Wi-Fi 6 Revolution: Market Trends and Opportunities for Growth 2031

According to a new report published by Allied Market Research, titled, "Wi-Fi 6 Market," The wi-fi 6 market size was valued at $10.9 billion in 2021, and is estimated to reach $64.1 billion by 2031, growing at a CAGR of 19.6% from 2022 to 2031.

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Wi-Fi 6, also known as IEEE 802.11ax, is the newest Wi-Fi specification standard, coming after Wi-Fi 5 (IEEE 802.11ac). It promises greater speeds and better connectivity, as well as increased support for multiple, high-bandwidth devices. It operates between the 1 and 6 GHz frequency bands. With Wi-Fi 6 solution, enterprises can gain a business edge by building a network without any coverage gaps and eliminating packet loss during roaming. This makes it ideal for critical deployments in digital education, digital airport, omnichannel finance, smart healthcare, smart government, and Industry 4.0.

Factors such as need to manage customer traffic and customer movement to boost productivity have accelerated the need for Wi-Fi 6 globally. In addition, an increase on emphasis on customer service across major industry verticals has further boosted the Wi-Fi 6 market growth. However, high initial set-up cost of Wi-Fi 6s restricted the market growth. On the other hand, with many SMEs entering the market and providing advance solutions for Wi-Fi 6 is expected to create greater opportunities during the forecast period. One of the key factors driving the global Wi-Fi 6 industry is the adoption of digital transformation initiatives among companies.

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When businesses use Wi-Fi 6, it reduces the cost of installing a connection that requires a physical connection. Small businesses can compete with large businesses because flexibility is provided by mobilizing people and corporate processes to compete without sacrificing employee efficiency or productivity. Moreover, factors such as an increase in the number of smartphones and an increase in Wi-Fi enabled devices are also boosting the market growth. However, security issues along with range of Wi-Fi 6, which is less than that of the 5 Ghz network hampers the market growth.

By offering, the solution segment dominated the growth of the Wi-Fi 6 market in 2021, and is expected to maintain its dominance in the upcoming years due to rise in need of advanced and capable Wi-Fi solutions for better efficiency and experience. However, the services segment is expected to witness highest growth rate during the forecast period due to the adoption of Wi-Fi 6 services, as they ensure effective functioning of solutions and platforms throughout the process.

By enterprise size, the large enterprises segment dominated the global market in 2021, and is expected to continue this trend during the forecast period, owing to increase in adoption of Wi-Fi 6 solutions to integrate into their existing system. Conversely, the small- & medium-sized enterprises segment is expected to grow at the highest CAGR during the forecast period, owing to surge in adoption of Wi-Fi 6 solutions, as it provides cost-effective, quick transmission of internet and efficient solution for SMEs.

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The key players that operate in the Wi-Fi 6 market analysis are Apple Inc., Aruba Networks, Asustek Computer Inc., AT&T, Broadcom, Cisco Systems, Fortinet Inc., Hewlett-Packard Company, Huawei Technologies, Intel Corporation, Juniper Networks, Linksys Holdings, Inc., Microsoft Corporation, NXP Semiconductors, Qualcomm Inc., Samsung Electronics Co. Ltd, and Sterlite Technologies Limited. These players have adopted various strategies to increase their market penetration and strengthen their position in the Wi-Fi 6 industry.

Key Benefits For Stakeholders:

• This report provides a quantitative analysis of the Wi-Fi 6 Market Forecast, current trends, estimations, and dynamics of the wi-fi 6 market analysis from 2021 to 2031 to identify the prevailing wi-fi 6 market opportunities.

• The market research is offered along with information related to key drivers, restraints, and opportunities.

• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.

• In-depth analysis of the wi-fi 6 market segmentation assists in determining the prevailing market opportunities.

• Major countries in each region are mapped according to their revenue contribution to the global market.

• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.

• The report includes an analysis of the regional as well as global wi-fi 6 market trends, key players, market segments, application areas, and market growth strategies.

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