Wi-Fi 6 Market Size to Hit USD 42.98 Billion By 2030 | Growing Need for High-Speed Internet Connection in Smart City Projects Globally Propels Growth: The Brainy Insights

The rising need for better networks, the increasing number of devices and internet users, the growing adoption of Wi-Fi 6 devices across different smart home applications, and continual advancements in Wi-Fi standards are the primary elements that are pushing the growth of the Wi-Fi 6 market. Asia Pacific region emerged as the largest market for the global Wi-Fi 6 market with a 34.5% share of the market revenue in 2021.

Newark, Oct. 12, 2022 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global Wi-Fi 6 market is expected to grow from USD 9.84 billion in 2021 to USD 42.98 billion by 2030, at a CAGR of 17.80% during the forecast period 2022-2030.

The increasing number of interconnected devices and internet users constantly raises the need for efficient Wi-Fi networks. Wi-Fi 6 technology has solved these issues by delivering well-organized networks and allowing the comfortable connection of several devices with different bandwidth needs to Wi-Fi. Elements such as high data rates, exceptional performance in the circumstances with multiple connected devices, and enhanced power efficiency are propelling the growth of the Wi-Fi 6 market. The Cisco Wi-Fi hotspots are predicted to reach 627 million public Wi-Fi hotspots by 2023, and Wi-Fi 6 hotspots will be 10.5 % of all public Wi-Fi hotspots in the coming time. All the countries are taking multiple government initiatives to distribute public Wi-Fi hotspots faster. For example, the Government of India approved a framework named PM Wi-Fi Access Network Interface or PM WANI plan for the expansion of public Wi-Fi networks. The step was taken to promote wireless internet connectivity in the country.

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Wi-Fi 6 Market Report Scope

Report AttributesDetails
Market Size (2030)Around $42.98 Billion
Market Size (2021)$9.84 Billion
CAGR (2022-2030)Over 17.80%
Base Year2021
Forecast Year2022-2030
Market SegmentsLocation Type, Offering, Vertical, Regions
Geographic AnalysisNorth America, Europe, South America, Asia Pacific, the Middle East, and Africa

Competitive Strategy

To enhance their market position in the global Wi-Fi 6 market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.

• Juniper Networks declared two new 6 GHz key points that influence Mist AI. It aims to maximize Wi-Fi execution and power while streamlining IT processes. Wi-Fi 6E is the latest wireless standard that extends network power by creating a more significant amount of RF range open in the 6 GHz spectrum to count to the current 5 GHz & 2.4 GHz bands In November 2021.

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Market Growth & Trends

Using Wi-Fi 6 across industries helps companies lower the installation price of connections, including physically wired connections. In addition to price savings, Wi-Fi 6 gives companies the flexibility to move or change their location if needed. Mobility & flexibility are also provided to employees who must stay connected with the mainframe server operating portable devices. It permits company owners to track numerous parts of businesses and the personnel working without being limited to one location. The flexibility showed that mobilizing the workforce and company operations enables small businesses to compete with larger organizations without compromising the productivity & efficiency of employees. Business communication is crucial in companies' development with clients or consumers in remote locations. The features delivered by Wi-Fi 6 help in interpersonal contact, data sharing, and data exchange from any part of the world. Therefore, the global market for Wi-Fi 6 will grow at an appropriate rate during the projection period.

Key Findings

• In 2021, the outdoor segment dominated the market with the largest market share of 57% and market revenue of 5.60 billion.
The location type segment is divided into outdoor & indoor. In 2021, the outdoor segment dominated the market with the largest market share of 57% and market revenue of 5.60 billion. Outdoor Wi-Fi 6 works in the 2.4 or 5 GHz frequency and can reach throughputs up to 1.7 Gbps. Actual throughputs rely on consumer devices and the type of wireless access points. Outdoor access points are usually deployed with several antennas concentrating on the wireless range for a particular location.

• In 2021, the service segment dominated the market with the largest market share of 35% and market revenue of 3.44 billion.

The offering segment is divided into solution, services, & hardware. In 2021, the service segment dominated the market with the largest market share of 35% and market revenue of 3.44 billion. Wi-Fi network providers give various forms of services via a subscription-based model. Wi-Fi 6 permits service providers and enterprises to help recent and emerging applications on the similar Wireless Local area network (LAN) infrastructure while providing high-quality service to consumers.

• In 2021, the consumer electronics segment dominated the market with the largest market share of 27% and market revenue of 2.65 billion.

The vertical segment is divided into government, consumer electronics education, manufacturing, and healthcare. In 2021, the consumer electronics segment dominated the market with the largest market share of 27% and market revenue of 2.65 billion. The considerable market share of the segment is owing to less terminal device power consumption, extended battery life, multi-device connection, and high data transfer delivered by Wi-Fi 6 in all electronic devices.

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Regional Segment Analysis of the Wi-Fi 6 Market

• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

Among all regions, the Asia Pacific region emerged as the largest market for the global Wi-Fi 6 market, with a market share of around 34.5% and 3.55 billion of the market revenue in 2021. In the Asia Pacific, many growing economies and countries are using the latest technologies to comply with instructions for improving the efficiency of economic systems. The major countries include China, Japan, Singapore, Australia, India, and New Zealand. The region is anticipated to notice the fast-paced adoption of Wi-Fi 6 software.

Key players operating in the global Wi-Fi 6 market are:

• TP-Link Technologies Co., Ltd.
• Samsung Electronics
• Qualcomm Inc.
• Microsoft Corporation
• Marvell Semiconductor Inc.
• Intel Corporation
• Huawei Technologies Co. Ltd.
• HP Enterprise
• Fujitsu Ltd.
• D-Link Corporation
• Dell Inc.
• Cypress Semiconductor Corp
• Cisco Systems, Inc.
• Broadcom Corp.
• Apple Inc

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This study forecasts revenue at global, regional, and country levels from 2019 to 2030. The Brainy Insights has segmented the global Wi-Fi 6 market based on the below-mentioned segments:

Global Wi-Fi 6 Market by Location Type:

• Outdoor
• Indoor

Global Wi-Fi 6 Market by Offering:

• Solution
• Services
• Hardware

Global Wi-Fi 6 Market by Vertical:

• Government
• Consumer Electronics
• Education
• Manufacturing
• Healthcare

About the report:

The global Wi-Fi 6 market is analyzed based on value (USD Billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.

About The Brainy Insights:

The Brainy Insights is a market research company that provides actionable insights through data analytics to companies to improve their business acumen. They have a robust forecasting and estimation model to meet the client's objectives of high-quality output within a short period. They provide both customized (client-specific) and syndicate reports. Their repository of syndicate reports is diverse across all the categories and sub-categories across domains. Their customized solutions meet the client's requirements whether they are looking to expand or planning to launch a new product in the global market.

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