Wireless Gigabit Market SoC, Module, IEEE 802.11AD, IEEE 802.11AY, 57-71 GHz, Router, Access Point, Docking Station, Backhaul Station, Adapter, AR/VR, Multimedia Streaming, Video Wall, Biometric, Smart City, Gesture Control - Global Forecast to 2029
Wireless Gigabit Market Size & Growth
[220 Pages Report] The global wireless gigabit market is projected to grow from USD 66.9 million in 2024 to USD 138.8 million by 2029, at a CAGR of 15.7%. The wireless gigabit market is driven by the increasing demand for high-speed wireless connectivity. Traditional Wi-Fi networks can only occasionally meet the consumers’ need for high-speed, low-latency wireless connectivity. WiGig is a wireless communication technology that operates in the unlicensed 60 GHz frequency band, providing multi-gigabit speeds and low interference. It is suitable for high-bandwidth applications such as HD video streaming, online gaming, and smart devices including smartphones and AR/VR devices. Additionally, deploying 5G networks presents further opportunities for WiGig technology to support wireless backhaul and improve network performance and capacity in urban areas. The market growth is also likely to be fueled by the expansion of smart cities and digital infrastructure where robust high-speed wireless connectivity is crucial.
Wireless Gigabit Market Forecast to 2029
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AI Impact on Wireless Gigabit Market
AI is playing a pivotal role in optimizing network performance and improving user experiences. AI-driven algorithms now enable efficient administration and bandwidth distribution, reducing latency and helping maintain high-speed connections even in high-congestion areas. This is crucial for AR/VR, HD video streaming, and IoT applications that depend on seamless, low-latency connections. This leads to better user experience, making Wi-Fi 802.11ad networks even more reliable due to AI-powered predictive maintenance and automated troubleshooting that reduces downtimes when transitioning from one module to another within a WiGig network.
Wireless Gigabit Market Trends & Dynamics
Driver: Growing consumption of HD video streaming
The advent of OTT streaming services offering 4K and 8K content has led consumers to expect seamless playback without buffering interruptions, which can be caused by limited Wi-Fi bandwidth and network congestion. WiGig technology operates in the 60 GHz frequency band and offers multi-gigabit speeds and near-zero latency to meet high-speed data rate requirements critical for HD video streaming. The increasing consumption of HD video streaming fuels the wireless gigabit market growth.
Restraint: Data privacy and security concerns associated with WiGig technology
Integration of WiGig technology in the communication channel leads to various risks associated with collecting, storing, and transmitting traffic data. WiGig operates in the 60 GHz unlicensed frequency band, creating a high-risk environment of privacy breaches due to the rising threats. These cyberattacks may lead to unauthorized access to connectivity channels, disrupting communications. Additionally, cyber threats create a risk of unauthorized access to user data generated by smartphones, IoT devices, and other connected devices, leading to concerns regarding unauthorized surveillance and cyberattacks.
Opportunity: Significant focus on smart city initiatives due to rapid urbanization
Rapid urbanization has led to the expansion of smart cities globally. Countries worldwide invest heavily in smart infrastructure by integrating advanced wireless technologies such as wireless gigabit (WiGig). For instance, a smart city ecosystem consists of various connected and IoT devices, and WiGig technology provides wireless channels for data transmission and ensures efficient transmission and processing of data generated by these devices.
Challenge: Rapid and ongoing changes in technology landscape
As the technology landscape evolves rapidly, wireless gigabit presents a significant challenge in the wireless connectivity market. As new technologies appear and current technology evolves, companies in the ecosystem must continuously invest in the research and development of changing market demand and advancements. Additionally, intense competition in the market and pressure to offer innovative solutions further restrict companies from maintaining market leadership. Companies' negligence in identifying the technological shift may result in declining market share and revenue.
Wireless Gigabit Market Ecosystem
The wireless gigabit market is dominated by established and financially sound manufacturers with extensive experience in the industry. These companies have diversified product portfolios, cutting-edge technologies, and strong global sales and marketing networks. Leading players in the market include Peraso Technologies Inc. (US), Tensorcom, Inc. (US), Sivers Semiconductors AB (Sweden), STMicroelectronics (Switzerland), and Qualcomm (US).
Module segment to hold largest share of wireless gigabit market, by offering, throughout forecast period.
The wireless gigabit market is gaining momentum in module offerings, driven by the rising need for high-speed and low-latency wireless connections across various devices and applications, including smartphones, laptops, and tablets. Modules enable fast switching of consumer electronics, enterprise solutions, and industrial systems to WiGig technology and represent a flexible solution with the right cost strategy for manufacturers implementing high-speed wireless functionality. As the WiGig technology is widely adopted in AR/VR, IoT, and smart home devices along with backhaul applications, the demand for WiGig modules grows exponentially.
63-65 GHz frequency band to exhibit highest CAGR in wireless gigabit market, by channel, from 2024 to 2029.
WiGig for the 63–65 GHz channel is gaining momentum, as it can deliver ultra-high-speed transmission and has the maximum resistance to interference between short ranges. It is an excellent opportunity in dense urban environments with high-capacity requirements. This spectrum is crucial for 4K/8K video streaming, AR/VR experiences in real-time, and wireless backhaul necessary in high-bandwidth activities on future 5G networks. The utilization of a combination of this frequency band and WiGig technology significantly improves connectivity, making it a tuned solution for deployment in consumer and enterprise applications.
Telecom segment to hold majority of market share during forecast period.
The telecom segment is projected to account for the largest share of the wireless gigabit market, by end user, during the forecast period. Mobile and internet penetration has increased network traffic, driving operators to invest in advanced technologies to mitigate network congestion. Telecom companies are increasingly adopting WiGig technology to expand network capacity and reduce congestion by routing network traffic to other frequency bands. Thus, they can improve service quality and user experience.
Wireless Gigabit Market by Region
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North America to capture largest market share between 2024 and 2029.
North America is expected to hold the largest market share during the forecast period. North America, specifically the US, is an innovation hub due to the significant presence of large tech companies such as Qualcomm Incorporated (US), Cisco Systems, Inc. (US), Microsoft (US) in the region, attracting huge investments in WiGig technology innovations. Additionally, the region experiences high internet penetration, leading to increased adoption of smart devices, which require high-speed wireless connectivity. The rise in the adoption of smart devices drives the demand for WiGig technology for its ability to offer high-speed wireless connectivity.
Top Companires Wireless Gigabit- Key Market Players:
The Wireless gigabit market is dominated by players such as Peraso Technologies Inc. (US), Tensorcom, Inc. (US), Sivers Semiconductors AB (Sweden), STMicroelectronics (Switzerland), Qualcomm (US) and others.
Scope of the Wireless Gigabit Market Report
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Report Metric |
Details |
| Estimated Market Size | USD 66.9 million in 2024 |
| Projected Market Size | USD 138.8 million by 2029 |
| Wireless Gigabit Market Growth Rate | at a CAGR of 15.7% |
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Market size available for years |
2020–2029 |
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Base year considered |
2023 |
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Forecast period |
2024–2029 |
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Forecast units |
Value (USD Million) |
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Segments Covered |
By Offering, By Protocol, By Channel, By Product, and By End User |
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Geographies covered |
North America, Europe, Asia Pacific, and RoW |
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Companies covered |
The major market players include Peraso Technologies Inc. (US); Tensorcom, Inc. (US); Sivers Semiconductors AB (Sweden); STMicroelectronics (Switzerland); Qualcomm (US); Fujikura Ltd. (Japan); Blu Wireless (US); Pharrowtech (US); Analog Devices (US); indie Semiconductor (US); Renesas Electronics Corporation (Japan); Murata Manufacturing Co., Ltd. (Japan). (Total 25 players are profiled.) |
Wireless Gigabit Market Highlights
The study categorizes the Wireless gigabit market based on the following segments:
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Segment |
Subsegment |
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By Offering |
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By Protocol |
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By Channel |
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By Product |
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By End User |
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By Region |
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Recent Developments
- In September 2023, Peraso Technologies Inc. announced the release of the PRM2144X, its latest mmWave module in the Perspectus series, which features long-range, outdoor applications.
- In February 2022, Pharrowtech launched the PTR1060, the world’s first IEEE 802.11ay-compliant CMOS RF chip for indoor and outdoor wireless use cases, supporting 57 to 71 GHz bandwidth.
Frequently Asked Questions:
What are the major driving factors and opportunities for the wireless gigabit market?
Some of the major driving factors for the growth of this market include the growing demand for HD video streaming, increased adoption of AR/VR devices, proliferation of smart devices, and a rise in investment in high-speed internet. Moreover, the rising deployment of 5G networks, the increasing prevalence of smart city initiatives, and increasing investments in vehicle-to-everything (V2X) communication are critical opportunities for the wireless gigabit market.
Which region is expected to hold the largest market share?
The North American WiGig market is emerging, providing a cutting-edge digital network in the region supported by early adoption of new technology and heavy investment in deploying 5G networks. WiGig is emerging as an essential technology for delivering ultra-fast wireless connections, a must-have due to the popularity of HD video streaming and other bandwidth-heavy applications such as remote work solutions or AR/VR. North America also holds a significant market position, focusing on smart cities, IT, IoT development, etc. These factors contribute to the growth of the wireless gigabit market in North America.
Who are the leading players in the global wireless gigabit market?
Companies such as Peraso Technologies Inc. (US), Tensorcom, Inc. (US), Sivers Semiconductors AB (Sweden), STMicroelectronics (Switzerland), and Qualcomm (US) are the leading players in the market.
What are some of the technological advancements in the market?
Increased innovation in the chipsets and modules has significantly improved the power consumption and range limitations. WiGig integration with 5G networks is transforming wireless backhaul, meeting modern networks' high-speed and low-latency needs. In addition, more effective beamforming technology and spectrum management allow for stronger signals with less interference, even in crowded areas. These technological advancements are fuelling the development of advanced WiGig-powered products, such as high-resolution wireless displays and AR/VR headsets to home automation devices, expanding this market's adoption and growth.
What are some macroeconomic factors impacting the wireless gigabit market?
Macroeconomic factors such as interest rates, inflation, GDP growth, unemployment, and debt will significantly impact the wireless gigabit market in the coming years. These factors highly depend on government initiatives, enterprise investments, borrowing costs, and research and development spending. High inflation leads to an increase in interest rates, restricting businesses from minimizing spending on advanced wireless communication technology research and development. Reduced wireless communication technology investments may delay the development of advanced wireless solutions, impacting the wireless gigabit market growth.
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The study involved four major activities in estimating the current size of the Wireless gigabit market. Exhaustive secondary research collected information on the market, peer, and parent markets. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.
Secondary Research
Secondary sources for this research study included corporate filings (such as annual reports, investor presentations, and financial statements), trade, business, professional associations, white papers, certified publications, articles by recognized authors, directories, and databases. The secondary data was collected and analyzed to determine the overall market size, further validated through primary research.
List of major secondary sources
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SOURCE |
WEB LINK |
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Federal Communications Commission (FCC) |
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Canadian Radio-television and Telecommunications Commission (CRTC) |
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European Telecommunications Standards Institute (ETSI) |
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Office of Communications (Ofcom) |
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Ministry of Industry and Information Technology (MIIT) |
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Ministry of Internal Affairs and Communications (MIC) |
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Ministry of Electronics and Information Technology (MeitY) |
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Ericsson |
https://www.ericsson.com/en/reports-and-papers/mobility-report/reports/june-2024 |
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Nokia |
https://www.nokia.com/about-us/company/worldwide-presence/india/mbit-index-2024/ |
Primary Research
Extensive primary research was conducted after gaining knowledge about the current scenario of the Wireless gigabit market through secondary research. Several primary interviews were conducted with experts from the demand and supply sides across four major regions: North America, Europe, Asia Pacific, and RoW. This primary data was collected through questionnaires, emails, and telephone interviews.
To know about the assumptions considered for the study, download the pdf brochure
Market Size Estimation
Both top-down and bottom-up approaches were used to estimate and validate the Wireless gigabit market size and its various dependent submarkets. The key players in the market were identified through secondary research, and their market share in the respective regions was determined through primary and secondary research. This entire procedure involved the study of annual and financial reports of top players and extensive interviews with industry leaders such as chief executive officers (CEOs), vice presidents (VPs), directors, and marketing executives. All percentage shares and breakdowns were determined using secondary sources and verified through primary sources. All the possible parameters that affect the markets covered in this research study were accounted for, viewed in extensive detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data. This data was consolidated and supplemented with detailed inputs and analysis from MarketsandMarkets and presented in this report.
Bottom-Up Approach
The bottom-up approach was used to determine the overall size of the wireless gigabit market based on the revenues of the key players and their shares in the market. The overall market size was calculated based on the revenues of the key players identified in the market.
- Identifying various end-use industries using or expected to implement Wireless Gigabit
- Identifying various end users using or expected to implement Wireless Gigabit
- Analyzing each end user, along with the significant related companies and Wireless gigabit providers
- Estimating the Wireless gigabit market for end user
- Understanding the demand generated by companies operating across different end-user
- Tracking the ongoing and upcoming implementation of projects based on Wireless gigabit technology by end users and forecasting the market based on these developments and other critical parameters
- Carrying out multiple discussions with key opinion leaders to understand the type of Wireless gigabit products designed and developed vertically, helping analyze the breakdown of the scope of work carried out by each significant company in the Wireless gigabit market
- Arriving at the market estimates by analyzing Wireless gigabit companies as per their countries and subsequently combining this information to arrive at the market estimates by region
- Verifying and cross-checking the forecasts at every level through discussions with the key opinion leaders, including CXOs, directors, and operations managers, and finally with domain experts at MarketsandMarkets
- Studying various paid and unpaid sources of information, such as annual reports, press releases, white papers, and databases
Top-Down Approach
In the top-down approach, the overall market size has been used to estimate the size of the individual markets (mentioned in the market segmentation) through percentage splits from secondary and primary research.
The most appropriate immediate parent market size has been used to implement the top-down approach to calculate the market size of specific segments. The top-down approach was implemented for the data extracted from the secondary research to validate the market size obtained.
Each company's market share was estimated to verify the revenue shares used earlier in the top-down approach. This study determined and confirmed the overall parent and individual market sizes using the data triangulation method and validating data through primaries. The data triangulation method is explained in the next section.
- Focusing on top-line investments and expenditures being made in the ecosystems of various end-user
- Building and developing the information related to the market revenue generated by critical Wireless gigabit solution providers
- Conducting multiple on-field discussions with the key opinion leaders involved in the development of Wireless gigabit products in various end-user
- Estimating geographic splits using secondary sources based on numerous factors, such as the number of players in a specific country and region, the offering of Wireless gigabit, and the level of solutions offered by end-user
Data Triangulation
After arriving at the overall market size from the above estimation process, the market has been split into several segments and subsegments. The data triangulation procedure has been employed wherever applicable to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments. The data has been triangulated by studying various factors and trends from both the demand and supply sides. Additionally, the market size has been validated using top-down and bottom-up approaches.
Market Definition
Wireless Gigabit (WiGig) is a high-speed wireless communication technology operating in the 60 GHz frequency band. It is designed to provide very fast data rates over short distances, making it ideal for high-bandwidth and low-latency applications such as AR/VR devices, HD video streaming, online gaming, and more. WiGig technology follows the IEEE 802.11ad and IEEE 802.11ay standard protocols, enabling multi-gigabit speeds up to 7 Gbps.
Key Stakeholders
- Technology Developers and Standardization Bodies
- Semiconductor Manufacturers
- Device Manufacturers
- Network Equipment Manufacturers
- Telecommunications Providers
- Software and Application Developers
- Enterprise Users and End Consumers
- Regulatory Bodies and Governments
- Research and Academic Institutions
- Investors and Venture Capitalists
Report Objectives
- To define, describe, and forecast the Wireless gigabit (WiGig) market by offering, protocol, channel, product, use case, end user, and region
- To forecast the size of the market segments for four major regions—North America, Europe, Asia Pacific, and the Rest of the World (RoW)
- To provide detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges)
- To strategically analyze micromarkets concerning individual growth trends, prospects, and contributions to the total market
- To provide a detailed overview of the Wireless gigabit (WiGig) market’s value chain, the ecosystem, technology trends, use cases, regulatory environment, and Porter’s five forces analysis.
- To strategically profile the key players and comprehensively analyze their market shares and core competencies
- To analyze the opportunities in the market for stakeholders and describe the competitive landscape of the market
- To analyze competitive developments, such as partnerships, product developments, and research & development (R&D), in the market
Available Customizations
With the given market data, MarketsandMarkets offers customizations according to the specific requirements of companies. The following customization options are available for the report:
- Detailed analysis and profiling of additional market players (up to 5)
- Additional country-level analysis of the Wireless gigabit market
Product Analysis
- The product matrix provides a detailed comparison of each company's product portfolio in the wireless gigabit market.
Generating Response ...
Growth opportunities and latent adjacency in Wireless Gigabit Market