Wireless Connectivity Market

Global Wireless Connectivity Market Size, Share & Trends Analysis Report By Technology (Wi-Fi, Cellular, Bluetooth, NFC, Zigbee and Others), By Application, By Regional Outlook and Forecast, 2024 - 2031

Report Id: KBV-23129 Publication Date: June-2024 Number of Pages: 242
USD 88.1 Billion
USD 236.6 Billion
Historical Data
2020 to 2022

Market Report Description

The Global Wireless Connectivity Market size is expected to reach $236.6 billion by 2031, rising at a market growth of 13.4% CAGR during the forecast period.  

Zigbee is a low-power, low-data rate wireless communication technology ideal for IoT (Internet of Things) devices and applications. Zigbee's capacity to offer energy-efficient and dependable connectivity for a diverse array of IoT devices, such as smart home devices, industrial sensors, and healthcare monitors, is one of the primary factors contributing to its increasing demand. Therefore, the Zigbee segment is expected to capture 1/5th revenue share in the market by 2031. Additionally, Zigbee's mesh networking capability extends the network's range and enables devices to communicate with one another, rendering it appropriate for large-scale IoT deployments.

Wireless Connectivity Market Size - Global Opportunities and Trends Analysis Report 2020-2031

The major strategies followed by the market participants are Product Launches as the key developmental strategy to keep pace with the changing demands of end users. For instance, In April, 2023, Texas Instruments announced the launch of two new Wi-Fi 6 companion chips, the CC3300 and CC3301. The CC330X series integrates seamlessly with various embedded systems, enhancing interoperability and design flexibility for IoT applications. Additionally, In June, 2024, STMicroelectronics launched the STM32WL5MOC, a System-in-Package (SiP) module featuring the dual-core STM32WL55JC wireless SoC.

KBV Cardinal Matrix - Market Competition Analysis

Based on the Analysis presented in the KBV Cardinal matrix; Broadcom, Inc. is the forerunner in the Wireless Connectivity Market. In June, 2023, Broadcom Inc. announced its FiFEM devices for Wi-Fi access points, featuring FBAR filter technology for 5 GHz and 6 GHz band coexistence, reduced RF front-end power by up to 40%, and optimized design for Wi-Fi 7 AP systems. Companies such as Qualcomm Incorporated, Texas Instruments, Inc. and STMicroelectronics N.V. are some of the key innovators in Wireless Connectivity Market.

Wireless Connectivity Market - Competitive Landscape and Trends by Forecast 2031

Market Growth Factors

E-commerce platforms and digital services rely heavily on reliable and fast wireless connectivity to facilitate seamless transactions, enhance customer interactions, and ensure the smooth operation of their platforms. The rapid expansion is fueled by the increasing number of internet users, growing smartphone penetration, and the convenience offered by online shopping. In China, e-commerce giant Alibaba has revolutionized the retail landscape with its vast online marketplace. Thus, as more consumers shift towards online shopping and digital services, the demand for robust wireless networks has surged, driving market growth.

Recognizing the strategic importance of robust wireless networks, governments are launching comprehensive programs and policies to facilitate the deployment of advanced wireless technologies, enhance connectivity, and bridge the digital divide. One of the most prominent examples of government commitment to wireless connectivity is the European Union's (EU) Digital Strategy. The EU has promoted digital transformation through initiatives like the "Digital Compass," which outlines ambitious targets for digital infrastructure, skills, and public services. By providing the foundation and promoting user adoption, governments are helping to create a thriving ecosystem for these technologies. This, in turn, benefits businesses that develop and sell wireless connectivity solutions, ultimately accelerating the overall market growth.

Market Restraining Factors

The nature of wireless communication, which relies on radio waves to transmit data, makes it susceptible to interception by unauthorized parties. This vulnerability is particularly concerning for sensitive applications such as healthcare and finance, where the confidentiality and integrity of data are paramount. A breach in these sectors can have serious consequences, including compromised patient records or financial information. These attacks can disrupt wireless services, compromise data integrity, and result in financial losses. For instance, a DoS attack on a wireless network can overwhelm the network with traffic, causing it to become unavailable to legitimate users. Hence, security concerns may deter the adoption of wireless connectivity technologies.

Wireless Connectivity Market Share 2023

The leading players in the market are competing with diverse innovative offerings to remain competitive in the market. The above illustration shows the percentage of revenue shared by some of the leading companies in the market. The leading players of the market are adopting various strategies in order to cater demand coming from the different industries. The key developmental strategies in the market are Product Launches and Product Expansions.

Driving and Restraining Factors
Wireless Connectivity Market
  • Rapid Adoption of Internet of Things (IoT) Devices
  • Rise Of E-Commerce and Digital Services
  • Increasing Support from Government Initiatives and Investments
  • Substantial Concerns Regarding Security
  • High Cost of Deploying and Upgrading Wireless Infrastructure
  • Rising Adoption of Connected Vehicles
  • Rapid Expansion of Smart Cities Globally
  • Issues Regarding the Compatibility of Different Wireless Technologies and Devices
  • Challenges Associated with Spectrum Congestion

Application Outlook

On the basis of application, the market is classified into consumer electronics, automotive, aerospace & defense, healthcare, IT & telecom, and others. The consumer electronics segment recorded 1/4th revenue share in the market in 2023. This segment encompasses many devices that rely on wireless connectivity, including smartphones, laptops, tablets, smart TVs, wearables, and more. These devices rely on wireless connectivity technologies such as Wi-Fi, Bluetooth, and NFC to enable seamless communication and data exchange, driving the demand for wireless connectivity solutions.

Wireless Connectivity Market Share and Industry Analysis Report 2023

Technology Outlook

Based on technology, the market is characterized into Wi-Fi, Bluetooth, Zigbee, NFC, cellular, and others. The cellular segment procured 22% revenue share in the market in 2023. The demand for cellular connectivity has increased due to smartphones and other mobile devices, which rely on cellular networks for voice and data communication. The increasing adoption of IoT (Internet of Things) devices and applications drives the demand for cellular connectivity. Cellular connectivity provides a reliable and scalable solution for connecting IoT devices, enabling real-time data collection, monitoring, and control across various industries such as healthcare, transportation, and manufacturing.

Free Valuable Insights: Global Wireless Connectivity Market size to reach USD 236.6 Billion by 2031

By Regional Analysis

Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Asia Pacific segment procured 38% revenue share in the market in 2023. Several factors, including the rapid urbanization and industrialization of countries like China, India, and Japan, have contributed to the increase in demand for wireless connectivity solutions.

Market Competition and Attributes

Wireless Connectivity Market Competition and Attributes

The wireless connectivity market is highly competitive, driven by rapid technological advancements and increasing demand for seamless connectivity. Key players such as Qualcomm, Intel, Broadcom, and MediaTek dominate the market, continuously innovating to offer faster, more reliable solutions. Emerging technologies like 5G, Wi-Fi 6, and IoT are intensifying the competition, with companies investing heavily in research and development to gain a competitive edge. Startups and smaller firms also contribute to the competitive landscape by introducing niche solutions and disruptive technologies. Strategic partnerships, mergers, and acquisitions are common as companies seek to expand their market share and enhance their technological capabilities.

Wireless Connectivity Market Report Coverage
Report Attribute Details
Market size value in 2023 USD 88.1 Billion
Market size forecast in 2031 USD 236.6 Billion
Base Year 2023
Historical Period 2020 to 2022
Forecast Period 2024 to 2031
Revenue Growth Rate CAGR of 13.4% from 2024 to 2031
Number of Pages 242
Number of Tables 323
Report coverage Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competitive Landscape, Market Share Analysis, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives
Segments covered Technology, Application, Region
Country scope
  • North America (US, Canada, Mexico, and Rest of North America)
  • Europe (Germany, UK, France, Russia, Spain, Italy, and Rest of Europe)
  • Asia Pacific (China, Japan, India, South Korea, Malaysia, Australia, and Rest of Asia Pacific)
  • LAMEA (Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA)
Companies Included Broadcom, Inc., STMicroelectronics N.V., Murata Manufacturing Co., Ltd., Texas Instruments, Inc., Infineon Technologies AG, Intel Corporation, Microchip Technology Incorporated, MediaTek, Inc., NXP Semiconductors N.V., Qualcomm Incorporated (Qualcomm Technologies, Inc.)
Need a report that reflects how COVID-19 has impacted this market and its growth? Download Free Sample Now

Recent Strategies Deployed in the Market

  • 2024-May: Microchip Technology broadened its Bluetooth Low Energy lineup by releasing 12 new products, including the RF-ready WBZ350 module and PIC32CX-BZ3 SoC, easing integration challenges across a spectrum of designs. These additions cater from basic to advanced needs, offering developers flexibility, reduced development costs, and simplified integration, backed by Microchip's extensive support and wireless expertise.
  • 2024-Feb: Infineon Technologies AG unveiled CYW20822-P4TAI040, a Bluetooth module designed to enhance low-power and long-range wireless connectivity in IoT and consumer electronics. This cost-effective module supports Bluetooth low-energy long-range (LE-LR) and is ideal for applications such as industrial IoT, smart home, asset tracking, beacons, sensors, and medical devices.
  • 2024-Feb: NXP Semiconductors unveiled its new A-class series of microcontroller units (MCUs) under the MCX portfolio, featuring the MCX A14x and A15x families. These low-cost and low-power MCUs are designed for intelligent edge applications in industrial IoT, smart homes, and smart cities. They leverage Arm Cortex-M33 cores, offer up to 1MB of flash memory, and support various connectivity interfaces like MIPI-I3C, I2C, and SPI.
  • 2024-Jan: STMicroelectronics launched the STM32WL5MOC, a System-in-Package (SiP) module featuring the dual-core STM32WL55JC wireless SoC. This module simplifies RF design, reduces costs, and accelerates time to market for IoT applications like remote metering and monitoring.
  • 2023-Dec: Intel launched the Intel Core Ultra processor family, featuring Wi-Fi 6E and Wi-Fi 7 for high-speed connectivity. The platform supports AI-based optimization software and aims to integrate AI seamlessly across applications, enhancing user experiences with advanced connectivity and performance, especially for premium laptops.

List of Key Companies Profiled

  • Broadcom, Inc.
  • STMicroelectronics N.V.
  • Murata Manufacturing Co., Ltd.
  • Texas Instruments, Inc.
  • Infineon Technologies AG
  • Intel Corporation
  • Microchip Technology Incorporated
  • MediaTek, Inc.
  • NXP Semiconductors N.V.
  • Qualcomm Incorporated (Qualcomm Technologies, Inc.)

Wireless Connectivity Market Report Segmentation

By Technology

  • Wi-Fi
  • Cellular
  • Bluetooth
  • NFC
  • Zigbee
  • Others

By Application

  • Consumer Electronics
  • IT & Telecom
  • Automotive
  • Healthcare
  • Aerospace & Defense
  • Others

By Geography

  • North America
    • US
    • Canada
    • Mexico
    • Rest of North America
  • Europe
    • Germany
    • UK
    • France
    • Russia
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Malaysia
    • Rest of Asia Pacific
    • Brazil
    • Argentina
    • UAE
    • Saudi Arabia
    • South Africa
    • Nigeria
    • Rest of LAMEA

Frequently Asked Questions About This Report

This Market size is expected to reach $236.6 billion by 2031.

Rapid Adoption of Internet of Things (IoT) Devices are driving the Market in coming years, however, Substantial Concerns Regarding Security restraints the growth of the Market.

Broadcom, Inc., STMicroelectronics N.V., Murata Manufacturing Co., Ltd., Texas Instruments, Inc., Infineon Technologies AG, Intel Corporation, Microchip Technology Incorporated, MediaTek, Inc., NXP Semiconductors N.V., Qualcomm Incorporated (Qualcomm Technologies, Inc.)

The expected CAGR of this Market is 13.4% from 2023 to 2031.

The Wi-Fi segment is leading the Market by Technology in 2023; thereby, achieving a market value of $54.1 billion by 2031.

The Asia Pacific region dominated the Market by Region in 2023; thereby, achieving a market value of $92.2 billion by 2031.



Call: +1(646) 600-5072


  • Buy Sections of This Report
  • Buy Country Level Reports
  • Request for Historical Data
  • Discounts Available for Start-Ups & Universities

Unique Offerings Unique Offerings

  • Exhaustive coverage
  • The highest number of Market tables and figures
  • Subscription-based model available
  • Guaranteed best price
  • Support with 10% customization free after sale

Trusted by over
5000+ clients

Our team of dedicated experts can provide you with attractive expansion opportunities for your business.

Client Logo