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The Connectivity market is projected to grow from USD 109.3 billion in 2022 to USD 199.3 billion by 2027; it is expected to grow at a CAGR of 12.8% from 2022 to 2027
Presents Wireless Connectivity Market by Connectivity (Wi-Fi, Bluetooth Classic, Bluetooth 4X, Bluetooth 5X, ZigBee, Z-Wave, UWB, NFC, Thread, GNSS, Cellular, EnOcean, Sigfox, LoRa, LTE Cat-M1, NB-IoT), End-use and Region - Global Forecast to 2027
Wireless
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The LPWAN segment is projected to grow at the highest CAGR in the Wireless Connectivity market from 2022 to 2027.
Low-power wide-area network (LPWAN) uses both unlicensed and licensed spectrums. Sigfox, LoRa, LTE-M, NB-IoT, EnOcean, and others are covered under its scope. Of these technologies, NB–IoT and LTE Cat–M1 are creating major market opportunities as both are gaining accelerated adoption in M2M connections on factory floors. LPWAN is estimated to grow by four times by the end of projected period.
uninterrupted monitoring outside the hospital, and reduced recovery time by
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The wearable devices segment of the Wireless Connectivity market is expected to foresee healthy growth rate The most advanced wearable devices enable the wearer to take and view pictures, record videos, read text messages and emails, respond to voice commands, and browse the web. The primary technologies gaining traction among wearable devices are NFC, usually used for data transfer, Bluetooth Low Energy (BLE), which requires very low power, Wi-Fi with a better range as compared to other shortrange communication techs, and Cellular, the most widely adopted one.
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The use of wireless-enabled wearable devices offers several benefits for healthcare workers, e.g., reduced cable clutter, fewer accessories requiring infection control, increased patient comfort via smaller wearable devices,
Europe region is expected to hold the third-largest share in the market during the forecast period.
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The European market includes some of the key countries that are increasingly adopting major technologies like the Internet of Things (IoT) through Industry 4.0, and connected healthcare and wearable devices. Europe has witnessed tremendous success in 3G and 4G mobile communications. With the development of smart cities, the demand for wireless technologies and standards has gained momentum in Europe.
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The key players operating in the Wireless Connectivity market include Intel Corporation (US), Texas Instruments Incorporated (US), Qualcomm Incorporated (US), Broadcom (US), STMicroelectronics N.V. (Switzerland), NXP Semiconductors N.V. (Netherlands), Microchip Technology Inc. (US), MediaTek Inc. (Taiwan), and Renesas Electronics Corporation (Japan) were the companies that dominated the wireless connectivity market in 2021.
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