CHICAGO, Oct. 30, 2023 /PRNewswire/ -- The growing demand for dependable, quick wireless connectivity in our globally interconnected society is driving a dynamic and promising future for the Wi-Fi business. Wi-Fi will continue to be an essential part of our digital infrastructure even as new applications, protocols, and technologies are developed.
The Wi-Fi Market size is expected to grow from USD 14.5 billion in 2023 to USD 39.4 billion by 2028 at a Compound Annual Growth Rate (CAGR) of 22.2% during the forecast period, according to a new report by MarketsandMarkets™. People use smart devices and smart technologies extensively to improve their living standards. The development of various Wi-Fi-enabled devices in the market has increased consumers' demand, which, in turn, has increased the sale of smart home and work devices. Devices like lighting systems and thermostats are already installed in homes and workplaces across developed countries, such as the US, Japan, and Germany. Developed countries witness large-scale deployments of smart home security and other vehicle infotainment devices. Smart devices need to connect with other devices via homogeneous or heterogeneous networks.
Browse in-depth TOC on "Wi-Fi Market"
353 - Tables
46 - Figures
302 - Pages
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Scope of the Report
Report Metrics | Details |
Market size available for years | 2018-2028 |
Base year considered | 2022 |
Forecast period | 2023-2028 |
Forecast units | Value (USD Million/ Billion) |
Segments covered | By offering, density, location type, application, vertical and region |
Regions covered | North America, Europe, Asia Pacific, Latin America, and Middle East and Africa |
Companies covered | Cisco (US), Ericsson (Sweden), Extreme Networks (US), Huawei (China), Juniper Networks (US), Panasonic (Japan), Fortinet ( US), Aruba (US), Alcatel-Lucent Enterprise (France), NETGEAR (US), Broadcom (US), Airtel (India), Orange Business Services (France), Comcast Business (US), Vodafone (UK), Telstra (Australia), Fujitsu (Japan), AT&T (US), Ubiquiti Networks (US), Lever Technology Group (UK), Redway Networks ( England), Superloop (Australia), Cambium Networks (US), Casa Systems (US), Fon (Spain), D-Link (Taiwan), Actiontec Electronics (US), ADB Global (Switzerland). SDMC Technology (China), Edgewater Wireless Systems (Canada) |
The indoor segment is expected to lead the Wi-Fi Market during the forecast period.
The Wi-Fi Market is segmented into indoor and outdoor based on location type. The growing adoption of smart home devices, including smart TVs, thermostats, security cameras, and voice assistants, which rely heavily on indoor Wi-Fi connectivity, will drive the market. Also, the growing reliance on the internet for work, education, entertainment, and communication is a significant driver. As more people use multiple connected devices indoors, the demand for robust indoor Wi-Fi networks rises.
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Smart home devices segment is expected to hold the largest market share during the forecast period.
Wi-Fi smart home devices have become increasingly popular in recent years, revolutionizing the way people interact with and manage their homes. These devices leverage wireless internet connectivity to provide convenience, energy efficiency, security, and automation in residential settings. Wi-Fi-enabled smart home devices allow users to automate various tasks, control devices remotely, and create personalized routines. The rapid growth in the number and variety of smart home devices, including smart TVs, thermostats, lights, security cameras, and appliances, drives the need for robust Wi-Fi networks.
Asia Pacific likely to emerge as the fastest-growing segment during the forecast period.
The growth of the Wi-Fi Market in the Asia Pacific is highly driven by rapid digitalization, and widespread smartphone adoption has led to an exponential increase in demand for fast and reliable internet connectivity. Also, the growing number of smart homes, IoT devices, and digital initiatives in various sectors like healthcare and education have created a need for robust and scalable Wi-Fi solutions.
Top Key Companies in Wi-Fi Market:
The major vendors covered in the Wi-Fi Market include Cisco (US), Ericsson (Sweden), Extreme Networks (US), Huawei (China), Juniper Networks (US), Panasonic (Japan), Fortinet ( US), Aruba (US), Alcatel-Lucent Enterprise (France), NETGEAR (US), Broadcom (US), Airtel (India), Orange Business Services (France), Comcast Business (US), Vodafone (UK), Telstra (Australia), Fujitsu (Japan), AT&T (US), Ubiquiti Networks (US), Lever Technology Group (UK), Redway Networks ( England), Superloop (Australia), Cambium Networks (US), Casa Systems (US), Fon (Spain), D-Link (Taiwan), Actiontec Electronics (US), ADB Global (Switzerland). SDMC Technology (China), Edgewater Wireless Systems (Canada).
Recent Developments:
- In September 2023, Huawei introduced the Huawei Router 3B Pro with WiFi-7 capabilities, which can transfer a single file through both 2.4gHz and 5gHz channels to boost speed.
- In August 2023, US cellular and Ericsson collaborated to provide private wireless network solutions for various industry segments. This includes an initial focus on Industry 4.0 manufacturing, logistics, distribution and warehouse use cases, expanding into hospitals, Industrial Internet of Things (IIoT), ports, utilities, and airports.
- In May 2023, Extreme Networks introduced a variety of new solutions. It launched the AP3000 Wi-Fi 6E access point (AP) to meet enterprise-grade performance. Extreme also extended its Universal Switch series by introducing the 7520 and 7720 switches, custom-built for enterprise core and aggregation use cases, and 8820 switches, high-density, deep buffer switch routers designed for large enterprise networks.
- In February 2023, Federated Wireless and Cisco collaborated to gain ultra-high speed, capacity, and scalability of Wi-Fi 6E to enterprises in markets globally. Cisco will integrate the Federated Wireless Automated Frequency Coordination (AFC) solution into Cisco Wireless 6 GHz capable access points.
- In February 2022, Juniper Networks acquired WiteSand, an innovator of cloud-native zero-trust Network Access Control (NAC) solutions. This agreement would bring a skilled engineering team and technology to Juniper, quickening the company's attempts to deliver a next-generation NAC solution.
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Wi-Fi Market Advantages:
- Wi-Fi provides wireless connectivity, allowing devices to connect to the internet and local networks without the need for physical cables. This wireless freedom enhances mobility and flexibility.
- For both small and large organisations, setting up and maintaining a Wi-Fi network is often less expensive than installing physical network cables.
- Wi-Fi networks may be readily expanded or scaled up by adding more access points to accommodate a rising number of devices and users. Particularly in dynamic contexts, this adaptability is crucial.
- Users can access the internet more quickly and effectively because to the high data transmission rates offered by contemporary Wi-Fi protocols like Wi-Fi 6 (802.11ax).
- Broad compatibility is ensured by the vast range of devices that accept Wi-Fi, including wearable technologies, smart home appliances, IoT devices, and laptops.
- In order to facilitate guest connections without jeopardising the primary network's security, Wi-Fi networks can be set up to grant access to outside parties. Businesses and public spaces frequently use this.
- Users of sophisticated Wi-Fi systems can travel between access points without losing their connection thanks to seamless roaming capabilities. For big buildings and campus settings, this is essential.
- In order to facilitate communication and data sharing across different sensors and smart devices, Wi-Fi is frequently used to connect Internet of Things devices.
- Network managers may remotely monitor and configure their networks from a central place with the help of many Wi-Fi solutions. This is useful for IT departments overseeing several sites.
Report Objectives
- To determine, segment, and forecast the global Wi-Fi Market by offering, density, location type, application, vertical, and region in terms of value.
- To forecast the size of the market segments with respect to five main regions: North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa
- To provide detailed information about the major factors (drivers, opportunities, threats, and challenges) influencing the growth of the Wi-Fi Market
- To study the complete value chain and related industry segments and perform a value chain analysis of the Wi-Fi Market landscape.
- To strategically analyze the macro and micro markets with respect to individual growth trends, prospects, and contributions to the total Wi-Fi Market.
- To analyze the industry trends, pricing data, and patents and innovations related to the Wi-Fi Market.
- To analyze the opportunities for stakeholders by identifying the high-growth segments of the Wi-Fi Market
- To profile the key players in the market and comprehensively analyze their market share/ranking and core competencies.
- To track and analyze competitive developments, such as mergers & acquisitions, product launches & developments, partnerships, agreements, collaborations, business expansions, and research and development (R&D) activities.
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