- Based on the product category, the smartphone segment will lead the market with more than 60 per cent of the market share.
- High information utilization and downloading of documents on these systems are the other significant growth drivers for the segment.
- North America dominates the WiFi Chipset market globally.
According to a new market research report published by Credence Research “ WiFi Chipset Market (By IEEE Standards (802.11ay, 802.11ax, 802.11ac Wave 2), By Band(Dual Band, Tri-Band), MIMO Configuration (SU-MIMO, MU-MIMO), Product Category (Smartphones, Tablets, PCs)) – Growth, Future Prospects and Competitive Analysis, 2019 – 2027”, the overall WiFi Chipset market worldwide was valued at $16.34 billion in 2018 and is set to grow with a CAGR of 5.14% during the forecast period.
The growing penetration of smartphones and mobile devices worldwide is driving the development of the WiFi Chipset industry worldwide. The worldwide Wi-Fi hotspot industry is increasing at a fast rate and is valued at more than $1.5 billion in 2018, which, in turn, is boosting the Wi-Fi chipset market. Wireless chipset is basically an inner hardware element that allows the device to interact with another wireless device.
Growing use of the Internet of Things (IOT) makes it possible for these WiFi chipsets to be incorporated into household appliances such as washing machines, televisions, air conditioners and others. Technological advances in the software and microelectronic sectors are anticipated to drive the market during the forecast period. On the basis of the above variables, the WiFi Chipset market is expected to demonstrate steady growth throughout the forecast period.
Based on the product category, the smartphone segment will lead the market with more than 60 per cent of the market share globally. Growing internet penetration and increasing use of smartphones for commercial, as well as mobile apps, is driving the development of the segment. WiFi chipsets have become an inner smartphone element that helps these devices boost the pace of internet and information transfer.
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High information utilization and downloading of documents on these systems are the other significant growth drivers for the segment. Affordable smartphone prices, along with growing technological advances in these systems, help the smartphone segment to continue to lead the market during the forecast period.
Based on geography, North America operates the WiFi Chipset market globally, with more than 30% of the market share followed. North America is a leader owing to its inclination to adopt sophisticated consumer electronics goods such as smartphones, tablets and other smart devices. Asia Pacific is anticipated to develop with the greatest CAGR due to increasing internet penetration and technologically developed nations such as Singapore, Australia, Japan and others.
Due to the fast rise in the production of smart devices in the region, the demand for WiFi chipsets in the region is on the rise. As a consequence of these variables, we expect the Asia-Pacific region to develop at a fast rate throughout the forecast period.
Major market players include Qualcomm Technologies, Inc., Intel Corporation, Texas Instruments, Inc., STMicroelectronics N.V., Mediatek, Inc., Samsung Electronics Co., Ltd., Marvell Technology Group Ltd., Cypress Semiconductor Corporation, Broadcom Inc., Intel Corporation, Realtek Semiconductor Corp., Texas Instruments Incorporate, Quantenna Communications Inc., Espressif Inc. and others.