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 US$ 16.34 Bn in 2018 and is set to grow with a CAGR of 5.14% during the forecast period.
Growing penetration of smartphones and mobile devices worldwide are driving the growth for WiFi Chipset market globally. The global Wi-Fi hotspot market is growing with a rapid pace and in 2018 it is valued at more than US$ 1.5 Bn, which in turn is giving boost to the WiFi Chipset market. Wireless chipset is basically an internal hardware component which permits the device to communicate with another wireless-enabled device. Growing application of internet of things (IOT) is giving benefit to these WiFi Chipsets to incorporate in home appliances such as washing machines, televisions, air-conditioners and others. Technological advancements in software and microelectronic sector are expected to drive the market during the forecast period. On account of aforementioned factors, WiFi Chipset market to show steady growth throughout the forecast period.
Based on product category, smartphones segment will lead the market with more than 60% of the market share worldwide. Growing internet penetration and rising smartphone usage for business, as well as personal applications, is driving the growth for the segment. WiFi Chipsets became an internal component of smartphones which helps these devices to increase internet and data transfer speed. High data usage along with downloading of files on these devices are the other major growth drivers for the segment. Affordable price of smartphones along with increasing technological advancements in these devices is helping the smartphone segment to continue leading the market during the forecast period.
Based on geography, North America govern the WiFi Chipset market worldwide with more than 30% of the market share followed. North America is the leader due to inclination towards adopting technical advanced consumer electronics products such as smartphones, tablets and other smart devices. Asia Pacific is expected to grow with the highest CAGR owing to rising internet penetration and technologically advanced countries such as Singapore, Australia, Japan and others. On account of rapid increase in smart devices manufacturing in the region, the demand for WiFi Chipsets shall be on growing pace in the region. As a result of these factors, we are expecting the Asia Pacific region to grow with a rapid pace throughout the forecast period.
Major market players are 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.
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