The global WiGig market is growing at a significant CAGR of around 25.8% during the forecast period (2020-2026). WiGig refers to a network protocol, where the devices can communicate wirelessly at multi-gigabit speed. The WiGig market is driven by the continuous rising demand for fast data transfer from IT & telecom sector. In addition, the rising demand for portable consumer electronics and launch of new frequency bands are further contributing in the market growth across the globe. The total number of smartphone users in North America `is estimated to be 229 million in 2016, which is further estimated to reach 272 million by the year 2020 as per Centre for Digital Information (CDI). Such rise in consumer electronics demand with the deployment of advanced technologies will accelerate the market growth during the forecast period. 

Rising trend of BYOD and enterprise mobility is one of the major factors that is estimated to develop growth opportunities for the growth of the WiGig market. BYOD is making noteworthy progress in the corporate world, it is estimated that more than 75% of the employees in the emerging economies such as India, China, Brazil, and Russia are using their devices at their workplace, and 44% of the employees in developed countries such as the US and Germany are using their devices at workplace. These are the major factors indicating the increasing trend of BYOD and mobility in the enterprise, in turn, will offer growth to the WiGig market in the near future. However, the increasing manufacturing cost and complex embedded chipsets of WiGig will affect the market growth during the forecast period.

Segmental Outlook  

The WiGig market is classified on the basis of product and application. Based on product, the market is bifurcated into consumer electronics and network infrastructure devices. The consumer electronics segment is further segmented into smartphone, laptops & tablets, projectors, and others. The network infrastructure devices segment is further segregated into routers, backhaul stations, and others. Based on application, the market is segregated into BFSI, IT & telecom, government, healthcare, and others. 

Global WiGig Market Share by Application, 2019 (%)

Global WiGig market is driven by its significant application in consumer electronics

WiGig finds considerable application in consumer electronics and is expected to continue dominating the market during the forecast period. The increasing use consumer electronics, such as smartphone and laptops & tablets, and internet penetration is offering growth to the market. As per International Telecommunication, the percentage of individuals using the internet has increased to 51% in 2018 as compared to 29% in 2010 all across the globe. In the emerging economies, the percentage increased from 20% in 2010 to 45% in 2018. This increase in the consumer base is offering opportunity for the WiGig market players to further invest in the consumer electronics segment.

Regional Outlook 

The global WiGig market is classified on the basis of geography, which includes North America, Europe, Asia-Pacific, and Rest of the World. North America holds a significant share in the global WiGig market. The US plays the critical role in geographic contribution of North America in global WiGig market. This is backed by the rising volume of mobile data traffic, mobile and telecommunication, and increasing demand for high-speed data connectivity. The investments made by the government in 5G infrastructure drives the WiGig market in the US. In October 2019, JMA, a US innovator of 4G and 5G software-based technology announced its plans of transforming a section of downtown Syracuse, NY, into an advanced 5G manufacturing and edge development center. In addition, the presence of major market players in the US, such as Intel Corp. and Qualcomm Technologies, Inc., is further contributing in the market growth in the region.

Global WiGig Market Growth, by Region 2020-2026

Asia-Pacific is expected to propel with a considerable growth rate in the global market

Asia-Pacific is estimated to project a considerable CAGR in the global WiGig market. Countries in Asia-Pacific that are contributing to the market growth include China, India, and Japan. This growth is accredited to the significant focus on the development of telecommunication infrastructure in these economies. Furthermore, along with the high customer base in China, the country is exporting a larger number of smartphones across the globe. China has a significant market share in almost all major economies such as India, UK and so on. Due to this, several companies and research institutes are investing a significant portion of resources in the R&D program in mobile technology. Such huge investment from the global market players in these emerging economies is estimated to offer growth to the WiGig market during the forecast period.

Market Players Outlook

The key players in the WiGig market are contributing significantly by providing advanced technology-based products and through expanding their geographical presence across the globe. The key players operating in the global WiGig market include Broadcom, Inc., Intel Corp., Qualcomm Technologies, Inc., Marvell Semiconductor, Inc., Panasonic Corp., Dell Technologies, Inc., NEC Corp., and Peraso Technologies Inc. These market players adopt various strategies such as product launch, partnerships, collaborations, merger, and acquisitions to sustain a strong position in the market. For instance, in February 2020, Broadcom, Inc. launched the world’s first Wi-Fi 6E client device, the BCM4389. This mobile chip paves the way to wireless technology for AR/VR. Such developments will enhance the company’s position in the consumer electronics market in the near future.

The Report Covers

• Market value data analysis of 2019 and forecast to 2026.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global WiGig market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.