Global Wi-Fi Chipset Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

Global Wi-Fi Chipset Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

The Global Wi-Fi Chipset Market is expected to grow at a CAGR of 4.4% during the forecasted period of 2022 to 2027. Due to the growing popularity of smartphones worldwide, Wi-Fi technology has increased usage. Furthermore, governments worldwide are building smart cities with public Wi-Fi networks to help service industries, such as education and healthcare. These factors increase Wi-Fi usage in homes, offices, and public spaces, increasing Wi-Fi chipset sales. Customers prefer Voice-Over Mobile Broadband (VOMBB) over traditional telecom carriers because of its great audio quality, lower cost, and ability to save power, fueling demand for Wi-Fi services worldwide.

• According to the Organisation for Economic Co-operation and Development survey, By 2025, the number of households having a computer is expected to increase to 1,262.47 million. Homes with at least one computer are referred to as computer households. Such a huge increase in computer adoption will create aopportunity for the market players to expand their Wi-Fi chipset product portfolio, expand their presence in different regions, and increase their market share.
• Consumers focus on the value of information as the number of connected devices grows exponentially. Many people have multiple sources of information and are increasingly reliant on mobile devices and the Internet. Through Facebook pages, e-mails, and location-based marketing, retailers see the benefit of supporting customers in gathering information and building customer relationship management systems. Furthermore, merchants are increasingly using in-store Wi-Fi to engage with customers and enable them to make purchasing decisions. Consumers shopping habits have shifted as a result of mobile devices. Mobile users read options and reviews, check a retailer's product availability, access interactive store maps, view discounts and loyalty offers, and make online purchases using mobile devices.
• According to a report from Snapchat, by 2025, around 75% of the global population and almost all smartphone users will be frequent AR technology users, out of which more than 1.5 billion are anticipated to be millennials. According to GSMA's Mobile Economy China 2021, China will be adding around 340 million smartphone connections by 2025, with adoption rising to 9 in 10 connections with 1.5 billion in Mainland China, 12.3 million in Hong Kong, 1.9 million in Macao, and 25.7 million in Taiwan.
• The increasing activities of cyber criminals successfully penetrating and moving laterally within the security perimeter are expected to increase privacy concerns. Organizations relying solely on on-premises firewalls and VPNs lack the visibility solution integration and agility to deliver timely end-to-end security coverage. As evidence, large-scale, multi-vector mega attacks are growing, wreaking havoc on organizations and individuals worldwide.
• However, according to the Semiconductor Industry Association, after Q1 of 2020, the semiconductor industry started the recovery in line with the global demand for electronics such as laptops and desktops for the growing trend of Work from Home. Despite logistical challenges related to the coronavirus, semiconductor facilities in Asia-Pacific usually function with high-capacity rates. Moreover, most semiconductor operations in various countries, such as South Korea, continued uninterrupted, and chip exports grew by 9.4% in February 2020.

• The companies are expanding their internet portfolio, which will significantly drive the market. In April 2022, Tata Communications, a digital transformation and telecommunications services company, announced that it is expanding internet services to the enterprise sector globally, including in India, and that these services, combined with a software-defined Wide Area Network (SD-WAN), will enable businesses to make faster business-centric decisions.
• In Jan 2022, The WiFi Alliance released WiFi 6 Release 2, an update to WiFi 6 that affects all WiFi 6-enabled bands. The new standard improves device and application performance and power management. "Enterprise, industrial, and Internet of Things (IoT) applications" will benefit from the increased power capability.
• Players in the region are highly concentrated on providing optimum services for IoT customers. For instance, AT&T and Cisco recently extended their collaboration to manage Internet of Things (IoT) devices for enterprises. Both the companies are managing millions of connected devices across manufacturing, transportation, utilities, public sector, retail, and healthcare industries along with public safety on FirstNet, built with AT&T.Because of the spread of its family standards, and WiFi has the advantage of being able to address a wide range of profiles. This means it will be used in most IoT scenarios, either alone or conjunction with more specific protocols like cellular.
• Furthermore, the IoT market in Latin America is expected to reach 1.2 billion connections by 2025, driven by growth in the enterprise segment, primarily for smart manufacturing and smart building solutions. Operators will be deploying IoT solutions in the auto, telematics, and bioenergy industries, and cities such as Buenos Aires, Santiago, Medellin, and Sao Paulo are implementing smart city initiatives.
• Massive Machine-type Communications (MMTC) are more likely to play a crucial role in healthcare. With its help, hospitals could create massive sensor networks that can monitor patients, their habits, behaviors, and activities using corresponding sensors in wearables, smartphones, and multiple connected devices.

• According to International Telecommunication Union, In 2022, over 89% of people in United States will have access to the internet, up from nearly 75% in 2012. In 2018, United States had more than 312 million internet users, making it one of the largest online markets in the world.
• The increase in the adoption of 5g will drive the Wi-Fi chipset market in the region. For example, 5G will account for more than half of total mobile connections in North America, according to the latest Mobile Economy North America 2020' report from GSMA Intelligence. Of the region's forecasted 426 million mobile connections, 51% will run on 5G networks by 2025. The report also suggests that the region will pass 340 million mobile subscribers by 2025.
• In August 2021, SecurePass, a turn-key secure multi-device management solution for seamless guest access at a range of facility types, was launched by GoZone Wi-Fi, based in United States. Outdoor recreational places, such as campgrounds, RV parks, marinas, state or national parks, MDUs, smart buildings, conference facilities, and campus communities, are immediate prime verticals and use cases for this solution. Developments like this will create an opportunity for the market players to grow.
• According to StatCan, Canada's ICT sector contributed CAD 102.3 billion to the country's gross domestic product in the first quarter of 2021. According to Government of Canada data, the Information and Communication Technology sector increased by 5.0% in 2020. ICT's Business Research and Development (R&D) spending was 42.1% of the total economy's R&D which grew by 6.8% in 2020.
• Due to the high increase of the Wi-Fi chipsets in the region, the companies plan to develop new products to meet the market's demand. For Instance, in March 2022, Broadcom, an industry provider of Wi-Fi chips for client devices and network infrastructure, revealed that it had shipped one billion Wi-Fi 6/6E chips. This also implies that Broadcom has supplied 500 million Wi-Fi 6/6E chips in just one year. The corporation is also implying that Wi-Fi 7 will be available in the near future.

The Global Wi-Fi chipset market is moderately concentrated. Players tend to invest in innovating their product offerings to cater to the insurance industry's changing demands. Moreover, players adopt strategic activities like partnerships, mergers, and acquisitions to expand their presence. Some of the recent developments in the market are:

• April 2022 - Broadcom Inc. announced the availability of samples of its entire end-to-end Wi-Fi 7 chipset solutions, which include Wi-Fi routers, residential gateways, enterprise access points, and client devices. These Wi-Fi 7 chips give more than twice the speed of current Wi-Fi 6 and 6E solutions, as well as reliable low-latency connections and increased range. BCM67263, BCM6726, BCM43740, BCM43720, and BCM4398 are among Broadcom's Wi-Fi 7 ecosystem products.
• Feb 2022 - Wi-Fi 7 is already supported by Qualcomm's newest chip. Wi-Fi 7's technical advantages include a new feature called High Band Simultaneous (HBS) Multi-Link, which can leverage two separate radios for four streams of connection in those high-spectrum ranges for top theorize (though we can't forget Wi-Fi 6 Release 2, which builds on Wi-Fi 6 and 6E), as well as doubling the potential maximum channel potential to 320Mhz in the 6Ghz range, which was introduced with the Wi-Fi 6E

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support