Press release
Unlocking Opportunities in the WiGig Market: 2025-2034 Forecast Report
WiGig Market
What Will the WiGig Industry Market Size Be by 2025?
The size of the wigig market has seen exponential expansion in the past few years. It is projected to surge from a value of $5.05 billion in 2024 to $6.37 billion in 2025, witnessing a compound annual growth rate (CAGR) of 26.3%. This surge in the previous era can be credited to a surge in the requirement for high-speed wireless communication, a rise in data traffic, an increase in the usage of smartphones and smart devices, broader internet usage, and the advancement in multimedia applications.
What's the Long-Term Growth Forecast for the WiGig Market Size Through 2029?
Expectations are high for a significant surge in the size of the wigig market in the coming years. It is anticipated to reach $17.73 billion by 2029, demonstrating a compound annual growth rate (CAGR) of 29.1%. Multiple factors are contributing to the estimated growth in the forecast period, including the deployment of the 5g network, the rising use of Internet of Things (IoT) devices, the increasing need for superior wireless connectivity in the automotive industry, the expansion of smart city projects, and a growing demand for low-latency communication. Some of the notable trends that will be influencing the market during this period encompass the advancement of modulation techniques, greater concentration on millimeter-wave communication, inclusion of WiGig in enterprise-level networking solutions, increased need for WiGig in the gaming and entertainment sectors, and the introduction of new devices and forms that support WiGig.
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What Are the Key Growth Drivers Fueling the WiGig Market Expansion?
The increasing need for faster internet is predicted to fuel the expansion of the WiGig market. High-speed internet refers to web connections that offer quicker download and upload speeds in comparison to ordinary internet services. 5G, the fifth rendition of wireless technology, stands out with its speedy internet abilities and data transportation rate, surpassing earlier technologies like 4G or LTE. WiGig is crafted to deliver rapid internet connections, potentially doubling the existing wireless internet speeds to reach 8 Gbps. This technology enhances wireless data, display, and audio performances, allowing for devices to engage wirelessly at multi-gigabit speeds. For example, in July 2023, the UK Parliament's House of Commons Library, an administration based in the UK, reported that 72% of the premises in the UK could access gigabit-capable broadband as of January 2023, which was a significant rise from 64% in January 2022 and a whopping 36% in January 2021. Hence, the escalating requirement for high-speed internet is a key element propelling the growth of the WiGig market.
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What Are the Key Trends Driving WiGig Market Growth?
Leading businesses in the WiGig market are concentrating on the development of ground-breaking products which provide wireless connectivity at multi-gigabit per second, augmenting data transmission rates. Multi-gigabit per second wireless connectivity infers to wireless networks' ability to dispatch data surpassing a speed of one gigabit per second, thus enabling rapid data transfer utilised in high-definition video streaming, online gaming, and large file transfers. For example, Pharrowtech, a semiconductor manufacturing firm situated in Belgium, unveiled PTR1060 and PTM1060 (RFM) phased array antenna modules in February 2022. The PTR1060 is the pioneer IEEE 802.11ay-compliant CMOS RF chips globally, and the PTM1060 is a phased array antenna module that fosters high-speed, multi-gigabit wireless connectivity throughout a complete 57 to 71 GHz bandwidth. These product offerings simplify design procedures and lower expenses, thus making them optimal for use in Fixed Wireless Access, smart cities, and consumer electronics.
How Is the WiGig Market Segmented?
The WiGig market covered in this report is segmented -
1) By Product: Display Devices, Network Infrastructure Devices
2) By Technology Type: System-On-Chip (SoC), Integrated Circuit Chip (IC)
3) By Enterprise Size: Large Enterprises, Small And Medium-sized Enterprises
4) By End Use Industry: BFSI (Banking, Financial Services, And Insurance), Healthcare, IT And Telecom, Retail, Media And Entertainment, Other End Use Industries
Subsegments:
1) By Display Devices: Wireless Monitors, Wireless Projectors, Virtual Reality Headsets
2) By Network Infrastructure Devices: Routers, Access Points, Adapters, Gateways
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Which Companies Are Leading the Charge in WiGig Market Innovation?
Major companies operating in the WiGig market include Samsung Electronics Co. Ltd., Microsoft Corporation, Dell Inc., Lenovo Group Ltd., Panasonic Corporation, Intel Corporation, Qualcomm Technologies Inc., Broadcom Inc., NXP Semiconductors N.V., Keysight Technologies Inc., Marvell Technology Inc., Teradyne Inc., Rohde & Schwarz GmbH & Co KG, Anritsu Corporation, Lattice Semiconductor Corporation, InterDigital Inc., AzureWave Technologies Inc., DisplayLink Corp., Siklu Communication Ltd., Peraso Technologies Inc., Blu Wireless Technology Limited, Sivers Semiconductors AB, Tensorcom Inc., Laird PLC, Movandi Corporation
Which Regions Are Leading the Global WiGig Market in Revenue?
North America was the largest region in the WiGig market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the WiGig market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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