Redding, California, Jan. 05, 2022 (GLOBE NEWSWIRE) -- According to a new market research report titled " Wi-Fi 6 Market by Device (Mesh Routers, Access Points, Home Gateways, Repeaters), Commercial Use (Enterprises, Consumers), Application (Consumer Electronics, Healthcare, Manufacturing, Smart Cities, AR/VR, Others), and Geography — Global Forecasts to 2028", published by Meticulous Research®, the Wi-Fi 6 market is expected to grow at a CAGR of 73.8% by value to reach $105.4 billion by 2028.
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Wi-Fi 6 is the next generation of Wi-Fi used to improve the network when a high number of devices are connected. Wi-Fi 6 devices such as mesh routers, wireless access points, home gateways, and wireless repeaters provide fast speed, increased efficiency, and transfer data more efficiently than previous generations of Wi-Fi.
Wi-Fi 6 offers buffer-free streaming and faster downloads and can connect several smart home devices without affecting the latency. The companies manufacturing Wi-Fi 6 devices use Wi-Fi 6 technology across various applications, such as consumer electronics, AR/VR, retail, healthcare, manufacturing, and smart cities.
Increasing demand for high-speed internet connection, the growing number of internet users and devices, rising adoption of Wi-Fi 6 devices across various smart home applications, increasing investments in smart city projects, and continued upgrades in Wi-Fi standards are the major factors driving the growth of the Wi-Fi 6 market.
Impact of COVID-19 on the Wi-Fi 6 Market
The COVID-19 pandemic caused widespread economic downturns in the global economy as several countries imposed strict lockdowns to contain the infection. The pandemic severely affected several industry verticals such as consumer electronics, healthcare, manufacturing, and retail. Wi-Fi networks significantly contributed to national resilience during the COVID-19 pandemic due to increased internet traffic, the need to maintain high-performance supply and distribution chains, purchasing goods and services online via e-commerce, using e-health applications, and attending school online through virtual platforms.
The COVID-19 pandemic led numerous organizations to shift to a work-from-home business model. As the pandemic prevails, several employers and organizations plan to continue this business model and allow their employees to work from home. The growing usage of applications, such as video conferencing, telemedicine, and navigation systems, has resulted in network congestion, making devices slow. To overcome this problem, several users have started switching to Wi-Fi 6 access points and routers for providing efficient high-speed coverage across multiple users, improved network efficiency, longer device battery life, and low latency rates.
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Wi-Fi 6 Market Overview
The Wi-Fi 6 market is segmented based on devices, commercial use, application, and geography. This study also evaluates industry competitors and analyzes the market at the country level.
Based on devices, the Wi-Fi 6 market is segmented into mesh routers, wireless access points, home gateways, and wireless repeaters. The wireless access point segment is expected to account for the largest share of the overall Wi-Fi 6 market in 2021. The large market share of this segment is attributed to the ability of Wi-Fi 6 technology to extend the Wi-Fi range by adding more access points across enterprises and homes and the rising adoption of Wi-Fi 6 to support dual-band Wi-Fi for connecting multiple devices. However, the mesh routers segment is projected to grow at the highest CAGR during the forecast period. The high growth rate of this segment is attributed to its ease of access to the internet, high mobility, and the ability to connect multiple devices with the router, each having a distinctive IP address.
Based on commercial use, the Wi-Fi 6 market is segmented into enterprises and consumers. The enterprise segment is expected to account for the largest share of the overall Wi-Fi 6 market in 2021. The large market share of this segment is attributed to the growing adoption of high-speed Wi-Fi access points across outdoor and indoor enterprises due to its high-performance multi-radio routing protocols and uninterrupted coverage. However, the consumers segment is expected to grow at the highest CAGR during the forecast period. The high growth rate of this segment is attributed to the faster speed, enhanced security, and lower latency provided by Wi-Fi 6 among electronic devices used by consumers.
Based on application, the Wi-Fi 6 market is segmented into consumer electronics, healthcare, AR/VR, retail, manufacturing, smart cities, and other applications. The consumer electronics segment is expected to account for the largest share of the overall Wi-Fi 6 market in 2021. The large market share of this segment is attributed to increased battery life, multi-device connection, reduced terminal device power consumption, and higher data transfer provided by Wi-Fi 6 across electronic devices. However, the smart cities segment is expected to grow at the highest CAGR during the forecast period. The high growth rate of this segment is attributed to numerous features provided by Wi-Fi 6, such as real-time travel updates or on-demand entertainment, simplification of network and device management, and real-time operational and business data collection.
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Based on geography, North America is expected to account for the largest share of the global Wi-Fi 6 market in 2021 by value. The large market share is attributed to the presence of major Wi-Fi 6 device manufacturing companies in the region, rising adoption of Wi-Fi connected devices at homes, and increasing demand for high-speed internet connections across North America. Countries such as the U.S. and Canada are the major contributors to the rising adoption of Wi-Fi 6 technology across the region. The U.S. Government and the Canadian Government are involved in various initiatives to promote the adoption of Wi-Fi 6 technology across their respective countries. For instance, in December 2020, the Federal Communications Commission approved Broadcom's BCM4389 chip as a Wi-Fi device to operate in the 6 GHz band. The ability to leverage the 6 GHz band for unlicensed Wi-Fi operation is referred to as Wi-Fi 6E to deliver faster connectivity speeds and improved capacity.
In 2021, Asia-Pacific region is expected to hold the second position in terms of market share in the Wi-Fi 6 market by value. The large market share is attributed to the growing consumer demand for the internet, rising number of connected devices, and high demand for public Wi-Fi hotspots in the region. Countries such as China, Japan, India, and South Korea are the major adopters of Wi-Fi 6 technology in the region. The development of highly advanced Wi-Fi 6 devices with high-speed data, longer battery life, and widespread Wi-Fi coverage have encouraged various public and private companies to adopt Wi-Fi 6 technology across the region.
The key players operating in the global Wi-Fi 6 market are Cisco Systems, Inc. (U.S.), Cypress Semiconductor Corporation (U.S.), Aruba Networks (U.S.), D-Link Corporation (Taiwan), Marvell Technology, Inc. (U.S.), KAONMEDIA Co., Ltd. (Korea), Ruckus Wireless, Inc. (U.S.), Cambium Networks Corporation (U.S.), Linksys Holdings, Inc. (U.S.), AsusTek Computer Inc. (Taiwan), TP-Link Corporation Limited (China), NETGEAR, Inc. (U.S.), Intel Corporation (U.S.), Huawei Technologies Co., Ltd. (China), and Juniper Networks, Inc. (U.S.) among others.
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Scope of the Report
Wi-Fi 6 Market, by Devices
- Mesh Routers
- Wireless Access Points
- Home Gateways
- Wireless Repeaters
Wi-Fi 6 Market, by Commercial Use
- Enterprises
- Consumers
Wi-Fi 6 Market, by Application
- Consumer Electronics
- AR/VR
- Retail
- Healthcare
- Manufacturing
- Smart Cities
- Other Applications
Wi-Fi 6 Market, by Geography
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- South Korea
- India
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
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