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Wireless Connectivity Chipset Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

ReportLinker
ReportLinker

The Wireless Connectivity Chipset Market is expected to reach a unit shipment of 11,739 million by 2027, registering a CAGR of 8. 36% over the forecast period. The market growth is primarily due to the growing trend toward the adoption of smart home automation across the consumer sector and the increasing connectivity in the automotive industry.

New York, Nov. 03, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Wireless Connectivity Chipset Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)" - https://www.reportlinker.com/p06360571/?utm_source=GNW


Key Highlights
Wireless chipsets are designed for wireless communication devices and systems that enable the system or computers to connect through wireless means, such as Wi-Fi, Bluetooth, a combination of both, or WLAN.
With the growing penetration of high-speed internet, the adoption of connected devices and smart home applications is increasing, especially in regions such as Europe, North America, and Asia-Pacific. Some major solutions include voice assistants, smart thermostats, smart lighting, security cameras, and smart appliances.
The addition of several devices, such as in IoT, increases the surface area of a network, creating more potential attack vectors in the process. Even a single unsecured device connected to a network may serve as a point of entry for an active attack on the network.
The COVID-19 outbreak worldwide significantly disrupted the supply chain and the production of the market studied in the initial phase of 2020. Many end-user industries in the market studied were also affected due to the COVID-19 pandemic, which hurt the market.

Key Market Trends

Increasing Internet Penetration into Homes and Enterprises

Internet penetration scaled up in the modern world. According to the International Telecommunication Union, approximately 4.9 billion people, or close to 63% of the world’s population, were dependent on the internet in 2021.
Moreover, according to International Telecommunication Union, the Asia-Pacific region had the highest number of internet users worldwide in 2021, with China and India topping the list. These factors are driving opportunities for Wi-Fi vendors in homes and enterprises, increasing the demand for Wi-Fi chipsets.
The evolution of the Wi-Fi network technology allowed users to experience faster speeds and lower latency. It prompted the rapidly increasing use of data-heavy services and applications. The significant rise in the volume of data being carried by Wi-Fi networks has been primarily driven by consumer demand for video and business and consumer moves to cloud services. This factor is expected to drive the need for a wireless 5G connection that offers fast and high-capacity networks.
According to Ericsson’s Mobility Report, the monthly average usage of mobile data in North America is expected to reach 49GB per month and smartphones in 2026. A smartphone-savvy consumer base, video-rich applications, and large data plans will drive traffic growth. While there may be robust growth in traffic per smartphone in the near term, the adoption of immersive consumer 5G connections utilizing AR and VR is expected to lead to an even better growth rate in the long term.
Lower latency is also poised to enable high-speed virtual and augmented reality video without glitches or delays. Mobile connectivity can be strengthened with small cell infrastructure, densifying 5G wireless signals and improving their movement through concrete buildings and walls. Small-cell antennas will also enhance wireless connection supporting more devices on the same network simultaneously. Such developments are expected to drive the market studied.

Asia-Pacific is Expected to be the Fastest-growing Market

The outbreak of the COVID-19 pandemic partially promoted the demand for tablets in the market. Due to the COVID-19 pandemic, various educational institutions were forced to shift toward online education. This shift in the need for more extensive and convenient screen sizes is expected to promote the demand for tablets in the market, thereby increasing the demand for wireless connectivity chipsets in the market.
Various Indian multinational educational technology companies, such as Byju’s, provide their students with a tablet as a part of their educational curriculum to educate the students via digital methods along with the traditional methods of teaching.
Such initiatives by the companies in the market are expected to further promote the demand for tablets, smartphones, and other consumer electronics in the market, thereby driving the wireless connectivity chipsets market for tablets in the region during the forecast period.
The increasing demand for internet services in the Asia-Pacific region is also expected to promote the adoption of wireless connectivity chipsets in the region. As per the prime minister of India, the launch of 5G internet services in India is expected to bring new economic opportunities and societal benefits to the nation.
Due to the increasing availability and affordability of 5G smartphones and the rapid adoption of smartphones in urban and rural areas, 5G subscriptions are expected to rapidly increase to reach approximately 50 million in the region by the end of 2023.

Competitive Landscape

The Wireless Connectivity Chipset Market is fragmented, with many players like Broadcom Inc., Qualcomm Incorporated, Mediatek Inc., Intel Corporation, and Texas Instruments Incorporated. The companies are also increasing their market presence by introducing new products, expanding their operations, or entering into strategic mergers, partnerships, and acquisitions.

September 2022: The Ministry of Internal Affairs and Communications (MIC) of Japan amended the Ministerial ordinance of Japanese radio law to allow Wi-Fi systems to be used in the 6 GHz band. Japan joined the countries committed to delivering this latest Wi-Fi innovation. As a result, Wi-Fi 6E devices that use Qualcomm Technologies, Inc.’s Wi-Fi platforms can be certified for 6 GHz operations in Japan.
April 2022: Broadcom Inc. announced the sample availability of its complete end-to-end chipset solutions for the Wi-Fi 7 ecosystem, spanning Wi-Fi routers, residential gateways, enterprise access points, and client devices. These Wi-Fi 7 chips more than double the speed of Wi-Fi 6 and 6E solutions on the market while simultaneously delivering reliable low-latency communications and extended range.

Additional Benefits:

The market estimate (ME) sheet in Excel format
3 months of analyst support
Read the full report: https://www.reportlinker.com/p06360571/?utm_source=GNW

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