Report ID: SQMIG50B2031
Report ID:
SQMIG50B2031 |
Region:
Global |
Published Date: November, 2024
Pages:
187
|
Tables:
93 |
Figures:
71
Wi-Fi Chipset Market size was valued at USD 25.29 Billion in 2023 and is poised to grow from USD 26.81 Billion in 2024 to USD 42.79 Billion by 2032, growing at a CAGR of 6.02% during the forecast period (2025-2032).
The need for wireless chipsets has increased due to the extensive global usage of the Internet of Things (IoT) in the commercial, industrial, and residential sectors. Improved productivity, flexibility, dependability, high security, higher output, quicker processing, more convenient living, and cost-effectiveness are all benefits of automation integration across applications. The growth of the wireless chipset market is expected to be driven in the forthcoming years due to the rising number of devices connected to different industries. For instance, the European Telecommunications Network Operators’ Association (ETNO) indicates that there are currently close to 16 million installed Internet of Things connections in smart buildings across Europe and this number is forecasted to reach 154 million by the end of 2025.
Additionally, the growth of the wireless chipset market is expected to be impacted by an increase in criminal activities, as well as increased government initiatives and plans to encourage the construction of advanced real-time surveillance technologies to provide enhanced security. Given this, automation is probably going to raise the need for wireless chipsets globally. The increasing need for high-performance network connectivity—which enables numerous users to access simultaneously at a consistent bandwidth capacity—is the reason for the significant growth. These services' improved range, stable communication, and reduced latency will improve the user experience.
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Report ID: SQMIG50B2031