DELRAY BEACH, Fla., Sept. 4, 2024 /PRNewswire/ -- 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 according to a new report by MarketsandMarkets. The growing adoption of AR/VR devices, IoT, and connected devices, and rising demand for definition video streaming and online gaming create new avenues for wireless gigabit applications. Continuous advancements in wireless communication technologies drive market growth by offering enhanced speed and capacity. Additionally, the increasing adoption of integration of IoT devices in smart infrastructure applications such as traffic management, connected public systems, will drive the demand for wireless gigabit market.
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Browse in-depth TOC on "Wireless Gigabit Market"
199 - Tables
60 - Figures
283 - Pages
Wireless Gigabit Market Report Scope:
Report Coverage | Details |
Market Revenue in 2024 | $ 66.9 million |
Estimated Value by 2029 | $ 138.8 million |
Growth Rate | Poised to grow at a CAGR of 15.7% |
Market Size Available for | 2020-2029 |
Forecast Period | 2024-2029 |
Forecast Units | Value (USD Million/Billion) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | By Offering, By Protocol, By Channel, By Product, and By End User and Region |
Geographies Covered | North America, Europe, Asia Pacific, and Rest of World |
Key Market Challenge | Increasing prevalence of innovative city initiatives |
Key Market Opportunities | Increasing prevalence of innovative city initiatives |
Key Market Drivers | Growing demand for HD video streaming |
The Wireless gigabit module market will hold the highest CAGR during the forecast period.
The module in the wireless gigabit market is expected to hold the highest CAGR during the forecast period. This growth is attributed to the growing need for high-performance computing in consumer electronics such as smartphones, laptops, and AR/VR devices that require high-speed wireless connectivity to support faster data processing and communication. Additionally, the development of cost-effective manufacturing processes for WiGig-enabled modules, including advancements in semiconductor fabrication, is making these components more accessible and driving market growth.
The Wireless gigabit market for network infrastructure devices to hold the highest CAGR during the forecast period.
The wireless gigabit market for network infrastructure devices is expected to hold the highest CAGR during the forecast period. This growth is driven by the rapid urbanization and expansion of the smart home ecosystem, where connected devices must communicate wirelessly with network devices. WiGig technology allows multiple devices to connect to a single network device with interference, driving its adoption in households and offices with multiple users. Additionally, the increasing preference for cable-free environments, especially in modern homes and offices, is driving the adoption of WiGig-enabled network infrastructure devices.
The wireless gigabit market for telecom end users is expected to hold the highest CAGR during the forecast period.
The wireless gigabit market for telecom end-users will hold the highest CAGR during the forecast period. This growth is attributed to WiGig's ability to support high-speed wireless access for residential and commercial broadband services, meeting the demand for fast and reliable connections. Additionally, wireless gigabit offers cost-effective solutions for high-speed internet connectivity, eliminating the need for expensive fiber optics cables and infrastructure. Also, the demand for high bandwidth services such as cloud computing and IoT applications drives the WiGig market for telecom.
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The Wireless gigabit market for North America to hold the highest CAGR during the forecast period.
The Wireless gigabit industry in the Asia Pacific region is expected to hold the highest CAGR during the forecast period. Rapid innovation in enterprise networking for high-speed wireless backhaul and network infrastructure solutions drives the market demand in the region. Additionally, the government in the region has launched various policies promoting the adoption of advanced wireless connectivity technologies. Also, the rising popularity of online gaming, which requires low-latency connections, drives market growth.
Key Players
The Wireless gigabit Companies includes significant Tier I and II players like Peraso Technologies Inc. (US), Tensorcom, Inc. (US), Sivers Semiconductors AB (Sweden), STMicroelectronics (Switzerland), Qualcomm (US), and others. These players have a strong market presence for Wireless gigabit across various North America, Europe, Asia Pacific, and RoW countries.
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