Wireless Connectivity Market to Reach $294 billion, Globally, by 2032 at 13.89% CAGR: Allied Market Research
WILMINGTON, Del., April 12, 2024 /PRNewswire/ -- Allied Market Research published a report, titled, "Wireless Connectivity Market by Technology (Wi-Fi, Bluetooth, Zigbee, NFC, Cellular, Others) and Application (Consumer Electronics, Automotive, Aerospace and Defense, Healthcare, IT and Telecom, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032". According to the report, the "wireless connectivity market" was valued at $80.4 billion in 2022, and is estimated to reach $294 billion by 2032, growing at a CAGR of 13.89% from 2023 to 2032.
- Based on application, the consumer electronics segment held the highest market share in 2022, accounting for more than one-fourth of the global wireless connectivity market revenue and is estimated to maintain its leadership status throughout the forecast period.
- Consumer electronics held the highest market share in the wireless connectivity market due to the widespread integration of wireless technologies like Wi-Fi and Bluetooth in smartphones, tablets, smart TVs, and wearables.
- With increasing demand for smartphones, IoT devices, and smart home solutions, the region witnessed substantial growth in wireless connectivity.
- Moreover, initiatives to improve digital infrastructure and connectivity further bolstered Asia-Pacific's position as a leading market for wireless technologies.