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The wireless connectivity market share is expected to increase by USD 53.01 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 14.10%.
This wireless connectivity market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers wireless connectivity market segmentation by type (WPAN, WLAN, and GNSS) and geography (APAC, North America, Europe, MEA, and South America). The wireless connectivity market report also offers information on several market vendors, including Broadcom Inc., Infineon Technologies AG, Intel Corp., MediaTek Inc., Microchip Technology Inc., NXP Semiconductors NV, Qualcomm Inc., Renesas Electronics Corp., STMicroelectronics NV., and Texas Instruments Inc. among others.
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"In India, the total wireless or mobile telephone subscriber base increased from 1,147.92 million in August 2020 to 1,186.72 million in August 2021."
The increase in the development of smart cities is notably driving the wireless connectivity market growth, although factors such as high switching costs may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the wireless connectivity industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Wireless Connectivity Market Driver
The increase in the development of smart cities will be one of the key factors driving the global wireless connectivity market growth. The government all over the world are investing in the development of smart cities or connected cities that will use emerging technologies such as 5G and IoT to deliver services. Such technology will boost the demand for smart devices, and sensors to improve operations and provide services such as safety and security, access to education, waste and water management, traffic management, and healthcare. Hence, rapid urbanization and the growing deployment of wireless connectivity due to the development of smart cities will positively impact the market in focus during the forecast period.
Key Wireless Connectivity Market Challenge
The high switching costs related to the process of switching from one provider to another is one of the key challenges to the global wireless connectivity market growth. The cost of switching from traditional wired networks to a wireless system will impede the adoption of wireless technology. Moreover, the procurement cost of wireless hardware products (higher than wired networks) will increase the total cost of installation. Privacy and security issues, poor infrastructure, and high switching costs will lead industries to refrain from adopting wireless connectivity, which is expected to negatively impact the market in focus during the forecast period.
This wireless connectivity market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
The parent global communications equipment market covers manufacturers of enterprise networking products, including LANs, WANs, routers, telephones, switchboards, and exchanges. Technavio also includes communications infrastructure or telecom equipment market, within the scope of the communications equipment market. Technavio calculates the global communications equipment market size by considering the revenue generated from sales of communication equipment, broadcasting equipment, telecommunications equipment, and investments made by telecommunication service providers to improve their communication infrastructure.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the wireless connectivity market encompasses successful business strategies deployed by the key vendors. The wireless connectivity market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The wireless connectivity market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Type
Customer landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
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