Wi-Fi 6 Market Forecast: Size, Share, and Trend Insights
A new report by Meticulous Research® titled ‘Wi-Fi 6 Market Size, Share, Forecast, & Trends Analysis by Device (Mesh Routers, Wireless Access Points, Home Gateways), Commercial Use (Enterprises, Consumers), Application (Consumer Electronics, AR/VR, Retail, Smart Cities, Healthcare), and Geography - Global Forecast to 2031’ indicates that the Wi-Fi 6 market is set to grow at a CAGR of 25.2% from 2024 to 2031, reaching a market value of $18.2 billion by 2031.
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The report attributes this growth to the increasing adoption of Wi-Fi 6 technology driven by its ability to offer higher speeds, enhanced performance, and support for a large number of connected devices. However, high installation costs could limit its widespread deployment. Yet, the growing demand for smart homes and smart cities presents a promising outlook for the market, while data security challenges persist as a concern.
The report segments the market by device type, commercial use, application, and geography to offer comprehensive insights.
Device Segment: The Wi-Fi 6 device segment includes mesh routers, wireless access points, home gateways, and wireless repeaters. Among these, wireless access points are expected to dominate the market, capturing 41.0% of the market by 2024. These devices are favored for their ability to provide seamless connectivity to multiple devices without performance degradation.
On the other hand, mesh routers are expected to grow at the fastest rate due to their ability to extend Wi-Fi coverage over large areas, making them ideal for smart homes and other environments that require robust Wi-Fi performance across multiple rooms and floors.
Commercial Use Segment: The commercial use of Wi-Fi 6 is categorized into enterprises and consumers. The enterprise sector is forecast to maintain the largest share, comprising 65.0% of the market in 2024. The adoption of Wi-Fi 6 in enterprises is driven by the increasing reliance on cloud services, IoT, and remote work, which demand high-speed, reliable wireless connectivity.
The consumer segment is expected to grow at the highest CAGR during the forecast period, as smart home technologies continue to proliferate, driving demand for more advanced Wi-Fi systems that can support multiple devices at once, such as smart TVs, security systems, and smart appliances.
Application Segment: Wi-Fi 6 has broad applications across sectors like consumer electronics, AR/VR, retail, smart cities, and healthcare. The consumer electronics segment is projected to hold the largest share in 2024, accounting for 32.0% of the market, driven by the demand for fast and reliable Wi-Fi to support smartphones, laptops, and smart home devices.
However, the smart cities segment is expected to grow at the highest rate. As cities implement smart technologies, Wi-Fi 6 is becoming crucial for connecting devices such as smart streetlights, traffic systems, and environmental sensors, providing real-time data that enhances urban infrastructure management.
Geographic Analysis: Geographically, North America is anticipated to lead the global Wi-Fi 6 market with a 60.0% market share by 2024, thanks to the early adoption of advanced technologies in sectors like retail, healthcare, and smart homes.
Meanwhile, the Asia-Pacific region is forecast to experience the fastest growth. Factors such as the rising number of internet-connected devices, smart city initiatives, and government support for high-speed internet infrastructure are driving the adoption of Wi-Fi 6 in this region.
Key Players
The key players operating in the Wi-Fi 6 market are Cisco Systems, Inc. (U.S.), Cypress Semiconductor Corporation (a part of Infineon Technologies AG) (U.S.), Aruba Networks (a part of Hewlett Packard Enterprise Company) (U.S.), D-Link Corporation (Taiwan), Marvell Technology, Inc. (U.S.), KAONMEDIA Co., Ltd. (Korea), Ruckus Wireless, Inc. (a part of Commscope Holding Company, Inc.) (U.S.), Cambium Networks Corporation (U.S.), Linksys Holdings, Inc. (U.S.), AsusTek Computer Inc. (Taiwan), TP-Link Corporation Limited (China), NETGEAR, Inc. (U.S.), Intel Corporation (U.S.), Huawei Technologies Co., Ltd. (a part OF Huawei Investment & Holding Co., Ltd.) (China), and Juniper Networks, Inc. (U.S.).
To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/wifi-6-market-5238
Key Questions Answered in the Report:
Which are the high-growth market segments in terms of device, commercial use, and application?
What is the historical market size for Wi-Fi 6 solutions globally?
What are the market forecasts and estimates for 2024–2031?
What are the major drivers, restraints, opportunities, challenges, and trends in the Wi-Fi 6 market?
Who are the major players in the Wi-Fi 6 market, and what are their market shares?
What is the competitive landscape like?
What are the recent developments in the Wi-Fi 6 market?
What are the growth strategies adopted by major market players?
What are the trends, and which are the high-growth countries?
Who are the local emerging players in the Wi-Fi 6 market, and how do they compete with the other players?
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Wi-Fi 6 Market, Mesh Routers, Wireless Access Points, Home Gateways, Wireless Repeaters, Consumer Electronics, AR/VR, Retail, ICT, Information and Communications, Technology |