Next-generation Communication Devices Market Increasing Demand, Growth Analysis and Future Outlook by 2031

Next-generation communication devices market is anticipated to grow at a considerable CAGR of 20.0% during the forecast period. The market growth is attributed to factors such as the widespread adoption of 5G technologies, the increasing demand for Visible Light Communication/ Li-Fi, the growing deployment of Wireless Sensor Networks (WSN) in various industries, and the continuous development of other innovative communication technologies. A supportive government policy to boost advance communication technologies is anticipated to propel the market. For instance, in April 2021, The National Science Foundation (NSF) of the US, in partnership with the Department of Defense Office of the Undersecretary of Defense for Research and Engineering, the National Institute of Standards and Technology, and nine leading companies, launched a program to accelerate research on next-generation networking and computing systems. Through a $40 million investment, the NSF-led RINGS program support research on future versions of the cellular, Wi-Fi, and satellite networks. It lay the groundwork for the next-generation wireless connections that enable faster service, networks more resilient to natural disasters and service interruptions, and broader access for people around the globe.

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The Asia-Pacific region is projected to experience considerable growth in the next-generation communication devices market owing to the rapid expansion of 5G infrastructure, increasing smartphone penetration, and the growing demand for smart transportation and automotive solutions in countries like India, China, and South Korea. For instance, in February 2019, according to a report released by International Data Corp. (IDC), China's smart city investment is expected to reach $29.8s billion by 2022, led by the Chinese government. This investment is focused on digital trust, resilience, and adapting to current trends such as severe weather, cyberattacks, and pandemic recovery. The goal is to continue the urban digital transformation of smart cities and communities through strategic technology investment roadmaps and associated policies and cultural changes.

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• Market Coverage


• Market number available for – 2024-2031


• Base year- 2024


• Forecast period- 2024-2031


• Segment Covered- By Source, By Product Type, By Applications


• Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill


• , and others

Global Next-Generation Communication Devices Market Report Segment

By Technology

• 5G


• Visible Light Communication / Li-Fi


• Wireless Sensor Networks (WSN)


• Other Technologies (Satellite Communication, Millimeter-Wave Technology)

By End-User Industry

• Manufacturing


• Military & Defense


• Automotive


• Transportation


• Other End-user Industries (Healthcare, Irrigation)

Global Next-Generation Communication Devices Market Report Segment by Region

North America

• United States


• copyright

Europe

• UK


• Germany


• Italy


• Spain


• France


• Rest of Europe

Asia-Pacific

• China


• India


• Japan


• South Korea


• Rest of Asia-Pacific

Rest of the World

• Latin America


• Middle East & Africa

The Report Covers

• Market value data analysis of 2022 and forecast to 2030.


• Annualized market revenues ($ million) for each market segment.


• Country-wise analysis of major geographical regions.


• Key companies operating in the global next-generation communication devices market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.


• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.


• Analysis of market-entry and market expansion strategies.


• Competitive strategies by identifying ‘who-stands-where’ in the market.

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