Wireless Gigabit Market Size To Reach $159.1 Million By 2030

Wireless Gigabit Market Growth & Trends

The global wireless gigabit market size is expected to reach USD 159.1 million by 2030, registering a CAGR of 26.3% during the forecast period, according to a new report by Grand View Research, Inc. The increasing requirement for improved internet connectivity and better speed is driving the high-speed Internet growth across the globe. Moreover, the high penetration of smartphones and use of multiple devices are contributing to the overall industry growth. Global consumers demand high-speed connectivity without wires fastening them to their devices. Due to its capability of providing multi-gigabit data transfer, the technology is widely used in applications right from video streaming to backing up files.

As consumers demand wireless videos and data continues to grow, 802.11ad in the 60GHz spectrum shall provide more enhanced network capacity that makes it a feasible extension for the congested 2.4GHz/5GHz Wi-Fi spectrum.

Companies serving verticals such as media and entertainment, online gaming, healthcare, hospitality, educational institutions, research environments, and financial services, among others require a big bandwidth and high-speed Ethernet options. Furthermore, businesses are increasingly deploying resources to the cloud, whether a public, private, or hybrid cloud environment. Maximizing the effectiveness of cloud computing depends on the sufficient broadband speed and reliability that is also cost-effective. Such factors are increasingly contributing toward the rapid industry growth.

However, the escalation in productivity from BYOD devices has put more pressure on wireless networks, making costs harder to control and the devices more complex to manage within an organization. Due to the growing transition toward virtualization and BYOD, business networks are struggling with increased complexity.

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Wireless Gigabit Market Report Highlights

• The consumer electronics segment is anticipated to grow at the fastest CAGR over the forecast period, owing to the increasing proliferation of consumer devices such as smartphones, tablets, and laptops.Owing to the rise in the adoption of these consumer devices, many business networks have experienced network congestion issues along with interference. This has led several network operators to move their dual-band services to operate using the 5GHz spectrum, thus driving the growth of the WiGig market.

• Based on technology, the system on chip (SoC) segment held the largest market revenue share in 2023, due to its ability to integrate multiple functions into a single chip, leading to improved performance, reduced power consumption, and lower costs.

• Asia Pacific is projected to be a key regional segment with over 32.7% of the overall revenue share in 2015. The presence of a large number of WiGig manufacturers is the key factor for the dominating share accounted by the region. The presence of robust economies, such as India and China, is also expected to drive the regional growth. Moreover, the rising adoption of third-party platforms by enterprises, along with varied government initiatives, is projected to drive the need for smart network solutions.

Wireless Gigabit Market Segmentation

Grand View Research has segmented the global wireless gigabit (WiGig) market based on product, technology, end-use, and region:

Wireless Gigabit (WiGig) Product Outlook (Revenue, USD Million, 2017 - 2030)

• Display Devices

• Network Infrastructure Devices

Wireless Gigabit (WiGig) Technology Outlook (Revenue, USD Million, 2017 - 2030)

• System-on-Chip (SoC)

• Integrated Circuit Chip (IC Chip)

Wireless Gigabit (WiGig) End-use Outlook (Revenue, USD Million, 2017 - 2030)

• Networking

• Consumer Electronics

• Others

Wireless Gigabit (WiGig) Regional Outlook (Revenue, USD Million, 2017 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • UK

  • Germany

  • France

• Asia Pacific

  • China

  • India

  • Japan

  • Australia

  • South Korea

• Latin America

  • Brazil

• Middle East and Africa (MEA)

  • South Africa

  • Saudi Arabia

  • UAE

List of Key Players in the Wireless Gigabit Market

• Broadcom

• Cisco Systems, Inc.

• Intel Corporation

• NETGEAR

• Panasonic Holdings Corporation

• PERASO TECHNOLOGIES INC.

• Qualcomm Technologies, Inc. 

• Samsung

• Tensorcom, Inc.

• Ubiquiti Inc.