Wireless Gigabit Market Worth $138.8 million by 2029 at a CAGR of 15.7%

(IT-NEWSWIRE.COM, December 06, 2024 ) The global Wireless Gigabit market is expected to be valued at USD 66.9 million in 2024 and is projected to reach USD 138.8 million by 2029, growing at a CAGR of 15.7% from 2024 to 2029. The market is growing due to the rise in demand for high-speed internet, as the adoption of IoT and connected devices, high-bandwidth video streaming, and online gaming applications have increased significantly. Wireless gigabit offers ultra-fast data transfer rates to support these applications.

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In the forecast period, the Wireless gigabit market for module offering is expected to hold the highest market share. This growth is attributed to the WiGig module's ability to quickly adapt to different devices and applications and support a range of use cases, including wireless docking and high-speed data transfer. The WiGig modules help reduce overall product costs by eliminating the need for other components. Moreover, the increasing adoption of smart devices requiring high-speed, low-latency connectivity drives the demand for WiGig modules.

During the forecast period, the network infrastructure devices products will dominate the wireless gigabit market. This growth is attributed to the exponential increase in data traffic driven by HD video streaming, online gaming, and IoT. These applications require high-speed connectivity to reduce latency and provide a quality experience. Additionally, the increasing development of smart cities requires robust and high-speed wireless networks for various applications. WiGig technology's ability to provide wireless network connectivity helps effectively manage multiple applications in smart cities.

The wireless gigabit market for telecom end users is projected to account for the largest share of the market during the forecast period. The rise in mobile and internet penetration has increased network traffic, driving network 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, improving service quality and user experience.

The Wireless gigabit market in North America is expected to hold the largest share during the forecast period. The market in North America, specifically the US, is an innovation hub due to large tech companies in the region. The presence of large tech companies in the area attracts significant investment in promoting the adoption of Wireless Gigabit. 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.

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Key Market Players

Major players operating in the Wireless gigabit market are 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). From North America to Asia, these companies operate multinational, offering a comprehensive array of products. The competitive landscape is characterized by a blend of established industry giants and nimble startups, each contributing to the dynamic evolution of security technologies.

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Wireless Gigabit Market Worth $138.8 million by 2029 at a CAGR of 15.7%