Northbrook, IL 60062 -- (SBWire) -- 08/21/2023 --The global Wi-Fi 6 Market size is estimated at USD 5.7 billion in 2023 to USD 20.9 billion by 2028, at a Compound Annual Growth Rate (CAGR) of 29.3%, according to research report by MarketsandMarkets™.
Wi-Fi 6 supports advanced features like Target Wake Time (TWT) and Basic Service Set (BSS) Coloring, enabling more precise indoor location services. This capability serves opportunities in retail, healthcare, and other sectors that rely on location-based data for enhanced customer experiences or asset tracking which is boosting Wi-Fi 6 market.
Browse 339 market data Tables and 52 Figures spread through 298 Pages and in-depth TOC on "Wi-Fi 6 Market - Global Forecast to 2028"
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By Application, HD video streaming and video conferencing segment is estimated to account for the largest market share in 2023.
Wi-Fi 6 is used in video streaming to deliver video content to users over the internet. Wireless technology allows devices to communicate with each other without the need for a physical connection. Wi-Fi is a wireless technology that uses radio waves to transmit data. Wi-Fi 6 is essential for video streaming because it enables users to watch video content on any device with an internet connection. This includes smartphones, tablets, laptops, and smart TVs.
By Hardware, system on chip is expected to register the fastest growth rate during the forecast period.
A Wi-Fi System-on-Chip is a single chip that integrates all the necessary components for a Wi-Fi device. This includes the Wi-Fi radio, processor, memory, and other components. Wi-Fi SoCs enable a more compact and efficient design and improved performance and power efficiency. They are used in a variety of devices, such as smartphones, tablets, laptops, and smart home devices.
Asia Pacific is expected to have the highest growth rate
Businesses in the Asia Pacific region, particularly in industries like IT, telecom, retail, and healthcare, are showing strong optimism and awareness about the benefits of Wi-Fi 6. This positive attitude contributes to the region's growth of the Wi-Fi 6 industry, with more commercial clients adopting reliable Wi-Fi 6 solutions and services. The advancements in technology in the Asia Pacific region, combined with the increasing trend of using Wi-Fi solutions, are expected to bring further benefits to the Wi-Fi market. Several countries in the region, including China, Japan, South Korea, and Australia, have designated a spectrum for Wi-Fi 6 use, enabling wireless service providers to offer faster speeds and better performance to their customers by rolling out Wi-Fi 6 networks.
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Market Players
The major vendors covered in the Wi-Fi 6 market include Cisco Systems Inc. (US), Qualcomm Technologies Inc. (US), Broadcom Inc (US), Intel Corporation (US), Huawei technologies (China), NETGEAR Inc (US), Juniper Networks Inc (US), Extreme Networks Inc. (US), Ubiquiti Inc. (US), Fortinet Inc. (US), Aruba Networks (US), NXP Semiconductors (Netherlands), AT&T (US), D–Link Corporation (Taiwan), Alcatel Lucent Enterprise (France), TP–Link Corporation Limited (China), MediaTek Inc. (Taiwan), Telstra (Australia), Murata Manufacturing Co., Ltd. (Japan), Sterlite Technologies Limited (India), Renesas Electronics (Japan), H3C Technologies Co., Ltd. (China), Keysight Technologies (US), LitePoint (US), Rohde & Schwarz (Germany), Cambium Networks, Ltd. (US), Senscomm Semiconductors Co., Ltd. (China), XUNISON (Ireland), Redway Networks Ltd. Company (England), VSORA SAS (France), WILUS Inc. (South Korea), Federated Wireless, Inc. (US), Actiontec Electronics (US), ADB Global (Switzerland), SDMC Technology (China), and Edgewater Wireless (Canada).
Key Dynamic Factors For Wi-Fi 6 Market:
Growing Need for High-Speed Connectivity: The proliferation of data-intensive applications like streaming, online gaming, 4K video, and Internet of Things (IoT) devices has led to a growing demand for faster and more dependable wireless connections, which has been a driving force behind the adoption of Wi-Fi 6. This need for fast connectivity has probably kept the Wi-Fi 6 industry growing.
IoT growth: A Wi-Fi technology that can support more connected devices at once is required due to the growth of IoT devices in a variety of industries, including smart homes, healthcare, manufacturing, and agriculture. Wi-Fi 6 may have been a better option for IoT deployments because to its increased bandwidth and effectiveness in managing many devices.
Enterprise and Business Adoption: Wi-Fi 6 is a desirable alternative for enterprises, educational institutions, and public spaces due to its capacity to manage congested environments with numerous users and devices. The expansion of the Wi-Fi 6 industry may have been facilitated by businesses seeking to offer seamless connectivity to staff, clients, and tourists.
Mobile network operators and carriers stand to gain from carrier Wi-Fi's improved performance and ability to shift cellular traffic onto Wi-Fi networks. Offloading reduces cellular network congestion and enhances user experience in general.
The COVID-19 pandemic compelled a sizeable section of the world's employment and student population to work and learn remotely. The need for better residential Wi-Fi connectivity was probably enhanced by this change, which could hasten the adoption of Wi-Fi 6 routers and access points.
Device Ecosystem: The accessibility of Wi-Fi 6-enabled devices, such as mobile phones, laptops, tablets, and smart home appliances, is essential for promoting technology adoption. The market for Wi-Fi 6 infrastructure is projected to expand as device makers continue to add Wi-Fi 6 capabilities to their goods.
The demand for Wi-Fi 6 hardware may have been influenced by network infrastructure upgrades made by service providers, businesses, and individuals to support faster data rates, lower latency, and improved performance.
The Wi-Fi Alliance's certification programme guarantees interoperability across Wi-Fi 6 devices made by various manufacturers, ensuring compatibility and interoperability. This certification programme encourages customers and companies to make secure investments in Wi-Fi 6 technology.
Competitive Environment: Technology companies and manufacturers of networking equipment compete to create cutting-edge Wi-Fi 6 solutions that set them apart from rivals. The competitive environment may encourage ongoing development of Wi-Fi 6 technology.
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Competitive and Segmentation Analysis:
The Wi-Fi 6 market has seen fierce competition between makers of networking equipment, technology, and solutions. Industry pioneers in the development of Wi-Fi 6 enabled routers, access points, and other networking technologies include Cisco, Aruba (a Hewlett Packard Enterprise business), TP-Link, Netgear, and ASUS. These businesses have developed and promoted cutting-edge Wi-Fi 6 products by utilising their knowledge in networking technologies.
The competitive landscape has also been influenced by more recent arrivals and startups in addition to established players. Many of these businesses concentrate on specialised markets or cutting-edge features to set themselves apart. Moreover, by creating the underlying hardware that powers Wi-Fi 6 devices, chipset producers like Qualcomm, Broadcom, and Intel have been crucial in enabling Wi-Fi 6 technology.
Offering distinctive features including increased MU-MIMO (Multi-User, Multiple-Input, Multiple-Output) capabilities, improved security features, stronger IoT integration, and robust network administration interfaces has been one of the market's differentiation strategies. Market performance also depends on competitive pricing and adherence to industry norms.
Consumer: This market sector consists of private homes and small businesses that want to enhance their Wi-Fi infrastructure for faster speeds and better performance, particularly for activities like streaming and online gaming.
Enterprise: Enterprises of various sizes, such as companies, institutes of higher learning, and healthcare facilities, have embraced Wi-Fi 6 to offer reliable connectivity for lots of users and Internet of Things devices in crowded spaces.
Routers and Gateways: Wi-Fi 6 capable routers and gateways are essential for providing high-speed internet access throughout homes and offices while concurrently supporting many devices.
Access Points: Wi-Fi 6 access points are used by businesses to build dependable, scalable wireless networks that can support a large number of devices in a small space.
Home networking: As the need for smooth streaming, gaming, and smart home connectivity has grown, Wi-Fi 6 has becoming more widely used in residential settings.
Enterprise networking: To provide dependable connectivity for a wide variety of devices and applications, sectors like education, healthcare, retail, and hospitality use Wi-Fi 6.
Due to elements like technological infrastructure, economic development, and regulatory rules, the adoption rate of Wi-Fi 6 differs by location. Early adopters have been developed areas with high internet penetration, whereas emerging economies are slowly catching up.
Several industries, including healthcare, manufacturing, retail, education, and transportation, have implemented Wi-Fi 6. Wi-Fi 6 fulfils the unique connectivity needs and demands of each industry by enhancing speed, capacity, and device support.
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Wi-Fi 6 Market Is Projected to Reach US $20.9 Billion by 2028, at a CAGR of 29.3%
This research report categorizes the Wi-Fi 6 market to forecast revenues, analyze trends, offering (hardware, solutions, and services), location type, application, vertical, and region.