IMARC Group, a leading market research company, has recently releases report titled “Wireless Gigabit Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global wireless gigabit market growth, share, size, trends, and forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How big is the wireless gigabit market?
The global wireless gigabit market size reached US$ 2.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 7.0 Billion by 2028, exhibiting a growth rate (CAGR) of 17.2% during 2023-2028.
What is wireless gigabit?
Wireless gigabit (WiGig) refers to a short range of wireless technology that is employed as a cable replacement for home theater equipment as well as wireless docking for mobile devices. It comprises high transmission speeds and can provide a less congested frequency band at 60 GHz. It is capable of seamlessly switching between 2, 4, 5, or 60 GHz bands to improve the wireless fidelity (Wi-Fi) experience of the users. It possesses shorter wavelengths, which enables the signals to travel through walls, thereby limiting its range to the confines of a room and making it ideal for high data rate multimedia applications at home. WiGig is widely adopted as a wireless docking between various electronic devices, such as smartphones, laptops, projectors, and tablets, as an alternative to high-definition multimedia interface (HDMI) cables. It is suitable for highly immersive gaming and exploring augmented reality (AR) and virtual reality (VR) untethered. It also facilitates high-speed downloading of various high-definition (HD) movies and other videos and simultaneous streaming of multiple ultra-HD videos and movies. It also provides faster cloud access and spontaneous content transfers to other systems.
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What are the growth prospects and trends in the wireless gigabit industry?
At present, the increasing demand for WiGig to achieve lag-free connectivity in crowded places represents one of the primary factors influencing the market positively. Besides this, the rising employment of WiGig in offices to spontaneously connect to projectors with high resolution and transfer large files containing crucial information with minimal delay is propelling the growth of the market. In addition, the growing cloud computing activities to delegate routine tasks, store large amounts of business data, and improve operational efficiency are offering a favorable market outlook.
Apart from this, there is an increase in the utilization of smartphones, laptops, and tablets to access the internet, connect with other individuals, and work remotely. This, coupled with the rising installation of home theaters and smart televisions (TV) in households to watch newly released movies, reality shows, sports events, and news on over-the-top (OTT) platforms, is contributing to the growth of the market. Additionally, the wide availability of the 60 GHz frequency band in various countries with no license initiation or annual fee is supporting the growth of the market.
Moreover, the increasing adoption of work-from-home (WFH) models to remotely complete office tasks and maintain proper work-life balance is strengthening the growth of the market. Furthermore, the rising demand for Wi-Fi in the healthcare industry for various mission-critical applications, such as cardiac and radiology imaging, telemedicine, and electronic medical record procedures, is bolstering the growth of the market.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Product:
· Display Devices
o Laptops and Tablets
· Network Infrastructure Devices
o Routers and Access Points
o Backhaul Stations
o Docking Stations
Breakup by Technology:
· System on Chip (SoC)
· Integrated Circuit Chip (IC Chip)
Breakup by Application:
· Consumer Electronics
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
Broadcom Inc, Cisco Systems Inc., Intel Corporation, Marvell Technology Inc., MediaTek Inc., Millitronic, NXP Semiconductors N.V., Panasonic Corporation, Peraso Technologies Inc., Qualcomm Technologies Inc., Samsung Electronics Co. Ltd. and Sivers Semiconductors AB.
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