Wi-Fi Market is predicted to grow at 17.8% CAGR in 2028, reaching USD 34.9 billion during 2021-2028 | Size, Trends & Growth

Wi-Fi Market

Wi-Fi market was valued at USD 9.4 billion in 2020, and is projected to touch USD 34.9 billion in 2028, growing at a significant CAGR of 17.8% during 2021-2028.

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The factors driving the growth of Wi-Fi Market includes emerging trend of Bring Your Own Device (BYOD), widespread use of Wi-Fi across industry verticals such as Retail, E-Commerce and Education, commercialization of 5G technology, increasing penetration of smartphones, tablets and connected devices and improvements in the living standards. According to the report published by Statista, the smartphone penetration rates across Indonesia was calculated around 61.3% in 2019 and is expected to reach 82.45% by the end of 2026, which will accelerate the Wi-Fi Market size in the approaching years. Moreover, technological innovations in wireless and smart devices, expansion of the telecom industry, rise in the launch of innovative products, increasing number of smart homes devices around the world and rapid urbanization, are some of the additional factors supplementing the Global Wi-Fi Market. In addition, the increasing investments by leading players on research and development, rising disposable incomes, strategic collaborations between major companies and growing population growth rates, are further contributing towards the market growth.

However, growth of the Wi-Fi Market is hindered attributed to rising concerns related to cyber-attacks across the globe.

The prominent players operating in the market are Aptilo Networks, Netgear, Inc., Ericsson, Cisco Systems, Inc., Aruba Networks, Juniper Netwokrs, Inc., Alcatel-Lucent, Aerohive, Boingo Wireless, Inc., and Ruckus Wireless, Inc., among others.

Based on Component, the Services segment emerged as the fastest growing segment during the forecast period

Growing demand for broadband connectivity services and increasing number of internet users worldwide, are pushing the demand for Wi-Fi solutions.

Based on End-User, the E-commerce segment is projected to dominate the market over the forecast period

Wi-Fi solutions helps e-commerce companies for enhancing their operational efficiency along with rising trend of online shopping, are propelling growth of the segment.

Based on Region, the North American region is anticipated to expand at a remarkable CAGR during the forecast period

Increase in internet penetration rates across United States and Canada, rapid growth in the e-commerce industry, growing adoption of advanced technologies by major corporations, rising population growth rates and high per capita incomes, are some of the important factors augmenting the market growth in the North American region.

Key Developments

In 2019, CISCO introduced 5th Generation Wi-Fi named Wi-Fi 6 with 400 times extended capacity designed to provide predictable consumer experiences.
In 2020, Huawei developed fully powered office networks AirEngine Wi-Fi 6 products that accelerate the capacity of corporate houses with air- interface data speed of 10.75 Gbps.

Market Segmentation

Segmentation by Component

Hardware
Solution
Services

Segmentation by Density

Enterprise-class Wi-Fi
High-density Wi-Fi

Segmentation by Location Type

Indoor
Outdoor
Transport

Segmentation by End-User

Residential & Commercial
Education
Retail
E-commerce
Others

Segmentation by Region

Asia Pacific
China
Japan
India
Rest of APAC

North America
United States of America
Canada

Europe
United Kingdom
Germany
France
Spain
Rest of Europe

RoW
Brazil
South Africa
Saudi Arabia
UAE

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This release was published on openPR.