Press Release / Technology / Wireless Connectivity Market : Increased Demand for Wireless Sensor Networks for Creating Smart Infrastructure
Wireless Connectivity Market : Increased Demand for Wireless Sensor Networks for Creating Smart Infrastructure
By prashant on December 12 2019 | 588 Views
The global wireless connectivity market to grow from USD 51.0 billion in 2018 to USD 95.7 billion by 2023, at a CAGR of 13.4% between 2018 and 2023
The global wireless connectivity market to grow from USD 51.0 billion in 2018 to USD 95.7 billion by 2023, at a CAGR of 13.4% between 2018 and 2023. Major drivers for the growth of the wireless connectivity market include increased demand for wireless sensor networks for creating smart infrastructure, increased demand for low-power wide-area (LPWA) networks in IoT applications, significant increase in the internet penetration rate, rise in the adoption of IoT, and rising demand for low-power wide-area networks (LPWAN). Moreover, growing adoption of GNSS in automotive and transportation, wearable devices, and aerospace & defense because of its ability to record high-precision data is expected to drive GNSS market in wireless connectivity.
By connectivity technology, chipsets based on LTE-Cat M1 technology for Wireless Connectivity grow fastest in coming years
The increase in the adoption of IoT/M2M communication solutions, the rise in the demand for longer connectivity, and the need for low-power consumption and low-cost connectivity technologies are driving the market for chipsets based on NB-IoT and LTE Cat M1 technologies. LTE Cat M1 is a low-power, LPWAN technology that competes directly with other LPWAN networks such as LoRa, Sigfox, and NB IoT. LTE-M is a strong LPWA technology choice for IoT applications, which requires higher data rates, low latency, full mobility, and voice in typical coverage situations. Thus, it supports IoT applications that require low-to-medium data rate needs.
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By type, cellular M2M held the largest size of Wireless Connectivity Market in 2018
Cellular M2M wireless connectivity is widely used in process industries for manufacturing, home appliances, healthcare device management, and utility management applications. The government projects related to smart cities and the development proposals for the existing utility infrastructure are expected to boost the cellular M2M market during the forecast period. Over the next 5 years, cellular M2M technology is expected to be largely employed for smart metering solutions.
APAC to witness the highest growth within the global Wireless Connectivity market during the forecast period
The main factors contributing toward the growth of the Wireless Connectivity Market in APAC include rising number of new smartphone users every year, the growing demand for smart consumer devices from developing countries, and the ongoing advancements in industrial communication. The announcement of smart city projects in developing countries such as India and China, wherein advanced technologies such as the Internet of Things (IoT), machine-to-machine communication (M2M) are likely to be employed in different applications, is expected to drive the growth of wireless connectivity market in Asia Pacific during the forecast period
Major players in the wireless connectivity market include Qualcomm (US), Intel (US), Broadcom (US), MediaTek (Taiwan), Texas Instruments (US), Cypress Semiconductor (US), NXP Semiconductors (Netherlands), and STMicroelectronics (Switzerland), Microchip (US), and EnOcean (Germany). The market also covers other player such as NEXCOM (Taiwan), Skyworks Solutions (US), Murata Manufacturing (Japan), Marvell Technology (US), Quantenna Communications (US), Renesas Electronics (Japan), Nordic Semiconductor (Norway), CEVA (US), Espressif Systems (China), Peraso Technologies (Canada).
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