Gigabit WiFi Market Segmentation by Technology (System on Chipx, and Integrated Circuit Chip); by Product Type (Display Devices, Network Infrastructure Devices, Networking Devices, and Consumer Electronics); by Application (Broadband Wireless, Corporate Networks, Smart Cities, Security, and Others); and by Protocol (802.11 AC, 802.11 AD, and 802.11 AY) – Global Demand Analysis & Opportunity Outlook 2029
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In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022. Purchasing power in the country is expected to fell nearly by 2.5%.
On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.
The gigabit WiFi market is estimated to garner a substantial revenue by growing at a noteworthy CAGR over the forecast period, i.e., 2021 – 2029. The growth of the market can be attributed to factors such as the rising need for faster data transfer and enhanced internet connectivity, and the increasing number of portable smart device users in the world. It is predicted that the total number of smart phone users will increase by almost 1 billion from 2019 to 2023. Apart from improved speed, wireless gigabit is also capable of offering high-level of accuracy and security, which in turn is expected to boost its demand in the near future. Wide adoption of WiFi hotspot devices across facilities such as enterprises, educational institutes, and hospitals, is also anticipated to drive market growth. In addition to these, growing dependency of companies of online gaming, media/entertainment, research and financial aid domains to offer increased Ethernet bandwidth to customers, is also projected to offer lucrative opportunities for market growth over the forecast period.
The market is segmented by product type into display devices, network infrastructure devices, networking devices, and consumer electronics, out of which, the segment for network infrastructure devices is anticipated to exhibit significant growth in the global gigabit WiFi market in view of the rise in demand for using 60 GHz frequency band and the escalating need for devices with high data throughput. Furthermore, based on protocol, the 802.11 AC segment is assessed to grow at the highest rate over the forecast period on the back of its ability to provide convenient wireless LAN solutions to users in workspaces. As 802.11 AC internet protocol offers better speed and improved bandwidth coverage with lesser number of dead spots, the growth of this market segment is predicted to witness a hike in the near future.
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Regionally, the gigabit WiFi market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa. The market in Europe is estimated to witness a notable growth over the forecast period which can be attributed to the availability of cost-effective wireless gigabit products and growing demand for developing next generation smart devices. Increasing research and development activities in the field of wireless technologies is another crucial factor promoting the growth of the market in this region. In 2018, the total spending on research & development by the European Union was calculated to be approximately USD 360 billion. Moreover, North America is evaluated to acquire the largest market share during the forecast period on the back of early technological advancements, wide adoption of WiFi hotspots with higher frequency spectrums and strong presence of leading market players in the region.
The gigabit WiFi market is further classified on the basis of region as follows:
Our in-depth analysis of the gigabit WiFi market includes the following segments:
Ans: The major factors driving market growth are increasing demand for faster data transfer and growing user base of portable smart devices.
Ans: The market is anticipated to attain a noteworthy CAGR over the forecast period, i.e., 2021-2029.
Ans: High manufacturing cost of gigabit chipsets is estimated to hamper the market growth.
Ans: High manufacturing cost of gigabit chipsets is estimated to hamper the market growth.
Ans: The major players in the market are Qualcomm Technologies, Inc., Sivers Semiconductors AB, Broadcom Inc., NXP Semiconductors N.V., and others.
Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by technology, product type, application, protocol, and by region.
Ans: The network infrastructure devices segment is anticipated to hold largest market size and is estimated to grow at a significant CAGR over the forecast period and display significant growth opportunities.
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