WiGig Market Share, Strategies, Emerging Technologies, Growth Rate Analysis, Trends and Forecast

The major factors aiding in the swift growth of the WiGig market are the rising sale of portable consumer electronics and surging demand for high-speed internet connectivity. From ,078.7 million in 2018, the market is projected to grow to ,386.1 million in 2024, at a 27.9% CAGR during the forecast period (2019–2024). Developed by Wireless Gigabit Alliance, WiGig is a set of 60 GHz connectivity protocols, allowing data transfer at speeds of up to 7 Gbps. As it has a range of only 10 meters, a router must be placed near the device to offer seamless connectivity.

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Under the product segment, the categories of the market are consumer electronics, network devices, and others, which includes video conferencing systems, convenient public kiosks, and smart antennas. Among these, consumer electronics was the leading category during the historical period (2014–2018). This was a result of the rising demand for high internet speeds in tablets, TVs, smartphones, and laptops. The growing popularity of portable consumer electronics is also among the significant factors driving the WiGig market growth.

On the basis of technology, the WiGig market is bifurcated into integrated circuit (IC) and system-on-chip (SoC). Of these, the SoC category dominated the market in 2018 because of the growing penetration of smartphones in India and China. Therefore, semiconductors manufacturing firms are entering the smartphone SoC niche, owing to the easy integration of WiGig on SoCs, which allows for faster internet services. Even during the forecast period, the SoC technology will generate higher revenue in the market, compared to IC.

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Apart from helping make calls, several portable consumer electronics feature messing service, media applications, and Wi-Fi port. Among the primary reasons for their surging adoption is the launch of improved devices and increasing disposable income, which gives people more spending power. Further, due to the availability of the 802.11ad band of WiGig, which enables fast data transfer, consumer electronics manufacturers are integrating the technology in their devices. For example, in 2017, the Asus ZenFone 4 Pro, which has both gigabit LTE and 802.11ad Wi-Fi features, was launched by ASUSTek Computer Inc.

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How is Adoption of Bring-your-own-Device (BYOD) Culture Driving WiGig Market?

Companies are increasingly adopting the bring-your-own-device (BYOD) policy, as it aids in saving operational costs. The policy also provides convenience to the employees, who are more comfortable with working on their own device. However, people carrying their own devices, such as laptops and tablets, need to connect their devices to peripherals, such as mouse and local area network (LAN). In order to eliminate the requirement for individually connecting these devices, businesses are making use of WiGig in docking stations that would connect all computer peripherals. By making use of this technology, employees only need to connect their laptops to the dock. 

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The WiGig technology is a wireless standard designed to provide high wireless speeds and work on an altogether different frequency. Conventional wireless internet makes use of 2.4 GHz and 5 GHz bands, while WiGig makes use of 60G Hz bands for transmitting information. According to a P&S Intelligence report, in 2018, the global WiGig market generated revenue of $1,078.7 million, and it is projected to reach a value of $4,386.1 million by 2024, at a 27.9% CAGR during the forecast period (2019–2024). The two types of WiGig are 802.11ac and 802.11ad, between which, the former was more in demand in 2018.

The two major products which use the WiGig technology are networking devices and consumer electronics. Between these, consumer electronics made more utilization of the WiGig technology in 2018, which is ascribed to the rising requirement for portable consumer electronics that support faster internet services. This is why consumer electronics are predicted to create the largest demand for the technology in the near future as well. The entire WiGig market is driven by two technologies, namely integrated circuits and system on chips (SoC), between which the SoC technology used more in WiGig devices in 2018. This was due to the rising penetration of smartphones in countries including India and China.

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The different industries which make use of WiGig include retail, residential, banking, financial services, and insurance (BFSI), IT & telecom, healthcare, and government. Out of these, the IT & telecom industry is expected to make the most use of WiGig communication in the coming years, while its fastest adoption is predicted to witnessed in the healthcare industry. These solutions are increasingly being used in mission-critical applications in the industry, including telemedicine, cardiac and radiology imaging, and handheld scanners. The expansion of the healthcare industry is further providing opportunities to the companies operating in the domain.

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