The global Wi-Fi Market is valued at around USD 11.1 Billion in 2022 and is expected to reach USD 74.1 Billion by 2030, registering a CAGR of 18.9% over the forecast period. A registered trademark for WLAN-based connectivity products that enable internet communication for a variety of devices is the term “wi-fi.” The need for external wi-fi connection and the recent rise in connected devices have had a significant impact on the demand for these connectivity goods. Working from home is very common these days. As a result of the quick shift to widespread remote work, personal gadgets including cellphones, laptops, tablets, desktop PCs, etc. have become commonplace. Employees have also been observed utilizing their personal WiFi connections to access the corporate network. The unanticipated disruption caused by the COVID-19 epidemic enhanced the requirement for WiFi in order to continue crucial operations and business activities.
Due to the rising demand for responsive, effective, and high-quality wireless network connectivity, Wi-Fi has become widely adopted across the information technology (IT), telecom, education, retail, healthcare, life sciences, manufacturing, and small and medium-sized enterprises (SMEs) sectors. Due to the increasing use of Wi-Fi in businesses, organizations have been able to streamline a number of processes, ensure quick and responsive development, and monitor the network.
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The Wi-Fi Market – Growth Factors
This contributes significantly to growth promotion. Accordingly, significant technical advancements including the introduction of wirelessly enabled devices like smartphones, tablets, televisions, and laptops are promoting the market’s growth by reducing the cost of network wiring and enhancing mobility. The use of the Internet of Things (IoT) and bring your own device (BYOD) corporate models has also been prompted by the sudden emergence of the coronavirus disease (COVID-19) pandemic and the implementation of a national lockdown, which has in turn facilitated the demand for Wi-Fi globally. Additional factors such as helpful measures taken by the governments of several nations to promote digitalization, higher internet connectivity penetration, and rising use of electronic devices are creating a positive picture for the market.
The Wi-Fi Market – Market Trends
- Wireless communications are becoming more and more prevalent in applications that link machines to machines. Numerous investments in connection for industrial and retail purposes are what are driving the development. By producing congestion in the 2.4 and 5 GHz bands, this expansion’s congestion raises demand for the 6 GHz spectrum allocation.
- Additionally, edge networks and computers have been used in enterprise designs to optimize processing for business-critical analysis of data sets from IoT applications and communications. According to Uptime Institute, 50% of all workloads may be executed outside of the enterprise data center by 2021.
- High-definition video applications, low-latency real-time communications, and multi-access edges are all made more necessary by 5G and WiFi 6. In order to deliver services, it is planned that the connected networks of control devices will speak with one another directly, without translation or IP-based standards.
Top Key Players of Global Wi-Fi Market:
AT&T Inc.
Broadcom Inc.
Cisco Systems Inc.
Extreme Networks
Fortinet Inc.
Fujitsu Limited
Hewlett Packard Enterprise Company
Huawei Technologies Co. Ltd.
Juniper Networks Inc.
Motorola Solutions Inc.
The Wi-Fi Market – Segmentation
On the basis of component, the Wi-Fi Market is bifurcated into:
- Hardware
- Solutions
- Services
- Others
On the basis of location type, the market is segmented into:
- High-density WIFI
- Enterprise class WIFI
- Others
On the basis of organisation size, the market segmented into:
- Large enterprises
- Small and medium-sized enterprises
- Others
On the basis of industrial vertical, the market segmented into:
- Education
- BFSI
- Healthcare
- Logistics and transportation
- Retail
- Government
- Others
Market Segmented by Region:
North America (U.S., Canada, Mexico)
Europe (UK, Germany, France, Italy, Rest of Europe)
Asia-Pacific (China, Japan, Australia, Malaysia, Rest of Asia-Pacific)
LAMEA (Latin America, Middle East, Africa)
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Objectives of the Study:
- To provide with an exhaustive analysis on the Wi-Fi Market by Product, By Application, By End User and by Region.
- To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
- To evaluate and forecast micro-markets and the overall market
- To predict the market size, in key regions— North America, Europe, Asia Pacific, Latin America and Middle East and Africa.
- To record and evaluate competitive landscape mapping- product launches, technological advancements, mergers and expansions
Reasons to Purchase this Report:
- Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
- Provision of market value (USD Billion) data for each segment and sub-segment
- Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
- Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
- Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
- Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
- The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
- Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis
- Provides insight into the market through Value Chain
