(EMAILWIRE.COM, September 26, 2018 ) According to the new market research report "Wireless Connectivity Market by Connectivity Technology (Wi-Fi, Bluetooth Classic, Bluetooth Smart, NFC, ZigBee, Z-Wave, GNSS, LTE Cat-M1, NB-IoT, LoRa, Sigfox), Type (WLAN, WPAN, LPWAN), and Geography - Global Forecast to 2023", the market is expected to grow from USD 50.96 Billion in 2018 to USD 95.66 Billion by 2023, at a CAGR of 13.42% between 2018 and 2023.

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This report covers the wireless connectivity market segmented on the basis of connectivity technology, type, and geography. In terms of connectivity technology, LTE Cat-M1 is expected to grow at highest CAGR during the forecast period. The increase in the adoption of IoT/M2M communication solutions, rise in the demand for longer connectivity, and need for low-power consumption and low-cost connectivity technologies are driving the market for chipsets based on LTE Cat-M1 technology.

The market for Wi-Fi–enabled chipsets is expected to hold the largest size of the wireless connectivity market in APAC between 2018 and 2023. The increase in the penetration of smartphones in the middle-class population in emerging economies, such as India, Indonesia, and other Southeast Asian countries, is boosting the growth of the market for connected devices based on Wi-Fi technology.

In terms type, the market for cellular expected to hold the largest size of wireless connectivity market between 2018 and 2023. The government projects related to smart cities and the development proposals for the existing utility infrastructure are expected to boost the cellular M2M market during the forecast period. Over the next 5 years, cellular M2M technology is expected to be largely employed for smart metering solutions.

APAC is expected to hold the largest share of the wireless connectivity market during the forecast period. This growth of wireless connectivity in Asia Pacific is attributed to the growing adoption of smartphones and other connected consumer electronics products such as smart TVs and smart lighting solutions. Moreover, the new announcement of smart city projects in developing countries, such as India and China, wherein advanced technologies such as the Internet of Things (IoT) and machine-to-machine communication (M2M) are likely to be employed in different applications, which is expected to drive the growth of wireless connectivity market in Asia Pacific during the forecast period.

Some of the restraints for the studied market are the high power consumption by wireless sensors, terminals, and connected devices and lack of uniform communication standards.

The companies that are profiled in the report are Qualcomm (US), Intel (US), Broadcom (US), MediaTek (Taiwan), Texas Instruments (US), Cypress Semiconductor (US), NXP Semiconductors (Netherlands), and STMicroelectronics (Switzerland), Microchip (US), and EnOcean (Germany). The market also covers other players such as NEXCOM (Taiwan), Skyworks Solutions (US), Murata Manufacturing (Japan), Marvell Technology (US), Quantenna Communications (US), Renesas Electronics (Japan), Nordic Semiconductor (Norway), Ceva (US), Espressif Systems (China), Peraso Technologies (Canada).

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