Report Overview
WiGig Market Size, Share, Highlights
The WiGig market is expected to grow at a CAGR of 18.67% reaching a market size of US$71.221 billion in 2029 from US$21.489 billion in 2022.
WiGig, is a wireless network technology that enables multi-gigabit communication between devices without the need for cables. It empowers superior execution of remote information, show, and sound. The name WiGig comes from the Wireless Gigabit Alliance, which was formed to promote the adoption of IEEE 802.11ad, the current WiGig standard. The WiGig specification supports data transmission rates up to 7 Gbit/s, which is over eleven times faster than the current Wi-Fi standard. WiGig is expected to enable wireless connectivity of up to 7Gbps in data, display, and audio.
WiGig Market Trends:
The WiGig market will be experiencing significant growth over the next five years. Key players in the market include Panasonic Corporation, Qualcomm Technologies, Inc., Intel Corporation, and Broadcom Inc. As the demand for high-speed wireless data, display, and audio increases, the WiGig market is expected to continue to expand. However, increased levels of IT spending and changing budget distribution will drive infrastructure needs.
WiGig Market Drivers:
Increasing use of high-speed internet connectivity
High-speed, reliable, and resilient connectivity is becoming more and more in demand as a result of the growing digital transformation. WiGig is superior to other technologies because it offers high-speed connections with lower latency for applications like gaming, streaming 8K videos, video conferencing, and AR/VR. The adoption of wireless gigabit devices is largely due to its relative affordability and flexibility, which make it easy to scale networks to meet changing business needs. Additionally, it provides a full range of easily set up and manageable security and control options that enable seamless device launch.
Furthermore, as more people are using laptops, desktop computers, and cell phones for work purposes, there is an increasing need for high network capacity and internet speed to support the vast array of applications and services. As a result, the increasing need for high-speed internet connections to process applications and work-related activities more quickly is driving market growth.
Rising government investments
Public Wi-Fi is helping to achieve several smart city goals, such as closing the digital divide, facilitating the Internet of Things (IoT), and offering amenities and services to both locals and visitors. The primary driver of the market's expansion is the growing investments being made in smart cities by various national government agencies. Furthermore, a lot of businesses are using wireless gigabit devices so that staff members can finish their work from various devices without using a cable. In addition, it facilitates the seamless operation of bandwidth-intensive applications, the effective connection of office networks, the transfer of big files, and the widescreen display of images and video in conference rooms. Furthermore, in public kiosk services, wireless gigabit devices enable the use of wireless docking between smartphones, laptops, projectors, and tablets.
Increased preference of BYOD policies
The market for WiGig is expected to be driven in the future by the growing inclination of organizations operating in different end-use industries towards Bring Your Own Device (BYOD) policies. Businesses can increase their IT infrastructure budgets to boost network speed thanks to the BYOD trend. A significant reliance on high bandwidth and internet speed is being created by the increasing use of smartphones, laptops, desktop computers, and other electronic devices at work to support the numerous apps and services. Additionally, the market is expanding due to the growing need for a high-speed internet connection to expedite work-related activities and applications.
High demand from gaming industry
The more intricate online multiplayer games teach players to evaluate risk and reward analytically and strategically. Young players must respond quickly to game changes to win these games. Kids benefit from this game because the skills they acquire can be used in real-world jobs that call for analytical thinking, problem-solving, and strategic thinking. Since games let kids interact with people from all over the world and immerse themselves in virtual worlds, they may be an excellent way for kids to learn about a variety of concepts and cultures. Gaming-related wireless gigabit market demand would increase as a result of these trends.
Through end-to-end local game development, the internet ecosystem has started a course correction in recent years. For example, Zynga had some difficult years after switching from social to mobile, but in February 2022, the company reported Q4 revenue of USD 727 million, up 52% from the previous year. In June 2019, Zynga released Farmville-3, a free game that was primarily meant to be played on Facebook. Farmville-3 is a Flash-based game.
WiGig Market Geographical Outlook:
Asia Pacific is witnessing exponential growth during the forecast period
The Asia Pacific region is expected to hold a significant share of the WiGig market due to various factors. The Asia Pacific region has a large population and a growing demand for high-speed internet connectivity. WiGig's high-speed wireless connectivity makes it well-suited to meet this demand. The region is experiencing a greater demand of IoT devices which is driving the demand for WiGig. WiGig's multi-gigabit speeds make it ideal for IoT applications, enabling improved performance and reduced power consumption of IoT devices. WiGig's high-speed wireless connectivity makes it well-suited for wireless devices, as it can improve the performance and efficiency of these devices.
Key WiGig Market Players and Products:
- QCA9500 is Qualcomm Technologies’ multi-gigabit 802.11ad answer for cell phones and passages (switches). Using the transmission capacity-rich 60 GHz millimeter wave band, QCA9500 is designed to present to 4.6 Gbps top speed and extremely low idleness. It follows IEEE 802.11ad determinations and Wi-Fi Ensured WiGig necessities.
- Intel offers IEEE 802.11ad WiGig LDPC Decoder. It conveys information paces of up to 7 Gbit/s and consequently beats the ongoing IEEE 802.11n norm by more than 10x. It utilizes the 60 GHz band to empower short-reach correspondence and interoperability between a wide arrangement of uses and stages.
Market key launches
- In November 2023, Nextlink Internet has placed a significant order with Cambium Networks, a provider of networking solutions, to expand its coverage area using the cutting-edge ePMP 6 GHz fixed wireless broadband solution. The primary use of ePMP by Nextlink is to link isolated locations in rural areas with low population densities. The American heartland's rural and suburban populations will reap the benefits of this strategic investment in Cambium Networks' solutions, which will significantly improve gigabit fixed wireless accessibility.
- In October 2023, Tarana Wireless, Inc. announced that Gigabit 1, its advanced fixed wireless access (ngFWA) platform, can function in the newly available, vast unlicensed 6 GHz spectrum in the United States. The nation's public and private sectors are currently focusing a great deal of their energy on finding solutions for the persistent broadband issues.
WiGig Market Scope:
| Report Metric | Details |
|---|---|
| Study Period | 2021 to 2031 |
| Historical Data | 2021 to 2024 |
| Base Year | 2025 |
| Forecast Period | 2026 – 2031 |
| Report Metric | Details |
| Market Size Value in 2022 | US$21.489 billion |
| Market Size Value in 2029 | US$71.221 billion |
| Growth Rate | CAGR of 18.67% from 2022 to 2029 |
| Study Period: |
2019 to 2029 |
| Historical Data: |
2019 to 2022 |
| Base Year | 2023 |
| Forecast Period | 2024 – 2029 |
| Forecast Unit (Value) | USD Billion |
| Segments Covered |
|
| Companies Covered | |
| Regions Covered | North America, South America, Europe, Middle East and Africa, Asia Pacific |
| Customization Scope | Free report customization with purchase |
Segmentation:
- By Frequency
- 802.11ay
- 802.11ad
- By Technology
- System-on-Chip (SoC)
- Integrated Circuit Chips (IC)
- By Application
- Networking Infrastructure Devices
- Display Devices
- By End-User
- IT & Telecom
- Healthcare
- BFSI
- Automotive
- Retail
- Media & Entertainment
- Others
- By Geography
- North America
- United States
- Canada
- Mexico
- South America
- Brazil
- Argentina
- Others
- Europe
- United Kingdom
- Germany
- France
- Spain
- Others
- Middle East and Africa
- Saudi Arabia
- UAE
- Israel
- Others
- Asia Pacific
- Japan
- China
- India
- South Korea
- Indonesia
- Thailand
- Others
- North America