By 2027, the global Wi-Fi 6 market will reach $26.2 billion

According to market research firm ResearchAndMarkets, the global Wi-Fi 6 market is expected to grow from $11.5 billion in 2022 to $26.2 billion in 2027, with a compound annual growth rate (CAGR) of 17.9% during the forecast period. The Wi-Fi 6 market is gaining momentum due to the increase in the number of Internet users.

The development of various Wi-Fi enabled devices in the market has increased consumer demand, which in turn has boosted the sales of smart home and work devices. Devices such as lighting systems and thermostats have been installed in homes and workplaces in developed countries such as the U.S., Japan, and Germany.

Developed countries are witnessing large-scale deployment of smart home security and other in-vehicle infotainment devices. Smart devices need to connect with other devices through homogeneous or heterogeneous networks. Wi-Fi 6 makes integration and interconnection with other devices simple and easy.

With “smart” technology integrated into devices, consumers can operate them remotely to manage their operations. Wi-Fi capabilities are a mandatory requirement for devices that support smart technology. Over time, the IEEE standard has also evolved from 802.11 to 802.11ax. In addition, Wi-Fi 6 increases the speed of wireless connections.

Hardware will still account for a larger market share during the forecast period

The Wi-Fi 6 market is segmented into hardware, solutions, and services. The hardware segment includes WAPs, mesh routers, home gateways, and wireless repeaters. Services include professional services and managed services. The growing demand for Wi-Fi 6 solutions and services and the increasing need for improved connectivity among enterprises are driving the growth of the global Wi-Fi 6 market.

Asia Pacific to grow at the highest CAGR during the forecast period

Asia Pacific is home to many developing economies, and many countries in the region are adopting new technologies to comply with procedures to improve the efficiency of the financial system. Key countries include Australia, Japan, Singapore, India, China, and New Zealand. The region is expected to witness rapid adoption of Wi-Fi 6 software.

Asia Pacific is expected to be the fastest growing Wi-Fi 6 market due to the increase in new technology adoption, high investments in digital transformation, rapid expansion of domestic enterprises, extensive infrastructure development, and rising GDP in various countries. Fast-growing economies such as China, Japan, Singapore, and India are implementing Wi-Fi 6 solutions across multiple business processes to provide effective solutions.

Key Trends

• The increase in the number of internet users is expected to drive the market growth during the forecast period.
• The solutions segment will account for the largest market share in 2022.
• Indoor will occupy a larger market share in 2022.
• In 2022, large enterprises will occupy a larger market share.
• No. 1 in education market share in 2022.
• North America will account for the largest market share in 2022.
• Asia Pacific will be the best market for investment during the forecast period.

Market Dynamics

Drivers:

• More and more Internet users.
• Rising adoption of IoT devices.
• The demand for faster and more secure networks continues to grow.

Impediments:

• Contention Loss and Co-Channel Interference

Chance:

• Increase the deployment of public Wi-Fi

challenge:

• Data security and privacy issues