This research report categorizes the Wi-Fi market to forecast revenues and analyze trends by component, density, location type, organization size, vertical, and region
The global Wi-Fi Market size is projected to grow from USD 12.billion in 2022 to USD 31.3 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 20.4% during the forecast period according to a new report by MarketsandMarkets™.
The increasing adoption of BYOD and CYOD trends among organizations is driving the growth of the Wi-Fi market.
Browse in-depth TOC on "Wi-Fi Market"
347 - Tables
49 - Figures
272 – Pages
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The hardware segment is estimated to lead the Wi-Fi market in 2022.
The Wi-Fi hardware segment comprises access points, WLAN controllers, wireless hotspot gateways, and other hardware. The other hardware includes routers, switches, antennas, relays, and repeaters.
The integration of Wi-Fi with other devices has led to improved connectivity. Several verticals, such as healthcare & life sciences and BFSI, are highly dependent on wireless connectivity, and any loss of connection may hamper their daily business operations.
The high-density Wi-Fi segment is projected to grow at the fastest rate during the forecast period.
High-density wireless environments are locations that require the support of hundreds or even thousands of wireless clients in a given area. High-density Wi-Fi is a design strategy for large deployments to provide pervasive connectivity to clients when a high number of clients are expected to connect to Access Points within a small space.
A location can be high-density if more than 30 clients connect to an AP.
Indoor location type is set to emerge as the largest market for Wi-Fi during the forecast period.
Indoor Positioning System (IPS) refers to the technology that helps locate people and objects indoors. That location information is then fed into some type of application software to make the information useful.
For instance, IPS technologies enable several location-based indoor tracking solutions, including Real-Time Location Systems (RTLS), wayfinding, inventory management, and first responder location systems.
SMEs are pegged to account for a higher CAGR during the forecast period.
Ease of deployment and availability of a number of vendors of Wi-Fi services are some of the factors leading to the adoption of Wi-Fi in SMEs. The demand for Wi-Fi is high in SMEs to ensure the security of their networks and the quality of their services.
Education is likely to emerge as the largest market for Wi-Fi during the forecast period.
The education vertical is expected to hold a significant market share in the Wi-Fi market, due to the various benefits provided by MSPs. These benefits include improved performance, reduced IT infrastructure costs, and better connectivity.
Wi-Fi solution providers offer consistent connectivity through one reliable network via multiple APs to various educational institutes. Additionally, these solutions and associated services are instrumental in delivering managed and filtered internet access in the education vertical.
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Regional Analysis for Wi-Fi Market
In 2021, Asia accounted for USD 36.8 trillion in nominal terms, calculated by taking figures from the IMF. Asia accounted for 39% of the world’s GDP in 2021.
In PPP terms, its shares account for 47.5%, with USD 68.7 trillion.
The number of internet users in Japan is expected to reach 128 million by 2026, and the demand for high-speed internet access is expected to grow in tandem. The growing popularity of mobile devices is also driving the growth of the market.
The number of mobile phone users in Japan is expected to reach 127 million by 2026, and the demand for wireless connectivity is expected to grow as more people use mobile devices for work, school, and entertainment.
The three-year plan was supposed to be unveiled in 2019. The city's government is tackling issues like the need for free, widely accessible public Wi-Fi that spans 4,237 kilometres and is installed with a priority in areas with a high density of people.
They plan to more than double the quantity of public Wi-Fi access points (APs) by the year 2022. With a population of nearly 6 million, the cost reductions are anticipated to be enormous.
Chinese wireless startup Zunpai Communication Technology Ltd claims to have obtained pre-A round financing in the amount of hundreds of millions of yuan.Zunpai is creating router chips for WiFi 6. Zunpai is initially creating a router IC with a 22 MIMO architecture for the 3Gbps market.
The WiFi 7 standard and 44 MIMO will also be covered.
In August 2023, WiFi Map, a prominent Decentralised Wireless (DeWi) corporation with headquarters in the US, revealed that India had overtaken Indonesia as its second-largest global market, with 12 million additional app downloads. This strong expansion is a result of the expanding DeWi community and the quick uptake of web3-based services in the area.
Factors that Drive Wi-Fi Market
- Growth in Mobile Devices: The need for Wi-Fi access has substantially increased due to the widespread use of smartphones, tablets, laptops, and other portable electronics. Everywhere they go, users demand smooth, fast wireless internet connectivity.
- Internet of Things (IoT): In order to support data transfer and remote control, IoT devices like smart thermostats, cameras, and wearable technologies need reliable and widespread Wi-Fi access.
- Evolving Standards: Faster and more effective wireless networks with better performance and capacity have been made possible by the development and implementation of Wi-Fi standards like 802.11ax (Wi-Fi 6) and 802.11ay (Wi-Fi 6E).
- 5G Integration: Wi-Fi 6/5G convergence, also known as the merger of Wi-Fi and 5G networks, enables improved wireless connectivity, decreased latency, and increased capacity, promoting Wi-Fi adoption alongside 5G installations.
Market Players
The major vendors covered in the Wi-Fi market include Cisco (US), Juniper Networks (US), NETGEAR (US), Aruba (US), Huawei (China), Panasonic (Japan), Alcatel-Lucent Enterprise (France), Ericsson (Sweden), Extreme Networks (US), Fortinet (US), D-Link Systems (Taiwan), LEVER Technology Group (UK), Redway Networks (UK), Casa Systems (US), Broadcom (US), Ubiquiti Networks (US), Airtel (India), Orange Business Services (France), AT&T (US), Comcast Business (US), Vodafone (UK), iPass (US), Superloop (Australia), Telstra (Australia), Fujitsu (Japan), Cambium Networks (US), and Fon (Spain).
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