Wireless Gigabit (WiGig) Market is Benefitted Mainly Due to the Extensive Initiatives Of USD 7.42 billion by 2024
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.
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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.
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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Market Segment:
WiGig Type Outlook (Revenue, USD Million, 2014 – 2024)
• 802.11ac
• 802.11ad
WiGig Product Outlook (Revenue, USD Million, 2014 – 2024)
• Consumer electronics
• Networking devices
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