Wireless Communication Market - Global Industry Analysis, Growth and Forecast | Growth Market Reports

The global wireless communication market is projected to register a substantial CAGR during the forecast period, 2021–2028. The growth of the market is attributed to increasing smart device usage to access real-time data.

Wireless communication is a rapidly growing segment of the communication industry. It is a source of communication that operates wirelessly. Wireless communication improves coverage and clarity, optimizes production, and reduces downtime for reliable communication. Wireless communication allow multiple users at a time, which increases connectivity from user to user.

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Wireless communication includes technologies such as LTE, LTE-advanced, WCDMA, HSPA, GSM, CDMA, WLAN, and Bluetooth. Cellular wireless network technology is extensively used for wireless communication. It is specifically developed for radio, telephone, and mobile to replace high power transmitter/receiver systems. Mobile phones and wireless communication systems provide on-demand entertainment and information.

Wireless communication technology restructured the means of communication, transactions, and data exchange providing the path for new digital economy. Technological escalation and rising number of digital devices enhanced interfaces for real-time web surfing, and applications increased data usage through wireless networks. Thus, consumers prefer using wireless digital devices than personal computers to acquire real-time data.

Market Drivers, Restraints, Trends, and Opportunities:

• Changing consumer preferences and rapid technological advancements led to the development of operating systems and smartphones, thereby driving the wireless communication market during the forecast period.
• Growing awareness about social media led to rising adoption of wireless communication media and is expected to drive the market.
• Increasing trends of internet advertising and marketing is projected to boost the market during the forecast period.
• On the basis of current market trends and consumer preferences, smartphones are projected to be an essential utility during the forecast period.
• Extensive use of unified communication platforms by various organizations saves time and reduces distance barriers through uninterrupted mobile connectivity. This is expected to fuel the market.
• Technical issues regarding connectivity and network is expected to restrain the market during the forecast period.
• Lack of infrastructure in rural areas is projected to hamper the market growth during the forecast period.
• The emergence of COVID-19 pandemic affected raw material supply, disrupted the electronics value chain, and caused an inflationary risk on products, which in turn, is expected to hinder the market growth.

Market Segment Insights:

WPAN segment projected to constitute a considerable market share

On the basis of types, the market is segregated into WLAN, WPAN, and LPWAN. The Wireless Personal Area Network (WPAN) is projected to account for a considerable market share during the forecast period. WPAN is a small area and low bandwidth networking technology that enables communication within a short range, around 10 meters. Technologies supporting WPAN are Bluetooth, ultra-wideband (UWB), ZigBee, Z-Wave, and Thread. Zigbee creates personal area networks with low-power and small digital radios, having a transmission distance of 10-100 meters. It operates at 2.4 GHz frequency. It is preferred in applications requiring long battery life, secure networking, robustness, and low data transfer rate.

Introduction of 5th generation of Bluetooth wireless technology is driving the WPAN segment. Bluetooth 5.0 consumes low power and is two times faster than Bluetooth 4.0. Smartphones and tablets supporting the Bluetooth 5.0 standard have been introduced in the global market.

LTE-Cat-M1 segment is expected to hold a significant market share

Based on technology, the global wireless communication market is segmented into Wi-Fi, Bluetooth, Zigbee, NFC, GNSS, LTE CAT-M1, NB-IoT, LoRa, and SigFox. The LTE Cat-M1 segment is expected to expand at a high CAGR during the forecast period. LTE Cat-M1 is a technology designed for machine-to-machine (M2M) and Internet of Things (IoT) communication applications. It is a low-cost alternative to conventional LTE services such as Cat 4. LTE Cat–M1 is a low-power wide-area (LPWA) air interface, which connects M2M and IoT devices with minimal data rates. LTE Cat-M1 offers extended range, long battery life, and deep penetration in buildings and basements as compared to other technologies such as 2G, 3G or LTE Cat 1. Additionally, it supports voice over LTE (VoLTE) connectivity; which is required to support the growth in demand for voice-base interfaces in applications such as retail, transportation, building services, and health & fitness.

Consumer electronics segment estimated to account for a large market share

On the basis of end-uses, the market is divided into wearables, consumer electronics, and healthcare. The consumer electronics segment is estimated to account for a large market share during the forecast period. Rising need for latest products encouraged manufacturers to upgrade smartphones, tablets, and other similar devices. Introduction of various devices furnished with multiple connectivity technologies is driving the consumer electronics segment.

The future of consumer drones depends on continuous upgradations in photographic equipment and network infrastructure. For instance, in December 2018, drone activity grounded hundreds of flights at one of the UK’s busiest airports. Consumer robotics include robots designed for companionship, entertainment or domestic tasks.

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Regional Outlook

In terms of regions, the global wireless communication market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market in Asia Pacific is expected to hold a significant market share during the forecast period. Growth of the market is attributed to large consumer base and high adoption of digital technologies in this region. Moreover, increased demand for smart consumer devices and M2M connections per year, and Increased need for industrial revolution is projected to drive the regional market.

Competitive Landscape

Key players in the global wireless communication market include Softbank, Deutsche Telekom, Nippon Telegraph & Tel, Telstra, Telefonica, America Movil, Vodafone, Verizon Communications, AT&T, and China Mobile.

Companies are focusing on various business strategies to acquire a large consumer base. They are investing in product development to acquire maximum share in the market.

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