WiGig Global Market Report 2024

WiGig is a wireless technology that facilitates multi-gigabit-per-second data rates from Wi-Fi devices by utilizing the unoccupied 60 GHz frequency range. It is designed to support data-intensive activities such as streaming high-definition video, virtual reality, and wireless device docking. WiGig is particularly suitable for bandwidth-demanding applications due to its operation at multi-gigabit speeds and low latency.

The primary types of products within WiGig include display devices and network infrastructure devices. A display device is a tool used to present information in the form of images. The technologies employed include system-on-chip (SoC) and integrated circuit chip (IC). These WiGig products cater to enterprises of various sizes, including large enterprises and small and medium-sized enterprises. The technology is applied across various end-use industries, including BFSI (banking, financial services, and insurance), healthcare, IT and telecom, retail, media and entertainment, among others.

The WiGig market research report is one of a series of new reports from The Business Research Company that provides WiGig market statistics, including WiGig industry global market size, regional shares, competitors with a WiGig market share, detailed WiGig market segments, market trends and opportunities, and any further data you may need to thrive in the WiGig industry. This WiGig market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The wigig market size has grown exponentially in recent years. It will grow from $4.04 billion in 2023 to $5.15 billion in 2024 at a compound annual growth rate (CAGR) of 27.4%. The expansion during the historical period can be attributed to the increased demand for high-speed wireless communication, the growth in data traffic, the proliferation of smartphones and smart devices, the expanding usage of the internet, and the development of multimedia applications.

The wigig market size is expected to see exponential growth in the next few years. It will grow to $13.56 billion in 2028 at a compound annual growth rate (CAGR) of 27.4%. The anticipated growth in the forecast period can be attributed to 5G network deployment, the increasing adoption of Internet of Things (IoT) devices, the demand for high-performance wireless connectivity in automotive applications, the expansion of smart city initiatives, and the rising need for low-latency communication. Key trends expected in the forecast period include the development of advanced modulation techniques, an increased focus on millimeter-wave communication, the integration of WiGig in enterprise networking solutions, rising demand for WiGig in gaming and entertainment, and the emergence of new form factors and devices supporting WiGig.

The anticipated surge in demand for high-speed internet is poised to drive the growth of the WiGig market. High-speed internet, characterized by faster download and upload speeds than traditional connections, is exemplified by the fifth generation of wireless technology, 5G. WiGig, designed to provide high-speed connectivity, has the capability to double current wireless internet speeds up to 8 Gbps. This technology facilitates high-performance wireless data, display, and audio applications, enabling devices to communicate wirelessly at multi-gigabit speeds. In February 2023, HighSpeedInternet.com reported that the average national internet speed in the US nearly doubled to 99.3 Mbps in 2021 from 42.86 Mbps in 2020. With access to high-speed internet for over 97% of people in the US in 2021, as per USAFacts, internet downloads increased by 26.6% between 2020 and 2021, emphasizing the role of high-speed internet in driving the WiGig market.

The rapid expansion of the gaming industry is expected to be a catalyst for the growth of the WiGig market. WiGig, beyond offering fast wireless connections, addresses the gaming industry's need for higher mobility, lower latency, and an overall enhanced gaming experience. The Australian games market, for instance, witnessed a 21% year-over-year revenue increase to $248.76 million (AU$345.5 million) in December 2023, according to GamesIndustry.biz. This growth in the gaming industry is a significant driver for the WiGig market.

Technological advancement emerges as a prominent trend in the WiGig market, with major companies focusing on adopting advanced technological solutions to maintain their market positions. In October 2021, Movandi Corporation announced the launch of the next-generation 60 GHz mmWave Chipset, designed to maximize the potential of the 60 GHz unlicensed band for applications such as wireless backhaul, 5G NR-U, Fixed Wireless Access (FWA), and Wi-Fi at 60 GHz (WiGig). This technology allows operators to provide 'fiber-such as speeds' at a more affordable cost than laying new fiber, showcasing the commitment to technological innovation in the WiGig market.

Major companies operating in the WiGig market are also concentrating on developing innovative products such as ultra-fast gigabit antennas to better meet the needs of consumers. Ultra-fast gigabit antennas, intended for rapid data transfer in wireless communication systems, were launched by Pasternack Enterprises, Inc. in August 2023. These antennas, part of the Wi-Fi 6E antenna line, promise to propel network performance and reliability to new heights by utilizing the latest Wi-Fi 6E frequency bands for gigabit transfers and maximum compatibility.

In December 2021, Molex LLC acquired Keyssa Inc., a provider of WiGig technology, for an undisclosed amount. This acquisition is expected to enhance Molex's micro connection portfolio with cable-free connectors for near-field, device-to-device applications, showcasing the strategic importance of WiGig technology in the industry.

Major companies operating in the wigig market report are Samsung Electronics Co. Ltd., Microsoft Corporation, Dell Inc., Lenovo Group Ltd., Panasonic Corporation, Intel Corporation, Qualcomm Technologies Inc., Broadcom Inc., NXP Semiconductors N.V., Agilent Technologies Inc., Keysight Technologies Inc., Fujikura Ltd., Marvell Technology Inc., Teradyne Inc., Rohde & Schwarz GmbH & Co KG, Anritsu Corporation, Lattice Semiconductor Corporation, InterDigital Inc., AzureWave Technologies Inc., DisplayLink Corp., Siklu Communication Ltd., Peraso Technologies Inc., Blu Wireless Technology Limited, Sivers Semiconductors AB, Tensorcom Inc., Laird PLC, Movandi Corporation

North America was the largest region in the WiGig market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the wigig market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the wigig market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

The WiGig market consists of revenues earned by entities by providing fast data transfer, multimedia streaming, backhaul technology, and enterprise connectivity solutions. The market value includes the value of related goods sold by the service provider or included within the service offering. The WiGig market also includes sales of wireless adapters, routers, WiGig cards, WiGig antennas, and wireless docking stations. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

WiGig Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on wigig market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for wigig ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The wigig market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of covid 19 on supply chains and consumption patterns.

• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:

• 1) By Product: Display Devices; Network Infrastructure Devices
• 2) By Technology Type: System-on-Chip (SoC); Integrated Circuit Chip (IC)
• 3) By Enterprise Size: Large Enterprises; Small And Medium-sized Enterprises
• 4) By End Use Industry: BFSI (Banking, Financial Services, And Insurance); Healthcare; IT And Telecom; Retail; Media and Entertainment; Other End Use Industries
• Companies Mentioned: Samsung Electronics Co. Ltd.; Microsoft Corporation; Dell Inc.; Lenovo Group Ltd.; Panasonic Corporation
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
• Delivery format: PDF, Word and Excel Data Dashboard.