iCrowdNewswire Jan 14, 2021 3:20 AM ET
According to Market Research Future (MRFR), the global wireless data communication market is poised to create a valuation of USD 1867.8 MN by 2023, growing at 18.6% CAGR throughout the assessment period (2018-2023). The main aim of deploying digital devices is to improve interfaces in real-time web surfing and applications, which significantly increases data usage over wireless networks. Rising adoption of communication platforms boosts market growth.
Attractive advantages of wireless data communication technologies such as elimination of manual documentation, error-free archiving, digital transmission of data, and the higher efficiency & ease associated with the process substantiate the market growth. The advent of advanced cell phones, tablets, and high-tech hand-held devices connected to wireless networks fosters the growth of the wireless communication market. Additionally, spurring growth in the dramatically rising end-users encourages market demand.
On the other hand, technical issues related to connectivity and network is the major factors predicted to impede the growth of the market. Also, the lack of infrastructure in rural areas poses challenges to the wireless communication market growth. Nevertheless, the availability of futuristic technologies would support market growth throughout the forecasted period.
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Wireless Data Communication Market – Competitive Landscape
Highly competitive, the wireless data communication market appears fragmented due to the presence of several well-established market players. Industry players are increasingly adopting strategies such as mergers & acquisitions, collaboration, expansion, and product launch to gain a competitive share. The industry is intensive for intellectual property and technology, making market entry a challenge for small players.
Industry players rely on collaboration and partnerships with other players to innovative solutions and cut down development costs and time. Technology providers use a variety of distributions channels and are increasingly engaging social media to generate inbound leads.
Players leading the global wireless data communication market include AT&T(US), Qualcomm(US), Verizon Wireless(US), D-Link(US), Cisco(US), Google(US), Intel(US), Huawei Technologies (China), Texas Instruments(US), NXP Semiconductor(Netherlands), CypressSemiconductor(US),Enocean(Germany),Broadcom(US),STMicroelectronics(Switzerland), Microchip (US), Murata Manufacturing (Japan), Marvel Technology(US), among others.
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