WiGig or wireless gigabit is one of the most promising technologies that provide high speed wireless data sharing at excellent, multi gigabit speed. Along with the impressive speed, the industry also has several other advantages like swift data transfer, cable free environment and reduced costs. All these features are expected to drive the global wireless gigabit market. The industry is aiming at steady growth, thanks to rising demand and constantly evolving technologies. Increasing demand from developing regions of the world is also expected to have positive influence on the industry. as a result of all these factors, the WiGig market is poised to maintain healthy rise in terms of demand and revenue.
Segmentation in WiGig Market
In order to understand the prevailing market trends, challenges, opportunities and progress of the existing businesses, researchers segments the wireless gigabit market into different sections. The industry is largely categorized on the basis of the WiGig enabled products, their applications and their demand across different geographic regions. Wireless gigabit enabled products include communication and computing devices (smartphones, docking stations, tablets and PCs), network infrastructure devices and consumer electronic devices (digital cameras, camcorders TVs and peripherals). Applications of these devices range from wireless display, video streaming, internet access, data sharing, wireless docking and backup via synchronization. Geographically, the market is divided into North America, Latin America, Middle East Africa, Asia Pacific and Europe.
Market Drivers and Forecasting Reports
Advancements in home entertainment and computing devices are indirectly driving the wireless gigabit market. Consumers have greater demand for digital entertainment, which is driving innovation and technological advancements in different supporting industries. Apart from that, major drivers for the industry include constantly evolving technology, innovation in terms of applications and products enabled with wireless gigabit technology and rapid adoption rate amongst customers. Along with developed regions like North America and Europe, WiGig technologies are gaining popularity in developing regions like Asia pacific and Latin America. These factors are positively influencing the global industry. As a result of all these factors, the wireless gigabit industry is anticipated to grow at a CAGR of over 157% from 2013 to 2018.
At the estimated exceptional compound annual growth rate, wireless gigabit market is expected to become worth 4.8 billion by the end of 2018. In 2013, the industry was worth 42.75 million. Communications and computation devices segment is expected to witness stronger trends in terms of adoption of these technologies.