Wireless communication market is expected to witness considerable growth over the forecast period owing to increasing smart device usage to access real-time data. Evolving consumer needs and rapid technological advancements have led to the development of new operating systems and high performance smartphones, and is also expected to be the key factor driving wireless communication market growth. Increasing social media awareness has led to increased adoption of wireless communication media, and provides several market growth opportunities. Growing trends towards internet marketing and advertising is also expected to fuel market growth over the next few years.
Wireless communication technologies have revolutionized the means of communication, data exchange and transactions giving way to new digital economy. Technological proliferation and the increasing array of digital devices, improved interfaces for real-time web surfing and applications have significantly increased data usage over wireless networks. Therefore, consumers are more prone to use wireless digital devices against personal computers to access real-time data. Based on current market trends and future needs, smartphones are expected to be a necessary utility over the next few years. Furthermore, wide-spread use of unified communication platforms by several organizations to save time and recede distance barriers through seamless mobile connectivity helps create avenues for the wireless communication market. However, technical issues related to connectivity and network may pose a challenge to the wireless communication market growth. In addition, lack of infrastructure in rural areas is also expected to negatively impact market growth.
Key market participants include Softbank, Deutsche Telekom, Nippon Telegraph & Tel, Telstra, Telefonica, America Movil, Vodafone, Verizon Communications, AT&T and China Mobile.
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