5G-powered Digital Economy Catalyzing the Global Wireless Technology Market, 2020–2024

5G-powered Digital Economy Catalyzing the Global Wireless Technology Market, 2020–2024

IoT, SDN, and Low-power Consuming Wireless Technologies to Drive Growth Opportunities

RELEASE DATE
10-Aug-2020
REGION
Global
Research Code: K2E9-01-00-00-00
SKU: TM00630-GL-MR_24484

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Description

The global wireless technology market is well established and is witnessing a period of dynamic growth. This market is expected to expand its revenues from $1,431.30 billion in 2019 to $5,519.40 billion by 2024, at a CAGR of 31.0%. Wireless technology is used for enabling connectivity between different communication networks, within enterprises, or in residential buildings to reduce complexity between different cabling networks. There is a growing business need for the technology to improve operational efficiency, achieve quicker decision-making capability, and generate cost savings. 5G, which is one of the major drivers for this market is set to become a new catalyst in the digital economy, generating new growth avenues in the Internet of Things (IoT), Artificial Intelligence (AI), and other business models. Smart manufacturing has led to a rise in connected machines and automated plant floors. Connected machines offer complete transparency and quicker identification of faults, helping manufacturers to become more productive and efficient in making operational decisions.

The global wireless technology market can be segmented on the basis of key end-user verticals (i.e., Enterprises and Service Providers), key technologies (i.e., Wi–Fi and cellular), and region (i.e. North America, Europe, Asia Pacific (APAC), and Rest of World (RoW)). IBM, Broadcom, Micro Focus, SmartBear Software, Cygnet Infotech are the top 5 participants in the Wi-Fi technology market offering a broad range of services to customers. Leading vendors in the cellular technology segment include AT&T, NTT DOCOMO (Nippon Telegraph & Telegraph), Softbank Telecom, Deutsche Telekom, Telstra, and Telefonica. The key application segments for this market are automotive, consumer electronics, healthcare, public safety, wearable devices, energy, and others. Leading participants in the wireless technology market comprise Verizon Communications, China Mobile Ltd, Softbank Group Corporation, and Nippon Telegraph & Telephone Corp. These 4 companies together contributed an 8.6% share of the total market revenue. APAC will account for the largest revenue share by region during the forecast period. The wireless technology market is growing at a high rate in countries such as China, India, and Japan. The primary factor leading to market growth in the region is the growing adoption of smartphones and other consumer electronic devices, along with the growth in smart city projects in countries like China and India. Significant upgrades in the network characteristics will lead to a rise in use cases across industries. Faster speed, low latency, and higher bandwidth will allow for innovations and billions of new connected devices. Governmental support for R&D activities, establishment of frameworks for spectrum, and improvements to the digital business environment will be the key factors driving technology implementation in the near future.

Author: Rohan Joy Thomas

RESEARCH: INFOGRAPHIC

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Table of Contents

Key Findings

Market Engineering Measurements

Market Engineering Measurements (continued)

CEO’s Perspective

Market Definitions

Market Definitions (continued)

Market Definitions (continued)

Market Definitions (continued)

Key Questions this Study will Answer

Market Overview—Industry Verticals

Market Overview—Segment Type

Market Overview—Region

Market Distribution Channels

Market Distribution Channels Discussion

Market Drivers

Drivers Explained

Drivers Explained (continued)

Drivers Explained (continued)

Market Restraints

Restraints Explained

Market Engineering Measurements

Market Engineering Measurements (continued)

Forecast Assumptions

Revenue Forecast

Revenue Forecast Discussion

Percent Revenue Forecast by Region

Revenue Forecast by Region

Revenue Forecast Discussion by Region

Revenue Forecast by Industry Vertical

Revenue Forecast Discussion by Industry Vertical

Revenue Forecast Discussion by Industry Vertical (continued)

Revenue Forecast Discussion by Industry Vertical (continued)

Revenue Forecast for Service Providers

Revenue Forecast Discussion for Service Providers

Revenue Forecast for Enterprises

Revenue Forecast Discussion for Enterprises

Revenue Forecast for Small and Medium Businesses

Revenue Forecast Discussion for Small and Medium Businesses

Market Share

Market Share Analysis

Market Share Analysis (continued)

Market Share Analysis (continued)

Competitive Environment

Top Competitors—SWOT Analysis

Growth Opportunity 1—IoT

Growth Opportunity 2—Demand for Wireless Technologies Consuming Low Power

Growth Opportunity 3—Focus on SDN Technology

Strategic Imperatives for Success and Growth

Market Engineering Measurements

Market Engineering Measurements (continued)

Revenue Forecast

Revenue Forecast Discussion

Competitive Environment

Market Engineering Measurements

Market Engineering Measurements (continued)

Revenue Forecast

Revenue Forecast Discussion

Revenue Forecast Discussion (continued)

Competitive Environment

North America—Revenue Forecast

North America—Revenue Forecast Discussion

Europe—Revenue Forecast

Europe—Revenue Forecast Discussion

Asia-Pacific—Revenue Forecast

Asia-Pacific—Revenue Forecast Discussion

RoW—Revenue Forecast

RoW—Revenue Forecast Discussion

The Last Word—3 Big Predictions

Legal Disclaimer

Market Engineering Methodology

List of Companies in “Others”Total Wireless Technology Market

Partial List of Companies Interviewed

List of Exhibits

List of Exhibits (continued)

Related Research
The global wireless technology market is well established and is witnessing a period of dynamic growth. This market is expected to expand its revenues from $1,431.30 billion in 2019 to $5,519.40 billion by 2024, at a CAGR of 31.0%. Wireless technology is used for enabling connectivity between different communication networks, within enterprises, or in residential buildings to reduce complexity between different cabling networks. There is a growing business need for the technology to improve operational efficiency, achieve quicker decision-making capability, and generate cost savings. 5G, which is one of the major drivers for this market is set to become a new catalyst in the digital economy, generating new growth avenues in the Internet of Things (IoT), Artificial Intelligence (AI), and other business models. Smart manufacturing has led to a rise in connected machines and automated plant floors. Connected machines offer complete transparency and quicker identification of faults, helping manufacturers to become more productive and efficient in making operational decisions. The global wireless technology market can be segmented on the basis of key end-user verticals (i.e., Enterprises and Service Providers), key technologies (i.e., Wi–Fi and cellular), and region (i.e. North America, Europe, Asia Pacific (APAC), and Rest of World (RoW)). IBM, Broadcom, Micro Focus, SmartBear Software, Cygnet Infotech are the top 5 participants in the Wi-Fi technology market offering a broad range of services to customers. Leading vendors in the cellular technology segment include AT&T, NTT DOCOMO (Nippon Telegraph & Telegraph), Softbank Telecom, Deutsche Telekom, Telstra, and Telefonica. The key application segments for this market are automotive, consumer electronics, healthcare, public safety, wearable devices, energy, and others. Leading participants in the wireless technology market comprise Verizon Communications, China Mobile Ltd, Softbank Group Corporation, and Nippon Telegraph & Telephone Corp. These 4 companies together contributed an 8.6% share of the total market revenue. APAC will account for the largest revenue share by region during the forecast period. The wireless technology market is growing at a high rate in countries such as China, India, and Japan. The primary factor leading to market growth in the region is the growing adoption of smartphones and other consumer electronic devices, along with the growth in smart city projects in countries like China and India. Significant upgrades in the network characteristics will lead to a rise in use cases across industries. Faster speed, low latency, and higher bandwidth will allow for innovations and billions of new connected devices. Governmental support for R&D activities, establishment of frameworks for spectrum, and improvements to the digital business environment will be the key factors driving technology implementation in the near future. Author: Rohan Joy Thomas
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