The global wireless gigabit market size is estimated at USD 19 million in 2021. It is projected to reach USD 70 million by 2026; it is expected to grow at a CAGR of 29.8% from 2021 to 2026. The increasing need for faster data transfer, coupled with the advantages of the 60 GHz frequency band such as unlicensed availability, high-speed data transfer rates, and highly secure and virtually interference-free operations, is expected to drive the market from 2021 to 2026. However, the short operating range of wireless gigabit products could challenge the adoption of this technology.
COVID-19 has affected the production capacities and financial conditions of the providers of wireless gigabit-enabled devices. The pandemic has resulted in a widespread health crisis, which is adversely affecting the financial markets and economies of countries and end users. This is expected to lead to an economic downturn and negatively affect the wireless gigabit market in the short term.
“The market for network infrastructure devices to witness high-growth potential during the forecast period”
Wireless gigabit technology has gained significant importance over the past few years, especially for network infrastructure devices. The market for network infrastructure devices is projected to grow at the highest CAGR from 2021 to 2026. Market players such as Netgear, IgniteNet, Ubiquiti Inc., Siklu, and Aruba are offering 60 GHz wireless network infrastructure devices and solutions to grow their client base and business. The need for devices with high data throughput is likely to drive the wireless gigabit market for the network infrastructure devices segment during the forecast period.
“The wireless gigabit market in networking end use to grow at highest CAGR during the forecast period”
The market for the networking segment is expected to witness considerable growth during the forecast period. The major reason for this trend is the use of wireless gigabit technology for small cell backhaul applications. The emergence of 60 GHz FWA solutions is expected to eliminate the need for fiber deployments, especially in areas where infrastructure is poor. The rising demand for fiber-grade connectivity globally is expected to create demand for cost-effective FWA infrastructures.
“North America to be the largest market for wireless gigabit during the forecast period”
North America is one of the leading markets for 60 GHz technology in terms of R&D, network design/development, and the presence of key market players. Many areas in the region lack access to broadband internet. The 60 GHz mmWave technology holds considerable potential and is expected to be used to provide fixed broadband wireless solutions in the region. This is expected to drive the wireless gigabit market in the region.
The COVID-19 pandemic has significantly disrupted the global supply chains, resulting in the slow growth of various display devices such as AR/VR headsets and smartphones. However, in North America the pandemic has not shifted the outlook for FWA solutions significantly. The pandemic has created a demand for replacing the capacity lost in damaged networks and establishing new broadband connections to locations such as temporary hospitals in large convention centers and field hospitals in parks.
Break-up of the profiles of primary participants:
- By Company Type – Tier 1 – 35%, Tier 2 – 45%, and Tier 3 – 20%
- By Designation – C-level Executives – 35%, Directors – 25%, and Others – 40%
- By Region – North America - 45%, Europe – 20%, APAC – 30%, and RoW – 5%
Key players in the market include Qualcomm Inc. (US), Sivers Semiconductors AB (Sweden), Intel Corp. (US), Peraso Technologies (Canada), Tensorcom Inc. (US), STMicroelectronics (Switzerland), Broadcom Inc. (US), NXP Semiconductors (Netherlands), Advanced Micro Devices, Inc. (US), Infineon Technologies AG (Germany), NETGEAR Inc. (US), Ubiquiti Inc. (US), Siklu Communication Ltd. (Israel), Samsung Electronics Co., Ltd. (South Korea), Socionext Inc. (Japan), HiSilicon (Shanghai) Technologies Co., Ltd. (China), AsusTek Computer Inc. (Taiwan), MikroTik (Latvia), Millitronic (Taiwan), Airvine (US), LightPointe Communications, Inc. (US), Pasternack Enterprises Inc. (US), Aruba (US), Cambridge Communication Systems (UK), and Wireless Excellence Ltd. (UK).
The global wireless gigabit market is segmented on the basis of product, technology, protocol, end use, and geography. The market based on product is segmented into display devices, and network infrastructure devices. Based on technology, the market is segmented into System on Chip (SoC) and Integrated Circuit chip (IC Chip). Based on protocol, the market is segmented into 802.11ad, and 802.11ay. Based on end use, the market is segmented into consumer electronics, networking, and commercial. The wireless gigabit market is segmented into four regions?North America, Europe, Asia Pacific (APAC), and the Rest of the World (RoW).
Reasons To Buy the report:
- Illustrative segmentation, analysis, and forecast for markets based on product, technology, protocol, end-use, and region have been conducted to give an overall view of the wireless gigabit market.
- The value chain analysis has been performed to provide an in-depth insight into the wireless gigabit market.
- Major drivers, restraints, opportunities, and challenges pertaining to the wireless gigabit market have been detailed in this report.
- Detailed information regarding the COVID-19 impact on the wireless gigabit market has been provided in the report.
- The report includes a detailed competitive landscape along with key players, in-depth analysis, and revenue of key players.