Dublin, Oct. 31, 2023 (GLOBE NEWSWIRE) -- The "Wi-Fi 7: Global Market Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The global Wi-Fi 7 market is poised for remarkable growth, with an estimated value of USD 1. billion in 2023 and a projected reach of USD 24.2 billion by 2030, signifying a significant CAGR of 57.2% between 2023 and 2030. This exponential growth is primarily attributed to the emergence of various key players in the ecosystem, contributing to a competitive and diverse market. Additionally, government initiatives aimed at establishing smart cities are expected to play a pivotal role in driving the adoption of Wi-Fi 7 technology in the near future.
Quick Summary
In the rapidly evolving technology landscape, the Wi-Fi 7 market is marking significant strides with diverse applications ranging from smart cities, healthcare, to industrial applications. This emergent market holds immense opportunities for key stakeholders seeking to capitalize on this growth trend. Unveiling the nuances of this burgeoning market, our market research report provides an all-encompassing view of key influencers, market leaders, and growth drivers in the Wi-Fi 7 ecosystem.
The report delves into the instrumental role of System on a Chip (SoC) segment in shaping the Wi-Fi 7 landscape, and the potential applications and benefits of Wi-Fi 7 in the healthcare and life sciences sector, including telehealth services and surgical robotics control. Furthermore, the fast-paced growth of wireless technology adoption in the Asia Pacific region mandates an in-depth analysis provided in this report. Bolstered by a granular breakdown of industry experts input, this report is a compendium of key insights for decision-makers navigating the Wi-Fi 7 market.
Hardware and the Role of System on Chip (SoC)
Within the Wi-Fi 7 landscape, the System on Chip (SoC) segment is set to hold the largest market share throughout the forecast period. SoC, short for System on a Chip, is an integrated circuit that consolidates most or all components of a computer or electronic system onto a single chip. These chips find application in an array of devices, spanning smartphones, tablets, laptops, wearables, and smart home devices.
The introduction of Wi-Fi 7 has spurred chipmakers to develop new chipsets that are cost-effective, interoperable, and easily integrated into a wide range of devices employing Wi-Fi technology. SoC, as a crucial component of Wi-Fi 7, plays an integral role in the production of hardware like routers, gateways, modems, access points, smartphones, and laptops, facilitating seamless Wi-Fi 7 connectivity. This technology has witnessed rapid adoption, serving diverse applications, including cloud-based gaming, the Internet of Things (IoT), video streaming, smartphones, laptops, and industrial uses.
Verticals and Healthcare's Fast-Growing Role
In terms of verticals, the healthcare and life sciences segment is anticipated to exhibit the fastest growth rate during the forecast period. Wi-Fi 7, alongside other wireless technologies, is making significant contributions to the healthcare industry. It enables the connection of medical devices to the internet, facilitating remote patient monitoring by healthcare providers. This not only enhances patient care but also reduces costs.
Wi-Fi 7 supports telehealth services, enabling remote consultations between patients and healthcare providers. This expanded accessibility is particularly beneficial for patients in rural areas or those facing travel challenges. Studies have shown substantial cost savings, with telemedicine saving hospitals an average of $1,200 per patient. Furthermore, Wi-Fi 7 plays a pivotal role in controlling surgical robots, enhancing the precision and accuracy of surgical procedures. It also facilitates data collection from medical devices and wearables, which contributes to advancements in medical research, reducing surgical complications and improving patient outcomes.
Asia-Pacific's Prominence in Wireless Technology
The Asia-Pacific region is expected to register the highest growth rate within the Wi-Fi 7 market during the forecast period. The region's ascent in the wireless technology arena has been nothing short of remarkable. Factors contributing to this rapid rise include the sheer scale of the Asian market, with over half of the world's population residing in Asia, creating a substantial potential market for wireless services.
Increased earnings have allowed individuals in Asia to spend more on luxuries, including cellular services, thereby driving demand for wireless products and services. This heightened demand, in turn, has stimulated innovation and investment in the wireless industry. The Asian government's proactive involvement has significantly facilitated the growth of the wireless industry.
Research Coverage and Key Players
The market study comprehensively covers various segments of the Wi-Fi 7 market, estimating market size and growth potential across different categories, including offerings (hardware, solutions, and services), location type, application, vertical, and region. The study also includes an in-depth competitive analysis of key market players. Notable companies in the Wi-Fi 7 market include Qualcomm, Broadcom, TP-Link, ZTE, Mediatek, Keysight Technologies, MaxLinear, Huawei, Commscope, Vantiva, LitePoint, Rohde & Schwarz, Intel, HFCL, Netgear, SDMC Technology, Senscomm Semiconductor, H3C, VVDN Technologies, Actiontec Electronics, ADB Global, Ruijie Networks, and Edgewater Wireless Systems. These industry leaders have adopted various growth strategies, such as partnerships, agreements, collaborations, new product launches, enhancements, and acquisitions to expand their presence in the evolving Wi-Fi 7 market.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 197 |
| Forecast Period | 2023-2030 |
| Estimated Market Value (USD) in 2023 | $1 Billion |
| Forecasted Market Value (USD) by 2030 | $24.2 Billion |
| Compound Annual Growth Rate | 57.2% |
| Regions Covered | Global |
Key Topics Covered
Market Dynamics
- Drivers
- Rising Adoption of IoT
- Mitigation of Network Traffic and Interference Offered by Wi-Fi 7
- Increasing Focus on QoE for End-Users
- Pandemic-Driven Lifestyle Changes Led to Growing Demand for Data-Intensive, Low-Latency Applications and Use Cases
- Restraints
- High Cost of Installation
- Stringent Government Data Regulations and Guidelines
- Opportunities
- Deployment of Openroaming and Passpoint Technology Gathering Pace
- Wi-Fi 7 to Offer Key Areas of Investment for New Connectivity Technologies
- Growing Adoption of 5G Technology
- Challenges
- High Probability of Spectrum Congestion
Value Chain Analysis
- Government Regulatory Authorities
- Wi-Fi Solution Providers
- Service Providers
- System Integrators
- Original Equipment Manufacturers
- Customer Premises Equipment/Connectivity Hardware Providers
- Mobile Network Operators
Ethics and Implications of Wi-Fi 7
- Bias and Fairness
- Privacy and Security
- Intellectual Property
- Accountability and Responsibility
- Societal and Economic Impact
Technology Analysis
- Related Technologies
- Target Wake Time (TWT)
- Orthogonal Frequency-Division Multiple Access (OFDMA)
- Multi-Link Operation (MLO)
- Adjacent Technologies
- Wimax
- Multefire
- LTE
- 5G Network
Current and Emerging Business Models
- SaaS Model
- Consulting Services Model
- Revenue Sharing Model
- Managed Services Model
Regulatory Landscape
- Regulatory Bodies, Government Agencies, and Other Organizations
- North America
- Europe
- Asia-Pacific
- Middle East & Africa
- Latin America
Use Cases
- Transportation and Logistics
- FedEx Uses Wi-Fi 7 to Automate Its Warehouses
- Healthcare and Life Sciences
- Cisco Uses Wi-Fi 7 to Develop New Telehealth Solutions
Future Landscape of Market
- Wi-Fi 7 Technology Roadmap Till 2030
- Short-Term Roadmap (2023-2025)
- Mid-Term Roadmap (2026-2028)
- Long-Term Roadmap (2029-2030)
Companies Mentioned
- Actiontec Electronics
- ADB Global
- Broadcom
- Commscope
- Edgewater Wireless Systems
- H3C
- HFCL
- Huawei
- Intel
- Keysight Technologies
- Litepoint
- Maxlinear
- Mediatek
- Netgear
- Qualcomm
- Rohde & Schwarz
- Ruijie Networks
- Sdmc Technology
- Senscomm Semiconductor
- TP-Link
- Vantiva
- VVDN Technologies
- ZTE
For more information about this report visit https://www.researchandmarkets.com/r/dljyiv
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