The Wi-Fi Market: Overview
The 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. The word ""wi-fi"" is a registered brand used to describe WLAN-based connectivity products that support internet communication for a variety of devices. The necessity for these connectivity items has been greatly influenced by the recent increase in the number of devices linked to the internet and the desire for external wi-fi communication. These days, working from home is extremely popular. Personal devices, such as smartphones, laptops, tablets, desktop computers, etc., are a result of the rapid change to widespread remote work. Additionally, employees have been seen connecting to the company network using their personal WiFi connections. The COVID-19 pandemic's unexpected disruption increased the need for WiFi to maintain vital operations and corporate operations.
The Wi-Fi Market - Growth Factors
The primary factor fuelling market expansion is the widespread adoption of Wi-Fi across the information technology (IT), telecom, education, retail, healthcare, life sciences, manufacturing, and small and medium-sized enterprises (SMEs) sectors, which is due to the growing demand for responsive, efficient, and high-quality wireless network connectivity. Businesses have been able to streamline several activities, assure quick and responsive development, and monitor the network thanks to the growing use of Wi-Fi throughout enterprises.
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This is a significant growth-promoting element as well. In keeping with this, important technological developments like the advent of wirelessly enabled gadgets like smartphones, tablets, televisions, and laptops are assisting the market's expansion by lowering network wiring costs and providing increased mobility. Additionally, the sudden outbreak of the coronavirus disease (COVID-19) pandemic and the subsequent implementation of a national lockdown have prompted the use of the Internet of Things (IoT) and bring your own device (BYOD) corporate models, which in turn is facilitating the demand for Wi-Fi around the world. A good outlook for the market is being created by additional variables such beneficial steps done by the governments of numerous nations to promote digitalization, higher internet connectivity penetration, and rising use of electronic devices for completing jobs.
The Wi-Fi Market – Market Trends
• Applications that connect machines to machines are increasingly gravitating toward wireless communications. The increase is being fuelled by numerous investments in connectivity for industrial and retail. Congestion caused by this expansion increases demand for the 6 GHz spectrum allocation by causing congestion in the 2.4 and 5 GHz bands.
• Additionally, enterprise designs have been driven to optimise processing for business-critical analysis of data sets from IoT applications and communications by edge networks and computing. By 2021, 50% of all workloads may be executed outside of the enterprise data centre, according to Uptime Institute.
• The multi-access edge made possible by 5G and WiFi 6 further increases the need for low-latency, real-time communications, and high-definition video applications. The connected networks of control devices are anticipated to communicate with one another directly, without translation or IP-based standards, in order to provide services.
The Wi-Fi Market – Segmentation
The Wi-Fi Market fragrance concentrates market has been sub-classified into component, density, location type, organisation size, industry vertical.
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
The Wi-Fi Market –Regional Analysis
Asia-Pacific dominated the global Wi-Fi Market to be extremely profitable for the expansion of the Wi-Fi sector in the ensuing years. According to the findings of a recent study, the number of internet users in Southeast Asia as a percentage of all users worldwide is expected to rise by 3.1% yearly by 2022.
Additionally, as of 2019, about 54% of the region's population uses some kind of online service. According to some reports, 90.1% of Southeast Asians who use the internet are expected to use smartphones by 2026, up from 88% in 2022. In India, 87% of the population is anticipated to have access to the internet by 2025, according to a recent piece in The Economic Times.
The Wi-Fi Market – Key Market players
Global key players of Wi-Fi Market include 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., Panasonic Corporation, Singapore Telecommunications Limited, Telefonaktiebolaget LM Ericsson, Telstra Corporation Limited and Ubiquiti Inc., and others.
Report scope
Global Wi-Fi Market: Historical Years- 2018-2021
Global Wi-Fi Market: Forecast Years- 2022-2030
Global Wi-Fi Market 2022- USD 11.1 billion
Global Wi-Fi Market 2030- USD 8.1 Billion
Global Wi-Fi Market CAGR- 18.9%
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Key Questions answered with an analysis in this report:
- What are the current market trends? Will there be an increase or decrease in market demand in the following years?
- Which product categories are expected to have the highest demand? What kind and applications might we expect in the future?
- What Economic Predictions are Available for the Industry Considering Capacity, Production, and Production Value?
- Which costs and profits are projected? What Will the Market Share, Consumption, and Supply Be? How do imports and exports operate?
- In light of the strategic advancements, where will the industry be in the mid- to long-term?
- What are the primary raw materials employed in the production?
- What is the value of the global market? How much was the market worth in 2022?
- Which companies are the main players in the market? Which businesses are leading the pack?
- What are the current business trends that can be used to create new sources of income?
- What Entry Strategies, Economic Impact Countermeasures, and Marketing Channels Should the Industry Use?
