PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1562741
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1562741
The global Wireless Gigabit market is expected to be valued at USD 66.9 million in 2024 and is projected to reach USD 138.8 million by 2029, growing at a CAGR of 15.7% from 2024 to 2029. The increasing adoption of high-speed internet is one of the growth drivers for the Wireless gigabit market. With the proliferation of IoT devices and smart city initiatives, the adoption of wireless connectivity technologies is rising. The technology is used for high-bandwidth applications in smart cities, video streaming, and more.
Scope of the Report | |
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Years Considered for the Study | 2020-2029 |
Base Year | 2023 |
Forecast Period | 2024-2029 |
Units Considered | Value (USD Million) |
Segments | By Offering, By Protocol, By Channel, By Product, and By End User and Region |
Regions covered | North America, Europe, APAC, RoW |
"Wireless gigabit market for module offering to account for the highest CAGR during the forecast period."
The Wireless gigabit market for module offerings is expected to grow at a CAGR rate during the forecast period. This growth is attributed to the WiGig module's ability to quickly adapt to different devices and applications and support a range of use cases, including wireless docking and high-speed data transfer. The WiGig modules help reduce overall product costs by eliminating the need for other components. Moreover, the increasing adoption of smart devices requiring high-speed, low-latency connectivity drives the demand for WiGig modules.
"Wireless gigabit market for network infrastructure devices to account for the highest CAGR during the forecast period."
During the forecast period, network infrastructure device products are expected to dominate the wireless gigabit market. This growth is attributed to the exponential increase in data traffic driven by HD video streaming, online gaming, and IoT. These applications require high-speed connectivity to reduce latency and provide a quality experience. Additionally, the increasing development of smart cities requires robust and high-speed wireless networks for various applications. WiGig technology's ability to provide wireless network connectivity helps effectively manage multiple applications in smart cities.
"Consumer electronics end user in Wireless gigabit market to account for the highest CAGR during the forecast period."
Consumer electronics in the Wireless gigabit market are projected to hold the second highest CAGR during the forecast period. This growth is attributed to the rising consumption of definition media such as online gaming and video streaming. Additionally, the increasing adoption of smart devices such as smartphones and laptops fuels the adoption of advanced wireless technologies such as WiGig. Also, the adoption of AR/VR devices requires high-speed and low-latency connections, enabling the growth of the WiGig market.
"Wireless gigabit market for Europe to account for the second highest CAGR during the forecast period."
The Wireless gigabit market in Europe is expected to hold the second highest CAGR during the forecast period. The growth is primarily driven by the expansion of smart cities across Europe, which requires high-speed wireless communication. Additionally, European companies are undergoing digital transformation to improve productivity and adopt cloud infrastructure, leading to the demand for advanced wireless communication, such as WiGig. Also, the significant investment in expanding digital infrastructure promotes the adoption of WiGig technology.
The key players operating in the Wireless gigabit market are Peraso Technologies Inc. (US), Tensorcom, Inc. (US), Sivers Semiconductors AB (Sweden), STMicroelectronics (Switzerland), and Qualcomm (US).
The research report categorizes the Wireless gigabit market by Offering (SoC and Modules), Protocol (IEEE 802.11ad and IEEE 802.11ay), Channel (57-59 GHz, 59-61 GHz, 61-63 GHz, 63-65 GHz, Others (65-71 GHz)), Product (Display Devices and Network Infrastructure Devices), End User (Consumer Electronics, Telecom, Railway, Automotive, Commercial, Other End Users), Region (North America, Europe, Asia Pacific, and RoW).
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