The growth of the wireless connectivity market is driven by the advancements in the telecommunications industry and high adoption of smartphones, increased demand for wireless sensor networks for creating smart infrastructure, increased demand for low-power wide-area (LPWA) networks in IoT applications, significant increase in the internet penetration rate, and rise in the adoption of IoT.

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.

Moreover, significant financial support from governments across the world for R&D in the Internet of Things, emerging needs for cross-domain applications, and proliferation of Wi-Fi as wireless connectivity standard in consumer and enterprise sectors are some major opportunities for the growth of the market.

Major players in the wireless connectivity market include 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 player 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).

The market for Wi-Fi technology expected to register the largest shipment between 2018 and 2023.

The demand for Wi-Fi–enabled connected home devices such as video doorbells, thermostats, lighting solutions, smart TVs, refrigerators, washing machines, and music systems are increasing. The use of Wi-Fi in consumer electronics has enabled users to control the devices.