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(IT-NEWSWIRE.COM, October 06, 2022 ) According to Precision Business Insights (PBI), the latest report global wireless communication market size is expected to reach USD 426.42 billion by 2028, expanding at a CAGR of 11.8%, during the forecast period 2022-2028. The communications industry's wireless communication sector is thought to be one that is quickly increasing. A form of communication that performs wirelessly is used: wireless communication. For dependable communications, wireless communication solutions increase coverage as well as clarity, as well as maximize productivity and reduce downtime. Wireless communication technologies allow for the simultaneous usage of several users, improving connectivity between them.
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The Wireless Communication Market Growth Factors
Increased use of the Internet of Things (IoT) and cloud computing, rising demand for smartphones as well as other wireless technology devices like Wi-Fi, Bluetooth, and ZigBee, increasing internet connectivity, & soaring need for low-power wide-area (LPWA) networks are some of the key factors driving the wireless connectivity market.
Restraining factors of The Wireless Communication Market
Lack of uniform importance of communication, interference from other electromagnetic sources, layered structures, and physical objects are a few of the issues the wireless connectivity market is dealing with. These issues are impeding the development of wireless connectivity technology. Additionally, the demand for increased information security and the compromise of features like power consumption, data rates, and range for many wireless technologies are having a negative impact on the expansion of the wireless connectivity industry.
The Wireless Communication Market Segmentation
1) By Technology: Wi-Fi, Bluetooth, NFC, ZigBee, EnOcean, Cellular Technologies, and Others.
2) Application: Wearable Devices, IT and Telecommunications, Healthcare, Transportation, Consumer Electronics, Others.
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The Wireless Communication Market Regional Analysis
Due to the development of numerous wireless technologies, North America is anticipated to account for a sizeable portion of the market for wireless communication solutions. For instance, Europe is experiencing market demand as a result of the rate at which innovations are being adopted.
The major players operating in the wireless communication market are Qualcomm, Inc., Apple, Inc, Verizon Communications, Inc., GTT Communications Inc., Motorola Solutions, Inc., Hewlett-Packard Company, Vocera Communications, Inc.
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