Empowering Connectivity: Wi-Fi 6 Market Forecast and Opportunities 2024

The wi-fi 6 market size has grown exponentially in recent years. It will grow from $17.24 billion in 2023 to $23.56 billion in 2024 at a compound annual growth rate (CAGR) of 36.7%. The growth in the historic period can be attributed to surge in the number of connected devices, increased demand for higher data transfer speeds, growing use of bandwidth-intensive applications, wi-fi network congestion and interference issues, evolving internet usage patterns and multimedia streaming.

The wi-fi 6 market size is expected to see exponential growth in the next few years. It will grow to $76.32 billion in 2028 at a compound annual growth rate (CAGR) of 34.2%. The growth in the forecast period can be attributed to proliferation of iot devices and smart home applications, accelerated adoption of wi-fi 6 in enterprise environments, expansion of 5g networks and integration with wi-fi 6, rising demand for low-latency and high-performance connectivity, enhanced security features in wi-fi 6 standards. Major trends in the forecast period include implementation of orthogonal frequency division multiple access (ofdma), increased use of mu-mimo (multi-user, multiple input, multiple output) technology, growing deployment of wi-fi 6 in public spaces and venues, integration of wi-fi 6 in wi-fi mesh networks, development of wi-fi 6e for extended spectrum usage in the 6 ghz band.

Market Overview -
Wi-Fi 6 refers to the next-generation standard in WiFi technology. WiFi 6, also known as AX WiFi or 802.11ax WiFi, builds on and improves on the current 802.11ac WiFi standard. WiFi 6 was originally built in response to the growing number of devices in the world. WiFi 6 (802.11ax) is designed to improve speed, increase efficiency, and reduce congestion in heavy bandwidth usage scenarios.

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Rising Deployment Of Public Wi-Fi Fuels The Demand For Wi-Fi 6 Technology
Increasing deployment of public Wi-Fi is expected to propel the growth of the Wi-Fi 6 market. These hotspots are so common that people connect to them automatically. Users may use the internet for free because of Wi-Fi, which is available in many places such as hotels, malls, coffee shops, and restaurants. Since it theoretically provides a higher speed, Wi-Fi 6 is regarded as the standard for the future. For instance, in September 2021, according to the Global Economic Value of Wi-Fi 2021-2025 report of the Wi-Fi Alliance, a US-based non-profit organization that certifies Wi-Fi products, the currently free public Wi-Fi access points for use in France were 1.2 million, and 87 percent of internet consumers have access to Wi-Fi at home. Therefore, demand for Wi-Fi 6 will rise as the prevalence of the growing deployment of public Wi-Fi rises.

Competitive Landscape -
Major companies operating in the wi-fi 6 market report are Cisco Systems Inc., Intel Corporation, Huawei Technologies Co. Ltd., NETGEAR Inc., Juniper Networks Inc., Qualcomm Technologies Inc., Broadcom Inc., Extreme Networks Inc., Ubiquiti Inc., Fortinet Inc., Aruba Networks, NXP Semiconductors N. V., American Telephone and Telegraph Company, D-Link Corporation, Alcatel-Lucent Enterprise, TP-Link Technologies Co. Ltd., MediaTek Inc., Samsung Electronics Co. Ltd., Microsoft Corporation, Aerohive Networks Inc., Ruckus Networks, Zhongxing Telecommunication Equipment Corporation (ZTE), Nippon Electric Company Corporation (NEC), Nokia Corporation, Ericsson AB, Mist Systems, Cambium Networks Corporation, CommScope Inc., Hewlett Packard Enterprise Company

Wi-Fi 6 Market's Evolution Through Technological Advancements
Technological advancements are a key trend gaining popularity in the Wi-Fi 6 market. Major companies operating in the Wi-Fi 6 market are focused on developing new technological solutions flexible across other elements driving the expansion of technology such as traffic prioritization, OFDMA, and beamforming. Additionally, more secure, the new protocol makes use of SAE and other cutting-edge encryption techniques. The more recent 6 GHz frequency band is available to Wi-Fi 6-capable devices, allowing for better connectivity. For instance, in December 2021, Huawei a China-based multinational technology corporation and manufacturer of telecommunications equipment company launched AirEngine 6760-X1 & 6760-X1E, which provide high-quality signal coverage with no blind spots by efficiently increasing signal strength and enabling signals to follow people. Alternately, the AirEngine 6760-X1E can be coupled with several external antennae to adapt to challenging settings, including high-rise constructions and limited hallways.

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Key Segments -

The wi-fi 6 market covered in this report is segmented -

1) By Offering: Hardware, Solution, Services
2) By Devices: Mesh Routers, Wireless Access Points, Home Gateways, Wireless Repeaters
3) By Commercial Use: Enterprises, Consumers
4) By End Users: Education, Retail and E-Commerce, Healthcare, Government, Hospitality, Transportation and Logistics, Manufacturing, Consumer Electronics, Augmented reality and Virtual Reality (AR/VR), Smart Cities

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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