Wireless Gigabit Market Overview
Increasing demand for high-speed internet, growing bring-your-own-device (BYOD) trend in enterprises, and rising spending on IT infrastructure are some of the key factors driving the growth of the wireless gigabit market across the globe.
Wireless gigabit is a wireless communication technology that supports minimum one gigabit per second data transfer over the 60 GHz frequency band. Based on type, the wireless gigabit market has been bifurcated into 802.11ac and 802.11ad, wherein the 802.11ac category held the larger market share in 2018, owing to its higher demand driven by its increased throughput at frequencies under 2.4 GHz and 5 GHz bands. However, due to higher data throughput and lower latency in the 60 GHz band, the 802.11ad category is expected to witness higher growth during the forecast period 2019–2024.
On the basis of product type, the global wireless gigabit market has been categorized into consumer electronics, networking devices, and others. Among these, the consumer electronics category held the largest share in the market in 2018 and is further expected to dominate the market over the forecast period. With the rise in consumption of digital content requiring higher bandwidth, the consumer demand for strong internet connectivity to play or share content in computers, laptops, TVs, and smartphones is increasing at a substantial pace. As the wireless gigabit technology offers ultra-fast connectivity, the technology is witnessing high deployment in consumer electronics.
Based on end user, the market has been categorized into banking, financial services, & insurance (BFSI), IT & telecom, government, retail, healthcare, residential, and others. Among these, the healthcare category is expected to witness the fastest growth in the wireless gigabit market during the forecast period. This can be attributed to the increasing use of high-speed internet for mission-critical applications, including cardiac and radiology imaging, electronic medical record tracking, and telemedicine.
Globally, the wireless gigabit market is expected to witness the fastest growth in APAC during the forecast period. This can be attributed to the increasing internet penetration and accelerated IT investments by enterprises for improved operations in developing countries, primarily China and India. Furthermore, such countries are increasingly embracing digitalization and introducing various initiatives to develop IT infrastructure, which would further support the growth of the market in the near future.
Wireless Gigabit Market Dynamics
The growing adoption of the BYOD policy in enterprises is driving the wireless gigabit market globally. With the growing demand for mobility solutions at the workplace, numerous enterprises have started implementing the BYOD policy. The policy enables employees to carry their own devices, such as laptops, smartphones, and tablets, to the workplace and use them with enterprise mobility applications to easily access corporate data and networks. Enterprises can reap benefits by implementing the policy, as it helps improve productivity and reduce IT setup costs.
Furthermore, the rise in the usage of cloud-based apps is supporting the adoption of BYOD, as cloud-based apps can be accessed from anywhere, which further enables employees to access corporate resources anytime, irrespective of their location. The policy is resulting in more wireless endpoints driven by the demand for high-speed data transfer connection, which, in turn, is fueling the growth of the wireless gigabit market across the globe.
Wireless Gigabit Market Competitive Landscape
Due to the presence of numerous market players, the wireless gigabit market is highly competitive in nature. Thus, to strengthen their forhold, market players are focusing on growth strategies such as mergers and acquisitions, partnerships, and product launches. For instance, in November 2018, Qualcomm Inc. launched QCA64x8 (fixed) and QCA64x1 (mobile) chipsets that support a speed of 10 Gbps and sub-millisecond latency. These chipsets use 60 GHz millimeter wave hardware to deliver more speed as compared to the 2.4 GHz and 5 GHz radio bands found in common Wi-Fi routers.
Furthermore, in September 2017, Intel Corporation launched Tri-Band Wireless-AC 18260, which delivers high-speed 60 GHz WiGig (802.11ad) wireless docking connectivity for mobile client devices (2-in-1 tablets and laptops) with up to 4.7 Gbps of bidirectional throughput. The device supports Intel-only features, including Intel wireless gigabit docking, Intel wireless display, and Intel vPro technology.
Some of the other key players operating in the global wireless gigabit market are NEC Corporation, Broadcom Inc., Cisco Systems Inc, NVIDIA Corporation, MediaTek Group, AzureWave Technologies, Panasonic Corporation, Samsung Electric Co. Ltd., and Marvell Technology Group Ltd. Among all players, Qualcomm Inc. and Broadcom Inc. cumulatively held a significant share in the market in 2018 and are actively focusing on transitioning toward 802.11ad from 802.11ac to support more users.