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Wi-Fi Chipsets: Powering the Next Wave of Connectivity
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According to The Business Research Company's, The wi-fi chipset market size has grown strongly in recent years. It will grow from $22.12 billion in 2023 to $23.57 billion in 2024 at a compound annual growth rate (CAGR) of 6.5%. The growth in the historic period can be attributed to proliferation of wireless devices, tech standard advancements, rise of wireless networking, smart home and iot growth.
The wi-fi chipset market size is expected to see strong growth in the next few years. It will grow to $29.41 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%. The growth in the forecast period can be attributed to wi-fi 6 and wi-fi 6e adoption, 5g integration and coexistence, iot and industry 4.0 expansion, remote work and distance learning, smart cities and public wi-fi. Major trends in the forecast period include 5g offloading and integration, improved beamforming and mimo, wi-fi 7 standard development, ai-driven network optimization, increased focus on security.
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Market Drivers and Trends:
Increased adoption of smartphones is expected to propel the growth of the Wi-Fi chipset market going forward. A smartphone is a portable electronic gadget connecting to a cellular network. Wi-Fi chipsets in smartphones are utilized to enable wireless connectivity and provide various functionalities. Wi-Fi chipsets are integrated into smartphones to offer internet connectivity, faster data transfer, local area networking, and data offloading. For instance, in February 2023, according to Uswitch Limited, a UK-based financial conduct authority, beginning in 2022, there were 71.8 million smartphones in the UK, a 3.8% (or around 2.6 million) increase over 2021. Further, by 2025, there will be 68.3 million people living in the UK, of whom 95% (or about 65 million people) will have smartphones. Therefore, the increased adoption of smartphones is driving the growth of Wi-Fi chipset market.
Technological advancements in chipset are the key trend gaining popularity in Wi-Fi chipset markets. Major companies operating in the Wi-Fi chipset market are developing technical products to sustain their position in the market. For instance, in May 2022, MediaTek Inc., a Taiwan-based semiconductor company, launched two Wi-Fi 7 chipsets called the Filogic 880 and Filogic 380. These innovative chipsets are designed for high-bandwidth applications in the operator, retail, enterprise, and consumer electronics markets. The Filogic 880 is designed for high-bandwidth applications such as home networking, enterprise networks, and retail Wi-Fi. It can support up to 36 Gbps of aggregate throughput, twice as fast as Wi-Fi 6. The Filogic 380 is designed for client devices such as smartphones, laptops, and tablets. It can support up to 9.6 Gbps of aggregate throughput, 2.7 times faster than Wi-Fi 6. Additionally, it includes such features as 6nm process technology and support for crucial Wi-Fi 7 technologies, including 4096-QAM, 320 MHz, MRU, and MLO. Up to 36 Gbps of aggregate throughput is available for the Filogic 880, and it benefits from faster speeds, better performance, and more reliable connections.
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Major Key Players of the Market:
Dell Technologies Inc., Intel Corporation, Cisco Systems Inc., Qualcomm Technologies Inc., Broadcom Inc., Hewlett Packard Enterprise Company, Texas Instruments Incorporated, MediaTek Inc., ASUS, STMicroelectronics NV, Infineon Technologies AG, NXP Semiconductors NV, CommScope Holding Co., On Semiconductor Co Inc., Microchip Technology Inc., Skyworks Solutions Inc., Realtek Semiconductor Corp., Quectel Wireless Solutions Co. Ltd., Extreme Networks Inc., Netgear Inc., Fibocom Wireless Inc., D-Link Systems Inc., Espressif Systems, Montage Technology Co. Ltd., Kxcomtech, Celeno Communications Ltd.
Wi-Fi Chipset Market 2024 Key Insights:
• The wi-fi chipset market size is expected to see strong growth in the next few years. It will grow to $29.41 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%.
• Increased Smartphone Adoption Fuels Wi-Fi Chipset Market
• Wi-Fi Chipset Market Surges With Technological Advancements
• North America was the largest region in the Wi-Fi chipset market in 2023
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