Wi-Fi Market Size, Share, Trends | Growth Industry Report 2028

 

Wi-Fi market reached at USD 9.4 billion in 2020, and is estimated to touch USD 34.9 billion in 2028, growing at a significant CAGR of 17.8% during 2021-2028.

The factors driving the growth of Wi-Fi Market includes emerging trend of Bring Your Own Device (BYOD), widespread use of Wi-Fi across industry verticals such as Retail, E-Commerce and Education, commercialization of 5G technology, increasing penetration of smartphones, tablets and connected devices and improvements in the living standards. Moreover, technological innovations in wireless and smart devices, expansion of the telecom industry, rise in the launch of innovative products, increasing number of smart homes devices around the world and rapid urbanization, are some of the additional factors supplementing the Global Wi-Fi Market. In addition, the increasing investments by leading players on research and development, rising disposable incomes, strategic collaborations between major companies and growing population growth rates, are further contributing towards the market growth.

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However, growth of the Wi-Fi Market is hindered attributed to rising concerns related to cyber-attacks across the globe.

The prominent players operating in the market are Aptilo Networks, Netgear, Inc., Ericsson, Cisco Systems, Inc., Aruba Networks, Juniper Netwokrs, Inc., Alcatel-Lucent, Aerohive, Boingo Wireless, Inc., and Ruckus Wireless, Inc., among others.

Based on Component, the Services segment emerged as the fastest growing segment during the forecast period

Growing demand for broadband connectivity services and increasing number of internet users worldwide, are pushing the demand for Wi-Fi solutions.

Based on End-User, the E-commerce segment is projected to dominate the market over the forecast period

Wi-Fi solutions helps e-commerce companies for enhancing their operational efficiency along with rising trend of online shopping, are propelling Wi-Fi Market size.

Based on Region, the North American region is anticipated to expand at a remarkable CAGR during the forecast period

Increase in internet penetration rates across United States and Canada, rapid growth in the e-commerce industry, growing adoption of advanced technologies by major corporations, rising population growth rates and high per capita incomes, are some of the important factors augmenting the market growth in the North American region.

Key Developments

  • In 2019, CISCO introduced 5th Generation Wi-Fi named Wi-Fi 6 with 400 times extended capacity designed to provide predictable consumer experiences.
  • In 2020, Huawei developed fully powered office networks AirEngine Wi-Fi 6 products that accelerate the capacity of corporate houses with air- interface data speed of 10.75 Gbps.

Market Segmentation

Segmentation by Component

  • Hardware
  • Solution
  • Services

Segmentation by Density

  • Enterprise-class Wi-Fi
  • High-density Wi-Fi

Segmentation by Location Type

  • Indoor
  • Outdoor
  • Transport

Segmentation by End-User

  • Residential & Commercial
  • Education
  • Retail
  • E-commerce
  • Others

Segmentation by Region

  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of APAC
  • North America
    • United States of America
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Rest of Europe
  • RoW
    • Brazil
    • South Africa
    • Saudi Arabia
    • UAE

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

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