Report Ocean has released a research study titled “Wireless Gigabit Market 2023 Forecast to 2032 Analysis by Market Trends.” This study offers precise economic forecasts, global assessments, and country-level insights. It provides a comprehensive view of the competitive market and includes an in-depth supply chain analysis to identify significant industry changes. The study explores the current market status, anticipated future growth, technological advancements, investment opportunities, market economics, and financial data. It thoroughly examines the market and offers insights based on a SWOT analysis of the industry.
The Wireless Gigabit (WiGig) can be defined as a Wireless communication system which offers data transfer speed of over one Gigabit (One billion bits) per second and above. Gigabit uses millimeter waves for data communication. The working of Gigabit is similar to traditional Wi-Fi Network. In Gigabit a Wireless router transmits data at millimeter waves with the help of a high frequency antenna module integrated with the router. The rising penetration of IoT Connected devices and increasing demand for high-speed internet connectivity as well as recent strategic initiatives from leading market players are factors that are accelerating the global market demand.
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For instance, according to Statista – as of 2020, The number of Internet of Things (IoT) devices worldwide was estimated at 9.7 billion devices and the number of IoT devices is projected to grow to 29 billion IoT devices by 2030, Witnessing a CAGR of around 11.57 percent in a span of ten years. Furthermore, leading market players are working towards strategic initiatives including new product launches and collaboration activities. For instance, in August 2021, Taipei, Taiwan based networking equipment company D-Link Limited launched three new variants of High-performance Gigabit router, named DIR-2150 (AC2100 Wi-Fi Gigabit Router), DIR-1950 (AC1900 Wi-Fi certified Easy Mesh Gigabit Router), and DIR-1260 (AC1200 Gigabit Router). These new routers are based on Lightning-fast 11AC Wireless technology. Moreover, in January 2022, Siklu, a leader in millimeter wave (mmWave) solutions collaborated with Signify a leader in lighting. Under this partnership Siklu’s MultiHaul TG multi-gigabit wireless connectivity technology would be offered with Signify’s BrightSites portfolio. This new addition would be known as Broadband luminaires. This new BrightSites portfolio intended for transforming streetlights into a wireless connectivity grid to facilitate a wide range of digital city services, such as: IoT, security and traffic monitoring, 4G/5G small cells. Also, growing adoption of extended reality (XR) technologies coupled with rising technological advancements in networking solutions are anticipated to act as a catalyzing factor for the market demand during the forecast period.
Major market players included in this report are:
Marvell Technology Group Ltd.
Cisco Systems, Inc.
Azurewave Technologies, Inc.
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A deep analysis of the Wireless Gigabit Market within the industry can be summarized in 10 key points:
- Market Growth: The Wireless Gigabit market is experiencing significant growth due to the increasing demand for high-speed wireless connectivity across various applications, including consumer electronics, enterprise networking, and industrial IoT.
- Technology Evolution: The market is evolving with the adoption of advanced technologies like WiGig (802.11ad and 802.11ay), which enable multi-gigabit wireless data transfer speeds over short distances.
- Consumer Electronics: Wireless Gigabit is gaining traction in consumer electronics, with applications in streaming high-definition video, virtual reality, and gaming, driving demand for faster and more reliable wireless connections.
- Enterprise Networking: Businesses are increasingly deploying Wireless Gigabit for wireless docking stations, high-speed data transfer, and high-density wireless environments, enhancing productivity and reducing cable clutter.
- Industrial IoT: In industrial settings, Wireless Gigabit is used for high-speed data transmission, enabling real-time monitoring and control of equipment, improving automation and efficiency.
- Telecommunications: Wireless Gigabit technology is being considered for backhaul connections in 5G networks, providing the necessary capacity for the growing demand for mobile data.
- Market Players: Key industry players include Qualcomm, Intel, Broadcom, and various startups specializing in WiGig technologies, developing chipsets and solutions for various applications.
- Challenges: Challenges in the market include limited range (suitable for short-range applications), interference from physical obstacles, and the need for a line-of-sight connection.
- Regulatory Considerations: Regulatory approvals and spectrum allocation are critical for the expansion of the Wireless Gigabit market, as different countries have different regulations regarding the use of these frequencies.
- Future Prospects: The market is poised for continued growth, driven by technological advancements, increasing demand for high-speed connectivity, and the integration of Wireless Gigabit into emerging technologies like augmented reality, smart cities, and autonomous vehicles.
The detailed segments and sub-segment of the market are explained below:
IT & Telecom
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Rest of the World
Table of Contents:
- Executive Summary
- Market Overview
- Market Analysis
- Market Size and Forecast
- Market Trends
- Market Dynamics
- Market Segmentation
- Competitive Landscape
- Competitive Scenario
- Key Players
- Regional Analysis
- Regional Market Overview
- Market Size and Forecast by Region
- Product/Service Analysis
- Product/Service Overview
- Market Size and Forecast by Product/Service
- End-User Analysis
- End-User Overview
- Market Size and Forecast by End-User
- Industry Structure
- Key Findings and Recommendations
Market Research Objective:
To assess market size and growth potential:
- The objective is to determine the current market size, estimate its growth rate, and identify potential opportunities for market expansion.
To understand customer preferences and behavior:
- The objective is to gain insights into customer needs, preferences, buying behaviors, and decision-making processes to develop effective marketing strategies and product offerings.
To evaluate market competition:
- The objective is to assess the competitive landscape, identify key competitors, analyze their market share, strengths, weaknesses, and strategies to formulate a competitive positioning.
To explore new market segments:
- The objective is to identify and understand untapped or emerging market segments, assess their potential demand, and evaluate the feasibility of targeting these segments.
To assess brand perception and awareness:
- The objective is to measure brand awareness, perception, and loyalty among customers and target audiences to gauge the effectiveness of branding and marketing efforts.
To evaluate product or service satisfaction:
- The objective is to gather feedback from customers regarding their satisfaction levels with a specific product or service, identify areas for improvement, and enhance customer experience.
To analyze market trends and industry dynamics:
- The objective is to identify and analyze market trends, technological advancements, regulatory changes, and other factors influencing the industry’s dynamics to inform strategic decision-making.
To explore market entry opportunities:
- The objective is to identify potential markets for expansion, assess their attractiveness, understand entry barriers, and evaluate the feasibility of entering new markets.
To conduct market segmentation and targeting:
- The objective is to segment the market based on demographics, psychographics, or other relevant factors and develop targeted marketing strategies for each segment.
To assess pricing strategies:
- The objective is to evaluate pricing strategies in the market, analyze price sensitivity among customers, and identify optimal pricing levels for products or services.
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