What are the Historical Developments and Current Growth Metrics of the WiGig Market?
The wigig market has seen considerable growth due to a variety of factors.
•In recent times, there has been tremendous growth in the wigig market size. It is anticipated to expand from $5.05 billion in 2024 to a whopping $6.37 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 26.3%.
Factors like rising demand for speedy wireless communication, the surge in data traffic, increased usage of smartphones and smart devices, growing internet use and the advent of multimedia applications account for the growth in the historical period.
What Does Future Hold for The WiGig Market Size?
The wigig market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of wigig is projected to witness a significant surge in the forthcoming years, reaching $17.73 billion by 2029 with a compound annual growth rate (CAGR) of 29.1%.
This robust increase during the forecast period is primarily due to the deployment of 5g networks, higher adoption rates of Internet of Things (IoT) gadgets, the need for outstanding wireless connectivity in car applications, enlargement of smart city projects, and a growing requirement for low-latency communication. Key trends throughout this period involve the advancement of sophisticated modulation methods, an intensified focus on millimeter-wave communication, the incorporation of WiGig into corporate networking solutions, an escalating demand for WiGig in entertainment and gaming, and the introduction of new device types and forms that support WiGig.
What Are The Key Drivers Fueling Growth In The WiGig Market?
The WiGig market is poised for growth due to the increasing need for high-speed internet. High-speed internet is a service that offers quicker download and upload speeds than standard connections. The introduction of 5G technology, the latest in wireless innovation, offers high-speed internet with faster data transfer capabilities than predecessors like 4G or LTE. WiGig fits into these advancements, offering robust internet connectivity with potential transmission rates twice as fast as current wireless internet, reaching 8 Gbps. This makes it possible for high-functioning wireless data, display and audio applications to wirelessly communicate at incredible speeds. In July 2023, the UK Parliament's House of Commons Library revealed that as of January 2023, 72% of UK premises had gigabit-capable broadband—an increase from 64% in January 2022 and a notable leap from 36% in January 2021. This underlines the escalating demand for high-speed internet which is fuelling the expansion of the WiGig market.
What Are The Principal Market Segments In The Global WiGig Industry?
The WiGig market covered in this report is segmented –
1) By Product: Display Devices, Network Infrastructure Devices
2) By Technology Type: System-On-Chip (SoC), Integrated Circuit Chip (IC)
3) By Enterprise Size: Large Enterprises, Small And Medium-sized Enterprises
4) By End Use Industry: BFSI (Banking, Financial Services, And Insurance), Healthcare, IT And Telecom, Retail, Media And Entertainment, Other End Use Industries
Subsegments:
1) By Display Devices: Wireless Monitors, Wireless Projectors, Virtual Reality Headsets
2) By Network Infrastructure Devices: Routers, Access Points, Adapters, Gateways
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Which Emerging Market Trends Are Altering The WiGig Sector?
Major corporations that are active in the WiGig market are concentrating their efforts on the creation of novel products that provide wireless connectivity at speeds of multiple gigabits per second to improve data transfer rates. This implies that wireless networks can transmit data at a rate surpassing one gigabit per second, facilitating swift data transfers for high-definition video streaming, online gaming, and the transfer of large files. For instance, Pharrowtech, an established semiconductor manufacturer based in Belgium, unveiled the PTR1060 and PTM1060 (RFM) phased array antenna module in February 2022. The PTR1060 is the globe's first CMOS RF chip compliant with IEEE 802.11ay, while the PTM1060 is a phased array antenna module that offers multi-gigabit wireless connectivity spanning the complete 57 to 71 GHz bandwidth. These items simplify design procedures and lower costs, making them perfect for use in Fixed Wireless Access, intelligent cities, and consumer electronic products.
Who Are the Key Players in the WiGig Market?
Major companies operating in the WiGig market include:
• Samsung Electronics Co. Ltd.
• Microsoft Corporation
• Dell Inc.
• Lenovo Group Ltd.
• Panasonic Corporation
• Intel Corporation
• Qualcomm Technologies Inc.
• Broadcom Inc.
• NXP Semiconductors N.V.
• Keysight Technologies Inc.
• Marvell Technology Inc.
• Teradyne Inc.
• Rohde & Schwarz GmbH & Co KG
• Anritsu Corporation
• Lattice Semiconductor Corporation
• InterDigital Inc.
• AzureWave Technologies Inc.
• DisplayLink Corp.
• Siklu Communication Ltd.
• Peraso Technologies Inc.
• Blu Wireless Technology Limited
• Sivers Semiconductors AB
• Tensorcom Inc.
• Laird PLC
• Movandi Corporation
What are the Regional Insights into the WiGig Market?
North America was the largest region in the WiGig market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the WiGig market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
