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
10-Aug-2020
Global
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
Popular Topics
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