The global gigabit WiFi market is projected to grow at a noteworthy CAGR during the forecast period, i.e., 2021-2029
Research Nester published a report titled “Gigabit WiFi Market: Global Demand Analysis & Opportunity Outlook 2029” which delivers detailed overview of the gigabit WiFi market in terms of market segmentation by technology, product type, application, protocol, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global gigabit WiFi market is projected to grow at a noteworthy CAGR during the forecast period, i.e., 2021-2029, on the back of growing need for faster data transfer services and the rise in usage of portable smart devices. The total number of smart phone users are estimated to rise up to 4.2 billion by the end of 2023. Along with these, increasing adoption of WiFi hotspot devices across various facilities, and the high level of accuracy and security offered by wireless gigabit are another factors projected to boost the growth of the market in the coming years.
On the basis of product type, the gigabit WiFi market is segmented into display devices, network infrastructure devices, networking devices, and consumer electronics, out of which the network infrastructure devices segment is anticipated to grab a substantial market share during the forecast period, owing to the escalating demand for devices with high data throughput and the rising emergence of 60 GHz frequency spectrum.
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Geographically, the gigabit WiFi market is segmented into five major regions, namely North America, Europe, Asia Pacific, Latin America and the Middle East & Africa. Among these, the market in Europe is expected to grow at the highest rate over the forecast period, which can be attributed to the high availability of low cost gigabit products and the intensifying demand for next-generation smart devices in the region.
However, expensive production of wireless gigabit chipset is the major factor expected to operate as key restraint to the growth of the gigabit WiFi market over the forecast period.
Increasing Need for High-Speed Data Services
As the user base for smart devices is on a rise, there is an ever-increasing demand for superior internet connectivity with faster data transfer rates by consumers globally. Owing to this, several leading telecom and networking companies are driven to offer unprecedented internet services, which in turn is projected to facilitate the emergence of high-speed 60 GHz frequency band for data communications in the near future. This is one of the leading causes anticipated to boost market growth over the forecast period.
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This report also provides the existing competitive scenario of some of the key players of the global gigabit WiFi market which includes company profiling of Intel Corporation (NASDAQ: INTC), Qualcomm Technologies, Inc. (NASDAQ: QCOM), Sivers Semiconductors AB (FRA: 2DG), Broadcom Inc. (NASDAQ: AVGO), NXP Semiconductors N.V. (NASDAQ: NXPI), Blu Wireless, Samsung Electronics Co., Ltd. (KRX : 005930), Infineon Technologies AG (ETR: IFX), ASUSTeK Computer Inc. (ETR: IFX), Tensorcom Inc., and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the gigabit WiFi market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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