Gigabit WiFi Market size is likely to register remarkable growth rate during the forecast period i.e., between 2024-2036.
The growth of the gigabit WiFi market can be attributed to factors such as the rising need for faster data transfer and enhanced internet connectivity, and the increasing number of portable smart device users in the world. It is predicted that the total number of smart phone users will increase by almost 1 billion from 2019 to 2023. Apart from improved speed, wireless gigabit is also capable of offering high-level of accuracy and security, which in turn is expected to boost its demand in the near future. Wide adoption of WiFi hotspot devices across facilities such as enterprises, educational institutes, and hospitals, is also anticipated to drive market growth. In addition to these, growing dependency of companies of online gaming, media/entertainment, research and financial aid domains to offer increased Ethernet bandwidth to customers, is also projected to offer lucrative opportunities for market growth over the forecast period.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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Regional Scope |
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The market is segmented by product type into display devices, network infrastructure devices, networking devices, and consumer electronics, out of which, the segment for network infrastructure devices is anticipated to exhibit significant growth in the global gigabit WiFi market in view of the rise in demand for using 60 GHz frequency band and the escalating need for devices with high data throughput. Furthermore, based on protocol, the 802.11 AC segment is assessed to grow at the highest rate over the forecast period on the back of its ability to provide convenient wireless LAN solutions to users in workspaces. As 802.11 AC internet protocol offers better speed and improved bandwidth coverage with lesser number of dead spots, the growth of this market segment is predicted to witness a hike in the near future.
Our in-depth analysis of the global gigabit WiFi market includes the following segments
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By Technology |
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By Product Type |
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By Application
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By Protocol
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Europe Market Statistics
Regionally, the gigabit WiFi market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa. Europe industry is poised to account for largest revenue share by 2036, attributed to availability of cost-effective wireless gigabit products and growing demand for developing next generation smart devices. Increasing research and development activities in the field of wireless technologies is another crucial factor promoting the growth of the market in this region.
North America Market Analysis
Moreover, North America is evaluated to acquire the largest market share during the forecast period on the back of early technological advancements, wide adoption of WiFi hotspots with higher frequency spectrums and strong presence of leading market players in the region.
Author Credits: Abhishek Verma
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