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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
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.
WiGig Market Report Snapshots
WiGig Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the global WiGig market attained a value of beyond USD 2.80 billion.
The market is estimated to grow at a CAGR of 21.5% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach more than USD 16.15 billion by 2032.
The major drivers of the market include the growing awareness pertaining to the high-speed and quick data transfer provided by the WiGig products, the rising demand for high-speed internet, and the increasing demand for WiGig in the gaming and multimedia applications, among others.
Technological advancements in smart devices and innovation and R&D activities in the gaming industry are expected to guide the growth of the industry in the forecast period.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The major products of WiGig in the market are display devices and network infrastructure devices.
The significant applications of WiGig are gaming and multimedia, and networking, among others.
The major players in the industry are Panasonic Corporation, Qualcomm Technologies, Inc., Intel Corporation, Broadcom Inc., Peraso Technologies Inc., and Cisco Systems Inc., among others.
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