Wireless Connected Devices Market By Device Type (Smartphones, Wearables, Smart Home Devices, Laptops & Tablets, Smart TVs), By Connectivity Technology (Wi-Fi, Bluetooth, Zigbee, NFC, Cellular, LPWAN), By Application (Consumer Electronics, Healthcare, Industrial IoT, Smart Homes, Automotive), By End-User Industry (Consumer Electronics, Healthcare, Automotive, Industrial, Energy, Retail), By Distribution Channel (Online Retail, Electronics Stores, Direct Sales, Distributors, Supermarkets/Hypermarkets), and By Region; Global Insights & Forecast (2024 – 2030)

As per Intent Market Research, the Wireless Connected Devices Market was valued at USD 108.0 billion in 2023 and will surpass USD 264.6 billion by 2030; growing at a CAGR of 13.6% during 2024 - 2030.

The wireless connected devices market is experiencing rapid expansion, driven by the increasing demand for smart, interconnected solutions across various industries. Devices that leverage technologies like Wi-Fi, Bluetooth, and 5G are becoming integral to daily life, transforming consumer experiences, improving industrial efficiency, and enabling innovations in healthcare, automotive, and beyond. These devices enable seamless connectivity, automation, and data exchange, making them central to the Internet of Things (IoT) ecosystem. This market is poised for significant growth, propelled by advancements in connectivity technologies, the increasing adoption of smart home devices, and the proliferation of wearables and other IoT-based solutions.

Smartphones Segment is Largest Owing to High Demand Across Consumer Markets

The smartphone segment dominates the wireless connected devices market due to its ubiquity and versatility. Smartphones serve as the central hub for numerous connected devices, from wearables to home automation systems, making them the most widely used category in the market. The increasing reliance on smartphones for communication, entertainment, and work, combined with the growing demand for advanced features like 5G connectivity, high-performance cameras, and AI-powered functionalities, propels this segment. Moreover, the affordability of smartphones in emerging markets further drives their growth globally, solidifying their position as the largest subsegment.

Smartphones are continually evolving, with manufacturers such as Apple, Samsung, and Xiaomi leading the charge in integrating the latest technological advancements. As 5G networks expand, the demand for smartphones with 5G capabilities is expected to surge, creating a new wave of market opportunities. Additionally, smartphones are at the forefront of the digital transformation, driving innovation in various industries such as healthcare, retail, and automotive, where they serve as gateways for connected devices and applications.

Bluetooth Connectivity Technology is Fastest Growing Owing to Its Versatility and Low Power Consumption

The Bluetooth connectivity segment is growing rapidly due to its low power consumption and versatility in connecting a wide range of devices. Bluetooth is particularly popular in wearables, smart home devices, and automotive applications, enabling seamless data transfer and control between devices. The latest Bluetooth versions, including Bluetooth 5.0 and 5.1, offer improved range, faster speeds, and better energy efficiency, all of which are appealing to consumers and manufacturers alike. Bluetooth's low energy consumption makes it ideal for battery-powered devices, contributing to its rapid adoption in the growing wearable technology market.

The increase in the adoption of Bluetooth-powered devices is particularly noticeable in the fitness and health industries, where devices like smartwatches, fitness trackers, and health monitoring devices rely on Bluetooth to sync data with smartphones and cloud platforms. Bluetooth is also a key enabler of smart home ecosystems, where it facilitates communication between devices like smart locks, lights, and thermostats. Its widespread compatibility and low operational cost make it the fastest-growing connectivity technology in the wireless connected devices market.

Consumer Electronics Application is Largest Owing to Widespread Adoption of Smart Gadgets

The consumer electronics segment is the largest application area for wireless connected devices, driven by the increasing adoption of smart gadgets such as smartphones, tablets, smart TVs, and wearables. Consumers are increasingly seeking interconnected devices that offer convenience, enhanced functionality, and seamless experiences. Smart TVs, for example, allow users to stream content, control their home environment, and interact with voice assistants, all integrated into a single device. Similarly, wearables like fitness trackers and smartwatches are becoming more popular as consumers seek devices that can monitor health metrics and keep them connected.

The proliferation of smart home devices also contributes to the growth of the consumer electronics segment, as more households adopt connected products for security, climate control, and entertainment. As connectivity technologies such as Wi-Fi, Bluetooth, and Zigbee continue to improve, consumer electronics will remain a dominant application, accounting for a significant share of the wireless connected devices market.

Healthcare End-User Industry is Fastest Growing Owing to Advancements in Health Monitoring Devices

The healthcare industry is the fastest-growing end-user segment in the wireless connected devices market, driven by the increasing adoption of connected health monitoring devices. Wearable health trackers and IoT-enabled medical devices are helping healthcare professionals monitor patient conditions remotely, improving healthcare delivery and patient outcomes. Devices like smartwatches, ECG monitors, and glucose meters are being equipped with advanced sensors that can track vital signs and send real-time data to healthcare providers, enabling proactive care and reducing hospital visits.

In addition, telemedicine platforms, which rely on wireless connected devices, have seen significant growth, especially during the COVID-19 pandemic. The ongoing trend toward personalized healthcare, combined with advancements in wireless connectivity and data analytics, continues to drive the demand for connected healthcare devices. As the healthcare industry embraces digital transformation, the wireless connected devices market in this sector is expected to continue its rapid expansion.

Online Retail Distribution Channel is Largest Owing to Convenience and Growing E-Commerce Trend

The online retail segment is the largest distribution channel for wireless connected devices, benefiting from the rapid growth of e-commerce and consumer preference for shopping online. Online platforms provide consumers with the convenience of purchasing a wide range of connected devices, often with detailed product descriptions, user reviews, and the ability to compare prices. E-commerce giants like Amazon, Alibaba, and Best Buy are key players in this space, offering everything from smartphones and wearables to smart home products, all accessible from the comfort of consumers' homes.

The rise in online shopping is complemented by faster delivery times, return policies, and promotional offers, which have made purchasing connected devices more convenient and cost-effective. Additionally, the COVID-19 pandemic accelerated the shift to online shopping, a trend that is expected to persist as consumers continue to prefer the ease of online purchases. As a result, online retail will remain the dominant distribution channel for wireless connected devices in the coming years.

Asia-Pacific Region is Fastest Growing Owing to Increasing Adoption in Emerging Markets

The Asia-Pacific region is the fastest-growing market for wireless connected devices, driven by the rapid technological advancements and the increasing adoption of smart technologies in emerging markets such as China, India, and Southeast Asia. These countries are experiencing a significant rise in smartphone penetration, wearables, and smart home devices, fueled by improving internet infrastructure, growing middle-class populations, and higher disposable incomes. China, in particular, is a major hub for the production and consumption of wireless connected devices, with local manufacturers like Huawei, Xiaomi, and Oppo playing a pivotal role in shaping the market.

The increasing demand for connected devices in industries like healthcare, automotive, and industrial IoT further supports the growth of the wireless connected devices market in the region. As the Asia-Pacific region continues its digital transformation, the market for wireless connected devices is expected to expand at a rapid pace, with both developed and developing countries contributing to its growth.

Competitive Landscape

The wireless connected devices market is highly competitive, with several major players continuously innovating to maintain their market positions. Leading companies include Apple, Samsung Electronics, Huawei, Google, and Qualcomm, all of whom are investing in new technologies such as 5G, AI, and edge computing to enhance the performance and capabilities of their products. These companies are also forming strategic partnerships, acquiring smaller firms, and launching new products to cater to evolving consumer demands.

The market is also seeing strong competition from emerging players, particularly in the wearable and smart home device sectors. Companies like Fitbit, Garmin, and Xiaomi are making significant strides by offering affordable connected devices with advanced features. As the market continues to grow, the competitive landscape will be shaped by technological advancements, product differentiation, and the ability to offer seamless connectivity across various devices and platforms.

List of Leading Companies:

• Apple Inc.
• Samsung Electronics Co., Ltd.
• Google LLC
• Huawei Technologies Co., Ltd.
• Sony Corporation
• LG Electronics Inc.
• Qualcomm Incorporated
• Intel Corporation
• Fitbit Inc.
• Xiaomi Corporation
• Amazon.com, Inc.
• Garmin Ltd.
• Bosch Group
• Cisco Systems, Inc.
• Zebra Technologies Corporation

Recent Developments:

• Apple Inc. announced the launch of the Apple Watch Series 9 with enhanced health monitoring features, including better heart rate tracking, blood oxygen monitoring, and a new chip for faster performance, in September 2024.
• Qualcomm expanded its IoT portfolio with the introduction of the Qualcomm QCA4020 chip for smart home and wearable devices, featuring improved low-power connectivity and support for multiple standards like Zigbee and Thread, in August 2024.
• Amazon unveiled its Amazon Echo Show 15 smart display in June 2024, a larger smart home device that integrates Alexa with a high-definition screen, enabling better control of home automation and media content.
• Samsung Electronics launched the Samsung Galaxy Watch 6 in July 2024 with advanced fitness tracking features and integration with Samsung Health, further expanding its leadership in the wearables market.
• Huawei received approval for its 5G-enabled IoT devices in several global markets, including Europe and Asia, in July 2024, marking a significant step in its expansion of wireless connected solutions for industrial and consumer applications.

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