Market Trends of Wireless Connectivity Industry
This section covers the major market trends shaping the Wireless Connectivity Market according to our research experts:
Deployment in Automotive Industry is Expected to Drive Market Growth
- By using wireless connectivity like Wi-Fi and Bluetooth, users are able to connect their smartphones and other smart devices to their infotainment systems. Users can pair their devices with infotainment systems. It can respond to voice commands, handle hands-free mode to answer calls while driving, and operate systems easily and conveniently.
- Moreover, with the help of wireless connectivity, users can locate their vehicles precisely and transmit information with considerably low latency. Smart cars can communicate with modern communication networks like LTE and LTE Advanced. A supercharged 5G network and the Internet of Things will effectively manage smart driving.
- Autonomous and connected vehicles are gaining popularity among consumers and are expected to achieve wider acceptance over the predicted period. The advanced driving assistance systems (ADAS) on display are intended to close the gap between today's cars and those of tomorrow. Furthermore, with increased technological breakthroughs in the automobile industry, end customers are willing to pay more for the latest technology that improves the driving experience and promotes driver and passenger safety.
- Moreover, in March last year, GM Middle East launched new in-vehicle technology with Google built-in, strengthening connectivity leadership and enhancing the customer experience. General Motors Middle East has announced the introduction of infotainment systems with Google built in, as part of its vehicle intelligence technology goals. These new features would augment the overall customer experience and make it easier for customers to bring their digital lives into future connected vehicles. The Google built-in services would be standard on LT and higher trims, with widespread deployment across all GM vehicle brands equipped with the OnStar module system. Thus, customers in Kuwait and the UAE can utilize Google built-in via their Wi-Fi plans, while those in KSA and Bahrain can connect through their personal mobile Wi-Fi hotspots.
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Asia-Pacific is Expected to be the Fastest Growing Market in the World
- Asia-Pacific has been an early adopter of technological advancements such as AL and IoT. In these developing economies, the market poses a key advantage in implementing industrial automation since it is not tormented with rebuilding legacy automation systems and machine investments.
- The Asia-Pacific market is predicted to witness the highest growth for wireless connectivity systems. For instance, according to the U.S.-China Economic and Security Review Commission, government spending on smart city initiatives in China would reach USD 38.92 billion in the current year. The development of smart infrastructure is expected to open new avenues for wireless connectivity systems.
- The rise in the trend towards smart cities is pushing firms or institutions to develop new products or solutions to ease the development of smart cities in the region. For instance, in October last year, the IIIT Hyderabad Smart City Living Lab, in collaboration with Silicon Labs, a leader in secure, intelligent wireless technology, announced the introduction of a campus-wide Wi-SUN network to support research and solutions for the Internet of Things (IoT) and smart cities. Such developments are accelerating the demand for wireless connectivity across the region.
- Additionally, the expansion of 5G networks in the region is expected to be one of the major factors driving the market's growth, both directly and indirectly. According to the GSMA's latest report, 5G is expected to contribute about USD 960 billion to the developed economies of East Asia and the Pacific by 2030. 5G is expected to be a significant driving force in automated smart factory deployments in the region.
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