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The Wi-Fi chipset market reached a valuation of USD 16.37 billion in 2016. Thanks to rising demand for Wi-Fi technology in a wide range of applications including smartphones, home automation devices, smart TVs, and upcoming IoT devices, the market will likely surpass $20 billion in valuation by 2022. The Wi-Fi chips have become an irreplaceable technology in consumer electronics. Today, every residential, and commercial premise requires an access to the Wi-Fi technology, thanks to growing demand for high-speeds offered by the broadband technology. Moreover, the growing use of more than one connected device person including wearable gadgets, smartphones, laptops, and desktops will promise more growth for the Wi-Fi chipset market in the near future.
Covid-19 Impact on Growth in the Wi-Fi Chipset Market
The Wi-Fi chipset market like all others has witnessed some negative impact of Covid-19 but it has also emerged as a clear winner, thanks to rising digitalization across the world. The negative impact in the market has occurred from the fallen size of large investments due to tight economic conditions around the world. However, the expansion of new Wi-Fi enabled products like robotic vacuums, IoT devices, and AI-driven smart speakers, and entry of large players like Amazon, and Google in the sphere promise lucrative prospects for players in the global Wi-Fi chipset market. Furthermore, increased automation in home air conditioning systems, and rise in HVAC systems with enabled Wi-Fi access remains a promising new prospect for growth in the Wi-Fi chipset market. According to Google trends, the air conditioner technology in relation to Wi-Fi technology remained a key trends in the beginning of 2021.
The Rising Penetration of Enterprise Wireless Technology Remains Key
According to the GSM association, the number of IoT connections grew to 12 billion in 2019. The number is expected to rise to 24.6 billion by 2025 end. The rising demand for IoT technology for monitoring, surveillance, automation, express deliveries in a wide range of industries is expected to drive growth for the Wi-Fi chipset technology in the near future. The rising demand for the technology in public sector also remains a promising sight for players in the Wi-Fi chipset market. The growing demand for easy, and convenient access to essential government services, growing demand for transparency in government handling, and availability of large data storage facilities will be a major boon for growth for the Wi-Fi chipset market.
The market continues to undergo major change as supply chain experience immense pressure due to disruption in supplies for raw materials, and key components across the globe. Moreover, there will be some good news for players in the Wi-Fi chipset market as well. Advancements in materials like graphene will likely present new opportunities, thanks to the ideal energy efficiency, and rise in energy capacities in the near future. The decline in demand for consumer electronics remains a cause of concern in the Wi-Fi chipset market. However, growing demand in Asia Pacific, and rising demand for telecom infrastructure, and IoT devices will present new opportunities for growth for players in the Wi-Fi chipset market.
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