Wi-Fi Chipset Market - High Demand for Smartphones Integrated with Wi-Fi System Demands Growth
The demand for Wi-Fi chipset is increasing due to rising adoption of advanced technologies that help in transferring data instantly and consume low power. Moreover, the rising demand for virtual reality, WiGig in multimedia streaming, and enterprise applications, which require wireless docking and high speed is creating high demand for Wi-Fi chipsets.
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One of the major factors responsible for the growth of the Wi-Fi chipset market is rising number of smart cities in developing economies. Mostly, countries in Asia Pacific are working on building smart cities on a large scale. Technological advancements in Wi-Fi technology and increasing usage of Wi-Fi in homes, offices, and in public places have grown the demand for Wi-Fi technology immensely.
In addition, growing number of people under the middle-income group in developing economies is driving the need for smart cities. For instance, smart-city plans in India and China where there are hundreds of projects costing in billions are expected to accelerate the demand for Wi-Fi technology. Various global conglomerate such as RailTel, Larsen & Toubro (L&T), Google, and IBM and are working on Wi-Fi network management for the smart city projects.
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The global Wi-Fi chipset market is expected to witness high growth in Asia Pacific. Asia Pacific is expected to hold the highest share in terms of revenue in the global Wi-Fi chipset market during the forecast period.
The rising demand for smartphones and tablets with integrated Wi-Fi technology in China and India is one of the key factors favoring growth in this market. Availability of public Wi-Fi hotspot connectivity in these countries is also growing demand for Wi-Fi chipsets. Moreover, increasing use of Wi-Fi technology in retail, healthcare, and manufacturing in Asia Pacific has contributed to the market dominance of this region.
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