Wi-Fi Market Size Expected to Reach USD 38.72 Billion at CAGR of 22.3%, 2028
Increasing BYOD trends in organizations is expected to stimulate market growth.
Market Size – USD 10.69 Billion in 2020, Market Growth – CAGR of 22.3%, Market Trends – Increasing use of IoT devices.
The global Wi-Fi Market is expected to reach USD 53.46 Billion by 2028, according to a new report by Reports and Data. The growth of the Wi-Fi market is driven by an escalating increase in the demand for mobile devices such as smartphones, laptops, etc. has led to an increase in the implementation of IoT and BYOD trend across the organization, thereby making the organizations look up ways to set up smart infrastructure to improve their workforce efficiency and continuous increase in workflow.
An increasing demand for integrated security in IoT (expected to see huge growth in near future), cloud management and adoption of carrier Wi-Fi by mobile operators are other key factors likely to drive the market growth.
Co-channel contention may act as a restraint in this market as two or more radios using the same channel are backing off each other causing interference in process of data transmission. The progress of the market is restricted by strict government norms pertaining to the use of Wi-Fi.
North America is projected to occupy the largest share in the market with a market size of USD 2.72 billion in 2019 and is projected to continue its domination throughout the forecast period due to the extensive demand for Wi-Fi services and solution in the developed economies like US and Canada.
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Key participants include Cisco (US), Aruba (US), Juniper Networks (US), Ruckus Wireless (US), Ericsson (Sweden), Huawei (China), Panasonic (Japan), Netgear (US), Aerohive Networks (US), Alcatel-Lucent Enterprises (France), and Riverbed Technologies (US).
Further key findings from the report suggest
- On the basis of the component, market is divided into solutions and services. Network planning and design service, an important part of the Wi-Fi ecosystem, where operators are required to pass through proper analysis stage before any kind of implementation of wireless network. Thus the services segment of the Wi-Fi market is expected to occupy the largest market share during the forecast period registering a CAGR of 21.09% with a market size of USD 3.71 billion in 2019.
- Based on end-use application, the market segmentations are Education, Healthcare, Retail, Transportation, Government, Manufacturing, Hospitality, Sports and Leisure, and Others. The education sector is expected to gain the largest market share whereas the segment of sports and leisure is projected to experience the highest growth rate of CAGR 21.17%. The use of Wi-Fi by schools, colleges, and universities to offer seamless, smooth and efficient education to their students and better equip their faculties to impart their knowledge to the students along with their self-progress is expected to drive the market growth.
- On the basis of geographical regions, market has been segmented into North America, Europe, Asia Pacific, Middle East, and North America is projected to occupy the largest share in the market with a market size of USD 2.72 billion in 2019 and is projected to continue its domination throughout the forecast period due to the extensive demand for Wi-Fi services and solution in the developed economies like US and Canada. Another factor boosting the growth of the Wi-Fi market is the huge demand for Wi-Fi in growing economies like India and China. The Wi-Fi market in India is estimated to grow faster than the world market.
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For the purpose of this report, Reports and Data have segmented the global Wi-Fi market on the basis of component, density, end-use application, and region:
Component Outlook (Revenue, USD Million; 2018-2028)
- Solutions, by Type
- Access Points
- WLAN Controllers
- Wireless Hotspots Gateways
- Access Points
- Solutions, by Type
- Services, by Type
- Network Planning and Design
- Installation and support
- Survey and Analysis
- Services, by Type
Density Outlook (Revenue, USD Million; 2018-2028)
- High-Density Wi-Fi
- Enterprise Class Wi-Fi
End-Use Application Outlook (Revenue, USD Million; 2018-2028)
- Sports and Leisure
Regional Outlook (Revenue, USD Million; 2018-2028)
- North America
- Asia Pacific
- Latin America
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Market Report includes major TOC points:
- Wi-Fi market Overview
- Global Economic Impact on Industry
- Global Market Competition by Manufacturers
- Global Production, Revenue (Value) by Region
- Global Supply (Production), Consumption, Export, Import by Regions
- Global Production, Revenue (Value), Price Trend by Type
- Global Market Analysis by Application
- Manufacturing Cost Analysis
- Industrial Chain, Sourcing Strategy and Downstream Buyers
- Marketing Strategy Analysis, Distributors/Traders
- Market Effect Factors Analysis
- Wi-Fi market Forecast
Conclusively, all aspects of the Wi-Fi market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.
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