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.
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.
View summary of this report @
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
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
For press release of this report - http://www.grandviewresearch.com/press-release/global-wireless-gigabit-wigig-market
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