According to a new market research report published by Credence Research, the global WiFi chipset market was estimated at US$ 16.34 billion in 2018 and is set to grow with a CAGR of 5.14 per cent over the forecast period.
The growing penetration of smartphones and mobile devices worldwide is driving the growth of the WiFi Chipset market worldwide. The global Wi-Fi hotspot market is growing at a rapid rate and is estimated at more than US$ 1.5 billion in 2018, which, in turn, is improving the Wi-Fi chipset industry. Wireless chipset is essentially an internal hardware component that allows the device to communicate with another wireless device. -use of the Internet of Things (IOT) makes it possible for these Iot chipsets to be integrated into household appliances such as washing machines, televisions, air conditioners and others. Technological developments in the software and microelectronic sectors are expected to drive the market during the forecast period. On the basis of the above factors, the WiFi Chipset market is expected to show steady growth throughout the forecast period.
Browse Full Report Originally Published by Credence Research @ https://www.credenceresearch.com/press/global-wifi-chipset-market
Depending on the product category, the smartphone segment will lead the market with more than 60 per cent of the market share worldwide. -internet penetration and growing use of smartphones for industry, as well as personal applications, is driving the growth of the market. WiFi chipsets have become an internal smartphone component which lets these phones increase the speed of internet and data transfer. High data use and uploading of files on these phones are the other major growth drivers for the market. Affordable smartphone costs, along with rising technological advances in these phones, allow the smartphone segment to continue to lead the market during the forecast period.
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Based on geography, North America dominates the WiFi Chipset market worldwide, with more than 30% of the market share following. North America is a pioneer due to its willingness to embrace innovative consumer electronics products such as smartphones, laptops and other smart devices. Asia Pacific is expected to grow with the highest CAGR due to rising internet penetration and technologically advanced countries such as Singapore, Australia, Japan and others. Due to the rapid increase in the production of smart devices in the region, the demand for WiFi chipsets in the region is on the rise. As a result of these factors, we expect the Asia-Pacific region to expand at a rapid pace throughout the forecast period.
Major market players are Qualcomm Technologies, Inc., Intel Corporation, Texas Instruments, Inc., STMicroelectronics N.V., Mediatek, Inc., Samsung Electronics Co., Ltd., Marvell Technology Group Ltd., Cypress Semiconductor Corporation, Broadcom Inc., Intel Corporation, Realtek Semiconductor Corp., Texas Instruments Incorporate, Quantenna Communications Inc., Espressif Inc. and others.