Market Trends of Wireless Connectivity Industry
The Automotive Industry is Expected to Drive the Market's Growth
- Bluetooth wireless connectivity is increasingly used in various automotive system equipment to enable wireless communication and connectivity, including hands-free calling, audio streaming, and in-car infotainment systems. By using wireless connectivity like wi-fi and bluetooth, users are able to connect their smartphones and other smart devices to their infotainment systems. Thus, the growth in the sales of automotive vehicles would drive demand for wireless connectivity solutions.
- Modern automobiles increasingly resemble mobile internet of things (IoT) devices and increasingly use a wide range of sensors to enhance driver safety and comfort by collecting and responding to internal and external information. As wireless communications play an essential role in advancing automotive technology, the increasing amount of data produced by applications like advanced driver assistance systems (ADAS) and in-vehicle infotainment is driving innovations in wireless technologies like bluetooth and wi-fi, as well as cellular and adding growth to the market.
- Autonomous vehicles and connected cars are becoming more popular among consumers and are expected to continue to grow over the coming years. The advanced driving assistance systems (ADAS) on display aim to bridge the gap between the cars of today and the cars of tomorrow. In addition, with more technological innovation in the auto industry, end consumers are willing to spend more money on the newest technology that enhances the driving experience and enhances the safety of drivers and passengers. This would drive demand for wireless connectivity solutions for autonomous vehicles.
- Moreover, GM Middle East launched new in-vehicle technology with Google built-in, strengthening connectivity leadership and enhancing the customer experience. General Motors Middle East 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 Register High Growth Rate
- The market expansion in the region is primarily driven by consumers' increased spending and the growing adoption of smart homes. According to a digital survey conducted by Utimaco, a software company, in April 2023, the use of smart home devices has significantly increased in Singapore, with 61% of respondents stating that they are using smart TVs, 43% using home appliances, and 33% using energy saving devices, virtual assistants, and vacuum cleaner robots. This becomes a primary growth factor for the region's increasing adoption of wireless connectivity solutions.
- 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 2023, the Living Lab IIIT Hyderabad Smart City, 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 growth of market, 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.
- The widespread use of the internet of things (IoT) platform in China is increasing rapidly. Given China's leading role in the production of semiconductors and manufacturing, its participation in the advancement and application of the industrial internet of things (lIoT) and the development are expected to create demand for wireless connectivity across end-user industries.
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