The Wi-Fi chipset market was valued at USD 19.7 billion in 2020 and is estimated to reach USD 25.2 billion by 2026; it is anticipated to grow at a CAGR of 4.2% during the forecast period (2021–2026).
Growing number of public Wi-Fi hotspots, adoption of Internet
of Things (IoT), growth of Wi-Fi in enterprise and business, rising need for
faster data transfer and significant increase in the internet penetration rate
are significant driving factors in the Wi-Fi chipset market during the forecast
period. The growth of the Wi-Fi chipset market would also largely depend on the
success of new Wi-Fi technologies, including IEEE 802.11ad (WiGig), and
802.11ax standards. However, several factors, such as the decline in the
shipment of tablets and PCs over the last few years and long standardization
and certification time, are hindering the growth of the Wi-Fi chipset market.
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Market Dynamics
Growing number of public Wi-Fi hotspots and adoption of IoT
The
ownership of connected devices across the world is expected to grow at a
significantly high rate during the forecast period and is attributed to the
growth of IoT. The enormous growth of connected devices would require higher
data throughput and bandwidth, and broader coverage, which is likely to
increase congestion over the mobile network during the forecast period. To
tackle this situation and to make a positive impact on the dynamic telecom
environment, the adoption of Wi-Fi hotspot solutions by communication service
providers and network operators is expected to rise significantly in the coming
years.
Expanding use of Wi-Fi in enterprises and businesses
Enterprises
and businesses of all sizes, across segments and verticals, are increasingly
shifting toward a Wi-Fi-based customer engagement model. Wi-Fi hotspots at
coffee shops, airports, hotels, buses, trains, sports stadiums, and retail
stores are used for customer engagement and customer relationship management.
The commercial complex that offers free Wi-Fi connectivity is gaining high
popularity among consumers.
With
the enormous growth of connected devices, consumers are focusing on the value
of information. A large number of consumers have numerous access points for
information and are increasingly relying on mobile devices and the Internet.
Retailers are becoming aware of the value of assisting consumers in gathering
information and generating customer relationship management systems through
Facebook pages, e-mails, and location-based marketing. Moreover, in-store Wi-Fi
is becoming more popular among retailers to connect with consumers and
facilitate their purchase decision. Mobile devices have changed the way consumers
shop in-store. Digital consumers use their mobile devices to peruse options and
reviews, check a retailer’s product availability, access interactive store
maps, and view available discounts and loyalty offers as well as make online
purchases.
Fall in shipments of PCs and tablets
Despite
the growth of the overall consumer electronics segment the shipment of PCs and
tablets is expected to witness negligible growth, affected largely by the
improved performance of phablets and falling prices of smartphones. The
low-cost manufacturing of smartphones in China has played an important role in
the increased shipment of smartphones in this region. Cost-conscious customers
in developing countries of Asia Pacific prefer phablets over costly tablets.
Moreover, the replacement cycle of tablets and PCs is higher compared to
smartphones. This is leading to the decline in the growth of the PC and tablet
market.
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