According to a recent market survey conducted by Future Market Insights (FMI), the global Wi-Fi market was valued at $11.1 billion in 2021 and is expected to reach $74.1 billion by 2032. According to the report’s findings, the hardware segment by component will continue to be critical for the market because it generates the majority of revenue.
The hardware segment by component is expected to grow at a CAGR of 18.9% by 2032. The recent surge in digitization, combined with the Internet of Things (IoT) across industry verticals, is expected to boost global Wi-Fi demand in the coming years.
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The US to Command the Larger Proportion of Wi-Fi Market throughout the Analysis Period
USA commands over 30% of the global market share and is expected to witness an absolute opportunity growth of US$ 18.9 Bn to reach a valuation of US$ 23.2 Bn by 2032. Owing to the rapidly increasing requirement, its demand in the USA is expected to increase. The E-Commerce industry vertical in the U.S. has witnessed over 11% growth contributing to the 15% growth rate across the world in 2021.
“The application of enterprise-class Wi-Fi segment by density have significant potential to emerge as a key market driver during the forecast period for the Wi-Fi market.” comments an analyst at Future Market Insights.
Wi-Fi Market: Competition Insights
Cisco Systems Inc., Telefonaktiebolaget LM Ericsson, Huawei Technologies, Panasonic Holdings Corporation, D-Link Systems Inc., CommScope, Juniper Networks Inc., Verizon, AT&T Inc., Hewlett Packard Enterprise, Arista Networks, Singtel, Vodafone Group Plc, Superloop, iPass Inc., Fujitsu Ltd., ADTRAN, and Aerohive Networks are among the key players driving the W-Fi market.
Recent Developments
- In April 2022, in the U.S. the NETGEAR Nighthawk M6 and Nighthawk M6 Pro, mobile hotspots will be operable, aided by the premium 5G+ network provided by AT&T Company that even includes support for millimeter-wave.
- In January 2022, two new state-of-the-art Wi-Fi 6 Access Points, DAP-X2850 and DAP-X2810 were launched by D-Link Systems Inc., aiding to help with the uninterrupted Wi-Fi connection for bandwidth-intensive applications.
- In July 2021, 2×10 MHz of the spectrum was acquired by Vodafone in the 700 MHz band from the Spanish Ministry of Economic Affairs and Digital Transformation (MINECO) for US$ 357.3 Mn (€350 Mn), aiding in furthering the position of the company in the market.
- In September 2020, Cradelpoint, among the leading market players in the Wireless Edge WAN Solutions industry was acquired by Ericsson.
- In August 2020, Wi-Fi 6 Access Points (AP) were launched by Juniper Networks Inc., namely AP63, AP33, AP32 and AP12 in order to expand its AI-Driven enterprise to further its business portfolio.
- In February 2020, in the AirEngine Wi-Fi 6 series products, 10 new Wi-Fi 6 access point (AP) models were launched by Huawei Technologies.
More Insights Available
Future Market Insights, in its new offering, presents an unbiased analysis of the Wi-Fi Market, presenting historical market data (2015-2021) and forecast statistics for the period of 2022-2032.
The study reveals extensive growth in the Wi-Fi market in terms of Component (Hardware, Solutions, and Services), Density (Hi-Density Wi-Fi and Enterprise-Class Wi-Fi), Location Type (Indoor and Outdoor), Organization Size (Large Enterprises and SMEs), and Vertical (Education, Healthcare and Life Sciences, Transportation and Logistics, Retail and e-Commerce, Government, Manufacturing, Hospitality, and Others), across five regions (North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa).
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Key Segments Covered in Market Survey
By Component:
- Hardware
- Solutions
- Services
By Density:
- Hi-Density Wi-Fi
- Enterprise-Class Wi-Fi
By Location Type:
- Indoor
- Outdoor
By Organization Size:
- Large Enterprises
- SMEs
By Vertical:
- Education
- Healthcare and Life Sciences
- Transportation and Logistics
- Retail and e-Commerce
- Government
- Manufacturing
- Hospitality
- Others
By Region:
- North America
- Asia Pacific
- Europe
- The Middle East and Africa
- Latin America
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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