It has been estimated that almost 97.3% of businesses utilize the Internet for various purposes, such as marketing, communication, and sales. Researchers are coming up with innovative ideas to enhance the speed of internet use. The recent innovation of Gigabit WiFi is one such example of an impeccable high-speed solution. The market for Gigabit WiFi is expanding and holds a promising future. In this article, we will delve deep into various aspects of the market and its utilization in plenty of verticals.
Gigabit WiFi in Gaming
It has been estimated that the number of users watching live streaming of games is projected to reach 1.9 billion users by the year 2030. People are willing to adopt internet services that are serving the purpose. If someone is trying to play or stream multiplayer games, gigabit internet is an outstanding option. It has been estimated that a good upload speed for gaming is considered to be 3 Mbps and a download speed is over 5 Mbps. One of the prominent benefits of gigabit WiFi is low latency, making it a flawless tool to play games.
Gigabit WiFi for Networking in Offices
Gigabit WiFi has become the foundation of the digital workplace and a source for providing stable wireless solutions. It allows the mobile user to roam around while accessing business applications and data. Let us discuss some of the benefits of including Gigabit WiFi in the networking:
- Enhanced mobility: These systems allow mobile users to utilize real-time information. Workers become able to wander around in the company’s space. This raises the productivity and teamwork of the company.
- Simplicity and installation speed: Installing a Gigabit WiFi system eradicate cables. These cables are tiresome to set up and can impose safety risks.
- Wider and expanded reach of the network: The wireless network can be taken to the nook and corner in the office premises which are not accessible by cables and wires.
- Less cost of ownership: Wireless networking might be costly during the installation but in the due course of time it proves to be less costly than wired connections.
- Increased scalability: Gigabit WiFi systems can be particularly configured to meet the requirements of specific applications.
Prominent Trends in the Market
1- Nascent yet Promising Stage: The market is currently at the beginning stage of development and showing promising growth aspects. As there will be a huge demand for wireless connectivity the market is going to flourish.
2- Integration of IoT: It has been estimated that there are almost 17 billion connected IoT devices. Without reliable connectivity, the data from devices and sensors might end up being delayed. Gigabit WiFi is proven to be efficacious to perform such functions.
3- Enhanced Security Features: It has been estimated that nearly 4100 new cyber-attacks occur every day. Gigabit WiFi provides secured and encrypted communication channels.
4- Multi-Gigabit Speeds: Wireless gigabit technology is anticipated to offer 10 times faster than current WiFi and proving to be game changer in terms of data transmission.
Market Analysis
The market is projected to be valued at USD 24 million in the year 2023 exhibiting a CAGR of 21% in the coming decade. It has been estimated that the market will gather USD 175 million by 2033. Some of the growth-propelling factors for the market are:
- Rising demand for high-speed wireless connectivity
- Surge of data-intensive application
- Growth in the adoption of WiFi 6
- Adoption of IoT devices and smart city technologies
However, factors such as compatibility challenges, signal interference, huge power consumption, etc. are some of the growth hindering factors for the market. Overcoming the challenges various companies are excelling in the domain. Some of examples of such companies are Intel Corporation, Qualcomm Technologies Inc., Sivers Semiconductors N.V, Blu Wireless, Samsung Electronics Co., Ltd, Infineon Technologies AG, ASUSTeK Computer Inc, etc.
The wireless gigabit industry in the US is projected to secure a prominent share of USD 50 million in the global market. The growth of the market can be attributed to the rising number of companies embracing diverse wireless communication standards. Also, there is a huge presence of notable semiconductor companies in the region.
Conclusion
It has been estimated that the market is offering lucrative growth opportunities. Various market players are willing to invest in the burgeoning domain of growth. However, it is crucial for the market players whether they are entering or have been working, to understand the intricacies of the market. Knowing these factors, market players would be able to make judicious decisions for their businesses. An impeccable way to conduct market research is to avail an all-encompassing market research report. These market research reports consist of factors such as regional growth analysis, market constraints, growth drivers, etc.
Source: https://www.researchnester.com/reports/gigabit-wifi-market/54
