The Wi-Fi Market is valued at around USD 11.1 Billion in 2022 and is expected to reach USD 74.1 Billion by 2030, registering a CAGR of 18.9% over the forecast period.
A wireless networking technique known as wireless fidelity (Wi-Fi) is used to link various electronic devices, such as laptops, desktop computers, smartphones, and wearables, with the internet. It works by transmitting radio signals from the wireless router to close-by devices, which convert the signal into data.
These waves are further decoded, then sent back to the router to help with the wired and wireless internet connection. Wi-Fi is widely utilised in many applications because it provides increased flexibility, scalability, reliability, convenience, and mobility at affordable pricing. It is currently offered commercially in enterprise-class and high-density Wi-Fi density versions.
The demand for Wi-Fi is increasing for portable devices like laptops, smartphones, and other devices, and the Internet of Things (IoT) and the Bring Your Own Device (BYOD) trend are being implemented by more businesses globally, opening up opportunities to build smart infrastructure and boost worker productivity.
Other factors influencing the market’s revenue growth include the growing demand for integrated security in IoT cloud management and mobile operators’ deployment of carrier Wi-Fi.
Wi-Fi offers a standard platform that operates at various levels of signal range and power consumption for both narrowband and broadband Internet of Things applications. In addition, social media’s growing popularity, people’s increased use of the Internet, and expanding media consumption are all contributing to the Wi-Fi market’s revenue growth.
Additionally, increased need for better data connections results in quicker information transfer among organisations, which in turn fuels market revenue development. However, rising internet adoption coupled with an increase in sales of intelligent and connected devices like smartphones, IoT devices, etc. and the ensuing implementation of a nationwide lockdown due to the abrupt emergence of the COVID-19 pandemic has led to the employment of Internet of Things (IoT) and Bring Your Own Device (BYOD) corporate models, which are fueling the market’s revenue growth. Through the use of radio technology and private and public networks, Wi-Fi enables computers and mobile devices to connect to the Internet.
A network is a crucial element that helps firms grow and, to a certain extent, lessens operational challenges. As an illustration, “hot spot” Wi-Fi services have been installed at a number of airport departure lounges, railroad stations, hotels, cafes, and restaurants to allow customers to connect their devices, such as mobile and laptop, with the internet.
The Wi-Fi Market – Segmentation
The Wi-Fi Market fragrance concentrates market has been sub-classified into component, density, location type, organisation size, industry vertical.
On the basis of component, the Wi-Fi Market is bifurcated into:
- Hardware
- Solutions
- Services
- Others
On the basis of location type, the market is segmented into:
- High-density WIFI
- Enterprise class WIFI
- Others
On the basis of organisation size, the market segmented into:
- Large enterprises
- Small and medium-sized enterprises
- Others
On the basis of industrial vertical, the market segmented into:
- Education
- BFSI
- Healthcare
- Logistics and transportation
- Retail
- Government
- Others
The Wi-Fi Market – Key Market players
Global key players of Wi-Fi Market include AT&T Inc., Broadcom Inc., Cisco Systems Inc., Extreme Networks, Fortinet Inc., Fujitsu Limited, Hewlett Packard Enterprise Company, Huawei Technologies Co. Ltd., Juniper Networks Inc., Motorola Solutions Inc., Panasonic Corporation, Singapore Telecommunications Limited, Telefonaktiebolaget LM Ericsson, Telstra Corporation Limited and Ubiquiti Inc., and others.
Frequently Asked Questions
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