Global Wireless Gigabit Market Size, Share & Trends Analysis Report By Product (Network Infrastructure Devices, and Display Devices), By End-use (Networking, Consumer Electronics, and Other End-use), By Technology, By Regional Outlook and Forecast, 2024 -

Global Wireless Gigabit Market Size, Share & Trends Analysis Report By Product (Network Infrastructure Devices, and Display Devices), By End-use (Networking, Consumer Electronics, and Other End-use), By Technology, By Regional Outlook and Forecast, 2024 - 2031

The Global Wireless Gigabit Market size is expected to reach $174.2 million by 2031, rising at a market growth of 25.8% CAGR during the forecast period.

Europe's emphasis on digital transformation in a variety of industries and its robust regulatory support for technological advancements further fuelled the growth of WiGig technology. In Europe, sectors like healthcare, manufacturing, and telecommunications increasingly adopt high-speed wireless solutions to improve efficiency and connectivity, further driving demand for WiGig-enabled devices. Consequently, the European region would acquire nearly 25% of the market share by 2031.

The major strategies followed by the market participants are Product launches as the key developmental strategy to keep pace with the changing demands of end users. For instance, In July, 2024, Qualcomm released the Snapdragon 4s Gen 2, designed to bring affordable 5G access to entry-level smartphones. Key features include Gigabit 5G connectivity, all-day battery life, and enhanced camera capabilities. Moreover, in August, 2023, Marvell Technology unveiled its 5nm multi-gigabit copper Ethernet PHY platform, designed to meet the high performance and energy efficiency demands of next-generation networks like Wi-Fi 7. The new technology, including the Alaska M 3610 PHY, delivers 10 Gbps speeds at half the power of previous devices, supporting advanced applications and improved enterprise network capabilities.

Market Growth Factors

The adoption of WiGig technology is significantly driven by the growing demand for high-speed internet, particularly in light of the exponential growth of the number of devices that require internet access. Furthermore, the growing number of connected devices in homes and offices is straining traditional Wi-Fi networks. Consequently, the market's expansion will be fueled by the growing demand for high-speed internet throughout the forecast period.

Devices such as smartphones, tablets, laptops, and gaming consoles increasingly incorporate WiGig to meet consumers' needs, requiring high-speed data transfer, low latency, and seamless wireless connectivity. Moreover, the consumer electronics industry, characterized by its rapid innovation cycles and constant evolution, is a key enabler of WiGig technology’s expansion. Thus, the growth of WiGig in consumer electronics is propelled by the need for high-speed data transmission and the industry's rapid pace of innovation.

Market Restraining Factors

Deploying WiGig technology requires more advanced and sophisticated hardware than traditional wireless solutions like Wi-Fi. This higher cost can deter businesses, especially in sectors with tight profit margins, such as retail or consumer electronics. Hence, the high implementation costs have slowed down the broader adoption of WiGig technology.

Product Outlook

Based on product, the market is bifurcated into display devices and network infrastructure devices. The display devices segment procured 29% revenue share in the market in 2023. Display devices such as wireless docks, adapters, and VR/AR headsets leverage WiGig’s ability to transmit high-quality audio and video content with minimal latency.

End-use Outlook

By end-use, the market is divided into networking, consumer electronics, and others. The consumer electronics segment garnered 33% revenue share in the market in 2023. With consumers demanding faster data transfer speeds for activities such as 4K video streaming, wireless gaming, and large file transfers, WiGig’s high-speed connectivity meets these needs by providing seamless, lag-free experiences.

Technology Outlook

On the basis of technology, the market is classified into system-on-chip (SoC) and integrated circuit chip (IC chip). The integrated circuit chip (IC chip) segment recorded 37% revenue share in the wireless gigabit market in 2023. IC chips are fundamental in enabling devices to communicate on the 60 GHz frequency band used by WiGig technology.

Regional Outlook

Region-wise, the wireless gigabit market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America segment procured 36% revenue share in the wireless gigabit market in 2023. The region's dominance is based on its sophisticated technological infrastructure, the high demand for high-speed connectivity among consumers, and the strong adoption of emerging technologies such as IoT, VR, and AR.

Recent Strategies Deployed in the Market

• Feb-2024: STMicroelectronics N.V. teamed up with Fibocom, a wireless communications company, to launch a smart home solution integrating ST's STM32WB55 MCU and Fibocom’s FG370 5G module. This Matter-compatible solution enhances smart home device connectivity across protocols, using 5G for seamless control and improved interoperability, aiming to streamline smart home automation.
• May-2023: STMicroelectronics introduced its second-generation STM32 MPUs, featuring 64-bit Arm Cortex-A35 cores, Edge AI acceleration, advanced security, and connectivity for industrial and IoT applications. The STM32MP25 offers real-time processing, AI capabilities, 3D graphics, and secure networking.
• Feb-2023: Samsung Electronics Co., Ltd. partnered with Qualcomm Incorporated, a semiconductor manufacturing company, to launch the Galaxy S23 series, powered by the Snapdragon 8 Gen 2 Mobile Platform. This partnership brings accelerated performance, enhanced AI, advanced gaming features, and superior connectivity, showcasing both companies' commitment to premium smartphone experiences.
• Feb-2021: Qualcomm Incorporated unveiled Snapdragon X65 5G Modem-RF System, a 10 Gigabit 5G and 3GPP release 16 modem. The modem delivers faster speeds, broader coverage, and improved power efficiency. It supports future 5G features, AI antenna tuning, and advanced spectrum aggregation, targeting premium smartphones, industrial IoT, and fixed wireless access.
• Feb-2021: Qualcomm Incorporated teamed up with Bharti Airtel, an Indian telecommunications company, accelerate 5G in India. Using Qualcomm's 5G RAN platforms, Airtel would roll out virtualized and Open RAN-based 5G networks, enabling Fixed Wireless Access (FWA) for high-speed broadband and supporting Industry 4.0 innovations and last-mile connectivity solutions.

List of Key Companies Profiled

• Broadcom, Inc.
• Cisco Systems, Inc.
• Intel Corporation
• Panasonic Holdings Corporation
• Qualcomm Incorporated (Qualcomm Technologies, Inc.)
• Samsung Electronics Co., Ltd. (Samsung Group)
• STMicroelectronics N.V.
• Marvell Technology Group Ltd.
• PERASO INC.
• Tensorcom, Inc. (NantWorks, LLC)

Global Wireless Gigabit Market Report Segmentation

By Product

• Network Infrastructure Devices
• Display Devices

By End-use

• Networking
• Consumer Electronics
• Other End-use

By Technology

• System-on-Chip (SoC)
• Integrated Circuit Chip (IC Chip)

By Geography

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
• Germany
• UK
• France
• Russia
• Spain
• Italy
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• South Korea
• Singapore
• Malaysia
• Rest of Asia Pacific
• LAMEA
• Brazil
• Argentina
• UAE
• Saudi Arabia
• South Africa
• Nigeria
• Rest of LAMEA