Pune, Sept. 25, 2023 (GLOBE NEWSWIRE) -- The SNS Insider report indicates that “The Wi-Fi 6 Market, which had a valuation of USD 5.6 billion in 2022, is projected to expand substantially, reaching USD 43.46 billion by 2030, with a robust compound annual growth rate (CAGR) of 29.2% forecasted for the period spanning 2023 to 2030”.
Market Overview
Wi-Fi 6, also known as 802.11ax, is the latest generation of wireless networking technology that was developed to provide faster and more efficient wireless communication compared to its predecessor, Wi-Fi 5 (802.11ac). This advanced technology brings several significant improvements and innovations to the world of wireless networking, promising a better and more reliable user experience for a wide range of devices. While the primary focus of Wi-Fi 6 is on speed and capacity, it also offers improved coverage and range compared to previous Wi-Fi standards. This means fewer dead spots in your wireless network.
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Market Analysis
The Wi-Fi 6 market is poised for substantial growth in the coming years, driven by several key factors that contribute to its rapid adoption and expansion. The proliferation of smart devices, IoT (Internet of Things) gadgets, and the continued growth of mobile devices has put immense pressure on existing Wi-Fi networks. Wi-Fi 6, with its improved capacity and efficiency, can handle a higher number of devices simultaneously, making it ideal for modern homes and enterprises. Enterprises are increasingly upgrading their networks to Wi-Fi 6 to support the growing number of connected devices in the workplace. This technology enables better productivity and efficiency in business operations. As the Internet of Things continues to expand, Wi-Fi 6's ability to handle numerous low-power, low-data-rate devices in a single network becomes essential. This makes it an attractive option for IoT deployments in industries like healthcare, manufacturing, and agriculture.
Wi-Fi 6 Market Overview & Scope:
| Report Attributes | Details |
| Market Size in 2022 | USD 5.6 billion |
| Market Size by 2030 | USD 43.46 billion |
| CAGR | CAGR of 29.2% from 2023-2030 |
| Key Segments | By Offering (Hardware, Solutions, Services) By Location Type (Indoor, Outdoor) By Vertical (Retail and Ecommerce, Government and Public Sector, Manufacturing, Media and Entertainment, Healthcare and Life Sciences, Transportation and Logistics, Travel and Hospitality, Education, Residential, Other Verticals) By Application (Immersive Technologies, HD Video Streaming and Video Streaming, Smart Home Devices, loT and Industry 4.0, Telemedicine, Public Wi-Fi and Dense Environments, Other Applications) |
| Key Market Players | Cisco Systems Inc. (US), Qualcomm Technologies Inc. (US), Broadcom Inc (US), Intel Corporation (US), Huawei technologies (China), NETGEAR Inc (US), Juniper Networks Inc (US), Extreme Networks Inc. (US) Ubiquiti Inc. (US), Fortinet Inc. (US), Aruba Networks (US), NXP Semiconductors (Netherlands), AT&T (US), D-Link Corporation (Taiwan), and other players |
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Key Takeaway from Wi-Fi 6 Market Study
- As the e-commerce industry continues its expansion, Wi-Fi 6 is poised to become the backbone of this digital marketplace. Its role in speeding up loading times, enabling seamless video streaming, enhancing mobile shopping experiences, ensuring secure transactions, and providing scalability positions Wi-Fi 6 as the technology of choice for e-commerce platforms seeking to deliver superior online shopping experiences to customers worldwide.
- Telemedicine is revolutionizing the healthcare industry, and its convergence with Wi-Fi 6 technology is set to dominate the market. The telemedicine segment harnesses the power of Wi-Fi 6 to deliver remote healthcare services, transforming the way patients’ access medical care and healthcare professionals deliver it.
Recent Developments
- Cisco has unveiled an exciting addition to its networking portfolio with the launch of a Wi-Fi 6 access point designed specifically to cater to the needs of small and medium-sized businesses (SMBs). SMBs can prioritize critical applications, ensuring that essential tasks receive the necessary network resources for optimal performance.
- Nordic Semiconductor, a leading player in the wireless connectivity space, has recently made waves in the Internet of Things (IoT) industry by unveiling their latest innovation: a low-cost 2.4 GHz-only Wi-Fi 6 chip designed specifically for IoT applications.
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Market Dynamics Analysis
The Wi-Fi 6 market is characterized by a dynamic interplay of drivers, restraints, challenges, and threats that shape its trajectory. A significant driver propelling the adoption of Wi-Fi 6 technology is the ever-increasing demand for faster and more reliable wireless connectivity, especially in the era of IoT (Internet of Things) and the proliferation of bandwidth-hungry applications. Wi-Fi 6's ability to offer higher data rates, reduced latency, and improved performance in crowded environments fuels its adoption across various industries. Additionally, the COVID-19 pandemic accelerated the need for robust home networks, further boosting the market. However, there are notable restraints, including the cost of upgrading existing infrastructure to support Wi-Fi 6, which might deter budget-conscious organizations. Furthermore, interoperability issues and the need for widespread device support remain challenges. Security threats, such as potential vulnerabilities in the new technology, are also a concern, necessitating rigorous cybersecurity measures.
Key Regional Developments
North America, particularly the United States, has been at the forefront of Wi-Fi 6 adoption. The region has seen robust growth due to early awareness and a strong demand for high-speed, low-latency connectivity. The tech-savvy population, coupled with the proliferation of IoT devices, has driven both consumer and enterprise adoption. The Asia-Pacific region, including countries like China, Japan, and South Korea, has witnessed rapid expansion in the Wi-Fi 6 market. This growth can be attributed to the region's large population, increasing urbanization, and a rising number of smart city projects. The European Union's emphasis on digitalization and smart infrastructure has played a role in boosting the deployment of Wi-Fi 6, especially in urban centers.
Impact of Recession
The impact of an ongoing recession on the Wi-Fi 6 market is characterized by challenges related to reduced budgets and discretionary spending. However, it is not a one-size-fits-all scenario, as some organizations may view technology upgrades as a strategic investment for future competitiveness. Economic stimulus measures and pricing adjustments can also play a role in influencing Wi-Fi 6 adoption rates during a recession. Ultimately, the long-term growth of Wi-Fi 6 is likely to persist as the economy recovers and technology remains an integral part of daily life.
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TABLE OF CONTENT
- Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 Impact of the Ukraine- Russia war
4.2 Impact of ongoing Recession
4.2.1 Introduction
4.2.2 Impact on major economies
4.2.2.1 US
4.2.2.2 Canada
4.2.2.3 Germany
4.2.2.4 France
4.2.2.5 United Kingdom
4.2.2.6 China
4.2.2.7 Japan
4.2.2.8 South Korea
4.2.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Wi-Fi 6 Market Segmentation, By Offering
8.1 Hardware
8.1.1 Wireless Access Points
8.1.2 Mesh Routers
8.1.3 Home Gateways
8.1.4 Wireless Controllers
8.1.5 System on Chip
8.1.6 Other Hardware
8.2 Solutions
8.3 Services
8.3.1Professional Services
8.3.1.1 Consulting
8.3.1.2 Deployment & Integration
8.3.1.3 Support & Maintenance
8.3.2 Managed Services
- Wi-Fi 6 Market Segmentation, By Location Type
9.1 Indoor
9.2 Outdoor
- Wi-Fi 6 Market Segmentation, By Vertical
10.1 Retail and Ecommerce
10.2 Government and Public Sector
10.3 Manufacturing
10.4 Media and Entertainment
10.5 Healthcare and Life Sciences
10.6 Transportation and Logistics
10.7 Travel and Hospitality
10.8 Education
10.9 Residential
10.10 Other Verticals
11. Wi-Fi 6 Market Segmentation, By Application
11.1 Immersive Technologies
11.2 HD Video Streaming and Video Streaming
11.3 Smart Home Devices
11.4 loT and Industry 4.0
11.5 Telemedicine
11.6 Public Wi-Fi and Dense Environments
11.7 Other Applications
12. Regional Analysis
12.1 Introduction
12.2 North America
12.2.1 USA
12.2.2 Canada
12.2.3 Mexico
12.3 Europe
12.3.1 Eastern Europe
12.3.1.2 Poland
12.3.1.3 Romania
12.3.1.4 Hungary
12.3.1.5 Turkey
12.3.1.6 Rest of Eastern Europe
12.3.2 Western Europe
12.3.2.1 Germany
12.3.2.2 France
12.3.2.3 UK
12.3.2.4 Italy
12.3.2.5 Spain
12.3.2.6 Netherlands
12.3.2.7 Switzerland
12.3.2.8 Austria
12.3.2.9 Rest of Western Europe
12.4 Asia-Pacific
12.4.1 China
12.4.2 India
12.4.3 Japan
12.4.4 South Korea
12.4.5 Vietnam
12.4.6 Singapore
12.4.7 Australia
12.4.8 Rest of Asia-Pacific
12.5 Middle East & Africa
12.5.1 Middle East
12.5.1.1 UAE
12.5.1.2 Egypt
12.5.1.3 Saudi Arabia
12.5.1.4 Qatar
12.5.1.5 Rest of Middle East
12.5.2. Africa
12.5.2.1 Nigeria
12.5.2.2 South Africa
12.5.2.3 Rest of Africa
12.6. Latin America
12.6.1 Brazil
12.6.2 Argentina
12.6.3 Colombia
12.6.4 Rest of Latin America
13 Company Profile
13.1 Cisco Systems Inc. (US)
13.1.1 Company Overview
13.1.2 Financials
13.1.3 Products/ Services Offered
13.1.4 SWOT Analysis
13.1.5 The SNS View
13.2 Qualcomm Technologies Inc. (US)
13.3 Broadcom Inc (US)
13.4 Intel Corporation (US)
13.5 Huawei technologies (China)
13.6 NETGEAR Inc (US)
13.7 Juniper Networks Inc (US)
13.8 Extreme Networks Inc. (US)
13.9 Ubiquiti Inc. (US)
13.10 Fortinet Inc. (US)
13.11 Aruba Networks (US)
13.12 NXP Semiconductors (Netherlands)
13.13 AT&T (US)
13.14 D-Link Corporation (Taiwan)
14. Competitive Landscape
14.1 Competitive Bench marking
14.2 Market Share Analysis
14.3 Recent Developments
14.3.1 Industry News
14.3.2 Company News
14.3.3 Mergers & Acquisitions
15. USE Cases and Best Practices
16. Conclusion
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