Wireless Connectivity Technology Market to Reach $128.47 Bn, Globally, by 2026 at 12.6% CAGR: Allied Market Research

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

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Allied Market Research

Apr 13, 2020, 10:40 ET

PORTLAND, Oregon, April 13, 2020 /PRNewswire/ -- Allied Market Research published a report, titled, "Wireless Connectivity Technology Market By Technology (Wi-Fi, Bluetooth, ZigBee, NFC, Cellular Technology, and Others), and Application (Consumer Electronics, Automotive & Transportation, Healthcare, Aerospace & Defense, IT & Telecom, and Others): Global Opportunity Analysis and Industry Forecast, 2019-2026." According to the report, the global wireless connectivity technology industry was pegged at $52.78 billion in 2019, and is expected to hit $128.47 billion by 2026, registering a CAGR of 12.6% from 2019 to 2026.

Drivers, Restraints and Opportunities

Rise in demand for wireless networks in development of smart infrastructure, increase 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 restrains the growth to some extent. However, emergence of IoT & AI technology for smart lightning is expected to create lucrative opportunities in the near future.

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The WiFi Segment to Lead the Trail By 2026

Based on technology, the WiFi segment contributed to nearly one-fourth of the global wireless connectivity technology market share in 2019, and is expected to rule the roost till 2026. Rising penetration in various industry verticals has propelled the growth. The NFC segment, on the other hand, would cite the fastest CAGR of 14.6% throughout the forecast period. High potential of NFC in data sharing, payment gateways and others boosts the growth of the segment.

The Consumer Electronics Segment to Dominate during the Estimated Period

Based on application, the consumer electronics segment held the major share in 2019, generating around one-fourth of the global wireless connectivity technology market. This is due to rise in trends toward wearable technologies. At the same time, the healthcare segment would showcase the fastest CAGR of 16.1% during the study period. High-end integration of IoT and AI in healthcare devices drives the segment growth.

Asia-Pacific Followed By North America to Retain Its Dominance in terms of Revenue

Based on geography, Asia-Pacific accounted for nearly half of the global wireless connectivity technology market revenue in 2019, and is projected to maintain the lion's share from 2019 to 2026. The same region would also manifest the fastest CAGR of 13.9% by the end of 2026. This growth is attributed to increasing technological development by emerging economies. However, North America appeared as the second highest revenue holder in 2019.

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Frontrunners in the Industry

Intel Corporation
MediaTek Inc.
NXP Semiconductors N.V.
Qualcomm Incorporated
STMicroelectronics N.V.
Cypress Semiconductor Corporation
Texas Instruments Inc.
Nexcom International
Atmel Corporation
Panasonic Corporation

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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