6th January 2020 – Global Wireless
Gigabit (WiGig) Market is anticipated to reach USD 7.42 billion by 2024.
Wireless Gigabit (WiGig) is designed to render faster speed for wireless
network connections. WiGig is also termed as the “IEEE 802.11ad standard”. The
factors that propel the growth of the Wireless Gigabit Market include increase
in the demand for bandwidth, saturation of smartphones and use of several
devices that are eventually contributing to the overall industry development.
On the other hand, there are factors that may hamper the growth of the market
including rise in the cost of IPAM.
Wireless Gigabit (WiGig) industry is
anticipated to grow at a significant CAGR in the upcoming period as the scope,
product types, and its applications are increasing across the globe. The
industry may be explored by product type, type, application, technology and geography.
Wireless Gigabit Industry may be
explored by product type as Network Infrastructure Devices, and Display
Devices. The market may be analyzed by type as 802.11ad, and 802.11ac.The
“802.11ac”segment led the Wireless Gigabit (WiGig) Market in 2016 and is
anticipated to maintain its dominance by 2024. The factor that could be
attributed to the growth might includes fast acceptance of 802.11ac-enabled
devices.
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The key applications that could be explored
in the market include Government, BFSI, IT & Telecom, Healthcare, Retail,
and Others. The “IT & Telecom” segment led the Wireless Gigabit (WiGig)
industry in 2015 and is anticipated to maintain its dominance by 2024. The
factors that could be attributed to the growth could include steady acceptance
of applications such as BYOD throughout their progressions and improved demand
for the high-speed Internet. The market could be explored based on technology
as Integrated Circuit Chip, and System on Chip.
Asia-Pacific accounted for the major
share of the Wireless Gigabit Market Size in 2015 and will continue to lead in
the forecast period. The key factor that could be attributed to the growth
includes increasing production of Ethernet routers and switches in developing
countries such as Japan, China, and India; eventually contributing to the
regional development. Also, factors like increasing IT spending and shifting
budget distributions in emerging nations are attracting demand for technically
progressive products in order to develop the present initiative infrastructure.
Some of the key players that fuel the
growth of the Wireless Gigabit (WiGig) Industry comprise Qualcomm, Intel
Corporation, Panasonic Corporation, Marvell Technology Group Ltd., Broadcom
Corporation, Cisco Systems, Inc., NEC Corporation, Nvidia Corporation,
Azurewave Technologies, Inc., and MediaTek. The leading companies are taking up
partnerships, mergers and acquisitions, and joint ventures in order to boost
the inorganic growth of the industry.
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