Wireless Devices Market Growth, Size, Share, Trends, and Forecast 2030

Industry Prospective:

The global wireless devices market size was worth around USD 112.33 billion in 2022 and is predicted to grow to around USD 279.96 billion by 2030 with a compound annual growth rate (CAGR) of roughly 12.26% between 2023 and 2030. The report analyzes the global wireless devices market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the wireless devices market.

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Wireless Devices Market: Overview

Wireless devices are intelligent electronic devices that aid communication and data transmission without the use of any form of physical wired connection. They work on modern-age technologies such as radio waves, infrared, Bluetooth, Wi-Fi, cellular networks, and satellite signals to create connections between devices and transmit information.

There are several types of wireless devices with each system created using an ideal combination of technology and functional parts. Some examples include wireless headphones, smartphones, wireless charging systems, and gaming consoles accompanied by controllers are day-to-day wireless devices. They provide several advantages over wired devices.

For instance, they allow users better mobility and flexibility. They are also relatively easier to connect since they do not rely on physical connections which are more likely to get damaged due to harsh or unfavorable conditions. The wireless devices market deals with the research & development (R&D), designing, production, and distribution of these systems across end-user verticals.

Key Insights:

• As per the analysis shared by our research analyst, the global wireless devices market is estimated to grow annually at a CAGR of around 12.26% over the forecast period (2023-2030)
• In terms of revenue, the global wireless devices market size was valued at around USD 112.33 billion in 2022 and is projected to reach USD 279.96 billion, by 2030.
• The wireless devices market is projected to grow at a significant rate due to the growing shift toward wireless services
• Based on end-user segmentation, consumer electronics was predicted to show maximum market share in the year 2022
• Based on technology segmentation, Wi-Fi was the leading technology in 2022
• On the basis of region, Asia-Pacific was the leading revenue generator in 2022

Wireless Devices Market: Growth Drivers

Growing shift toward wireless services to propel market demand

The global wireless devices market is expected to grow owing to the increasing shift toward wireless systems and services. The modern world is built on advanced technology which is consistently evolving. Countries, at domestic and international level, are working toward developing infrastructure and electronic devices including industrial and commercial grade are an important part of an attractive modern architecture.

The global efforts are further strengthened by the rising number of private sector companies that are aiming to push further the technological expansion momentum. Wireless devices are expected to be an essential component of the ongoing trend which can be seen in the rising sales of advanced smartphones, laptops, and other everyday consumer electronic items.

For instance, a recent report by DNA India claimed that only 2% of the Indian population uses wired landlines for communication. Nearly 98% of people rely on smartphones for communication.

Wireless Devices Market: Restraints

High security concerns to restrict market expansion

The global wireless devices market size is projected to come across certain roadblocks owing to the growing concerns about security in terms of the use of wireless devices. These systems, even though advanced, are vulnerable to cyber or online attacks. With the right set of tools along with human capabilities, they can be easily infiltrated. The European Council claims that nearly 10 terabytes of data is stolen every month using ransomware and the institute has claimed it as one of the biggest cyber threats to the regional economy.

Wireless Devices Market: Opportunities

Increasing infrastructural investment to provide growth opportunities

The global sales volume may increase at a favorable rate owing to the increasing rate of infrastructure development projects and subsequent investments across the globe. With the changing world economics in the backdrop of the Russia-Ukraine war, national leaders and governments have amped up their efforts to ensure survival. For instance, SpaceX has already managed to launch nearly 114 satellites in its first mission of 2023 alone.

Wireless Devices Market: Challenges

Interference and signal limitations to challenge market growth

One of the key challenges faced by the wireless devices industry players is the management and overcoming of interference in connection created by physical barriers, crowded network environments, and signal degradation. This severely impacts the quality of connection and thus downgrades user experience.

Furthermore, these systems currently lack smooth connections over long distances. Consumers expect a seamless experience and this could act as a barrier against growth.

Wireless Devices Market: Segmentation

The global wireless devices market is segmented based on end-user, component, technology, type, and region.

Based on end-user, the global market segments are healthcare, consumer electronics, telecommunications, industrial, and others. The industry registered the highest growth in the consumer electronics segment in 2022 and is expected to continue its growth trajectory during the forecast period.

These products include items such as tablets, laptops, smart home devices, wearables, and other personal electronic devices that rely extensively on wireless connectivity to promote communication and data exchange. With the increasing popularity of consumer electronics, segmental growth has surged in recent years. Factors such as growing disposable income, rising population, heavy dependency on smart technology during everyday activities, availability of products across price ranges, easy financial assistance, and changing consumer preferences are the main reasons for the high growth rate in this section. According to a report by GlobalWebIndex, an average digital technology user owns nearly 3.23 connected devices.

Based on component, the wireless devices industry segments are integrated circuits (ICs), sensors, microcontrollers & microprocessors, and others.

Based on technology, the global industry is segmented into ZigBee, Wi-Fi, Bluetooth, and others. The highest growth was observed in the Wi-Fi segment in 2022 since it is the most commonly adopted technology for the functioning of wireless devices. Wi-Fi stands for Wireless Fidelity and has been a revolutionizing technology in terms of the development of the modern world.

This technology allows device connection to a local area network (LAN) along with access to the internet making communication using devices within the network a simple task. It is widely used in smartphones, tablets, laptops, and smart TVs to name a few, and is commonly found in all types of settings including homes, offices, public spaces, and various commercial establishments. More than 93% of European households are equipped with internet access.

Based on type, the wireless devices industry segments are laptops & computers, smartphones & tablets, smart home systems, wearable devices, Internet of Things (IoT), wireless routers & access points, and others.

Recent Developments:

• In May 2023, Gadgets 360 reported that the iPhone 15 by Apple, a leading provider of a game-changing range of advanced smartphones and other consumer electronics, will be equipped with technology that will support faster Qi2 wireless charging without the use of MagSafe
• In December 2022, Tesla, a car manufacturer, forayed into the consumer electronics segment by launching a range of wireless charging for AirPods and iPhones among other devices
• In April 2023, boAt, an Indian manufacturer of wireless earphones and headphones, launched boAt Rockerz 551 ANC. It has a playtime of 100 hours along with 35db active noise cancellation features
• In June 2021, Lenovo launched Go Wireless Charging Kit. The system is suitable for charging a wide range of laptops and used the ‘Power of Contact’ technology

Wireless Devices Market: Report Scope

Wireless Devices Market: Regional Analysis

North America to grow at a high CAGR

The global wireless devices market is expected to be dominated by North America during the forecast period owing to the increasing adoption of wireless devices across developed economies of Canada and the US. The latter region has long been at the forefront of technological advancement and is home to some of the pioneering companies that have assisted in reshaping the modern world. A presence of a mature market is expected to work in favor of regional growth by 2030. Alongside, high disposable income, easy access to modern systems, and a technology-comfortable population may also assist in generating higher revenue.

European growth is anticipated to be led by Germany, the UK, and France due to ongoing projects such as the development of smart cities and IoT-related initiatives. Moreover, digital transformation could be key to a better growth rate.

Wireless Devices Market: Competitive Analysis

The global wireless devices market is led by players like:

• Apple Inc.
• Samsung Electronics Co. Ltd.
• Huawei Technologies Co. Ltd.
• Xiaomi Corporation
• LG Electronics Inc.
• Sony Corporation
• Google LLC
• Microsoft Corporation
• Lenovo Group Limited
• HP Inc.
• Dell Technologies Inc.
• Cisco Systems Inc.
• Qualcomm Incorporated
• Intel Corporation
• Nokia Corporation
• Ericsson AB
• ZTE Corporation
• Motorola Solutions Inc.
• Fitbit Inc.
• Garmin Ltd.
• Bose Corporation
• JBL (Harman International Industries Inc.)
• Plantronics Inc.
• TP-Link Technologies Co. Ltd.
• Ubiquiti Inc.

The global wireless devices market is segmented as follows:

By End-User

• Healthcare
• Consumer Electronics
• Telecommunications
• Industrial
• Others

By Component

• ICs
• Sensors
• Microcontrollers & Microprocessors
• Others

By Technology

• ZigBee
• Wi-Fi
• Bluetooth
• Others

By Type

• Laptops & Computers
• Smartphones & Tablets
• Smart Home Systems
• Wearable Devices
• Internet of Things (IoT)
• Wireless Routers & Access Points
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of The Middle East & Africa