(MENAFN- GlobeNewsWire - Nasdaq) The growing demand for accelerated wireless connectivity is boosting the wireless gigabit market.New York, USA, Dec. 02, 2024 (GLOBE NEWSWIRE) -- market Overview:
The global wireless gigabit market size is projected to grow from USD 64.88 million in 2024 to USD 274.60 million by 2034, at a CAGR of 15.5%, according to a new report by Polaris Market Research.
Market Introduction:
Gigabit wireless is a contemporary wireless transmission technology homogenous to Wi-Fi, which utilizes millimeter waves for data interaction. It comprises IEEE 802.11ad standard, functions at 60 GHz frequency scope, and has the potential of data rate up to 5-7 GB/Sec. Wireless technology utilizes IEEE standard and is also acknowledged as 60 GHz Wi-Fi. Homogenous to conventional Wi-Fi networks, the extremity of a gigabit wireless network will be linked to the accelerated network connection. Unlicensed frequency spectrum at 60 GHz is utilized for interactions between gadgets and routers. The wireless router will convey data at millimeter waves utilizing an elevated frequency antenna module consolidated to the router.
Key Insights from Report:
The market for wireless gigabit is significantly shaped by it providing data rates up to 7 Gbps which is notably speedier than conventional Wi-Fi technologies. The wireless gigabit market segmentation is mainly based on offering, protocol, channel, product, end user, and region. Based on the offering, the module segment is expected to experience the highest CAGR during the forecast period. By region, the report provides market insights into Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa.
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Wireless Gigabit Market Scope:
| Report Attributes | Details |
| Market size value in 2024 | USD 64.88 million |
| Market size value in 2025 | USD 74.89 million |
| Revenue Forecast in 2034 | USD 2764.60 million |
| CAGR | 15.5% for 2025 to 2034 |
| Base year | 2024 |
| Historical data | 2020-2023 |
| Forecast period | 2025-2034 |
Market's Growth Drivers:
Growing Demand for IoT-Linked Gadgets : The demand for IoT-linked gadgets is surging globally. According to issued data, the aggregate of IoT linked gadgets is figured to grow by 2.5 times between 2021 and 2030. IoT gadgets such as smart home instruments, sensors, cameras, and adorned tech create extensive quantities of data that require to be imparted over the network. Wireless gigabit technology, with its elevated data conveyance rates, assists in handling the influx of data productively. Thus, the growing acquisition of IoT-linked devices contributes to the wireless gigabit market growth.
Surge in 5G Networks : 5G networks guide accelerated, low latency connectivity to mobile gadgets. This move surges user anticipation for accelerated wireless connectivity covering all gadgets not limited to those on 5G networks. To complement the presentation and occurrence of 5G, users and businesses look for wireless gigabit solutions for their local networks sanctioning steadiness in momentum and compassion covering all gadgets and applications.
Rise in Smart Cities : Smart cities depend on a massive framework of linked gadgets and sensors to handle framework, public services, and benefits productively. These gadgets, spanning from traffic cameras and ecological sensors to smart streetlights and public Wi-Fi hotspots, create an extensive aggregate of data. Wireless gigabit technology offers accelerated connectivity needed to manage this data traffic productively. Thus, the augmentation of smart cities pushes the market growth.
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List of Wireless Gigabit Market Key Players:
Peraso Technologies Inc. Tensorcom, Inc. STMicroelectronics Sivers Semiconductors AB Qualcomm Technologies, Inc. Blu Wireless Fujikura Ltd Tachyon Networks Inc. Pharrowtech Renesas Electronics Corporation
Geographical Analysis:
North America accounted for the largest wireless gigabit market share. This is due to a progressive technological framework and elevated consumer demand for strong and dependable connectivity. The extensive acquisition of smart gadgets, accumulation of high-resolution streaming services, and the development of remote work have lent a hand in North America's presiding position.
Asia Pacific is also expected to grow at the highest CAGR during the forecast period. This is due to the speedy urbanization, augmenting middle-class population, and notable funding in the technology framework. Nations such as China and India are augmenting this growth due to their extensive populations and growing acquisition of smart devices and fast-moving internet services. The big tech industry in the Asia Pacific, with a concentration on invention and extensive production of electronics, reinforces the extensive arrangement of wireless gigabit.
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Market Segmentation:
By Offering Outlook
By Protocol Outlook
IEEE 802.11 ad IEEE 802.11 ay
By Channel Outlook
57–59 GHz 59–61 GHz 61–63 GHz 63–65 GHz Others
By Product Outlook
Display Devices Network Infrastructure Devices
By End User Outlook
Telecom Automotive Consumer Electronics Railway Others
By Region Outlook
North America Europe Germany France UK Italy Spain Netherlands Russia Rest of Europe
Asia Pacific China Japan India Malaysia South Korea Indonesia Australia Rest of Asia Pacific
Middle East & Africa Saudi Arabia UAE Israel South Africa Rest of the Middle East & Africa
Latin America Mexico Brazil Argentina Rest of Latin America
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About Polaris Market Research & Consulting, Inc:
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR's clientele spread across different enterprises. We at Polaris are obliged to serve PMR's diverse customer base present across the industries of healthcare, technology, semiconductors, and chemicals among various other industries present around the world. We strive to provide PMR's customers with updated information on innovative technologies, high-growth markets, emerging business environments, and the latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced, and extremely qualified team of experts comprising SMEs, analysts, and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR's customers.
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