The global Wi-Fi 6 Market size is expected to grow from USD 11.5 billion in 2022 to USD 26.2 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 17.9% during the forecast period, according to Markets and Markets.
By offering, the service segment to have a higher growth during the forecast period
The Wi-Fi 6 solutions include professional and managed services. Wi–Fi 6 services enable organizations to offload the burden of managing their network infrastructures and focus on their core businesses, thereby increasing their productivity. Providers of Wi–Fi network infrastructures of enterprises by providing them different types of services through a subscription–based pricing model. Wi–Fi 6 allows enterprises and service providers to support new and emerging applications on the same Wireless LAN (WLAN) infrastructure while delivering a higher grade of service to applications. This scenario sets the stage for new business models and increased Wi–Fi 6 adoption.
Managed services segment is expected to grow at a higher CAGR during the forecast period
Managed Service Providers (MSPs) offer complementary services for the marketing cloud–based Wi–Fi 6. They are third–party IT service providers that remotely manage the IT infrastructure and systems of clients for backup and recovery of business–critical data. These service providers carry out 24/7 remote monitoring of Wi–Fi 6 networks for their commercial clients. Enterprises opt for managed services to overcome the challenges of budget constraints and technical expertise as managed service providers have skilled human resources, infrastructure, and industry certifications. They offer services to monitor and manage hardware devices and manage the availability and the performance of networks. They also ensure smooth operations and security of networks. The growth of the Wi–Fi 6 market is being driven by the increasing reliance by businesses on the use of IT to improve business productivity, coupled with a continuing rise in demand for specialized MSPs and cloud–based managed Wi–Fi 6 services.
Asia Pacific (APAC) region to record the highest growing region in the Wi-Fi 6 Market
The Asia Pacific is home to many developing economies, and many countries in this region are adopting new technologies to comply with procedures for increasing the efficiency of financial systems. The key countries include Australia, Japan, Singapore, India, China, and New Zealand. The region is expected to witness the fast-paced adoption of Wi-Fi 6 software. The Asia Pacific is estimated to be the fastest-growing Wi-Fi 6 Market owing to the rise in the adoption of new technologies, high investments for digital transformation, the rapid expansion of domestic enterprises, extensive development of infrastructures, and increasing GDP of various countries. Rapidly growing economies, such as China, Japan, Singapore, and India, are implementing Wi-Fi 6 solutions across multiple business processes to provide effective solutions.