Wireless Gigabit Market Size Exploring Future Growth Potential

The report examines the dynamics of the Wireless Gigabit market, aiming to assess its overall value. It delves into the factors that drive growth, impede progress, present opportunities, and pose threats. The valuation of different market segments and sub-segments relies significantly on these variables explored in the research. To ensure accuracy, the research adopts methodologies such as Porter’s Five Forces model, enabling the identification of potential risks and helping in the avoidance of unfavorable financial decisions.

Global Wireless Gigabit (WiGig) Market is valued approximately USD $ million in 2021 and is anticipated to grow with a healthy growth rate of more than $ over the forecast period 2022-2028. The Wireless Gigabit (WiGig) can be defined as a Wireless communication system which offers data transfer speed of over one Gigabit (One billion bits) per second and above. Gigabit uses millimeter waves for data communication. The working of Gigabit is similar to traditional Wi-Fi Network. In Gigabit a Wireless router transmits data at millimeter waves with the help of a high frequency antenna module integrated with the router. The rising penetration of IoT Connected devices and increasing demand for high-speed internet connectivity as well as recent strategic initiatives from leading market players are factors that are accelerating the global market demand.

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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.

For instance, according to Statista – as of 2020, The number of Internet of Things (IoT) devices worldwide was estimated at 9.7 billion devices and the number of IoT devices is projected to grow to 29 billion IoT devices by 2030, Witnessing a CAGR of around 11.57 percent in a span of ten years. Furthermore, leading market players are working towards strategic initiatives including new product launches and collaboration activities. For instance, in August 2021, Taipei, Taiwan based networking equipment company D-Link Limited launched three new variants of High-performance Gigabit router, named DIR-2150 (AC2100 Wi-Fi Gigabit Router), DIR-1950 (AC1900 Wi-Fi certified Easy Mesh Gigabit Router), and DIR-1260 (AC1200 Gigabit Router).

These new routers are based on Lightning-fast 11AC Wireless technology. Moreover, in January 2022, Siklu, a leader in millimeter wave (mmWave) solutions collaborated with Signify a leader in lighting. Under this partnership Siklu’s MultiHaul TG multi-gigabit wireless connectivity technology would be offered with Signify’s BrightSites portfolio. This new addition would be known as Broadband luminaires. This new BrightSites portfolio intended for transforming streetlights into a wireless connectivity grid to facilitate a wide range of digital city services, such as: IoT, security and traffic monitoring, 4G/5G small cells. Also, growing adoption of extended reality (XR) technologies coupled with rising technological advancements in networking solutions are anticipated to act as a catalyzing factor for the market demand during the forecast period. However, a complex configuration process and high installation cost associated with WIGig devices impede the growth of the market over the forecast period of 2022-2028.

The key regions considered for the global Wireless Gigabit (WiGig) Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. Asia-Pacific is the leading region across the world in terms of market share owing to the growing number of connected devices and presence of leading market players in the region. Whereas, Asia Pacific is anticipated to exhibit a significant growth rate over the forecast period 2022-2028. Factors such as the thriving adoption of technological advanced products and rising IT services sector in the region, would create lucrative growth prospects for the global Wireless Gigabit (WiGig) Market across the Asia Pacific region.

Major market players included in this report are:

Qualcomm

Intel Corporation

Broadcom Corporation

Marvell Technology Group Ltd.

Panasonic Corporation

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Cisco Systems, Inc.

NEC Corporation

Azurewave Technologies, Inc.

Nvidia Corporation

MediaTek

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Type

802.11ac
802.11ad

By Product

Consumer Electronics

Networking Devices

By Application

BFSI

Government

IT & Telecom

Retail

Healthcare

By End-Use

Large Enterprises

SMBs

Residential

By Region:

North America

U.S.

Canada

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Europe

UK

Germany

France

Spain

Italy

ROE

Asia Pacific

China

India

Japan

Australia

South Korea

RoAPAC

Latin America

Brazil

Mexico

Rest of the World

Market Dynamics:

• Surging air traffic: As the global aviation industry continues to expand, there is a corresponding increase in market demand.
• Heightened emphasis on safety and reliability: The aerospace and defense sector places significant importance on ensuring safety and reliability, which drives the need for top-notch market offerings.
• Growing commitment to environmental sustainability: The aerospace and defense industry is increasingly dedicated to reducing its carbon footprint, resulting in the adoption of sustainable aviation fuels.
• Escalating globalization: The growth of international trade and travel propels the demand for market solutions.
• Increasing desire for private air transportation: The rising number of affluent individuals and their preference for exclusive air travel are generating fresh opportunities in the market.
• Expanding utilization of digital fuel management systems: The integration of digital fuel management systems facilitates efficient fuel consumption and reduces associated costs.
• Advancements in fuel cell technology: Ongoing developments in fuel cell technology unlock new possibilities for the production of sustainable market alternatives.
• Mounting demand for air cargo transportation: The flourishing e-commerce sector fuels an increasing need for air cargo transportation, thereby driving the demand for market offerings.
• Rising defense budgets: Governments worldwide are augmenting their defense spending, leading to heightened market demand.

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