PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1224489
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1224489
Wireless Gigabit Market size was valued at USD 860.9 Million in 2022, expanding at a CAGR of 29.8% from 2023 to 2030.
An internet connection that gives a speed of 1 gigabit per second (Gbps) through wireless technologies such as millimetre wave, microwave, 4G/LTE, free-space optics, and carrier Wi-Fi is known as wireless gigabit (WiGig). It uses a frequency of 60 GHz to encourage quicker speed for Blu-ray players, home theatres, and other audiovisual equipment all around the world. It uses beamforming technology to deliver radio beams with a high-frequency bandwidth while lowering network congestion. It is frequently used in networking design because it transfers data with precision and a high level of security.
Market Dynamics
One of the key factors propelling the market is the growing need for quicker data transfer in the information and technology (IT) and telecom sectors. Additionally, the industry is expanding due to an increase in the use of consumer electronics including HD TVs, laptops, tablets, and smartphones. The development of wireless endpoints that can handle high-speed data is also a result of the growing bring your own device (BYOD) trend in many businesses. This is assisting in the market expansion along with the rising need for gigabit IP data connectivity for long-term evolution (LTE) deployments.
In addition, the growing use of small cell backhaul transmission to handle high data traffic volumes and enhance network coverage of both indoor and outdoor locations is propelling market expansion. The market is also expanding as a result of significant research and development (R&D) efforts made by key companies and the rising use of cloud storage solutions. Other growth-promoting elements include the quick digitalization of information, the growing use of the internet, and the growing integration of wireless chipsets into electronic products.
Segmental Analysis:
Based on the type, the wireless gigabit market was led by the 802.11ac segment in 2022, and this trend is anticipated to continue during the forecast period. Due to the improved throughput at frequencies in the 2.4 GHz to 5 GHz bands, the segment is seeing rapid expansion in the market. But because wireless technology is developing quickly in response to the explosion of intelligent devices, data, and applications, the IEEE 802.11ad standard is expected to increase at the highest CAGR in the coming years. Operating in the 60GHz millimetre wave spectrum, the 802.11ad standard offers solutions with increased data speed and decreased latency.
Based on application, the consumer electronics segment is expected to dominate the industry in 2022, with a market share of more than 70%, and this trend is expected to continue in the future, owing to rising consumer use of 802.11ac access points. WiGig provides users with the ultra-fast connectivity needed to transport gigabytes of HD material between tablets, smartphones, desktops, and set-top boxes. Several IC makers in the market are developing advanced WiGig ICs for consumer electronics devices including laptops, mobile phones, tablets, TVs, monitors, and Wi-Fi access points.
Regional Analysis:
Asia Pacific led the industry in 2022, accounting for a sizable revenue share, and this trend is likely to continue throughout the forecast period. The increased manufacturing of Ethernet switches and routers in powerful economies such as India, China, and Japan is helping to drive regional development. In emerging nations, increased IT investment and shifting budget allocations are driving demand for technologically superior goods to modernise current organisational infrastructure. On the other hand, Europe holds a significant market share during the forecast period. The region's rise may be ascribed to the development of next-generation gadgets, the demand for high-speed internet, the requirement for high data throughput or quicker data transmission, and the availability of low-cost wireless gigabit solutions.
Recent Development:
In April 2022, Broadcom Inc. announced the availability of samples of its entire end-to-end Wi-Fi 7 chipset solutions, which include Wi-Fi routers, residential gateways, enterprise access points, and client devices. These Wi-Fi 7 chips more than double the speed of existing Wi-Fi 6 and 6E solutions while also providing dependable low-latency connections and an expanded range.
Key features of the study:
This proposed research study on the Wireless Gigabit market provides market size (US$ Million), compound annual growth rate (CAGR %) and forecast estimation (2023-2030), considering 2022 as the base year
The research report elucidates potential growth opportunities across different segments/countries and explains an attractive investment proposition matrix for the Wireless Gigabit market
The overall report identifies new investment opportunities, challenges faced by established players, and growth factors to sustain in the Wireless Gigabit market
The impact of COVID-19 on the Wireless Gigabit market size, forecast, CAGR, and market dynamics are discussed in detail under the research scope. Detailed insight into the Wireless Gigabit market post-COVID will also be covered.
To give the users of this report a comprehensive view of the Wireless Gigabit market, we have also included a competitive landscape and key innovator analysis for the Wireless Gigabit market.
The study encompasses a growth prospect mapping analysis, wherein all the industry segments are benchmarked based on their market size, growth rate and attractiveness.
The report offers detailed company profiling featuring major market participants which will help users to understand the financial information and strategic initiatives of players operating in the Wireless Gigabit market.
In addition, the report also unveils the important acquisitions & mergers, collaborations & joint ventures, new launches, research & development, and regional expansion of major participants involved in the market on global as well as regional levels.
The global Wireless Gigabit market report primarily caters to various stakeholders in this industry including suppliers, investors, new entrants, distributors, and financial analysts
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL WIRELESS GIGABIT MARKET KEY PLAYERS
Sivers Semiconductors AB
Intel Corporation
Qualcomm Technologies, Inc.
Tensorcom, Inc.
STMicroelectronics
Broadcom
NXP Semiconductors
Advanced Micro Devices, Inc
Infineon Technologies AG
Blu Wireless
Netgear, Inc.
GLOBAL WIRELESS GIGABIT MARKET, BY TYPE
802.11ac
802.11ad
GLOBAL WIRELESS GIGABIT MARKET, BY PRODUCT
Consumer Electronics
Networking Devices
GLOBAL WIRELESS GIGABIT MARKET, BY APPLICATION
BFSI
Government
IT & Telecom
Retail
Healthcare
Others
GLOBAL WIRELESS GIGABIT MARKET, BY END-USE
Large Enterprises
SMBs
Residential
GLOBAL WIRELESS GIGABIT MARKET, BY REGION
North America
The U.S.
Canada
Europe
Germany
France
Italy
Spain
United Kingdom
Russia
Netherlands
Sweden
Poland
Rest of Europe
Asia Pacific
India
China
South Korea
Japan
Australia
Thailand
Indonesia
Philippines
Rest of APAC
Latin America
Brazil
Mexico
Argentina
Colombia
Rest of LATAM
The Middle East and Africa
Saudi Arabia
United Arab Emirates
Israel
Turkey
Algeria
Egypt
Rest of MEA