Increasing popularity and adoption of IoT and its application in end-use industries such as education, healthcare, and retail is driving Wi-Fi market revenue growth

Market Size – USD 9.40 Billion in 2020, Market Growth – at a CAGR of 19.3%, Market Trends – Increasing adoption of Wi-Fi in Asia Pacific

The global Wi-Fi market size is expected to reach USD 38.72 Billion in 2028 and register a revenue CAGR of 19.3% over the forecast period, according to the latest report by Reports and Data. Higher implementation of Internet of Things (IoT) and Bring Your Own Device (BYOD) trend across organizations globally to set up smart infrastructure for improving workforce efficiency and continuously enhancing workflow are expected to drive market revenue growth. In addition, rising demand for portable devices such as laptops and smartphones is supporting market revenue growth.

Wi-Fi supports narrowband and broadband IoT applications from a common platform that works at varying levels of signal range and power consumption. Growing trend of social media, higher internet penetration, and increasing consumption of media content are also driving growth of the market. Moreover, government initiatives to promote digitalization, increasing demand for integrated security in IoT, cloud management, and adoption of carrier Wi-Fi by mobile operators are other key factors expected to drive market revenue growth.

Furthermore, development of Wi-Fi 6 is also fueling revenue growth of the global market, as Wi-Fi 6 provides various benefits over other generations of wireless technology. It supports four times higher network bandwidth and user concurrency with other features to enhance performance and reliability, as well as reduce power drain for end-use devices. However, co-channel contention can hamper market growth as two or more radios using same channel and backing off each other can cause interference in the process of data transmission. Adoption of Wi-Fi is limited due to restrictions and strict government norms pertaining to use of Wi-Fi.

Some major companies profiled in the global market report are Cisco, Aruba, Juniper Networks, Ruckus Wireless, Ericsson, Huawei, Panasonic, Netgear, Aerohive Networks, and Alcatel-Lucent Enterprises.

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Some Key Highlights in the Report

• In October 2021, Virgin Media announced the launch of a new Wi-Fi router named Hub 5. It is powered by Wi-Fi 6 and offers peak performance. The company is currently a leading provider of gigabit in the U.K. and plans to deliver the new product across 15.5 million homes by the end of the year.
• Network planning and design sub-segment is expected to grow at a rapid rate in terms of revenue during the forecast period. It is an important part of the Wi-Fi ecosystem, where operators are required to pass through the correct analysis stage before any kind of implementation of wireless network.
• High-density Wi-Fi segment accounted for larger revenue share in 2020, as it is deployed in places with increasing number of clients within a small space. Large campuses with distributed buildings, multiple floors, and office spaces are considered high-density due to rising number of access points and connected devices.
• Education segment accounted for significant revenue share in 2020, due to increasing usage of Wi-Fi in schools, colleges, and universities to offer seamless, smooth, and efficient education to students. It is also utilized to better equip faculties for imparting their knowledge to students, as well as for monitoring their self-progress. Moreover, the concept of online learning and self-education has gained traction amid the COVID-19 pandemic, which is creating high demand for seamless and faster Wi-Fi connection.
• Wi-Fi market in North America accounted for largest revenue share in 2020, due to ever-increasing demand for Wi-Fi services and solutions in developed countries such as the U.S. and Canada. In addition, increasing adoption of advanced technologies by enterprises for flexible and smooth operations is also boosting growth of the market in this region. Growing trend of wireless hotspots is anticipated to further boost demand for Wi-Fi in North America in the near future.

To identify the key trends in the industry, click on the link below:  https://www.reportsanddata.com/report-detail/wi-fi-market

For the purpose of this report, Reports and Data has segmented the global Wi-Fi market on the basis of component, density, organization size, end use, and region:

Component Outlook (Revenue, USD Billion; 2018–2028)

• Hardware
• Solutions
• WLAN Controllers
• Wireless Hotspots Gateways
• Others
• Services
• Network Planning and Design
• Installation and support
• Survey and Analysis

Density Outlook (Revenue, USD Billion; 2018–2028)

• High-density Wi-Fi
• Enterprise Class Wi-Fi

Organization Size Outlook (Revenue, USD Billion; 2018–2028)

• Small and Medium-sized Enterprises
• Large Enterprises

End-use Outlook (Revenue, USD Billion; 2018–2028)

• Education
• Transportation
• Government
• Manufacturing
• Healthcare
• Retail
• Hospitality
• Sports and Leisure
• Others

Regional Outlook (Revenue, USD Billion; 2018–2028)

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East Africa

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Key Advantages of Wi-Fi Report:

• Identification and analysis of the market size and competition
• Qualitative and quantitative analysis of the market data
• Data validated by industry experts after extensive primary and secondary research
• Extensive regional analysis of the Wi-Fi industry
• Profiling of key players along with their business overview,  business strategies, deals and partnerships, and product portfolio
• SWOT and Porter’s Five Forces Analysis for in-depth understanding of the competitive landscape
• Feasibility analysis and investment analysis to enable strategic investment decisions
• Analysis of opportunities, drivers, restraints, challenges, risks, and limitations

Conclusively, all aspects of the Wi-Fi market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.