The Wi-Fi Market size is expected to grow from USD 14.5 billion in 2023 to USD 39.4 billion by 2028 at a Compound Annual Growth Rate (CAGR) of 22.2% during the forecast period, according to a new report by MarketsandMarkets™. People use smart devices and smart technologies extensively to improve their living standards. The development of various Wi-Fi-enabled devices in the market has increased consumers’ demand, which, in turn, has increased the sale of smart home and work devices. Devices like lighting systems and thermostats are already installed in homes and workplaces across developed countries, such as the US, Japan, and Germany. Developed countries witness large-scale deployments of smart home security and other vehicle infotainment devices. Smart devices need to connect with other devices via homogeneous or heterogeneous networks.
Smart home devices segment is expected to hold the largest market share during the forecast period.
Wi-Fi smart home devices have become increasingly popular in recent years, revolutionizing the way people interact with and manage their homes. These devices leverage wireless internet connectivity to provide convenience, energy efficiency, security, and automation in residential settings. Wi-Fi-enabled smart home devices allow users to automate various tasks, control devices remotely, and create personalized routines. The rapid growth in the number and variety of smart home devices, including smart TVs, thermostats, lights, security cameras, and appliances, drives the need for robust Wi-Fi networks.
Asia Pacific likely to emerge as the fastest-growing segment during the forecast period.
The growth of the Wi-Fi Market in the Asia Pacific is highly driven by rapid digitalization, and widespread smartphone adoption has led to an exponential increase in demand for fast and reliable internet connectivity. Also, the growing number of smart homes, IoT devices, and digital initiatives in various sectors like healthcare and education have created a need for robust and scalable Wi-Fi solutions. Markets and Markets