Dublin, April 08, 2021 (GLOBE NEWSWIRE) -- 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.
Building automation end-use is expected to hold the second-largest share of the wireless connectivity market in 2020
The increasing demand for energy-efficient solutions, enhanced security, increased venture capital funding, and constant need for improving living standards have fueled the growth of the building automation market. Building automation, which started with wired technology, has now entered the era of wireless technology with technologies such as ZigBee, Z-wave, EnOcean, Wi-Fi, and Bluetooth Smart revolutionizing the 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.
LPWAN enabled chipset is projected to be fastest-growing segment by type during the forecast period
Low-power wide-area network uses both licensed and unlicensed spectrums. SigFox and LoRa are the most widely used LPWAN technologies in an unlicensed spectrum, while NB-IoT and LTE Cat-M1 are the 2 most widely used technologies in a licensed spectrum. The extremely low power consumption and the ability of non-line-of-sight communication make LPWAN technologies ideal for industrial IoT applications.
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.
Wi-Fi enabled chipset is expected to hold the largest market share in terms of volume in 2020
Wi-Fi has remained one of the most dominant wireless connectivity technologies in consumer electronics and enterprise applications. The demand for Wi-Fi-enabled connected home devices such as video doorbells, thermostats, lighting solutions, smart TVs, refrigerators, washing machines, and music systems is increasing.
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.
North America is expected to hold the second-largest share of Wireless Connectivity market in 2020
North America held the second-largest size of the wireless connectivity market in 2019. North America is considered to be a technologically advanced region. The region has a large number of subscribers owning to more than one connected devices; the factors such as increasing automation, rising adoption of the Internet of Things (IoT) platform, increasing cellular M2M connections, and growing demand for on-demand video services would drive the wireless connectivity market growth in the region.
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.
Lpwan-Enabled Connectivity Type Segment to Register Highest CAGR Between 2020 and 2025
LTE Cat-M1 to be Fastest-Growing Connectivity Technology Segment in Terms of Volume from 2020 to 2025
Wireless Connectivity Market in APAC to Exhibit Highest CAGR Between 2020 and 2025
Increasing Demand for Wireless Sensor Networks in Development of Smart Infrastructure is Driving Growth of Wireless Connectivity Market
Consumer Electronics Segment Held Largest Share of Wireless Connectivity Market in 2019
Wi-Fi Technology Segment and China Held Largest Shares of Wireless Connectivity Market in APAC in 2019
APAC to Register Highest CAGR Between 2020 and 2025
Increasing Demand for Wireless Sensor Networks in the Development of Smart Infrastructure
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 IoT Applications
High Power Consumption by Wireless Sensors, Terminals, and Connected Devices
Lack of Uniform Communication Standards
Development of 5G Network
Significant Financial Support from Governments Across the World for R&D in the Internet of Things
Growing Need for Cross-Domain Applications
Increasing Privacy and Security Concerns in the Age of IoT
COVID-19 Impact Analysis on Wireless Connectivity Market
Cypress Semiconductor Corporation
Marvell Technology Group
Microchip Technology Inc.
Murata Manufacturing Co. Ltd.
Nexcom International Co. Ltd.
Nxp Semiconductors N.V.
Peraso Technologies, Inc.
Quantenna Communications, Inc.
Renesas Electronics Corporation
Skyworks Solutions, Inc.
Texas Instruments Incorporated
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