Global WiGig Market Report and Forecast 2024-2032

Global WiGig Market Outlook

The global WiGig market size attained a value of above USD 2.80 billion in 2023. The market is estimated to grow in the forecast period of 2024-2032 at a CAGR of 21.5% to reach more than USD 16.15 billion by 2032.

WiGig, also known as 60 GHz Wi-Fi, is defined as wireless high-speed data technology that includes the current IEEE 802.11ad standard, along with the upcoming IEEE 802.11ay standard. The WiGig facilitates high-performance wireless data, display, and audio applications.

The high frequency of the 60 GHz band limits its range and penetration through walls. WiGig is effective over short distances, typically within a room. This makes it ideal for applications requiring high bandwidth over short distances, like wireless docking stations, high-definition video streaming, or virtual reality. The 60 GHz band is less crowded than the 2.4 GHz and 5 GHz bands, leading to reduced interference from other wireless devices.

WiGig is particularly useful in situations where large amounts of data need to be transferred quickly over a short distance without cables. It is used in applications like wireless virtual reality headsets, high-speed data transfer between devices, and wireless video streaming.

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WiGig Market Segmentation

Based on product, the market is divided into:

• Display Devices

• Network Infrastructure Devices

Based on product, the WiGig display devices segment occupies a significant share of the market and is likely to attain considerable growth in the forecast period. This can be attributed to the convenient docking of WiGig between devices like smartphones, laptops, projectors, and tablets, among others. Through WiGig display devices, a user can stream multiple high-definition videos or movies, which is bolstering the market growth. Moreover, the growing popularity of WiGig among college and school students is driving the WiGig market growth.

As WiGig display devices provide high-speed internet to efficiently collate data and information required for school projects, college assignments, or office projects, their demand is significantly surging, which is predicted to propel the market growth in the forecast period.

The display devices segment finds its application in various settings such as for streaming high-definition content from mobile devices or computers to TVs or projectors without the need for HDMI cables. In conference rooms and classrooms, WiGig-enabled projectors or displays can seamlessly connect to laptops or tablets for presentations without cable clutter.

The market for WiGig-enabled display devices is growing, driven by the increasing demand for wireless solutions in home entertainment, business settings, and immersive technologies like VR. This growth is also facilitated by the continuous development and miniaturisation of WiGig hardware, making it easier to integrate into various display devices.

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On the basis of application, the market is segmented into:

• Gaming and Multimedia

• Networking

• Others

Gaming and multimedia occupy a substantial WiGig market share The global market is being driven by the growing applications of WiGig in gaming, multimedia and networking owing to the rapid digitisation.

After the COVID-19 outbreak, the growing trend of work-from-home is generating significant demand for high-speed internet and quick data transfer in order to bolster the efficiency of employees, which is fuelling the growth of the market. Over the forecast period, the rising demand for WiGig in the gaming market owing to the booming video game sector, coupled with the growing popularity of gaming among the youth, is likely to aid the market.

The high-speed internet, quick data transfer, and the ability of WiGig to facilitate display and audio applications in order to enhance the gaming experience are increasing the appeal of the technology among gamers, which is projected to positively impact the growth of the market in the upcoming years.

The report also covers the major regional markets for WiGig, which are as follows:

• North America

• Europe

• Asia Pacific 

• Latin America

• Middle East and Africa

WiGig Market Analysis

WiGig offers extremely high data transfer rates, up to 7 Gbps, which is much faster than traditional Wi-Fi. This makes it ideal for bandwidth-intensive applications like high-definition video streaming, virtual reality, and rapid file transfers. The increasing need for faster internet speeds for various applications drives the growth of the market. The proliferation of smart devices and the Internet of Things (IoT) are some of the crucial WiGig market trends that create more use cases for WiGig.

As more devices become WiGig-compatible, its market is expected to expand and emerging technologies like virtual reality and augmented reality could create new applications for WiGig. Furthermore, with the advancement of 5G and beyond, WiGig may play a crucial role in providing high-speed, short-range connectivity solutions.

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Regional Insights

Europe accounts for a significant share of the overall market value

The market growth in Europe is likely to attain a significant pace in the forecast period owing to the rising demand for high-speed internet, data transfer at a faster rate, and the availability of low-cost wireless gigabit products in the region. With the introduction of various government initiatives to boost telecom and technology services, the market for WiGig is witnessing robust growth.

For instance, in April 2020, Emilia Romagna in Italy launched a free gigabit connectivity project with 5000 public Wi-Fi hotspots to offer potential speeds up to 1 Gbps. Such developments are providing impetus to the market in the region.

In Europe, WiGig finds applications in several sectors such as consumer electronics for smartphones, laptops, and wireless docking stations, particularly in high-end markets, the enterprise sector for high-speed wireless networks and connectivity solutions in office and business settings, and healthcare and industrial applications for fast data transfer in settings where cable-free environments are crucial.

European regulations around wireless technology and spectrum allocation play a critical role in propelling the WiGig market demand. The European Union's policies on technology and digital markets impact how WiGig is deployed and utilised across member countries. The future of the market in Europe looks promising, with potential growth in sectors like telecommuting, e-learning, and digital healthcare, accelerated by trends like remote working and online education.

Key Players in the Market

The WiGig market report by EMR offers a detailed analysis of the following key players in the market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• Panasonic Corporation

• Qualcomm Technologies, Inc.

• Intel Corporation

• Broadcom Inc.

• Peraso Technologies Inc.

• Cisco Systems Inc.

• Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report

WiGig Market Report Snapshots

WiGig Market Size

WiGig Market Analysis

WiGig Market Regional Analysis

WiGig Companies