Bluetooth and NFC to Remain Significant Technologies in Wireless Connected Devices Market
Wireless technology has become vital in various types of communication, allowing users to communicate and connect over long distances without any restrictions. Since it was first introduced in the latter half of the 19th Century, there has been tremendous progress in the same, which has led to the development of advanced technology such as Bluetooth, Near Field Communication (NFC), Wi-Fi, LoRa, and more, being used in a plethora of applications and devices.
Out of these wireless technologies being used in wireless connected devices, Bluetooth has been the most popular, as it offers several benefits such as ease-of-use, compatibility, and most importantly, security. Bluetooth devices use radio waves to operate, and the system allows for more than one device to connect with each other. This technology is being increasingly used in cell phones, laptops, computers, and wireless headsets. In 2018, Bluetooth technology, for use within the wireless connected devices market, witnessed sales of ~ 2.1 Bn units, a figure that is slated to double by the end of the forecast period in 2027, to hit the ~4.3 Bn unit mark.
The popularity of Bluetooth as a technology is followed closely by NFC, which accounted for around ~37% of the total share of the wireless connected devices market in 2018. The segment is expected to grow at a significant ~8% CAGR over the forecast period, to hit the ~4 Bn unit mark by 2027. This growth can be attributed to benefits that it offers, such as convenience, improved operational efficiency, and specifically, enhanced safety and security features. The popularity of these two wireless technologies has had a significant and positive influence on the growth of the global wireless connected devices market over the years.
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Growing Popularity of Smart Devices Having Positive Impact on Market
There has been growing popularity and adoption of smart devices, globally, as connectivity, portability, and convenience become important factors. With technology evolving at a rapid pace, devices that have wireless technology integrated into them have also gotten popular. Devices that are designed specifically for a smart home, such as Amazon Echo, Google Home, and the like, are being used not just as speaker systems but also to communicate and perform tasks, including controlling the lights, etc. The convenience offered by wireless connected devices, especially on a wireless network, has led to their rising popularity, which has had a high impact in the growth of the global wireless connected devices landscape.
Smart home devices, which witnessed sales of ~ 134 Mn units in 2018, is expected to expand 2.5X over the forecast period, to hit the ~353 Mn mark in 2027, making it the second-fastest growing segment after wearable devices.
IoT to Shape Further Evolution of Wireless Connected Devices Market
Smart devices such as watches, phones, home devices, and other wearables are expected continue to drive the demand for the improvement of wireless technologies such as Bluetooth, NFC, LoRa, Zigbee, etc., in the near future. This is particularly significant, as smart devices plugged into cloud systems and Internet of Things (IoT) are expected to enhance the ease of access and convenience for consumers. The convergence between wearable technology and connected devices is likely to be an important step in the progress of product innovation in the market. This shift toward integrated smart devices is set to have a positive impact on the evolution of the global wireless connected devices market.
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Concerns about Data Security Restraining Wireless Connected Devices Landscape
While all wireless connected devices are designed to improve the convenience factor for consumers, they continuously collect large amounts of data, and can become a potential threat to security. However, while concerns about data safety remain high, the adoption of wireless connected devices continues to grow in the global landscape. While this has created opportunities for players within the market and third-party players to address this issue, as increasingly sophisticated attacks are likely to occur, data security and safety concerns are likely to have a negative impact on the growth of the wireless connected devices market, to some extent.
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Wireless Connected Devices Market in Brief
- The wireless connected devices market is expected to register a CAGR of ~8% from 2019 and 2027. The market is projected to be driven by growing innovations and technological advancements. Increasing competitiveness in the gaming space swiftly demands wireless connected devices; this is expected to boost the wireless connected devices market in the near future.
- The global wireless connected devices market is expected to reach ~5 billion units by 2027 from 2.7 billion units in 2019. Rising adoption of smart and digital devices is expected to boost the growth of the global wireless connected devices market.
- The wireless connected devices market in the Middle East & Africa is anticipated to expand at a rapid pace during the forecast period, followed by South America.
- Asia Pacific remains the dominant leader in the global wireless connected devices market, with projected sales of 1.1 billion units in the year 2019, primarily due to tremendous growth in the adoption of smartphones among both, the millennial and older population. Therefore, exponential growth in smartphone device volumes is likely to drive the wireless connected devices market in the region.
- North America is projected to see significant growth in the global wireless connected devices market during the forecast period. The demand for high-end smartphones is rising due to robust per capita income and personal disposable income of citizens in these countries.
Wireless Connected Devices Market: Definition
- The wireless connected devices market report provides analysis of the global wireless connected devices market for the period 2017–2027, wherein, 2018 is the base year and 2019 to 2027 is the forecast period. Data for 2017 has been included as historical information.
- The report studies the wireless connected devices market from the perspective of different wireless technologies and the end devices in which these technologies are enabled. While evaluating wireless device shipment volumes, total shipment volume of all electronic devices as per the scope has been analyzed. Further, the shipment volume of these devices with wireless technologies has been tracked.
- The report analyzes the shipment data for these wireless devices only for the United States as a geographic region. The study provides estimates in terms of shipment volume for the period of 2016 to 2026. The size (volume) of the wireless devices market is estimated after analyzing the adoption rate of different wireless technologies across the electronic devices market.
North America Wireless Connected Devices Market– Snapshot
- North America is seen as a growth hub for new technology-driven enterprise business models, for its start-up ecosystem, and quick adoption of technology solutions by enterprises in the region.
- For the same reason, North America is expected to see the highest opportunity addition for the wireless connected devices market, globally, with Asia Pacific being the next closest region.
Key Challenges Faced by Wireless Connected Devices Market Players
- Consumption of energy is becoming an increasingly serious issue in most countries. Today, most of the energy used by the Internet is spent on the access network, and this is expected to continue in the near future.
- The main shortcoming of Wi-Fi technology is that, it has high power consumption. Some applications such as a connected home would consistently use mainline power; others would require a battery that can be recharged. This is restraining the growth of the wireless connected devices market.
Wireless Connected Devices Market: Key Developments
- In December 2018, Huawei Technologies launched FreeBuds 2 Pro, considered AirPod’s rival, which has Bone Voice ID. FreeBuds 2 Pro helps online transactions on WeChat and AliPay without unlocking the phone. The Bone Voice ID helps obtain spoke bone voice-print information due to integrated AI recognition technology.
- In September 2017, Apple Inc. introduced the iPhone X with A11 Bionic Chip with a neural engine processing of Artificial Intelligence. The A11 Bionic neural engine was designed for specific machine learning algorithms and supports Animoji, Face ID, augmented reality apps, and immersive 3D games.
- In April 2015, Dell Technologies started reselling wireless access points, LANs, and related management services.
Wireless Connected Devices Market – Company Profile Snapshot
- Microsoft Corporation: Founded in 1975, Microsoft Corporation is an international technology company that is engaged in the development of various devices and software and volume licensing. It offers various software products, services, and devices, globally. The company operates through four business segments: Business Processes, Intelligent Cloud, Personal Computing, and Corporate.
- Google, LLC: Founded in 1988, Google, LLC is a multinational company, developing and providing Internet-based products and services. Google, LLC has a range of wireless devices such as wireless chargers, Wi-Fi routers, citizen broadband radio service, Google Daydream view, Google Home, and Chromecast.
- Huawei Technologies Co., Ltd.: Founded in 1987, Huawei Technologies Co., Ltd. is an international ICT solution provider. The company delivers networking and telecommunication products and solutions.
- Other major players operating in the global wireless connected devices market and profiled in the report include
- Apple Inc.
- Dell Technologies
- Hewlett-Packard Company
- Lenovo Group Ltd
- LG Corporation
- Razer Inc.
- Samsung Corporation
- ZTE Corporation.
- Companies are shifting toward advanced technology to gain a competitive advantage in the wireless connected devices market, apart from maintaining their position in the market.
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