Dublin, March 20, 2024 (GLOBE NEWSWIRE) -- The "WiGig Market - Forecasts from 2024 to 2029" report has been added to ResearchAndMarkets.com's offering.
This comprehensive research on the WiGig market forecasts a robust growth trajectory, as indicated by an estimated compound annual growth rate (CAGR) of 18.35% during the period from 2024 to 2029. The study encapsulates key trends, drivers, and opportunities that are poised to shape the market landscape in the upcoming years.
The demand for high-speed, wireless communication is a pivotal factor bolstering the growth of the WiGig market. WiGig, or IEEE 802.11ad, touts breathtaking data transmission rates of up to 7 Gbit/s. This unprecedented speed is critical for a myriad of applications, ranging from high-quality video streaming to seamless integration in Internet of Things (IoT) ecosystems.
Key Growth Drivers:
- Technological Advancements: As communication technologies evolve, so does the hunger for faster data transmission. WiGig stands at the forefront of this demand with capabilities greatly surpassing traditional Wi-Fi standards.
- Surge in High-Speed Internet Requirements: The digital era sees an ever-climbing number of connected devices. WiGig's promise of up to 7Gbps speeds makes it an instrumental player in accommodating this growth.
- Video Streaming Demands: With the escalating consumption of video content online, WiGig is looking to transform the landscape of high-quality video streaming.
- Virtual and Augmented Reality: High-speed wireless connectivity is critical for the seamless operation of VR and AR technologies, drawing on WiGig’s robust capabilities.
- Enterprise Applications: The corporate world’s requirement for rapid wireless data exchange is catered to by WiGig's efficient infrastructure, easing operations such as video conferencing and data sharing.
Technological Innovations from Industry Leaders
The market boasts of groundbreaking product offerings like Qualcomm Technologies’ QCA9500 chipset, furnishing blistering speeds and low latency, alongside Intel's WiGig LDPC Decoder, which greatly exceeds current wireless standards with its 7 Gbit/s data rates. Such innovations are set to enrich user experiences and drive market growth.
Soaring System-on-Chip (SoC) Adoption
The SoC segment within the WiGig market is witnessing considerable growth, given its capacity to enhance wireless device performance while minimizing power consumption. The amalgamation of multiple components onto a single chip enhances the efficiency of wireless devices and is a factor contributing to the adoption of SoCs.
Asia Pacific's Market Dominance
The Asia Pacific region stands as a stronghold in the WiGig market, with burgeoning internet accessibility needs, amplified IoT device proliferation, and advancements in wireless technologies playing significant roles in this dominance.
Key Market Segmentation
The market study delves into analysis across key segments, including frequency standards (802.11ay and 802.11ad), technology frameworks (SoC, IC), applications (Networking Infrastructure Devices, Display Devices), and end-user industries (IT & Telecom, Healthcare, BFSI, Automotive, Retail, Media & Entertainment, among others), as well as geographical regions encompassing North America, Europe, Asia Pacific, Middle East and Africa, and South America.
Companies Mentioned
- Blu Wireless Technologies
- Silicon Image Inc.
- Broadcom Inc.
- Panasonic Corp.
- NVIDIA Corp.
- Intel Corp.
- Cisco Systems Inc.
- Qualcomm Inc.
For more information about this report visit https://www.researchandmarkets.com/r/p83a0x
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