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Source: Allied Market Research

Wireless Connectivity Technology Market Expected to Hit $128.47 Billion by 2026, at 12.6% CAGR

Increase in demand for wireless networks in development of smart infrastructure, rise in adoption of AI assistants, and integration of IoT in surveillance cameras fuel the growth of the global wireless connectivity technology market. By technology, the WiFi segment held the major share in 2019. On the other hand, by region, Asia-Pacific would remain lucrative during the study period.

Portland, May 26, 2020 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global wireless connectivity technology market was estimated at $52.78 billion in 2019 and is anticipated to hit $128.47 billion by 2026, registering a CAGR of 12.6% from 2019 to 2026. The report provides a detailed analysis of the top investment pockets, top winning stratagems, drivers & opportunities, market size & estimations, competitive landscape, and fluctuating market trends.

Increase in demand for wireless networks in development of smart infrastructure, rise in adoption of AI assistants, and integration of IoT in surveillance cameras fuel the growth of the global wireless connectivity technology market. On the other hand, high installation and maintenance cost in wireless network system curtails down the growth to certain extent. Nevertheless, emergence of IoT & AI technology for smart lightning is anticipated to pave the way for numerous opportunities in the industry.

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COVID-19 scenario-

  • The outbreak of this pandemic has compelled people to stay at home and with the rise in work from home practice, there’s been a steep increase in the implementation of wireless connectivity technology in the residencies across the world which, in turn, has boosted the global market to a significant extent.
  • However, supply chain disruptions and delay in the manufacturing process will result in lower market forecast compared to the pre-pandemic estimation.

The report segments the market into technology, application, and region. On the basis of technology, the WiFi segment accounted for nearly one-fourth of the total market revenue in 2019, and is projected to lead the trail by the end of 2026. At the same time, the NFC segment would portray the fastest CAGR of 14.6% till 2026.  

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On the basis of application, the consumer electronics segment contributed to one-fourth of the total market share in 2019, and is expected to rule the roost till 2026. Simultaneously, the healthcare segment would cite the fastest CAGR of 16.1% throughout the forecast period.

On the basis of region, Asia-Pacific held the highest share in 2019, generating nearly half of the global market, and is also expected to retain its dominance from 2019 to 2026. The same region would also portray the fastest CAGR of 13.9% by 2026.

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The key market players analyzed in the global wireless connectivity technology market report include Intel Corporation, MediaTek Inc., NXP Semiconductors N.V., STMicroelectronics N.V.,Texas Instruments Inc., Cypress Semiconductor Corporation, Qualcomm Incorporated, Panasonic Corporation, Nexcom International, and Atmel Corporation. These market players have adhered to several strategies including partnership, expansion, collaboration, joint ventures, and others to corroborate their stand in the industry.

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