The WiGig market is growing on account of the rising demand for faster internet connectivity and increasing adoption of portable consumer electronic devices, such as mobile phones, tablets, and laptops. Due to these factors, the revenue generation by the sale of such solutions will witness a 27.9% CAGR during 2019–2024 (forecast period), surging from $1,078.7 million in 2018 to $4,386.1 million by 2024. WiGig is a set of protocols for wireless internet connections working at a frequency of 60 Hertz (Hz).

Banking, financial services, & insurance (BFSI), government, healthcare, retail, residential, information technology & telecommunications (IT & telecom), and others are the divisions under the industry segment. During the historical period (2013–2017), the market was dominated by the IT & telecom category, as this industry makes the highest usage of the WiGig protocols for offering internet connectivity. During the forecast period, the highest CAGR is expected in the healthcare category due to the rising rate of digitization in this industry.

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In addition, the rapid adoption of the bring-your-own-device (BYOD) culture is leading to the deployment of docking stations enabled with WiGig. As employees are more comfortable on their personal systems and this approach also allows companies to save on operational costs, it is becoming popular. However, the individual devices of employees still need to be connected to the internet. Thus, to avoid having individual connections for all the devices, which can lead to an increase in the operational costs, companies are using WiGig-enabled docking stations to connect multiple devices simultaneously.

North America generated the highest revenue in the WiGig market in 2018 on account of the existence of numerous semiconductor companies and usage of new wireless communication standards in the U.S. and Canada. The highest growth rate is expected to be witnessed in the Asia-Pacific (APAC) region during the forecast period because of the heavy government investments in the advancement of the IT and telecom infrastructure. Moreover, due to the increasing number of internet users in China and India, the existing wireless standards are becoming overloaded and congested.