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.
 |
| India WiGig Market By Application, 2014 - 2024 (USD Million) |
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 (WiGig) 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
·
802.11ad
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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