Increasing Automation Adoption to Trigger Demand for Wireless Chipsets
Rampant penetration of Internet of Things (IoT) across residential, industrial, and commercial sectors has triggered the need for advanced automation, in turn driving demand of wireless chipsets. Integration of automation across applications provides higher efficiency, greater flexibility and reliability, high security, increase in production output, better process speeds, living convenience and cost efficiency. That said, increasing Internet of Things connections across various sectors is expected to boost the growth of the wireless chipset market in the coming years. For instance, according to European Telecommunications Network Operators’ Association (ETNO), around 16 million Internet of Things connections were integrated in smart buildings in European countries and the count is expected to further increase to touch 154 million by end of 2025.
In addition, growing criminal activities coupled with increasing government efforts and incentives to fuel installation of advanced real time surveillance systems in order to ensure enhanced security measures are expected to influence wireless chipset market growth. In this backdrop, automation is likely to spur demand for wireless chipsets on the global front.
Wi-Fi Chipsets Poised to Significantly Contribute Towards Market Revenue Growth
With proliferation of wireless technology, user inclination towards Wi-Fi connectivity has grown significantly since the recent past. That said, demand and use of Wi-Fi chipsets is expected to increase at a momentous rate worldwide owing to their perceived benefits such as enhanced connectivity, high speed and greater mobility and flexibility. In this background, companies are leveraging next generation Wi-Fi chipsets to induce new capabilities and functionalities to cater to their growing demand. For instance, Broadcom announced availability of novel chipset solutions for Wi-Fi 7 ecosystem. These solutions will enhance the quality providing improved user experience by delivering low-latency and reliable communication, and extended range. In addition, with introduction of 320 MHz, it doubles the Wi-Fi channel bandwidth. In this background, the adoption of Wi-Fi chipsets is expected to increase, consequently contributing towards wireless chipset market growth.
North America Likely to Account for a Major Revenue Share in the Wireless Chipset Market
Developed nations across North America region are expected to reflect high growth potential with regards to use of wireless chipsets. The wireless chipset market in North America is poised to grow at a significant rate owing to rampant penetration of Internet of Things (IoT). Complementing this, growing use of technologically advanced smart devices and consumer electronics coupled are further encouraging investments in the wireless chipset space. In addition, trending industrial automation is further driving demand for wireless chipsets. Also, to provide favourable infrastructure to technology companies and other industries, reliance on wireless technology is increasing in the region to ensure stable network across commercial and residential sectors. Moreover, presence of large companies operating in the wireless domain have their foothold in North America, making it a strong regional market for wireless chipsets.
On the other hand, Asia Pacific is expected to showcase higher market attractiveness. Increasing use of wireless chipsets on the back of growing inclination towards next generation Wi-Fi connectivity is driving the growth of the market in the region. In addition, growing investments by institutions and government authorities to facilitate data-intensive research is likely to provide good opportunities for manufacturers of wireless chipsets. For instance, in 2021, Guam-Singapore Connectivity Consortium planned to expand its support for data-intensive science across the Asia Pacific. Hawaii University and SingAREN in Singapore are contributing towards 100 GBPS circuit which connects Singapore and Guam. This connectivity is expected to ensure an advanced trans-Pacific topology of network particularly for science and research. It also increases the durability and capacity of network fabric which connects research communities in Oceania, North America and Asia. Such developments and initiatives are expected to give an impetus to the use of wireless chipsets in turn contributing towards market growth.
Wireless Chipset Market: Competitive Landscape
To maintain their position, companies operating in the wireless chipset market are focusing on new product launches that feature high flexibility, functionality, and cost effectiveness. For instance, in 2020, Broadcom launched WIFI 6E wireless chipset which is particularly designed residential and enterprise APs (Access Points). Likewise, same year in December, Qualcomm introduced QCC305x SoCs. These are new affordable and flexible wireless chipsets designed for TWEs (Truly Wireless Ear buds).
Few of the major companies in the wireless chipset market include Qualcomm Inc., Texas Instruments, Broadcom Corporation, Intel Corporation, Silicon Laboratories Inc., Zigbee Alliance, Altair Semiconductor Inc., Imagination Technologies Group Plc, Atmel Corporation and Entropic Communications Inc.
Global Wireless Chipset Market is Segmented as Below:
By End User
Key Elements Included In The Study: Global Wireless Chipset Market
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