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Global WiGig Market to Reach US$ 6.63 Billion by 2027, Influenced by Increasing Investments in the Development of Smart Cities

Published on Mar 28, 2022

The latest report by IMARC Group, titled “WiGig Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027,” finds that the global WiGig market size reached US$ 2.24 Billion in 2021. WiGig refers to a wireless gigabit Wi-Fi network protocol used in various devices to enable high-speed transmission of display and audio. It provides fast, low-latency wireless internet connectivity by using beamforming technology that sends a signal up to 10 meters. It also offers instant transmission of data, faster communication, accuracy, security, and reduced interference. Owing to these benefits, WiGig is widely utilized in general-purpose networking, personal computer (PC) docking, gaming, multimedia streaming, file transferring, and various enterprise applications. 

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Global WiGig Market Trends:

The market is primarily driven by the rising investments in the development of smart cities by governments of numerous countries. In addition, the integration of the Internet of Things (IoT) and cloud solutions across various industries represent another major growth-inducing factor. Besides this, enterprises extensively utilize WiGig devices to enable working professionals to execute various allocated tasks, such as delivering large files, running bandwidth applications, and projecting graphics and audio to a large screen. This, coupled with the rising adoption of Wi-Fi enabled devices such as smartphones and laptops, are positively influencing the market growth. Moreover, WiGig devices are extensively employed for fast download of high definition (HD) movies, simultaneous streaming of multiple, ultra-HD videos, immersive gaming, augmented reality (AR), and virtual reality (VR) experiences. Furthermore, the increasing consumer spending on digital media on account of inflating disposable incomes is also propelling the market growth. Looking forward, IMARC Group expects the market value to reach US$ 6.63 Billion by 2027, expanding at a CAGR of 18.60% during the forecast period (2022-2027).

Market Summary:

  • Based on the product, the market has been bifurcated into networking devices and consumer electronics. 
  • On the basis of the protocol, the market has been segregated into 802.11ac and 802.11ad. 
  • Based on technology type, the market has been categorized into system-on-chip (SoC) and integrated circuit chip (IC).  
  • Based on the enterprise size, the market has been segmented into small and medium-sized, and large enterprises. 
  • On the basis of the end use industry, the market has been divided into the BFSI, healthcare, IT and telecom, retail, media and entertainment and others. 
  • Region-wise, the market has been segmented into North America (the United States, and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa. 
  • The competitive landscape of the market has also been examined, with some of the key players being Blu Wireless, Broadcom Inc, Cisco Systems Inc., Intel Corporation, Marvell Technology Inc., NXP Semiconductors N.V., Panasonic Corporation, Peraso Technologies Inc., Qualcomm Technologies Inc., Samsung Electronics Co. Ltd., Sivers Semiconductors AB and Tensorcom Inc.

 

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