WiFi 6 market size expected to grow at CAGR of 12.39%

The Global WiFi 6 Market is Segmented by Type (Hardware, Software, Services), by Application (IT and Telecommunications, BFSI, Retail, Government and Public Sector, Healthcare): Opportunity Analysis and Industry Forecast, 2022–2028.

The global WiFi 6 Market size was valued at USD 2.66 Billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 12.39% from 2022 to 2028.

Major Factors Driving the Growth of the Wireless WiFi 6 Market are:
Hybrid work would be the new norm due to the recent pandemic outbreak. Whether employees are working in-office or remotely, video meetings have established themselves as a mainstay of the hybrid workplace. Enterprises may be able to offer more wireless video connections thanks to Wi-Fi 6. This element is anticipated to fuel the WiFi 6 market growth.

The demand for Wi-Fi 6 and its services is anticipated to increase concurrently with the increase of internet users. The number of internet users is rapidly growing as a result of greater smartphone adoption and better connectivity. An increase in internet connectivity has created new economic opportunities for telecom service providers. They must also match the uptime of their rivals in addition to these advantages in latency and bandwidth. To take advantage of these new opportunities, telecom companies are heavily investing in enhanced Wi-Fi solutions, which may offer the necessary connectivity bandwidth, security, and network dependability. As telecom companies boost their investments in wireless network infrastructure, the Wi-Fi 6 market is anticipated to grow.

Many people began doing their work and studying at home during the COVID-19 pandemic. Globally, the home network environment was severely crowded by online gaming devices with virtual reality capabilities, sports equipment for live-streaming workouts, and connected kitchen appliances. This factor is expected to further fuel the growth of the Wifi 6 market.

During the forecast period, the Wifi 6 market is anticipated to be driven by the rising need for improved networks, low latency, and bandwidth communications among businesses. The demand for better network connectivity has increased across a number of industries, including corporate and industrial, as a result of the rapidly growing data traffic. As a result, it is anticipated that over the forecast period, more wi-fi 6 and 6E devices will be installed, which would enhance the need for these chipsets.

Furthermore, Wi-Fi 6 has several advantages over Wi-Fi 5 in terms of capabilities, and as a result, it can enable a variety of cutting-edge solutions like automated guided cars, industrial robots, and many more compelling use cases. These benefits are anticipated to fuel the Wifi 6 market.

Based on application, the Family or Individual Consumer is expected to be the most lucrative segment. Residential customers are benefiting greatly from the improvements offered by WiFi 6 devices operating in the 2.4-GHz band, which is fostering the expansion of this market.

Based on region, APAC is expected to witness the highest CAGR growth during the forecast period. With many smart cities, Asia Pacific is quickly becoming the most powerful region on earth. Governments in this region are very concerned about the increased security investment needed to keep up with the constantly shifting danger scenario.

CT Bureau