WiGig Market Size

WiGig Market Analysis

The WiGig Market size is estimated at USD 27.73 million in 2024, and is expected to reach USD 95.14 million by 2029, growing at a CAGR of 27.96% during the forecast period (2024-2029).

The factors driving the growth of the Wireless Gigabit Market include an increase in bandwidth demand, a saturation of smartphones, and the use of various devices, all of which contribute to the overall industry development. Furthermore, rising IT spending and shifting budget distributions in emerging economies drive demand for technically advanced items to support the current initiative infrastructure.

• Public Wi-Fi contributes to various smart city goals, including bridging the digital divide, allowing Internet of Things (IoT)-based city services, and offering amenities for residents, students, visitors, and tourists. This, together with increased investments in smart city improvements by government agencies from various nations, is one of the primary reasons driving the market growth. Apart from that, WiGig devices are used in many enterprises to allow employees to finish work from various devices without the burden of a cable connection.
• They are also used for effective in-office networking, moving huge files, seamlessly running bandwidth-intensive programs, and projecting visuals and audio on a wide screen in a conference room or auditorium with very low latency. WiGig products are also used in handy public kiosk services and wireless docking between devices such as cellphones, laptops, projectors, and tablets. They are also frequently used for high-definition (HD) movie downloads, simultaneous streaming of multiple ultra-HD videos, and immersive gaming, augmented reality (AR), and virtual reality (VR) experiences. This, together with rising consumer expenditure on digital media, is fueling industry expansion.
• The growing preference for BYOD policies among organizations operating in various end-use industries is creating a considerable demand for WiGig, which will drive the market in the future. This shift toward BYOD allows enterprises to increase their IT infrastructure budgets to improve network speed. The rising usage of mobile phones, laptops, desktop computers, and other electronic devices at work is creating a major reliance on high bandwidth and internet speed to support the many apps and services. Furthermore, the growing necessity for a high-speed internet connection to speed up applications and work-related activities is fueling market expansion.
• Technological constraints are the main issue confronting industry participants in the worldwide WiGig market. The current technology operates at frequencies over 60Hz; however, the frequencies employed in contemporary Wi-Fi products are only between 2.4 and 5 GHz. As a result, there is a need to upgrade the current infrastructure, which will need a significant capital commitment from customers.
• Working from home has become a megatrend during the pandemic days. The speed of the shift to large-scale remote work has resulted in the use of personal devices, including mobile phones, laptops, tablets, desktops, etc. Employees are also observed using personal Wi-Fi and internet connections to access the corporate network. Moreover, in the post COVID-19 scenario, the market boosted Wi-Fi use to keep businesses and critical functions operational.