Boost in Technology Driving the Next Generation Wireless Communication Market globally
Research Reports
Apr 07, 2022
Market Overview
The global next-generation wireless communication market is expected to grow at a CAGR of 20.54% by the end of the forecast period.
The next-generation wireless community is gaining popularity as a result of the increase and necessity for enhanced modules in present communication methods. It is a solution that aids in the elimination of traditional methods for installing systems with multiple wires and systems. With the global migration to next-generation wireless communication, it is easier and more feasible for customers to transmit accurate messages and data. This has a direct correlation with infrastructure development, high internet penetration rates, and widespread adoption of drivers such as the internet of things (IoT).
The pandemic year of 2020, as well as the worldwide lockdown, harmed people’s lives, production, businesses, and industries. The need for next-generation wireless communication services increased as the world’s major important players shifted toward the concept of working from home. Wireless communication industry growth is being fueled by a stable connection, fast speed to enable working, virtual learning platforms, and much more during and after the COVID era. During the corona period, demand for wireless sensors and terminals, as well as the ubiquitous need for wireless communication, increased. As a result, even as major firms struggled to meet demand, the next-generation wireless communication industry continued to produce and meet demand on a much greater scale.
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Market Segmentation
Based on the Connectivity technology, the market is segmented into wi-fi, NFC, GNSS, UWB, SigFox, ZigBee, LoRa, NB-IoT, Thread, Z-Wave, Bluetooth classic, 4X, 5x, LTE CATM1, weightless, Telensa, Wireless highway addressable remote transducer protocol that is common as wireless HART, and much more.
Based on the Type, the market is segmented into WLAN, Cellular M2M, Satellite, LPWAN, WPAN, etc.
Based on the End-users, the market is segmented into the healthcare sector, building automation, transportation, agriculture, wearable devices, aerospace, automotive, defense, retail sectors, industrial sector, and related ones. Consumer electronics, including smartphones, laptops, tablets, routers, and other devices, can also be classified as industry end-users.
Based on the Region, the market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World (RoW).
Regional Classification
North America has a long history of technological achievements, and as a result, it is currently a dominant force in wireless communication trends. Developed countries are leading the way in making the most of available technologies. The countries of North America are next in line in Europe. European countries are leading the way in terms of product development and launch innovation. On a worldwide basis, this is creating a lot of demand. They’re also forming cooperative ventures with other businesses to expand the range of services available and take the game of wireless communication to new heights. The Asian countries are predicted to take the lead globally by the conclusion of the prediction period. They are concentrating their efforts on variables that will contribute to future innovation and expansion.
Industry News
The major key players are ZTE Corporation (China), AT&T (US), Huawei (China), Intel Corporations (US), Cisco Systems (US), Qualcomm (US), IBM Corporations (US), and NEC (Japan). About the same, there is a large and healthy expansion of IoT. With each passing year, the number of M2M connections grows.
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