Further shaping the evolution of wireless connected devices
According to a new market report pertaining to the global wireless connected devices market, the global wireless connected devices market is projected to reach a volume of 5 billion units by 2027. The wireless connected devices market is projected to expand at a CAGR of ~8% from 2019-2027. Growth of the wireless connected devices market can be attributed to increasing innovations and technological advancements.
Over the forecast period, the market in the Middle East & Africa is anticipated to grow rapidly in the global wireless connected devices market, at a CAGR of ~12%.
In terms of number of units, the market is dominated by Asia Pacific, followed by North America. In the wireless connected devices market, computing/communication devices stood at ~1.6 billion units in 2017, which is expected to reach ~2.8 billion units by 2027, expanding at a CAGR of ~6% during the forecast period.
- Rising adoption of wireless connected devices technologies - Numerous types of wireless technologies enable devices to send data without cables. Different wireless technologies can be implemented in hardware products for Machine to Machine (M2M) communication and IoT. Introduction of technologies such as Bluetooth, ZigBee, LoRa, Zwave, and WiFi, in the US, is projected to drive the wireless connected devices market during the forecast period, as the use of Bluetooth technology is expanding and the use of Bluetooth for data transfer is increasing. This is propelling the growth of the wireless connected devices market across the globe.
- Increasing competitiveness in gaming space - Increasing technology advancements in the gaming industry have led to increasing competition in the gaming market. Companies have started investing in advanced technology and hardware systems to provide an advanced gaming experience to end users. Sectors such as gaming and media and entertainment are at the forefront of adopting technological advancements compared to other end use sectors. End users are increasingly seeking experiences in virtual surroundings in different applications due to current advancements in technology in both, AR and VR.
Wireless connected devices market: the regional outlook
In terms of region, the global wireless connected devices market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. Asia Pacific is expected to dominate the global wireless connected devices market during the forecast period.
The Middle East & Africa is expected to see increasing growth in the wireless connected devices market. The wireless connected devices markets in North America, Europe, and South America are also expected to expand rapidly during the forecast period.
The report provides in-depth segment analysis of the global wireless connected devices market, thereby providing valuable insights at macro as well as micro levels. Analysis of major countries that hold growth opportunities or account for significant shares has also been included as part of the geographic analysis of the wireless connected devices market.
Wireless connected devices market: the competition dynamics
The research study includes the profiles of leading companies operating in the global wireless connected devices market. Key players profiled in the report include Apple Inc., Dell Technologies, Google Inc., Hewlett-Packard Company, Huawei Technologies Co., Ltd., Lenovo Group Ltd, LG Corporation, Microsoft Corporation, Razer Inc., Samsung Corporation, and ZTE Corporation.