CHICAGO, March 16, 2021 /PRNewswire/ -- According to the new market research report "Wireless Gigabit Market with COVID-19 impact by Product (Display Devices and Network Infrastructure Devices), Technology (SoC and IC Chips), Protocol (802.11ad and 802.11ay), End Use, and Geography - Global Forecast to 2026", published by MarketsandMarkets, the market size is projected to reach USD 70 million by 2026 from USD 19 million in 2021 at a CAGR of 29.8%. The increasing need for faster data transfer, coupled with the advantages of the 60 GHz frequency band such as unlicensed availability, high-speed data transfer rates, and highly secure and virtually interference-free operations, is expected to drive the market from 2021 to 2026. Moreover, increasing use of V-band mmWave for last-mile connectivity is expected to offer significant growth opportunities for the wireless gigabit market.
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Network infrastructure devices segment to hold the largest size of the wireless gigabit market from 2021 to 2026
The network infrastructure devices segment is expected to dominate the wireless gigabit market over the forecast period. Wireless gigabit network infrastructure devices are broadly classified into routers, adapters, backhaul stations, and docking stations. Wireless backhaul is expected to become the most viable alternative to funnel back the data to the network backbone, as there are many outdoor locations where fiber is not available or is too expensive to connect. The communication links of 60 GHz are emerging as one of the leading contenders to provide backhaul links for many outdoor small cells that will be required to meet the capacity demands.
The wireless gigabit market for the networking end-use is projected to grow at the highest CAGR during the forecast period
The market for the networking segment is expected to witness considerable growth during the forecast period. The major reason for this growth is the use of WiGig for backhaul applications. The emergence of 60 GHz FWA solutions is expected to eliminate the need for fiber deployments, especially in areas where infrastructure is poor. The rising demand for fiber-grade connectivity globally is expected to create demand for cost-effective FWA infrastructures. This is likely to fuel the growth of the wireless gigabit market during the forecast period.
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Europe to be the fastest-growing market for wireless gigabit during the forecast period
The wireless gigabit market in Europe is expected to grow at the highest CAGR from 2021 to 2026. The growth of the European market is driven by the development of next-generation devices, need for high-speed Internet, need for high data throughput or data transfer at a faster rate, and availability of low-cost wireless gigabit products. The market is in the burgeoning phase, and because of the tremendous research activities in the region and high growth opportunities, the region is likely to oversee commercialized wireless gigabit products & services in the near future in almost every application area ranging from display devices to FWA and backhaul.
The key players operating in the wireless gigabit market include Qualcomm Inc. (US), Sivers Semiconductors AB (Sweden), Intel Corp. (US), Peraso Technologies (Canada), Tensorcom Inc. (US), STMicroelectronics (Switzerland), Broadcom Inc. (US), NXP Semiconductors (Netherlands), Advanced Micro Devices, Inc. (US), and Infineon Technologies AG (Germany).
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Wireless Connectivity Market by Connectivity Technology (Wi-Fi, Bluetooth, NFC, ZigBee, GNSS, LTE CAT-M1, NB-IoT, LoRa, SigFox), Type (WLAN, WPAN, LPWAN), End-use (Wearables, Consumer Electronics, Healthcare), and Region - Global Forecast to 2025
5G Chipset Market with COVID-19 Impact by Type (Modem, RFIC), Frequency (Sub-6 GHz, 24- 39 GHz, Above 39 GHz), End-Use (Telecommunication Infrastructure, Mobile Devices, Non-mobile Devices, Automobile), Process Node & Geography - Global Forecast to 2027
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