According to the latest report by IMARC Group, titled, “Connectivity Enabling Technology Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, The global connectivity enabling technology market size reached US$ 37.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 45.5 Billion by 2028, exhibiting a growth rate (CAGR) of 3.0% during 2022 & 2028.
Market Overview:
Connectivity-enabling technology refers to services and technologies enabling end-users to connect to communication networks. It consists of numerous components and technologies that work together to facilitate connectivity between networks, devices, and systems. It also includes network virtualization, network infrastructure, cloud computing, wireless technologies, and software-defined networking (SDN). It is a cost-effective solution that helps to improve productivity and automation, increase safety, enhance mobility, improve communications, and develop new services and products. In addition, it also exhibits security, reliability, scalability, flexibility, energy efficiency, low latency, and high bandwidth. As a result, connectivity-enabling technology is widely adopted in consumer electronics, telecommunication, and healthcare sectors.
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Connectivity Enabling Technology Market Trends and Drivers:
The market is primarily driven by the rising demand for connectivity-enabling technologies such as Bluetooth, cellular networks, and Wi-Fi that allow devices to connect to the internet. In addition, the growing digitization across several industries to allow the connection of digital machines, systems, and devices, such as smart home devices, wearables, smartphones, and industrial internet of things (IoT) devices, is contributing to the market growth. Moreover, the widespread product adoption in the healthcare industry to connect medical devices, such as blood glucose monitors, to the internet for data sharing with healthcare providers and remote patient monitoring represents another major growth-inducing factor. Besides this, the implementation of several government initiatives to enhance infrastructure and increase connectivity in rural areas is accelerating the product adoption rate. Furthermore, the increasing need for automation and remote monitoring in various industries and extensive research and development (R&D) activities conducted by key market players are also creating a positive market outlook.
Connectivity Enabling Technology Market 2023-2028 Competitive Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
- Broadcom Inc.
- LM Technologies Ltd
- Marvell Technology Inc
- MediaTek Inc.
- Newracom
- NXP Semiconductors N.V
- Qualcomm
- Renesas Electronics Corporation
- Silicon Laboratories Inc.
- STMicroelectronics N.V.
- Texas Instruments Incorporated, etc.
The report has segmented the market based on type and application.
Type Insights:
- Bluetooth
- Wi-Fi
- ZigBees
Application Insights:
- Healthcare
- Consumer Electronics
- Manufacturing Industry
- Automotive and Transportations
Breakup by Region:
- North America
- Asia-Pacific
- Europe
- Latin America
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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