Wi-Fi 6E Solutions to Boost Wi-Fi Chipset Industry Growth
The global Wi-Fi Chipset industry size will witness an appreciable gain in the wake of robust demand for increased connectivity and high-performance network, according to the “Wi-Fi Chipset Industry Data Book, 2023 – 2030,” published by Grand View Research. Demand for super-fast speed and exponential capacity to keep up with the current trend will bring a paradigm shift in the ecosystem. Moreover, technological advancements in smartphones, automotive, wireless networks and PCs will augur innovations in the market. Wi-Fi solutions, including Wi-Fi 7, can provide immersive connectivity, and reliable and responsive experiences amidst the trend for streaming the latest 8K movie, video conferencing and gaming.
Wi-Fi 7 has garnered immense popularity in light of low latency, tremendous wireless internet speeds and outstanding throughput gains. The bespoke solution has multilink options that can minimize latency and propel throughput. Wi-Fi 7 has become sought-after in a bandwidth-intensive environment for increased network capacity and lower-latency XR designed for advanced video conferencing, gaming, and casting virtual work. In December 2022, Qualcomm introduced new Wi-Fi 7-capable chipsets that can render over 20 Gbps of total system capacity. It will provide maximum connectivity to high-performing devices with a peak speed of up to 5.8 Gbps to a single connected device. The Wi-Fi 7 market size was valued at USD 0.22 billion in 2021 and it is poised to witness a triple-digit CAGR of 106.2% from 2022 to 2030.
Access the Global Wi-Fi Chipset Industry Data Book, 2022 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competition benchmarking, macro-environmental analyses, and regulatory & technological framework studies
Soaring demand to connect more devices to the network has spurred the penetration of Wi-Fi 6E across business verticals. The technology extends Wi-Fi 6 into the 6GHz spectrum, bolstering speeds, offering more security to the network and lower latency. For instance, the network has gained ground in healthcare to transfer large data files, including MRIs or performing telehealth appointments without interruptions. Moreover, the retail sector can cash in on the technology by streamlining point-of-sale connections, thereby boosting brand position. These dynamics substantiate the Wi-Fi 6E market size of USD 2.37 billion in 2021 and its estimated CAGR of 27% during the forecast period.
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Stakeholders are likely to focus on dynamics that are slated to influence the RoI. Some factors are elucidated below:
- IoT devices on the 6GHz spectrum have the innate ability to offer important real-time updates from non-business critical communication.
- Government agencies are likely to seek the technology for added security as they prioritize various technologies to underpin the digital business.
- Europe is likely to account for a considerable share of the global market due to the growing penetration of smartphones, laptops and tablets. Besides, the expanding footfall of hospitality, healthcare, and retail sectors across the U.K., France, Italy and Spain has boded well for regional growth.
North America Wi-Fi chipset industry share will receive impetus in light of the surging Wi-Fi penetration across airports, buses, sports stadiums, trains and malls. In-store Wi-Fi has emerged as a robust business strategy to boost in-store engagement in the retail sector. Besides, the rising footfall of smart home devices, in-vehicle infotainment and expanding penetration of Wi-Fi 6E devices have solidified the position of the U.S. and Canada in the global landscape. Bullish government policies have underscored the North America market. In April 2020, the U.S. Federal Communications Commission opened the 6 GHz spectrum, encouraging leading players to bolster their portfolios.
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Incumbent companies have emphasized organic and inorganic strategies, including technology advancements, R&D activities, innovation, collaboration and mergers & acquisitions. For instance, in May 2022, Cisco announced its first outdoor Wi-Fi 6E-ready access point for industrial sites. The company expects wireless connectivity to complement automation, AGVs and autonomous robots.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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