Wi-Fi 6 Market
The global market for Wi-Fi 6 will grow at an appropriate rate during the projection period.
PORTLAND, PORTLAND, OR, UNITED STATE, October 31, 2022 /EINPresswire.com/ — The rising need for better networks, the increasing number of devices and internet users, the growing adoption of Wi-Fi 6 devices across different smart home applications, and continual advancements in Wi-Fi standards are the primary elements that are pushing the growth of the Wi-Fi 6 market.
The increasing number of interconnected devices and internet users constantly raises the need for efficient Wi-Fi networks. Wi-Fi 6 technology has solved these issues by delivering well-organized networks and allowing the comfortable connection of several devices with different bandwidth needs to Wi-Fi.
Elements such as high data rates, exceptional performance in circumstances with multiple connected devices, and enhanced power efficiency are propelling the growth of the Wi-Fi 6 market. The Cisco Wi-Fi hotspots are predicted to reach 627 million public Wi-Fi hotspots by 2023, and Wi-Fi 6 hotspots will be 10.5 % of all public Wi-Fi hotspots in the coming time. All the countries are taking multiple government initiatives to distribute public Wi-Fi hotspots faster.
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According to the report published by Allied Market Research, the global Wi-Fi 6 market generated $10.85 billion in 2021, and is estimated to reach $64.12 billion by 2031, witnessing a CAGR of 19.6% from 2022 to 2031. The report is an essential and helpful source of information for leading market players, investors, new entrants, and stakeholders in formulating new strategies for the future and taking steps to strengthen their position in the market.
Leading players of the global Wi-Fi 6 market analyzed in the research include Apple Inc., Aruba Networks, Asustek Computer Inc., AT&T, Broadcom, Cisco Systems, Fortinet Inc., Hewlett-Packard Company, Huawei Technologies, Intel Corporation, Juniper Networks, Linksys Holdings, Inc., Microsoft Corporation, NXP Semiconductors, Qualcomm Inc., Samsung Electronics Co. Ltd, and Sterlite Technologies Limited.
Covid-19 Scenario:
• The Covid-19 pandemic drastically affected the businesses across the globe. However, the prolonged lockdown, especially in the Asian and European countries positively impacted the adoption of Wi-Fi 6 devices.
• During the pandemic, the number of Wi-Fi 6 connected devices experienced a steep increase. The lockdown enforcement heightened the adoption of digital learning platforms for digital education, which fueled the market growth.
• Manufacturers collectively were forced to deploy several agile approaches for quality control.
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The global Wi-Fi 6 market report offers detailed segmentation of the market based on component, enterprise size, location, industry vertical, and region. The report provides an analysis of each segment and sub-segment with the help of tables and figures. This analysis helps investors, market players, and new entrants in determining the sub-segments to be tapped on to achieve growth in the coming years.
Based on offering, the solution segment accounted for the highest share in 2021, contributing to nearly three-fifths of the total share, and is expected to maintain its leadership status during the forecast period. However, the service segment is expected to manifest the highest CAGR of 21.0% from 2022 to 2031.
Based on location type, the outdoor segment held the largest share in 2021, accounting for nearly two-thirds of the market, and is expected to maintain its dominance in terms of revenue by 2031. However, the indoor segment is estimated to witness the largest CAGR of 21.0% during the forecast period.
On the basis of enterprise size, the large enterprises segment dominated the market in 2021, accounting for around three-fifths of the global Wi-Fi 6 market, and is projected to maintain its leading position throughout the forecast period. However, the SMEs segment is estimated to showcase the highest CAGR of 20.9% during the forecast period.
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Based on industry vertical, the IT and telecom segment held the lion’s share in terms of revenue in 2021, contributing to more than two-fifths of the market. However, the travel and hospitality segment is projected to register the highest CAGR of 23.9% during the forecast period.
Based on region, the market across North America accounted for the highest share in 2021, contributing to more than one-third of the total market share, and is projected to continue its leadership status by 2031. However, market across Asia-Pacific is projected to portray the fastest CAGR of 22.3% during the forecast period. The research also analyzes regions including Europe and LAMEA.
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