It comes as no surprise that wireless technologies and solutions have integrated into every fabric of human life as we know it, from shaping our relationships to our worldwide economies.
And it’s only going to go up from here.
According to a report published by Transparency Market Research (TMR), the global wireless connectivity market is estimated to grow from USD 69.0 billion in 2020 to USD 141.1 billion by 2025, at a CAGR of 15.4 percent.
The report highlights that the major factors contributing to industry growth of wireless connectivity are due to the increased demand for wireless sensor networks in the developments of smart infrastructures.
“Other contributing factors are the significant increase in Internet penetration, growth in the adoption of Internet of Things (IoT) products, and growing trends for work from home and virtual learning solutions due to the Covid-19 pandemic,” the report stated.
In parallel, as wireless connectivity is receiving increased venture capital funding due to the slow rise of 5G, there is a growing need for solutions that are both energy-sufficient and secure.
From there, the innovations birthed from these technological advancements are being leveraged to create efficiencies and extensive economic development as well as job creation and growth.
The dominance of Wi-Fi
According to the study done by TMR, Wi-Fi has remained one of the most dominant wireless connectivity technologies in consumer electronics and enterprise applications.
“The demand for Wi-Fi-enabled connected home devices such as video doorbells, thermostats, lighting solutions, smart TVs, refrigerators, washing machines, and music systems is increasing,” the study highlighted.
As time goes on, so does the need to remain connected to meet the ever-changing consumer lifestyle and behaviors.
“The increase in the adoption of smartphones in the middle-class population in emerging economies, such as India, Indonesia, and other Southeast Asian countries, is boosting the growth of the market for connected devices based on Wi-Fi technology,” the TMR study noted.
Wireless tech overhauls infrastructures
Smart infrastructure seems to be leading the line in terms of wireless solutions usage, as nations and governments are ambitiously chasing the dream of constructing smart cities.
According to a report co-authored by Deloitte and CTIA, the trade association representing the wireless communications industry in the United States, there are four major industries that have demonstrated growth and evolution due to the impact of wireless connectivity.
Real time information and insights are considered the game changer that wireless technology offers the energy sector.
“Connectivity helps augment the energy industry’s critical role in the economy, electricity utilities in particular, despite ongoing challenges created by aging infrastructure and sheer complexity,” the report said.
The main factor at play is how wireless technology is affecting asset efficiency and reducing costs, which, in parallel, is converged to greater reliability and lower costs on consumers and businesses alike; not only that, but also opens the door for investments that would reinvigorate its capabilities, such as renewable energy.
It is also important to note the energy sector’s major shift from using predictive systems to real time reporting systems that better balances energy supply and demand, maintain critical infrastructure, all while using the technology to educate consumers.
The beauty of wireless technologies and solutions is that it takes remote access and telemedicine out of the world of science fiction and into reality. These practices not only reduce costs but pushed time and distance barriers out the window to bolster early interventions and preventive care to patients regardless of time or location.
“Consumers are increasingly attracted to these telehealth and smart monitoring trends, as they empower them to make better choices and access better care,” the co-authored report mentioned.
All this combined can skyrocket innovations in diagnostics, data analytics, and treatment.
3. Public safety
From predictive policing that helps reduce crime to providing real time alerts giving first responders a more comprehensive understanding of unfolding emergencies and much more, these next generation advancements will prove vital in protecting and serving the communities and citizens of tomorrow.
“Advancements in wireless connectivity have the potential to demonstrably improve public safety by empowering public safety services—emergency responders, law enforcement, and public health—to carry out their missions more safely and effectively,” the report said.
Everything from autonomous vehicles, to supply chain management will be heavily impacted by the ongoing growth of wireless technologies.
“An integrated transportation ecosystem is being accelerated by enhanced connectivity, a trend that is expected to continue and will push innovation in the transportation ecosystem,” authors of the Deloitte CTIA report highlighted.
They added that the next generation wireless technology is building a platform for widespread adoption of smart roads and infrastructure, while simultaneously recalibrating the transportation value chain, from manufacturers to end users.
While wireless technologies are already starting to take shape with the emergence of 5G, they are both still considered a blank canvas for the innovators of tomorrow.
Both technologies will prosper and together revolutionize what is possible for businesses, economies, livelihoods, and the fate of millions down the road.
Thus, we won’t quite know for sure until we get there.