PUBLISHER: The Business Research Company | PRODUCT CODE: 1392983
PUBLISHER: The Business Research Company | PRODUCT CODE: 1392983
“Wi-Fi 6 Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on wi-fi 6 market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for wi-fi 6? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The wi-fi 6 market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Wi-Fi 6, also known as AX WiFi or 802. 11ax WiFi, represents the next-generation standard in WiFi technology. It builds upon and enhances the existing 802. 11ac WiFi standard. WiFi 6 was developed in response to the increasing number of devices in the world, aiming to improve speed, enhance efficiency, and alleviate congestion in scenarios with heavy bandwidth usage.
The key components of Wi-Fi 6 offerings include hardware, solutions, and services. Achieving optimal performance with WiFi 6 necessitates new hardware since software updates may not be as effective as hardware updates. To benefit from this technology, a WiFi 6-capable router is essential, despite the fact that most home devices already support WiFi 6. Devices associated with WiFi 6 include mesh routers, wireless access points, home gateways, and wireless repeaters. Commercial usage spans enterprises and consumers, while end-users encompass education, retail, e-commerce, healthcare, government, hospitality, transportation and logistics, manufacturing, consumer electronics, augmented reality and virtual reality (AR/VR), and smart cities.
The Wi-Fi 6 market research report is one of a series of new reports from The Business Research Company that provides Wi-Fi 6 market statistics, including Wi-Fi 6 industry global market size, regional shares, competitors with a Wi-Fi 6 market share, detailed Wi-Fi 6 market segments, market trends and opportunities, and any further data you may need to thrive in the Wi-Fi 6 industry. This Wi-Fi 6 market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The wi-fi 6 market size has grown exponentially in recent years. It will grow from $17. 24 billion in 2023 to $23. 56 billion in 2024 at a compound annual growth rate (CAGR) of 36. 7%. The growth observed in the historic period can be attributed to several factors, including a surge in the number of connected devices, an increased demand for higher data transfer speeds, the growing use of bandwidth-intensive applications, Wi-Fi network congestion and interference issues, and evolving internet usage patterns, particularly related to multimedia streaming.
The wi-fi 6 market size is expected to see exponential growth in the next few years. It will grow to $76. 32 billion in 2028 at a compound annual growth rate (CAGR) of 34. 2%.
The anticipated growth in the forecast period can be attributed to various factors, including the proliferation of IoT devices and smart home applications, the accelerated adoption of Wi-Fi 6 in enterprise environments, the expansion of 5G networks and their integration with Wi-Fi 6, a rising demand for low-latency and high-performance connectivity, and enhanced security features within Wi-Fi 6 standards. Major trends expected in the forecast period include the implementation of Orthogonal Frequency Division Multiple Access (OFDMA), increased utilization of MU-MIMO (Multi-User, Multiple Input, Multiple Output) technology, the growing deployment of Wi-Fi 6 in public spaces and venues, the integration of Wi-Fi 6 in Wi-Fi mesh networks, and the development of Wi-Fi 6E, extending spectrum usage into the 6 GHz band.
The growth of the Wi-Fi 6 market is anticipated to be propelled by the increasing deployment of public Wi-Fi. These ubiquitous hotspots, found in various locations such as hotels, malls, coffee shops, and restaurants, enable users to access the internet effortlessly. Wi-Fi 6, considered the future standard, is particularly noteworthy due to its theoretical capability to provide higher speeds. For example, the Wi-Fi Alliance's Global Economic Value of Wi-Fi 2021-2025 report highlighted that France had 1. 2 million free public Wi-Fi access points as of September 2021, with 87% of internet consumers having Wi-Fi access at home. As the prevalence of public Wi-Fi continues to grow, the demand for Wi-Fi 6 is expected to rise.
The Wi-Fi 6 market is also set to experience growth due to the increasing adoption of the Internet of Things (IoT) ecosystem. The IoT involves the interconnectedness of physical devices, appliances, and other items with software, sensors, and internet connectivity. Wi-Fi 6's advancements in speed, capacity, efficiency, and security make it an ideal technology for various IoT applications, catering to the diverse needs of the interconnected devices in today's digital landscape. According to the IoT Analytics GmbH State of IoT Spring 2023 report, the number of worldwide IoT connections is projected to grow by 18% to 14. 3 billion active IoT terminals in 2022, with the total number of connected IoT devices expected to reach 16. 7 billion active endpoints by 2023. The increasing adoption of the IoT ecosystem is a driving force for the Wi-Fi 6 market.
A notable trend in the Wi-Fi 6 market is technological advancements, with major companies focusing on the development of flexible solutions incorporating features such as traffic prioritization, OFDMA, and beamforming. The new protocol employs state-of-the-art encryption techniques, enhancing security. Additionally, Wi-Fi 6-capable devices can utilize the more recent 6 GHz frequency band, leading to improved connectivity. Huawei, a China-based technology corporation, exemplifies this trend with the launch of AirEngine 6760-X1 & 6760-X1E in December 2021, providing enhanced signal coverage with no blind spots and adaptability to challenging environments.
Major players in the Wi-Fi 6 market are adopting a strategic partnership approach to advance their Wi-Fi 6 product portfolios. Strategic partnerships involve leveraging each other's strengths and resources for mutual benefits. For instance, HFCL Limited, an India-based telecommunications manufacturing company, partnered with Qualcomm Technologies Inc., a US-based manufacturer of telecommunications and Wi-Fi 6 products, in February 2021 to expand its Wi-Fi offerings. This collaboration utilizes Qualcomm's Networking Pro Series platform to enable effective connections in complex environments while ensuring secure data transfer.
In December 2021, Renesas Electronics Corporation, a Japan-based manufacturing company of Wi-Fi 6 chips, acquired Celeno Communications Ltd. for approximately US$315 million. This acquisition enhances Renesas' global engineering and software development capabilities, allowing it to offer extended services to clients worldwide. Celeno Communications Ltd., based in Israel, specializes in manufacturing Wi-Fi 6 solutions.
Major companies operating in the in the wi-fi 6 market report are Cisco Systems Inc., Intel Corporation, Huawei Technologies Co. Ltd., NETGEAR Inc., Juniper Networks Inc., Qualcomm Technologies Inc., Broadcom Inc., Extreme Networks Inc., Ubiquiti Inc., Fortinet Inc., Aruba Networks, NXP Semiconductors N. V., American Telephone and Telegraph Company, D-Link Corporation, Alcatel-Lucent Enterprise, TP-Link Technologies Co. Ltd., MediaTek Inc., Samsung Electronics Co. Ltd., Microsoft Corporation, Aerohive Networks Inc., Ruckus Networks, Zhongxing Telecommunication Equipment Corporation (ZTE), Nippon Electric Company Corporation (NEC), Nokia Corporation, Ericsson AB, Mist Systems, Cambium Networks Corporation, CommScope Inc., Hewlett Packard Enterprise Company
North America was the largest region in the Wi-Fi 6 market in 2023 and is expected to be the fastest-growing region in the forecast period. The regions covered in the wi-fi 6 market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the wi-fi 6 market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.
The Wi-Fi 6 market consists of revenues earned by entities by providing hardware for Wi-Fi 6, including wireless access points, home gateways, and mesh routers. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.