CHICAGO, Aug. 8, 2023 /PRNewswire/ -- Broader adoption of Wi-Fi 6 in homes and businesses, integration with 5G networks, support for the development of IoT, support for cutting-edge applications like AR and VR, improved security features, a potential switch to Wi-Fi 6E for more spectrum, and ongoing device evolution to support the newest standards are all factors that will shape the market in the years to come. Its development will also be influenced by factors like market dynamics and newly emerging standards.
The Wi-Fi 6 Market is estimated at USD 5.7 billion in 2023 to USD 20.9 billion by 2028, at a Compound Annual Growth Rate (CAGR) of 29.3%, according to a new report by MarketsandMarkets. Wi-Fi 6 supports advanced features like Target Wake Time (TWT) and Basic Service Set (BSS) Coloring, enabling more precise indoor location services. This capability serves opportunities in retail, healthcare, and other sectors that rely on location-based data for enhanced customer experiences or asset tracking which is boosting Wi-Fi 6 Market.
Browse in-depth TOC on "Wi-Fi 6 Market"
339 - Tables
52 - Figures
298 - Pages
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Scope of the Report
Report Metrics | Details |
Market size available for years | 2019-2028 |
Base year considered | 2022 |
Forecast period | 2023-2028 |
Forecast units | Value (USD) Billion |
Segments covered | Offering (Hardware, Solutions, and Services), Location Type, Application, Vertical, and Region |
Region covered | North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. |
Companies covered | Cisco Systems Inc. (US), Qualcomm Technologies Inc. (US), Broadcom Inc (US), Intel Corporation (US), Huawei technologies (China), NETGEAR Inc (US), Juniper Networks Inc (US), Extreme Networks Inc. (US), Ubiquiti Inc. (US), Fortinet Inc. (US), Aruba Networks (US), NXP Semiconductors (Netherlands), AT&T (US), D-Link Corporation (Taiwan), Alcatel Lucent Enterprise (France), TP-Link Corporation Limited (China), MediaTek Inc. (Taiwan), Telstra (Australia), Murata Manufacturing Co., Ltd. (Japan), and many more. |
By Application, HD video streaming and video conferencing segment is estimated to account for the largest market share in 2023.
Wi-Fi 6 is used in video streaming to deliver video content to users over the internet. Wireless technology allows devices to communicate with each other without the need for a physical connection. Wi-Fi is a wireless technology that uses radio waves to transmit data. Wi-Fi 6 is essential for video streaming because it enables users to watch video content on any device with an internet connection. This includes smartphones, tablets, laptops, and smart TVs.
By Hardware, system on chip is expected to register the fastest growth rate during the forecast period.
A Wi-Fi System-on-Chip is a single chip that integrates all the necessary components for a Wi-Fi device. This includes the Wi-Fi radio, processor, memory, and other components. Wi-Fi SoCs enable a more compact and efficient design and improved performance and power efficiency. They are used in a variety of devices, such as smartphones, tablets, laptops, and smart home devices.
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Asia Pacific is expected to have the highest growth rate
Businesses in the Asia Pacific region, particularly in industries like IT, telecom, retail, and healthcare, are showing strong optimism and awareness about the benefits of Wi-Fi 6. This positive attitude contributes to the region's growth of the Wi-Fi 6 industry, with more commercial clients adopting reliable Wi-Fi 6 solutions and services. The advancements in technology in the Asia Pacific region, combined with the increasing trend of using Wi-Fi solutions, are expected to bring further benefits to the Wi-Fi market. Several countries in the region, including China, Japan, South Korea, and Australia, have designated a spectrum for Wi-Fi 6 use, enabling wireless service providers to offer faster speeds and better performance to their customers by rolling out Wi-Fi 6 networks.
Top Key Companies in Wi-Fi 6 Market:
The major vendors covered in the Wi-Fi 6 Market include Cisco Systems Inc. (US), Qualcomm Technologies Inc. (US), Broadcom Inc (US), Intel Corporation (US), Huawei technologies (China), NETGEAR Inc (US), Juniper Networks Inc (US), Extreme Networks Inc. (US), Ubiquiti Inc. (US), Fortinet Inc. (US), Aruba Networks (US), NXP Semiconductors (Netherlands), AT&T (US), D-Link Corporation (Taiwan), Alcatel Lucent Enterprise (France), TP-Link Corporation Limited (China), MediaTek Inc. (Taiwan), Telstra (Australia), Murata Manufacturing Co., Ltd. (Japan), Sterlite Technologies Limited (India), Renesas Electronics (Japan), H3C Technologies Co., Ltd. (China), Keysight Technologies (US), LitePoint (US), Rohde & Schwarz (Germany), Cambium Networks, Ltd. (US), Senscomm Semiconductors Co., Ltd. (China), XUNISON (Ireland), Redway Networks Ltd. Company (England), VSORA SAS (France), WILUS Inc. (South Korea), Federated Wireless, Inc. (US), Actiontec Electronics (US), ADB Global (Switzerland), SDMC Technology (China), and Edgewater Wireless (Canada).
Recent Developments
- In April 2023, Halford partnered with Juniper Networks to provide AI-driven wired and wireless access solutions in its stores, garages, and offices.
- In February 2023, Cisco and Federated Wireless collaborated to integrate Automated Frequency Coordination (AFC) solution into its wireless 6 GHz-capable access points.
- In December 2022, Skyworks partnered with Broadcom to deliver power efficiency for Wi-Fi 6/6E devices.
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Wi-Fi 6 Market Advantages:
- Higher data rates were added by Wi-Fi 6 to enable quicker wireless connections. This was especially useful in settings where there were plenty of gadgets.
- In congested locations like stadiums, airports, and conference centres, Wi-Fi 6 increased the ability to manage several devices at once. To divide channels into smaller sub-channels and enable more effective bandwidth sharing among devices, it utilised technologies like OFDMA (Orthogonal Frequency Division Multiple Access).
- Wi-Fi 6 worked better in settings with many connected devices because it used channels and sub-channels more effectively. For the expanding number of Internet of Things (IoT) devices, this was essential.
- Wi-Fi 6 generally had better range than earlier generations, albeit it wasn't a huge improvement. Improvements in signal encoding and modulation methods were to blame for this.
- Target Wake Time (TWT), a function introduced by Wi-Fi 6, lets devices set when to wake up and talk with the access point. Since real-time applications like online gaming and video conferencing require low latency and low energy usage, this had a positive impact.
- Wi-Fi 6 has security protocol updates that increase its resistance to many forms of attacks. Wi-Fi Protected Access 3 (WPA3) offered more robust encryption and improved defence against brute-force assaults.
- To enable compatibility with prior Wi-Fi standards, Wi-Fi 6 devices were created to be backward compatible. This allowed them to function with Wi-Fi equipment already in use. As new gadgets were introduced, this made the move easier.
- Wi-Fi 6 proved advantageous in both business and residential settings. Businesses might profit from enhanced performance in packed offices, and households with numerous gadgets might benefit from increased connectivity and less disturbance.
Report Objectives
- To determine and forecast the global Wi-Fi 6 Market by offering (hardware, solutions, and services), location type, application, vertical, and region from 2023 to 2030, and analyze the various macroeconomic and microeconomic factors that affect the market growth.
- To forecast the size of the market segments with respect to five main regions: North America, Europe, Asia Pacific (APAC), Latin America, and Middle East & Africa.
- To provide detailed information about the major factors (drivers, restraints, opportunities, and challenges) influencing the growth of the Wi-Fi 6 Market.
- To analyze each submarket with respect to individual growth trends, prospects, and contributions to the overall Wi-Fi 6 Market.
- To analyze the opportunities in the market for stakeholders by identifying the high-growth segments of the Wi-Fi 6 Market.
- To profile the key market players; provide a comparative analysis based on business overviews, regional presence, product offerings, business strategies, and key financials; and illustrate the market's competitive landscape.
- Track and analyze competitive developments in the market, such as mergers and acquisitions, product developments, partnerships and collaborations, and Research and Development (R&D) activities.
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