Wi-Fi Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Wi-Fi Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global Wi-Fi market size reached US$ 28.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 61.9 Billion by 2028, exhibiting a growth rate (CAGR) of 13.3% during 2023-2028.

Wireless fidelity (Wi-Fi) refers to a wireless networking technology that is used for connecting multiple electronic devices, including laptops, desktops, smartphones, and wearables, with the internet. It operates by sending radio signals from the wireless router to nearby gadgets, which translates the signal into data. These waves are further decoded and transmitted back to the router that assists in connecting the internet by wire and cable. Wi-Fi offers greater flexibility, scalability, reliability, convenience, and mobility at cost-effective prices, due to which it is extensively used in various applications. At present, it is commercially available in high-density and enterprise-class Wi-Fi density types.

Wi-Fi Market Trends:

The widespread adoption of Wi-Fi across the information technology (IT), telecom, education, retail, healthcare, life sciences, manufacturing, and small and medium-sized enterprises (SMEs) on account of the increasing need for responsive, effective, and quality wireless network connectivity is primarily driving the market growth. the increasing deployment of Wi-Fi across organizations has also enabled businesses to streamline multiple operations and ensure rapid and responsive development, while keeping track of the network. This is acting as another major growth-inducing factor. In line with this, significant technological advancements, such as the introduction of wireless-enabled devices, including smartphones, tablets, television, and laptops, that helps in reducing network wiring cost and offers improved mobility is also supporting the market growth. Additionally, the consequent implementation of nationwide lockdown due to the sudden outbreak of coronavirus disease (COVID-19) pandemic have led to the employment of Internet of Things (IoT) and bring your own device (BYOD) corporate models, which, in turn, is facilitating the demand for Wi-Fi across the globe. Other factors, such as favorable initiatives undertaken by the government of several countries for promoting digitalization, higher penetration of internet connectivity, and increasing utilization of electronic gadgets for performing tasks, are creating a positive outlook for the market.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global Wi-Fi market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on component, density, location type, organization size and industry vertical.

Breakup by Component:

Hardware

Solutions

Services

Breakup by Density:

High-Density Wi-Fi

Enterprise-Class Wi-Fi

Breakup by Location Type:

Indoor

Outdoor

Breakup by Organization Size:

Large Enterprises

Small and Medium-sized Enterprises

Breakup by Industry Vertical:

IT and Telecommunication

Education

BFSI

Healthcare

Logistics and Transportation

Retail

Government

Others

Breakup by Region:

North America

United States

Canada

Asia-Pacific

China

Japan

India

South Korea

Australia

Indonesia

Others

Europe

Germany

France

United Kingdom

Italy

Spain

Russia

Others

Latin America

Brazil

Mexico

Others

Middle East and Africa

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being AT&T Inc., Broadcom Inc., Cisco Systems Inc., Extreme Networks, Fortinet Inc., Fujitsu Limited, Hewlett Packard Enterprise Company, Huawei Technologies Co. Ltd., Juniper Networks Inc., Motorola Solutions Inc., Panasonic Corporation, Singapore Telecommunications Limited, Telefonaktiebolaget LM Ericsson, Telstra Corporation Limited and Ubiquiti Inc.

Key Questions Answered in This Report

1. What was the size of the global Wi-Fi market in 2022?

2. What is the expected growth rate of the global Wi-Fi market during 2023-2028?

3. What are the key factors driving the global Wi-Fi market?

4. What has been the impact of COVID-19 on the global Wi-Fi market?

5. What is the breakup of the global Wi-Fi market based on the component?

6. What is the breakup of the global Wi-Fi market based on the location type?

7. What is the breakup of the global Wi-Fi market based on industry vertical?

8. What are the key regions in the global Wi-Fi market?

9. Who are the key players/companies in the global Wi-Fi market?