, the Bluetooth 5.0 technology is used in other growing applications such as wireless speakers and high-quality audio systems, car audio systems/hands-free pairing with mobile devices, virtual reality and augmented reality devices, and high definition audio and video streaming. All these factors high growth rate of Bluetooth 5.0 than their preceding technologies.
Consumer electronics end-use to hold the largest share of the wireless connectivity market in 2025
With the evolution of consumer appliances that can connect to the Internet and smartphones, the growth of wireless connectivity in the consumer electronics segment is expected to receive a boost. Given the large population base in some of the developing economies, such as China, India, and Thailand, there has been an increased number of new M2M connections per year in the APAC region. Therefore, the demand for smart consumer devices is higher in this region. Due to an increase in the penetration of the Internet in developing Asian countries, paired with the changing lifestyle of consumers, the uptake of smart home devices has increased in the region. Increasing requirement o comfort and convenience has considerably surged the demand for smart devices.
Tri-Band Wi-Fi enabled chipset is projected to hold a major share in Wireless Connectivity Market in terms of volume from 2020 to 2025
The tremendous success of Dual-Bands and the growth of Wi-Fi and LTE unlicensed (LTE-U) bands over the past 4 years has led to the increased congestion over the 5 GHz band. Wi-Fi deals with huge data and hence attract network congestion. Disruptions caused by the high network congestion over the 5 GHz frequency band results in lower data throughput, increased power consumption, and a higher degree of latency owing to repetitive requests for retransmits that keep Wi-Fi devices in higher power transmit modes for a longer duration. With severe congestion, Wi-Fi service reliability has become a critical issue for wireless device manufacturers.
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China to hold the largest share of APAC Wireless Connectivity market in 2025
China is witnessing high adoption of the Internet of Things platform owing to the financial and strategic involvement of the government in R&D of IoT-related technologies. The Chinese government is committed to developing this concept and has already invested more than USD 10 billion in the IoT and related technologies since October 2010. As China is a major hub of semiconductor fabrication and manufacturing industries, its involvement in the implementation and development of the Industrial Internet of Things (IIoT) and supporting wireless connectivity technologies is crucial for the growth of these markets.
The country has signed framework agreements with International Business Machines Corporation (US) to develop intelligent cities. Many governments have invested heavily in building computing and supercomputing centers. The State Grid Corporation of China and the Southern Power Grid Corporation have drawn plans for the development of smart power grids and carried out demonstrations; however, these demonstrations were mostly done by power grid companies, without the participation of stakeholders.
Key players in the market are Intel Corporation (US), Texas Instruments Incorporated (US), Qualcomm Incorporated (US), Broadcom (US), STMicroelectronics N.V. (Switzerland), NXP Semiconductors N.V. (Netherlands), Microchip Technology Inc. (US), MediaTek Inc. (Taiwan), Cypress Semiconductor Corporation (US), Renesas Electronics Corporation (Japan), EnOcean (Germany), Nexcom International Co., Ltd. (Taiwan), Skyworks Solutions, Inc. (US), Murata Manufacturing Co., Ltd. (Japan), Marvell Technology Group (Bermuda), Nordic Semiconductor (Norway), Expressif Systems (China), CEVA, Inc. (US), Quantenna Communications, Inc. (US), Peraso Technologies, Inc. (Canada), Panasonic Corporation (Japan), BehrTech (Canada), Element 14 (Singapore), Dialog Semiconductor (UK), and Silicon Labs (US) These players are increasingly undertaking product launches and developments, and acquisitions to develop and introduce new technologies and products in the market
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