Wireless Connectivity Market to Grow to $294 Billion by 2032
Wi-Fi and consumer electronics are expected to drive much of the growth.
The worth of the wireless connectivity market is expected to grow to $294 billion by 2032, according to a report by Allied Market Research.
The report, "Wireless Connectivity Market by Technology and Application Global Opportunity Analysis and Industry Forecast, 2023-2032", explains that the market will grow due to proliferation of smartphones, tablets, wearable devices, and smart home devices.
The report also indicates that the rise of 5G technology will help the wireless connectivity market grow. However, the report cautions that security will remain a major concern with wireless connectivity, citing the potential for data breaches, security breaches, and unauthorized access.
The report indicates that Wi-Fi will maintain its position as a leader within the wireless connectivity space in the future, based on application. In 2022, wi-fi accounted for around one-fourth of the global wireless connectivity market revenue.
Based on application, consumer electronics commanded the highest market share in the wireless connectivity market in 2022. These electronics made up more than one-fourth of of the global wireless connectivity market revenue. The integration of technologies such as Wi-Fi and Bluetooth in smartphones, tablets, smart TVs account for this trend.
