The sudden challenges created by the ongoing COVID-19 are captured effectively to exhibit the long term growth projections in the MRFR report on Wireless Communication Market. The growth sectors of the Wireless Communication Market are identified with precision for a better growth perspective.
Wireless data communication is is a form of communication which utilizes radio spectrum, infrared, satellite, etc., to transmit data. Wireless communication technology has become an integral part of various communication devices. Market Research Future (MRFR) has recently published an in-depth report on the global wireless data communication market and has predicted the market to catapult to USD 1867.8 Mn by the end of 2023 from USD 794.6 Mn in 2018. MRFR’s analysis has projected a CAGR of 18.6% over the forecast period of 2018-2023.
Wireless data communication is being extensively used in multiple applications to save time and recede distance barriers. Steep rise in the usage of various devices such as computers, laptops, mobile phones, tablets, and others for business as well as personal use is key to the growth of the market. The emerging economies of the globe are investing heavily on the development of their network or wireless infrastructure which too is fostering the market growth. Furthermore, the development of WiMax, which is an emerging broadband wireless technology is likely to present a host of opportunities to the global wireless data communication market. WiMax is capable of serving across a wider geographical area as compared to Wi-Fi and offers extended mobility, range, and higher speed data applications.
On the other hand, high equipment cost and cost intensive setup procedures is likely to restrain the growth of the market.
Segmentation
The global wireless data communication market has been segmented based on component, technology, type, application, and vertical.
By component, the wireless data communication market has been segmented into hardware and services. The hardware segment has been further segmented into networking devices like switches, hubs, access points, routers, gateway and others. The services segment has been further segmented into managed services and professional services. The professional services segment is leading the market while the managed services segment is anticipated to capture the higher CAGR over the forecast period. The growth of the managed services segment is anticipated to increased adoption among large enterprises.
By type, the wireless data communication market has been segmented into wireless local area network, wireless personal area network, satellite, low power wide area network & cellular M2M.
By vertical, the wireless data communication market has been segmented into IT/Telecom, consumer electronics, automotive, aerospace & defense, healthcare and others.
By technology, the wireless data communication market has been segmented into Wi-Fi, Bluetooth, Zigbee, NFC, 2G/3G, LTE, Lora, Other. The Wi-Fi segment is likely to exhibit substantial growth over the forecast period. The proliferation of Wi-Fi enabled connected devices such as smart TVs, washing machines, and refrigerators along with consolidation of the technology in consumer devices is fueling the growth of the segment.
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