The global Gcc Wifi Chipset Market is estimated to be valued at US$ 20.5 Billion 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:
A Wifi chipset is an integral component of electronic devices that enables wireless connectivity. It consists of radio frequency transceivers along with a protocol stack to transfer data according to predefined Wifi standards. GCC wifi chipsets are widely used across consumer electronics, smartphones, tablets, computers, smart home appliances and networking devices. They provide reliable, high speed wireless connectivity to devices and enable wireless data transmission and internet access. Owing to advancements in technology, modern GCC wifi chipsets deliver multi-gigabit speeds with improved power efficiency and enhanced security features. Rising ownership of internet enabled devices and growing demand for ubiquitous connectivity are major factors driving the adoption of GCC wifi chipsets globally.
Market key trends:
One of the key trends in the GCC wifi chipset market is the growing adoption of dual-band wifi chipsets that support both 2.4GHz and 5GHz bands. Dual-band chipsets provide superior performance and speed compared to single-band ones. They help eliminate interference and congestion issues in dense, crowded environments. Manufacturers are increasingly integrating dual-band wifi into various consumer electronics and IoT devices to offer seamless connectivity. Rising deployment of public WiFi hotspots at places like airports, cafes and malls is also propelling the demand for dual-band chipsets with advanced features.
Porter’s Analysis
Threat of new entrants: The threat is low due to high initial investment required in R&D to develop new technologies. Bargaining power of buyers: The bargaining power is high due to presence of many established players providing substitutable products at competitive prices.
Bargaining power of suppliers: The bargaining power is moderate as key components like chips/semiconductors have few specialized global suppliers.
Threat of new substitutes: The threat is moderate as newer connectivity technologies like 5G can replace Wi-Fi connectivity in future.
Competitive rivalry: High due to presence of many global and regional players competing on basis of technology, features, and pricing.
Key Takeaways
The Global Gcc Wifi Chipset Market Size is expected to witness high growth, exhibiting CAGR of 4.8% over the forecast period of 2023 to 2030, due to increasing penetration of smart devices and IoT applications. The market size for 2023 is estimated to be US$ 20.5 Bn.
Regional analysis: Asia Pacific region is expected to dominate the gcc wifi chipset market during the forecast period. Countries like China, India, and Japan are major contributors to the growth of the region due to widespread adoption of smart home devices. North America and Europe are other prominent markets driven by high smartphone and laptop sales.
Key players: 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., and Microchip Technology Inc. Broadcom Corporation holds the largest market share owing to its varied product portfolio and strong distribution network. MediaTek follows Broadcom in terms of market share on back of their focus on mobile devices segment.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it