WiGig Market to Reach US$ 7.6 Billion by 2028 | CAGR of 17.6%

According to the latest report by IMARC Group, titled "WiGig Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the global WiGig market size reached US$ 2.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 7.6 Billion by 2028, exhibiting a growth rate (CAGR) of 17.6% during 2023-2028.

WiGig is a 60 GHz wireless gigabit Wi-Fi network protocol, which is extensively deployed in the commercial and residential sectors for enabling high-performance wireless data display and audio. It is further utilized in handheld equipment and consumer electronics for high-speed transmission. WiGig offers various benefits, such as faster communication, instant transmission of data, accuracy, security, and reduced interference. In comparison to Wi-Fi, the WiGig signal reduces more current at a given distance. At present, WiGig is commercially available in varying types like system-on-chip (SoC) and integrated circuit chip (IC).

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Industry Growth:

The widespread adoption of WiGig in multimedia streaming, personal computer (PC) docking, transmitting data at multi-gigabit (GB) is one of the key factors, primarily driving the global WiGig market toward growth. Moreover, the integration of the Internet of Things (IoT) and cloud solutions in various industrial verticals is propelling market growth. In line with this, the escalating utilization of WiGig devices in enterprises for enabling working professionals to execute various allocated tasks, such as delivering large files, running bandwidth applications and projecting graphics, is positively influencing the market. The continual launch of innovative and technologically advanced devices is acting as another major growth-inducing factor. For instance, in September 2019, Marvell Technology Group Ltd., a US-based company, announced the launch of ultra-low latency, high-port-count automotive switches coupled with multi-gigabit routing throughout the infrastructure and assets for enhancing operational efficiency. Other than this, the adoption of the bring-your-own-device (BYOD) policy at workplaces is creating a positive outlook for the market.

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Competitive Landscape with Key Players:

The competitive landscape of the industry has also been examined along with the profiles of the key players being:

• Blu Wireless
• Broadcom Inc.
• Cisco Systems Inc
• Intel Corporation
• Marvell Technology Inc.
• NXP Semiconductors N.V.
• Panasonic Corporation
• Peraso Technologies Inc.
• Qualcomm Technologies Inc.
• Samsung Electronics Co. Ltd.
• Sivers Semiconductors AB
• Tensorcom Inc.

Breakup by Product:

• Networking Devices
• Consumer Electronics

Breakup by Protocol:

• 802.11ad
• 802.11ay

Breakup by Technology Type:

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

Breakup by Enterprise Size:

• Small and Medium-sized Enterprises
• Large Enterprises

Breakup by End-Use Industry:

• BFSI
• Healthcare
• IT and Telecom
• Retail
• Media and Entertainment
• Others

Breakup by Region:

• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• The Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key Highlights of the Report:

• Market Performance
• Market Outlook
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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