New York, Oct. 08, 2024 (GLOBE NEWSWIRE) -- Overview:
The Global Gi Fi Technology Market size is expected to reach USD 1.4 billion by 2024 and is further anticipated to reach USD 4.8 billion by 2033 according to Dimension Market Research. The market is anticipated to register a CAGR of 14.9% from 2024 to 2033.
Gi-Fi or gigabit wireless is the world’s first transceiver integrated on a single chip that works under 60GHz on the combs process. It enables wireless transmission of audio and video data at up to 5 gigabits per second, ten times the current higher wireless transfer rate, at one-tenth the cost.
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The US Overview
The Gi Fi Technology Market in the US is projected to reach USD 0.5 billion in 2024 at a compound annual growth rate of 14.0% over its forecast period.
In the US, opportunities for Gi-Fi technology growth grow from advanced smart city infrastructure & increased high-speed connectivity in rural areas. Further, trends such as Gi-Fi’s integration with 5G, the growth of IoT devices needing ultra-fast connections, and growing tech investments are driving market expansion.
Challenges like high deployment costs and compatibility issues with existing standards, which may hinder widespread adoption.
Important Insights
- The Gi Fi Technology Market is expected to grow by USD 3.2 billion by 2033 from 2024 with a CAGR of 14.9%.
- The network infrastructure devices segment is anticipated to lead in 2024 with a major & is anticipated to dominate throughout the forecasted period.
- Integrated Circuit Chips is set to lead the Gi-Fi Technology market in 2024.
- The IT & Telecom sector is anticipated to get the biggest revenue share in 2024 in the Gi-Fi Technology market.
- North America is set to hold a 45.2% share of revenue in the Global Gi-Fi Technology Market in 2024.
Global Gi Fi Technology Market: Trends
- Integration with 5G Networks: Increasing integration of Gi-Fi technology with 5G networks to improve data transfer speeds and connectivity, assisting advanced applications like autonomous driving & smart cities.
- Expansion in IoT Applications: The increase in the adoption of Gi-Fi technology in Internet of Things (IoT) applications, providing high-speed connectivity for smart homes, industrial IoT, and connected devices.
- Development of Enhanced Antennas: Development in antenna technology is improving the performance and range of Gi-Fi systems, making them more viable for broader deployment in various environments.
- Focus on Energy Efficiency: Innovations focused at reducing the power consumption of Gi-Fi devices, improving their sustainability, and making them more attractive for use in mobile and battery-operated applications.
Gi Fi Technology Market: Competitive Landscape
The Gi-Fi technology market is highly competitive, with companies competing to innovate and capture market share by developing advanced, affordable solutions for high-speed wireless communication.
Competition is driven by fast technological development, strategic partnerships, and substantial R&D investments. In addition, players focus on integrating Gi-Fi with existing technologies like 5G to enhance their offerings and sustain a competitive edge.
Some of the major players in the market include Samsung Electric Corp, Intel Corp, Broadcom Corp, Cisco System, NVIDIA, Panasonic Corp, and more.
Some of the prominent market players:
- Samsung Electric Corp
- Intel Corp
- Broadcom Corp
- Cisco System
- NVIDIA
- Panasonic Corp
- Qualcomm Atheros
- NEC Corporation
- AzureWave Technologies
- Marvell Technology Group Ltd
- Other Key Players
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Gi Fi Technology Market Scope
| Report Highlights | Details |
| Market Size (2024) | USD 1.4 Bn |
| Forecast Value (2033) | USD 4.8 Bn |
| CAGR (2024-2033) | 14.9% |
| The US Market Size (2024) | USD 0.5 Bn |
| Leading Region in terms of Revenue Share | North America |
| Percentage of Revenue Share by Leading Region | 45.2% |
| Historical Data | 2018 - 2023 |
| Forecast Data | 2025 - 2033 |
| Base Year | 2023 |
| Estimate Year | 2024 |
| Segments Covered | By Product, By Technology, By Organizational Size, By Application, By End User |
| Regional Coverage | North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA) |
Segment Analysis:
Networking is expected to dominate the Gi-Fi technology market in 2024 by allowing ultra-fast, high-capacity wireless connections critical for modern applications. Gi-Fi improves data transfer, real-time communication, and device connectivity in smart homes, offices, and industrial settings.
It boosts IoT performance, streaming services, and cloud computing, meeting the need for efficient, high-speed wireless solutions. In addition, commercial applications will grow steadily, leveraging Gi-Fi for high-speed data transfer, real-time transactions, and better customer service in retail, hospitality, and office environments, driving market expansion.
Gi Fi Technology Market Segmentation
By Product
- Display Devices
- Network Infrastructure Devices
By Technology
- System on Chip
- Integrated Circuit Chip
By Organizational Size
- Small & Medium Enterprises
- Large Enterprises
By Application
- Networking
- Commercial
- Consumer Electronics
By End User
- BFSI
- IT & Telecom
- Manufacturing
- Automotive
- Government
- Defense Services
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Global Gi Fi Technology Market: Driver
- High-Speed Data Transfer: Gi-Fi technology provides data transfer rates of up to several gigabits per second, which highly enhances the performance of wireless networks & meets the increase in demand for faster internet speeds.
- Increased Device Connectivity: With the expansion of IoT devices, smart homes, and wearables, Gi-Fi technology supports the need for effective and high-capacity wireless connections, supporting easy communication between multiple devices.
- Advancements in 5G Networks: The integration of Gi-Fi technology with emerging 5G networks improves the overall wireless infrastructure, providing low latency & high bandwidth needed for applications like augmented reality, virtual reality, and autonomous vehicles.
- Improved Spectrum Utilization: Gi-Fi operates in the millimeter-wave spectrum, which is less congested in comparison to traditional Wi-Fi frequencies, which improves spectrum efficiency and minimizes interference, leading to more reliable and higher-quality wireless communication.
Global Gi Fi Technology Market: Restraints
- High Cost of Implementation: The advanced infrastructure and components required for Gi-Fi technology can be expensive, limiting widespread adoption, especially in cost-sensitive markets.
- Limited Range: Gi-Fi technology operates in the millimeter-wave spectrum, which has a minimum range and needs a line-of-sight for optimal performance, creating challenges in coverage & deployment.
- Technical Complexity: The development &deployment of Gi-Fi networks include complex technical requirements, like precise alignment and integration with existing networks, which can be a barrier for some organizations.
- Regulatory and Spectrum Issues: Looking into the regulatory environment and securing the necessary spectrum licenses for Gi-Fi technology can be challenging, potentially slowing down its market penetration and growth.
Global Gi Fi Technology Market: Opportunities
- Smart Cities Development: Gi-Fi technology can assist the infrastructure of smart cities by allowing high-speed, reliable communication for traffic management, public safety, and smart utilities.
- Enhanced VR and AR Experiences: The low latency & high data rates of Gi-Fi can highly improve virtual reality (VR) and augmented reality (AR) applications, providing smoother and more immersive experiences.
- Industrial Automation: Gi-Fi technology can drive development in industrial automation by supporting real-time data transfer & communication between machines, causing better efficiency & productivity in manufacturing processes.
- Healthcare Innovations: Gi-Fi can support the development of advanced telemedicine solutions & remote patient monitoring systems, enhancing healthcare delivery and access, mainly in remote or underserved areas.
Regional Analysis
North America is expected to dominate the Gi-Fi technology market with a 45.2% share in 2024, driven by its developed infrastructure, high need for cutting-edge wireless solutions, and a strong tech ecosystem of major firms and research institutions, as it focuses on high-speed internet, smart devices, and IoT applications support market growth & influences global trends.
Further, the Asia Pacific is expected to grow fastest due to its dynamic tech landscape and growing demand for high-speed connectivity, making it a key player in advancing ultra-fast wireless solutions.
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By Region
North America
- The U.S.
- Canada
Europe
- Germany
- The U.K.
- France
- Italy
- Russia
- Spain
- Benelux
- Nordic
- Rest of Europe
Asia-Pacific
- China
- Japan
- South Korea
- India
- ANZ
- ASEAN
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Rest of Latin America
Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Egypt
- Rest of MEA
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Recent Developments in the Gi Fi Technology Market
- December 2023: Google unveiled that it would be rolling out its 20-gig internet service offering to Fiber customers in select markets, with installations starting in the first quarter of 2024. In addition, the latest 20Gbps internet service, which comes through Google’s GFiber Labs, would cost customers USD 250 per month.
- September 2023: ASK4, announced that GI Partners, a leading investor in critical data infrastructure businesses, signed a definite agreement to acquire the company from Bowmark Capital, with the help of its current investment partners, Bowmark Capital.
- July 2023: Bharti Airtel's B2B division, Airtel Business, became the first ICT service provider in India to connect over 20 million devices via IoT solutions, highlighting partnerships with Secure Meters and TPWODL.
About Dimension Market Research (DMR):
Dimension Market Research (DMR) is a market research and consulting firm based in India & US, with its headquarters located in the USA (New York). The company believes in providing the best and most valuable data to its customers using the best resources analysts into work, to create unmatchable insights into the industries, and markets while offering in-depth results of over 30 industries, and all major regions across the world.
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