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.
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.
Access
Full Research Report by Grand View Research: http://www.grandviewresearch.com/industry-analysis/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.
Browse more reports of this category
by Grand View Research:
http://www.grandviewresearch.com/industry/network-security-software-and-services
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
- U.S.
- Canada
- Europe
- Germany
- UK
- Asia
Pacific
- China
- India
- Japan
- Latin
America
- Brazil
- Mexico
- MEA
Access press release by Grand View
Research: http://www.grandviewresearch.com/press-release/global-wireless-gigabit-wigig-market
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, we offer market intelligence studies
ensuring relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
For more information: http://www.grandviewresearch.com
