Wireless Gigabit Market

Wireless Gigabit Market Size:

The global wireless gigabit market size reached US$ 3.1 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 11.4 Billion by 2032, exhibiting a growth rate (CAGR) of 15.02% during 2024-2032. The market is primarily driven by the increasing demand for high-speed internet, widespread adoption in enterprise networks, proliferation of smart devices, investments in 5G technology, and supportive government initiatives.

Wireless Gigabit Market Analysis:

• Major Market Drivers: The rising demand for faster data transfer and better internet connectivity is driving the wireless gigabit market. The further use of cloud computing and internet streaming services further expands the growth impact. Moreover, advanced technology in wireless communication, such as 5G networks, is one of the major driving factors behind growth in the market as it supports higher data rates with lower latency.
• Major Market Trends: Consumer electronics, like handsets, tablets, and notebooks, are integrating with wireless gigabit (WiGig), which extends to multi-gigabit speeds and efficient data synchronization. Moreover, the progression in IoT applications that require faster and more reliable data transfer rates is influencing the development of more advanced WiGig solutions.
• Geographical Trends: North America is leading the wireless gigabit market owing to the highly advanced level of technology adoption and huge infrastructure development in the telecommunication sector. Besides, the Asia-Pacific region with countries like South Korea and Japan are showing large-scale usage of technology-based resources, while prolonged urbanization in China and India is another reason for the increasing rate of the Asia-Pacific region.
• Competitive Landscape: Some of the leading wireless gigabit companies include Broadcom Inc, Cisco Systems Inc., Intel Corporation, Marvell Technology Inc., MediaTek Inc., Millitronic, NXP Semiconductors N.V., Panasonic Corporation, Peraso Technologies Inc., Qualcomm Technologies Inc., Samsung Electronics Co. Ltd. and Sivers Semiconductors AB., among many others.
• Challenges and Opportunities: A major challenge is the high cost of technology development and deployment, which can limit market growth, particularly in cost-sensitive regions. On the other hand, opportunities lie in expanding the application of wireless gigabit technologies in sectors such as virtual reality, automotive, and healthcare, where high-speed data transfer is essential.

Wireless Gigabit Market Trends:

Rising Adoption in Enterprise Networks:

The surge in remote work and cloud computing has compelled enterprises to seek more robust network solutions. According to the latest figures available from the International Data Corporation (IDC) Worldwide Digital Transformation Spending Guide, global spending on digital transformation is expected to surge up to $4 Trillion by 2027. This growth is primarily led by innovations in AI and Generative AI, forcing the DX sector to experience growth at a CAGR of 16.2% between 2022 and 2027. The investments in DX would likely witness a significant surge as digitalization becomes a strategic imperative and is expected to surpass nearly two-thirds of total ICT spending by 2027. Besides, wireless gigabit (WiGig) technology, is critical in this upgrade due to its quick and secure data handling capacity, which is important for organizations that are aiming to improve productivity and efficiency at work, thus contributing to market growth.

Supportive Government Initiatives

Government investments are essential in expanding 5G networks which are influencing wireless gigabit technologies. For instance, on 29 August 2024, the Federal Communications Commission announced the adoption of new regulations to spur targeted investments in the rollout of advanced 5G mobile wireless broadband services in rural areas. This bipartisan move will revive the 5G fund for rural America by using an updated map of broadband coverage by the FCC, which shows that millions of homes and businesses still lack access to mobile 5G connectivity. These steps enhance the coverage and the performance of the wireless networks, thereby giving higher speeds and greater reliability. This expansion is crucial for supporting the intense demands of modern digital applications from smart cities to mobile broadband services, fuelling widespread adoption and development of wireless gigabit capabilities, which is creating an optimistic outlook for the market.

Growing Investments in 5G

The strategic deployment of fifth-generation (5G) networks is a cornerstone for enhancing wireless gigabit service capabilities. Additionally, the increasing investments in 5G technology highlight a significant trend in the telecommunications sector, reflecting a concerted effort to enhance wireless connectivity across the globe. As per the recent data from the Organization for Economic Co-operation and Development (OECD), broadband technologies such as fiber and 5G mobile networks, essential for future-proofing telecommunications infrastructure continue to expand rapidly. This growth is driven by the growing need for connectivity that is high-quality and universally accessible at an affordable cost. At the end of 2023, 5G technology accounted for 28% of mobile broadband subscriptions, up 9% from the end of 2022. Besides, fiber connections across OECD countries have increased by 73% since the COVID-19 pandemic started, from 122 million in December 2019 to 211 million by year-end 2023. The need for powerful and reliable data transmission is a key goal for such new applications as self-driving cars, smart cities, and augmented reality. Therefore, the impact of 5G on economic growth and innovation is of transformative importance which stands out as a focus area for infrastructure development strategies of various regions.

Wireless Gigabit Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the global, regional, and country levels for 2024-2032. Our report has categorized the market based on product, technology and end use industry.

Breakup by Product:

• Display Devices
  • Smartphones
  • Laptops and Tablets
  • Others
• Network Infrastructure Devices
  • Routers and Access Points
  • Adapters
  • Backhaul Stations
  • Docking Stations
     

The report has provided a detailed breakup and analysis of the market based on the product. This includes display devices (smartphones, laptops and tablets, and others), and network infrastructure devices (routers and access points, adapters, backhaul stations, and docking stations).

The display devices comprises smartphones, laptops, tablets, and other gadgets. As the demand for high-speed internet and seamless connectivity increases, these devices are widely integrating advanced wireless gigabit technologies. Additionally, smartphones are becoming more powerful, supporting data-intensive applications like streaming and gaming, thereby driving the need for faster wireless solutions. Laptops and tablets are also evolving, catering to remote work and digital content consumption, requiring higher bandwidth for optimal performance. This trend toward high-definition displays and immersive experiences contributes significantly to the wireless gigabit market's growth, as consumers seek devices that can leverage faster internet connections.

Besides, network infrastructure devices, including routers, access points, adapters, backhaul stations, and docking stations, are critical to the wireless gigabit market expansion. As organizations and individuals demand higher bandwidth for various applications, the need for advanced networking equipment that supports wireless gigabit standards becomes paramount. The adoption of smart homes and IoT devices further fuels this segment, as reliable and high-speed connectivity is essential for seamless operation. Additionally, the rise of remote work has led to increased investments in robust network infrastructure, ensuring efficient and high-speed internet access. Hence key players are introducing advanced product variants to meet these needs. For instance, on 25 March 2024, Airvine developed a multi-gigabit-speed wireless backhaul system for indoor use and announced the successful closure of its Series A funding round. The funding round raised $6.2 Million and concluded at the end of February. The capital will be utilized by Airvine for the continued development of its products and to bolster its sales team, capitalizing on the growing customer interest in its target markets. This investment aims to accelerate the development of Airvine's WaveTunnel product, the industry's first gigabit-speed wireless indoor backhaul system.

Breakup by Technology:

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

A detailed breakup and analysis of the market based on the technology have also been provided in the report. This includes a system on-chip (SoC) and integrated circuit chip (IC chip).

The system-on-chip (SoC) incorporates multiple components such as the CPU, GPU, and wireless communications capabilities put together on a single chip. It offers improved performance and energy efficiency, resulting in increasing applications in modern displays like smart TVs, tablets, and mobile phones. As manufacturers adopt SoC technology, they can offer devices with higher performance and lower power consumption, driving consumer demand.

Moreover, the integrated circuit (IC) chip also plays an essential role in the network infrastructure of the wireless gigabit market. Additionally, IC chips are considered to be building blocks of routers, switches, and other networking equipment which helps in great processing and transmission of data. As businesses and consumers demand more internet speed and reliable connections, high-performance IC chips become necessary, thus influencing market growth. Apart from this, several innovations in IC technology such as increased bandwidth and decreased latency are required to give backing to modern emerging applications like IoT, smart cities, and cloud computing. Consequently, the growth of the wireless gigabit market is significantly influenced by advancements in IC chips, driving investments in network infrastructure to meet the evolving connectivity requirements.

Breakup by End Use Industry:

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

IT and telecom represents the leading market segment 

The report has provided a detailed breakup and analysis of the market based on the end use industry. This includes BFSI, healthcare, IT and telecom, retail, media and entertainment, and others. According to the report, IT and telecom represented the largest segment.

The IT and telecom sector is driven by the growing need for high-speed internet services and a strong network infrastructure to support emerging applications like cloud computing, big data analytics, and 5G connectivity. Moreover, companies in this sector are also paying much importance to the upgrade in wireless networks to gain faster data transfer rates and eliminate latency factors, thus promoting smooth communication and collaboration. According to the latest wireless gigabit market forecast, the IT and telecom sector will rapidly grow owing to the growing demand for seamless connectivity and digital transformation.

Breakup by Region:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

North America leads the market, accounting for the largest wireless gigabit market share

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America was the largest regional market for wireless gigabit.

North America market is primarily attributed to significant advancements in technology and substantial investments in infrastructure development. The presence of key players such as Qualcomm and Intel further bolsters market growth in this region. Additionally, the widespread adoption rates of advanced wireless technologies among consumers and enterprises contribute to North America's leading position. For instance, in September 2024, Airvine, a California-based company introduced its WaveCore product line that delivers high-speed multi-gigabit wireless networking connectivity capable of penetrating solid concrete. It is designed to complement the WaveTunnel wireless backhaul system. WaveCore, a point-to-point (PTP) layer 2 Ethernet bridge, operates using power over Ethernet (PoE) or a 12V DC input. The setup includes two nodes, each measuring 10.1” x 2.7” x 10.3”, placed on opposite sides of concrete structures such as walls, floors, or ceilings. Initial testing by customers has shown promising results, with connectivity speeds reaching 3 Gbps through eight inches of concrete across a 54-foot link and 4 Gbps through a 12-inch concrete wall at a distance of 6 feet. This new product offers robust high-speed multi-gigabit wireless networking capabilities, even through solid concrete barriers.

Competitive Landscape:

• The market research report has also provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have also been provided. Some of the major market players in the wireless gigabit industry include Broadcom Inc, Cisco Systems Inc., Intel Corporation, Marvell Technology Inc., MediaTek Inc., Millitronic, NXP Semiconductors N.V., Panasonic Corporation, Peraso Technologies Inc., Qualcomm Technologies Inc., Samsung Electronics Co. Ltd. and Sivers Semiconductors AB.
  
  (Please note that this is only a partial list of the key players, and the complete list is provided in the report.)
   
• At present, key players in the wireless gigabit market are implementing several strategies to enhance growth. Moreover, investments from companies in research and development improved technologies like Wi-Fi 6 and 6E. The new products have higher connection speeds with better reliability. Strategically, when companies collaborate to come up with integrated solutions, such as Cisco with communications providers, solution proposals can be tailored to different market needs. Besides, companies are expanding their product lines with innovative routers and networking devices designed for gigabit speeds. For instance, on 14 November 2023, Cambium Networks, a prominent global networking solutions provider, revealed that Nextlink Internet has committed to a substantial purchase of its ePMP 6 GHz fixed wireless broadband technology. This move by Nextlink is part of an effort to extend its gigabit services, particularly aimed at enhancing connectivity in sparsely populated rural areas. During preliminary field tests, Nextlink successfully delivered real download speeds exceeding 1 Gbps and upload speeds of 500 Mbps directly to customer locations. This strategic deployment by Nextlink aims to provide a cost-effective method for potentially expanding service to hundreds of thousands of homes.

Wireless Gigabit Market News:

• In April 2024, FullFibre Ltd was awarded over £30 Million in contracts as part of the government's Project Gigabit initiative to bring high-speed broadband to rural areas of West Herefordshire and Northern Derbyshire. This significant investment will enable the installation of cutting-edge broadband infrastructure for thousands of residences and businesses in West Herefordshire, the Forest of Dean, and parts of the Peak District in rural Northern Derbyshire. Project Gigabit, a £5 Billion government endeavor, aims to enhance digital connectivity in less accessible regions. These contracts will facilitate the expansion of broadband to over 12,000 rural properties in these areas and additionally extend service to another 18,000 deeply rural properties typically considered too costly to connect.
• On 26 April 2024, NTT Corporation announced the development of a technology that enables seamless transitioning between 60 GHz band local area network (LAN) wireless gigabit (WiGig), a stationary wireless communication system, and 5G/LTE, a mobile wireless system, through distance estimation with radio waves. This advancement was showcased in a high-speed setting using a formula car, proving its capability in ultra-fast mobile environments. The innovative system merges high-frequency stationary wireless communication, with mobile wireless networks, facilitating its use in mobile devices traveling across broader areas, such as high-speed trains and drones. This integration allows stationary high-frequency systems to act as temporary network extensions for mobile systems, potentially enhancing overall wireless communication capacity.

Wireless Gigabit Market Report Scope:

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the wireless gigabit market from 2018-2032.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the global wireless gigabit market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assists stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the wireless gigabit industry and its attractiveness.
• The competitive landscape allows stakeholders to understand their competitive environment and provides insight into the current positions of key players in the market.