Wireless Connectivity Technology Market worth USD 150,375.9 million by 2027

The Market Statsville Group (MSG) publishes the new report on the "Wireless Connectivity Technology Market by Technology (Wi-Fi, Zigbee, Bluetooth, NFC, Cellular, and Others), by Application (Consumer Electronics, Automotive, Healthcare, Aerospace and Defense, IT & Telecom, and Others), by Region – Global Share and Forecast to 2027". The global wireless connectivity technology market size is expected to grow from USD 63,916.1 million in 2020 to USD 150,375.9 million by 2027, at a CAGR of 13.0% during the forecast period. IoT is growing rapidly and is expected to grow over the coming years. There are expected to be around 20 billion connected devices worldwide by December 2020. Integration of IoT in video surveillance for security and monitoring offers greater visibility over asset monitoring to improve safety and prevent critical loss through real-time management. This feature ensures a secured monitoring facility from any location with Wi-Fi access, security alerts, and real-time data capturing. For instance, the integration of IoT in video surveillance assists in working the intelligent transportation system. The rise in demand for integrated security and monitoring in the traffic management system and network encourages the governments of several countries to deploy smart monitoring systems for the intelligent transport model. This, in turn, the growth of the wireless connectivity technology market globally.

Global Wireless Connectivity Technology Market Segmentation

The overall wireless connectivity technology market has been segmented into technology, application, and region.

• By Technology (Wi-Fi, Zigbee, Bluetooth, NFC, Cellular, and Others)
• By Application (Consumer Electronics, Automotive, Healthcare, Aerospace and Defense, IT & Telecom, and Others)
• By Region (US, Mexico, Canada, Germany, France, UK, Italy, Spain, China, India, South Korea, Japan, Southeast Asia, Australia, Saudi Arabia, Peru, South Africa, Qatar, UK, Nigeria, Israel, Brazil, Argentina)

The consumer electronics segment, by application, is estimated to hold the largest market share during the forecast period

The global wireless connectivity technology market based on application is categorized into consumer electronics, automotive & transportation, healthcare, aerospace & defense, IT & telecom, and others. The consumer electronics segment was the highest contributor of 24.7% in the global wireless connectivity technology market in 2020. Consumer electronics refers to home electronics devices. These devices are developed for everyday use—for instance, smartwatch, smart hearables, and others. The incorporation of wireless connectivity with electronic wearable devices drives the market.

The rise in investment in R&D on wearable devices is lucrative to create opportunities for wireless connectivity in the future. For instance, wireless in-ear computational earpieces are an example of intelligence IoT integrated amplification devices adopted recently and rapidly. An example is Apple’s AirPods, smart earbuds that connect to Apple devices and integrate with Siri via voice commands. Similarly, Google’s Pixel Buds give users direct access to the Google Assistant, connected over wireless connectivity, Bluetooth. Google Assistant seamlessly connects users to information stored in Google platforms, such as email and calendar management.

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North America accounts for the largest market share in wireless connectivity technology market 2020

Based on the regions, the global wireless connectivity technology market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. North America was the highest revenue contributor of 37.2% in the global wireless connectivity technology market in 2020 and was anticipated to maintain its dominance throughout the forecast period. North America includes countries such as the U.S., Canada, and Mexico. North America is a major contributor, owing to advancements in technologies, innovations, and investments in the wireless connectivity industry in the region, which increases its market demand.

The growth of the wireless connectivity technology market in North America is attributed to increasing portable technologies' adoption under various applications in the region. In addition, the rise in the adoption of smartphones and smart wearables coupled with increased investment in the government also boosted the growth of the wireless connectivity technology market. Furthermore, an increase in investment in consumer electronics, aerospace, and defense, along with technological advancement in the healthcare industry, is expected to drive market growth during the forecast period.

This research report includes a study on the development and marketing strategies, along with a study on the product portfolios and winning strategies of the leading companies operating in the wireless connectivity technology market. It also consists of leading companies such as NXP Semiconductors N.V., Qualcomm Incorporated, STMicroelectronics N.V., Intel Corporation, Texas Instruments Inc., Broadcom, Infineon Technologies AG, Renesas Electronics, Panasonic Corporation, and MediaTek Inc.

Browse complete report: https://www.marketstatsville.com/wireless-connectivity-technology-market

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