Global wireless gigabit market was valued at US$ 1.02 Bn in 2019 and is expected to reach US$ 15.06 Bn by 2027, at a CAGR of 40.01% during a forecast period.
People have more preference for wireless devices owing to its speed and convenience. The wireless gigabit technology has the capability to transfer data/information among devices or over the web with better speed.
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Faster communication and quick data transmission more than Wi-Fi technology drive the growth of wireless gigabit market. Moreover, wireless gigabit has potential to offer rapid synchronization and fast data sharing which is required for consumer electronics devices such as HD televisions, digital devices, tablets, and advanced smartphones. This is expected to increase the market growth of wireless gigabit market over the forecast period.
Furthermore, rising popularity of cloud storage solution owing to its cost-effective nature is expected to create more opportunities for wireless gigabit market. However, growing manufacturing cost with development of complexly embedded gigabit chipsets, shorter operating range of current gigabit products, rising cost of IPAM is hampering the market growth.
Increasing demand for large screen displays with higher resolutions. The smartphones have shown quick growth across geographies driving the wireless gigabit market. Smartphone by norm is specified to support wireless connectivity. This has driven the demand for the integration of wireless chipsets complementing the cellular connectivity. This augmented demand for connectivity and the need for higher data speeds have been pushing the industry to adopt more advanced technologies.
The consumer electronics segment is projected to lead the industry with a major share of over the forecast period owing to the rising consumer adoption of 802.11ac access points. Gigabit offers consumers ultra-fast connectivity that is required to transfer gigabytes of HD content between tablets, computers, smartphones, and set-top boxes.
Asia Pacific is expected to the largest market share during the forecast period. The rising production of Ethernet switches and routers in strong economies, such as India, China, and Japan, is contributing to the regional growth. Growing IT spending and changing budget allocations in developing countries are attracting demand for technologically advanced products to upgrade the existing enterprise infrastructure.
Scope of the Global Wireless Gigabit Market
Global Wireless Gigabit Market by Product
• Display Devices
• Network Infrastructure Devices
Global Wireless Gigabit Market by Technology
• System-on-Chip (SoC)
• Integrated Circuit Chips (IC)
Global Wireless Gigabit Market by Application
• Consumer Electronics
Global Wireless Gigabit Market by Geography
• North America
• Middle East & Africa
• South America
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