The global
wireless gigabit (WiGig) market size is expected to reach USD 7.42 billion by
2024, according to a new report by Grand View Research, Inc. The increasing
requirement for improved internet connectivity and better speed is driving the
high-speed Internet growth across the globe. Moreover, the high penetration of
smartphones and use of multiple devices are contributing to the overall
industry growth. Global consumers demand high-speed connectivity without wires
fastening them to their devices. Due to its capability of providing
multi-gigabit data transfer, the technology is widely used in applications
right from video streaming to backing up files.
As consumers
demand wireless videos and data continues to grow, 802.11ad in the 60GHz
spectrum shall provide more enhanced network capacity that makes it a feasible
extension for the congested 2.4GHz/5GHz Wi-Fi spectrum.
Companies
serving verticals such as media and entertainment, online gaming, healthcare,
hospitality, educational institutions, research environments, and financial
services, among others require a big bandwidth and high-speed Ethernet options.
Furthermore, businesses are increasingly deploying resources to the cloud,
whether a public, private, or hybrid cloud environment. Maximizing the effectiveness
of cloud computing depends on the sufficient broadband speed and reliability
that is also cost-effective. Such factors are increasingly contributing toward
the rapid industry growth.
However, the
escalation in productivity from BYOD devices has put more pressure on wireless
networks, making costs harder to control and the devices more complex to manage
within an organization. Due to the growing transition toward virtualization and
BYOD, business networks are struggling with increased complexity.
In depth research report on Wireless Gigabit Market
Further key findings from the study suggest:
·
The 802.11ac segment dominated the industry, which is
anticipated to grow at a CAGR of nearly 30% over the forecast period. The
exponential growth of virtualization, video, and mobility has led to an
increase in the demand for bandwidth. Moreover, organizations require robust,
adaptable, and easily positioned wireless LAN solutions as more of their
workforces are accessing the network using intelligent mobile devices that run
high bandwidth applications. These factors are leading to the rapid adoption of
802.11ac-enabled devices.
·
The consumer electronics segment is anticipated to
significantly dominate the industry over the forecast period with a CAGR of
over 31%, owing to the increasing proliferation of consumer devices such as
smartphones, tablets, and laptops. Owing to the rise in the adoption of these
consumer devices, many business networks have experienced network congestion
issues along with interference. This has led several network operators to move
their dual-band services to operate using the 5GHz spectrum, thus driving the
growth of the WiGig market.
·
IT & telecom led the industry with a share of 29% in
2015. With the improvement in the telecom connectivity, companies are
increasingly adopting applications such as BYOD throughout their operations.
Moreover, the increase in the employee strength and the growing demand for
worldwide coordination have, in turn, increased the demand for the high-speed
Internet. This propels the IT & telecom organizations to use WiGig
solutions across their businesses.
·
Asia Pacific is projected to be a key regional segment
with over 45% of the overall revenue share in 2015. The presence of a large
number of WiGig manufacturers is the key factor for the dominating share
accounted by the region. The presence of robust economies, such as India and
China, is also expected to drive the regional growth. Moreover, the rising
adoption of third-party platforms by enterprises, along with varied government
initiatives, is projected to drive the need for smart network solutions.
·
The key vendors in the WiGig market include Intel
Corporation, Qualcomm, Broadcom Corporation, Panasonic Corporation, Marvell
Technology Group Ltd., NEC Corporation, Cisco Systems, Inc., MediaTek, Nvidia
Corporation, and Azurewave Technologies, Inc. Industry players are continuously
investing in partnerships and new products to create opportunities for entering
into new verticals and gaining a significant industry share.
Grand View
Research has segmented the global wireless gigabit market on the basis of type,
product, end-use, application, and region:
WiGig Type Outlook (Revenue, USD Million, 2014 - 2024)
·
802.11ac
·
802.11ac
WiGig Product Outlook (Revenue, USD Million, 2014 - 2024)
·
Consumer electronics
·
Networking devices
WiGig End-use Outlook (Revenue, USD Million, 2014 - 2024)
·
Large enterprises
·
SMBs
·
Residential
WiGig Application Outlook (Revenue, USD Million, 2014 - 2024)
·
BFSI
·
Government
·
IT & Telecom
·
Retail
·
Healthcare
·
Others
WiGig Regional Outlook (Revenue, USD Million, 2014 - 2024)
·
North America
o U.S.
o Canada
·
Europe
o Germany
o UK
·
Asia Pacific
o China
o India
o Japan
·
Latin America
o Brazil
o Mexico
·
MEA
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About Grand View Research
Grand View
Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
For more market
analysis reports, please visit: http://www.grandviewresearch.com/
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