The Europe WiGig market size is expected to expand at significant CAGR during forecast period 2021–2028. Growth of the market is attributed to increasing demand for high-speed connectivity, rising internet activity, increasing number of video streaming, and rapidly emerging economies.
The 60 GHz wireless network systems refer to a WiGig, which is also called as wi-fi at 60 GHz. The 802.11ay and the IEEE 802.11ad standards are fitted in the WiGig. Devices can communicate at multi gigabit speeds without using cables cause of WiGig specifications. For smartphones and home theater equipment the WiGig is designed for cable replacement using the unlicensed 60 GHz band. In noisy environment the WiGig throttles down to wi-fi speed but also give more bandwidth than wi-fi and provides 7 Gbps data rate. It can transmit up to 60 feet when there is no obstruction in the signal.
The covid-19 outbreak was not able to affect the WiGig enterprises. The Europe WiGig market players faced several problems varying from getting component require to develop home appliances and providing end products to attracting workers from quarantines. The coronavirus-driven confinement places a brake on the element and WiGig production, which increased product costs and reduced the market demand. However, the WiGig devices trade is returning to traditional and witnessing the steady increasing energy demand, particularly from the commercial sector.
Market Trends, Drivers, Restraints, and Opportunities
- Rising adoption of high-resolution videos is projected to boost the market in the coming years.
- Technological advancement in the communication sectors is major factor fueling the market during the forecast period.
- Increasing chipset manufacturing cost is anticipated to hamper the market growth.
- High maintenance cost is projected to hamper the market growth in the coming years.
- R&D investment and technological advancement in WiGig is projected to create lucrative opportunities for the market players.
Key Players
- HP Development Company LP
- Dell Technologies Inc.
- Panasonic Corp.
- Sivers Ima Holding AB
- Blu Wireless Technology Ltd.
- Intel Corp.
- Fujikura Ltd
- Qualcomm Technologies Inc.
- Broadcom Inc.
- Cisco Systems Inc.
- Lenovo Group Ltd.
Competitive Landscape
Key players competing in the Europe WiGig market include HP Development Company LP; Dell Technologies Inc.; Panasonic Corp.; Sivers Ima Holding AB; Blu Wireless Technology Ltd.; Intel Corp.; Fujikura Ltd; Qualcomm Technologies Inc.; Broadcom Inc.; Cisco Systems Inc.; and Lenovo Group Ltd.
Some of these players are using several market strategies such as acquisitions, merger, collaborations, partnerships, capacity expansion, and product launches to enhance their market shares and raise their production line of the business in the coming years.
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