Market Size of Europe WiGig Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 1.05 Billion |
| Market Size (2029) | USD 2.59 Billion |
| CAGR (2024 - 2029) | 19.69 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe WiGig Market Analysis
The Europe WiGig Market size is estimated at USD 1.05 billion in 2024, and is expected to reach USD 2.59 billion by 2029, growing at a CAGR of 19.69% during the forecast period (2024-2029).
- The implementation of 5G networks and the increasing adoption of IoT devices have created a need for fast and reliable wireless connectivity. WiGig technology can provide the bandwidth to support these applications, enabling real-time data transmission and communication.
- With the ever-expanding need for seamless communication, digital entertainment, and demand for wireless networks, the WiGig is gradually emerging as the most sought-after next-generation technology. Many chipset giants and start-ups also adopt WiGig on a large scale to develop a wide range of products with better features.
- The rising adoption of high-resolution videos is driving the WiGig market. With the increasing popularity of high-resolution videos, including 4K and 8K videos, there is a growing demand for high-speed wireless connectivity to enable streaming these videos without buffering or lagging. WiGig technology provides the bandwidth to support high-resolution video streaming, allowing users to enjoy a smooth and uninterrupted viewing experience.
- The shorter operating range of WiGig products is a factor that can restrain the WiGig market. WiGig technology operates in the 60 GHz frequency band and provides high-speed data transfer rates of up to 7 Gbps over short distances, typically up to 10 meters. This shorter operating range limits the use of WiGig in specific applications, such as long-range wireless networking or outdoor environments.
- The COVID-19 pandemic has increased remote work and online activities, creating a greater demand for high-speed wireless connectivity. WiGig technology, with its high data transfer rates and low latency, is suited to meet this demand. As a result, there has been an increased in the adoption of WiGig-enabled devices and products, particularly for video conferencing and other remote collaboration tools. Post-pandemic, the market is growing rapidly with the ongoing rollout of 5G networks. The increasing adoption of IoT devices would likely drive the demand for fast and reliable wireless connectivity.
