by The Gcc Wifi Chipset Market is estimated to be valued at US$ 20.5 Bn in 2023 and is expected to exhibit a CAGR of 4.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
The Gcc Wifi chipset market comprises semiconductor integrated circuits or ICs that enable wireless local area network connectivity of various devices such as smartphones, laptops, smart televisions, smart home devices and various other consumer electronic devices and industrial equipment. Wi-Fi chipsets allow devices to connect to the internet wirelessly using Wi-Fi networks based on the Institute of Electrical and Electronics Engineers’ (IEEE) 802.11 standards. Common Wi-Fi standards include 802.11b, 802.11g, 802.11n, and 802.11ac. Key functions of Wi-Fi chipsets include Wi-Fi front-end modules, physical layer (PHY) coprocessors, and more.
Market Dynamics:
Growth in adoption of smart home devices and IoT applications is a major factor driving the Gcc Wifi chipset market growth. Integration of Wi-Fi in various smart home appliances such as smart speakers, smart lighting, smart fridges, smart thermostats and home security systems are increasing rapidly. Similarly, increase in number of connected IoT devices including connected vehicles, wearables, healthcare devices and industrial IoT solutions is also fueling the demand for Wi-Fi chipsets. Another factor propelling the market growth is transition from legacy Wi-Fi standards such as 802.11n to newer and faster standards including 802.11ac and 802.11ax. Emergence of technologies such smart cities and 5G networks will also complement the growth of Wi-Fi chipset market.
Segment Analysis
The GCC WiFi chipset market is segmented by product type, end use industry, and geography. Based on product type, the market is bifurcated into system-on-chips (SoCs) and dedicated chips. Among these, the SoCs segment dominates the market and accounts for around 60% share owing to the versatile nature and advantages of high performance.
PEST Analysis
Political: The government support for digitalization and push towards technology adoption positively impacts the growth. Economic: Growing GDP rate increases disposable income leading to rise in adoption of smart devices and high speed internet services driving the market. Social: Increasing internet and smartphone penetration along with changing lifestyle propels the demand. Technological: Advancements in wireless technologies such as 5G and growing deployment of IoT solutions supplement the market growth.
Key Takeaways
The Global GCC Wifi Chipset Market Size is expected to witness high growth, exhibiting CAGR of 4.8% over the forecast period, due to increasing digitalization and growing demand for high speed internet. Regionally, Middle East & Africa holds the largest share and is expected to continue its dominance owing to increasing investment in connectivity infrastructure and growing number of start-ups. Key players operating in the GCC Wifi Chipset market are Broadcom, Celeno Communications, Infineon Technologies, Espressif Systems Shanghai Co Ltd, GCT Semiconductor Inc., I&C Technology, Intel Corporation, MediaTek, Inc., Microchip Technology Inc. Key players focus on product innovation and partnerships to strengthen their foothold.
Regional analysis
Middle East & Africa holds the dominant share in the GCC Wifi chipset market and is expected to reach US$ 9 Bn by 2023. Rapid expansion of telecom sector and infrastructure development supports the growth. Countries such as Saudi Arabia and UAE are witnessing high deployment of public Wi-Fi hotspots owing to growing need for internet connectivity at public places.
Key players
Key players operating in the GCC Wifi chipset market focus on developing cutting-edge solutions to meet dynamic industry demands. For instance, Broadcom launched BCM4389 Wi-Fi 6E chipset with 6 GHz support in 2020. MediaTek collaborated with Nokia in 2021 to launch MT7921AU Wi-Fi 6 chipset for home routers. Intel acquired Infraware in 2021 to strengthen its presence in Wi-Fi and cellular connectivity business.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
