Wi-Fi 7 Market by Offering (Hardware, Solutions, and Services), Location Type, Application (Immersive Technologies, IoT & Industry 4.0, Telemedicine), Vertical (Media & Entertainment, Education, Residential, Retail), and Region - Global Forecast to 2030

Wi-Fi 7 Market by Offering (Hardware, Solutions, and Services), Location Type, Application (Immersive Technologies, IoT & Industry 4.0, Telemedicine), Vertical (Media & Entertainment, Education, Residential, Retail), and Region - Global Forecast to 2030

The Wi-Fi 7 market is estimated at USD 1.0 billion in 2023 and is projected to reach USD 24.2 billion by 2030, at a CAGR of 57.2% from 2023 to 2030. Various key players in the ecosystem have led to a competitive and diverse market. Government initiatives to establish smart cities is expected to drive the adoption of the Wi-Fi 7 market in the future.

""By hardware, system on chip segment to hold the largest market size during the forecast period.""

SoC stands for System on a Chip. It is a type of integrated circuit (IC) that integrates all or most components of a computer or other electronic system on a single chip. SoCs are used in various devices, including smartphones, tablets, laptops, wearables, and smart home devices. The introduction of Wi-Fi 7 has led chipmakers to make new chipsets that would support Wi-Fi that would be cost-effective, interoperable, and easily integrate with all kinds of devices that offer Wi-Fi technology. SoC are essential Wi-Fi 7 components as the production of many devices as it is an integral part of Routers, Gateway, Modems, Access Point, smartphones, laptops, to support Wi-Fi 7 connectivity. Since the inception of this technology, SoC companies started designing and producing these chipsets, which are used in almost all Wi-Fi-related hardware products that support wide applications such as Cloud-based gaming, IoT, Video Streaming, smartphones, laptops, and industrial applications.

Based on vertical, healthcare and life sciences segment is expected to register the fastest growth rate during the forecast period.

Wi-Fi 7 and other wireless technologies are assisting and contributing to the healthcare industry in a variety of ways. Wi-Fi 7 helps to connect medical devices to the internet, allowing healthcare providers to supervise patients vaguely. This can help to improve patient care and reduce costs. Wi-Fi 7 can provide telehealth services, allowing patients to consult with healthcare providers remotely. This can make healthcare more accessible to patients who live in rural areas or who have difficulty traveling. A study by the American Hospital Association found that telemedicine saved hospitals an average of $1,200 per patient. Wi-Fi 7 helps to control surgical robots, which can help surgeons to perform more precise and accurate surgeries. It can also be used to collect data from medical devices and wearables, which can be used to improve medical research. A study by the National Institutes of Health found that using surgical robots can help reduce the risk of complications in surgery.

""Asia Pacific to register the highest growth rate during the forecast period.""

In Asia, the development and uptake of wireless technology has been nothing short of spectacular. Asia has quickly advanced from being a wireless addition to the world's innovation and adoption leader in just a few short decades. A variety of causes has facilitated this quick rise. The scale of the Asian market is just one factor. Moreover, half of the world's population, or more than 4.5 billion people, live in Asia. This creates a sizable potential market for wireless services and has assisted in lowering costs and increasing the accessibility of wireless technology for all users. People have had more money as their earnings have increased to spend on luxuries like cellular services. This has caused the demand for wireless products and services to soar, which in turn has encouraged innovation and investment in the wireless industry. Finally, the development of the wireless industry has been significantly aided by the Asian government.

Breakdown of primaries

The study contains insights from various industry experts, from solution vendors to Tier 1 companies. The break-up of the primaries is as follows:

By Company Type: Tier 1 – 35%, Tier 2 – 39%, and Tier 3 – 26%

By Designation: C-level –25%, D-level – 35%, and Others – 40%

By Region: North America – 35%, Europe – 20%, Asia Pacific – 44%, and Rest of World- 1%.

The major players in the Wi-Fi 7 market Qualcomm (US), Broadcom (US), TP-Link (China), ZTE (China), Mediatek (Taiwan), Keysight Technologies (US), MaxLinear (US), Huawei (China), Commscope (US), Vantiva (France), LitePoint (US), Rohde & Schwarz (Germany), Intel (US), HFCL (India), Netgear (US), SDMC Technology (China), Senscomm Semiconductor (China), H3C (China), VVDN Technologies (India), Actiontec Electronics (US), ADB Global (Switzerland), Ruijie Networks (China), and Edgewater Wireless Systems (Canada). These players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches, enhancements, and acquisitions to expand their footprint in the Wi-Fi 7 market.

Research Coverage

The market study covers the Wi-Fi 7 market size across different segments. It aims at estimating the market size and the growth potential across different segments, including offerings (hardware, solutions, and services), location type, application, vertical and region. The study includes an in-depth competitive analysis of the leading market players, their company profiles, key observations related to product and business offerings, recent developments, and market strategies.

Key Benefits of Buying the Report

The report will help the market leaders/new entrants with information on the closest approximations of the global Wi-Fi 7 market's revenue numbers and subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies. Moreover, the report will provide insights for stakeholders to understand the market's pulse and provide them with information on key market drivers, restraints, challenges, and opportunities.

The report provides insights on the following pointers:

Analysis of key drivers (The rising adoption of Internet of Things, Mitigation of network traffic and interference offered by Wi-Fi 7, Increasing focus on the quality of experience (QoE) for end users, and Growing demand for data-intensive, low-latency applications and use cases due to pandemic-driven lifestyle changes), restraints (high costs of installation and stringent government data regulations and guidelines), opportunities (deployment of OpenRoaming and Passpoint technology gathering pace, Wi-Fi 7 to offer key area of investment for new connectivity technologies, and growing adoption of 5G technology), and challenges (high probability of spectrum congestion) influencing the growth of the Wi-Fi 7 market. Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the Wi-Fi 7 market. Market Development: Comprehensive information about lucrative markets – the report analyses the Wi-Fi 7 market across various regions. Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the Wi-Fi 7 market. Competitive Assessment: In-depth assessment of market shares, growth strategies and service offerings of leading players Qualcomm (US), Broadcom (US), TP-Link (China), ZTE (China), Mediatek (Taiwan), Keysight Technologies (US), MaxLinear (US), Huawei (China), Commscope (US), Vantiva (France), LitePoint (US), Rohde & Schwarz (Germany), Intel (US), HFCL (India), Netgear (US), SDMC Technology (China), Senscomm Semiconductor (China), H3C (China), VVDN Technologies (India), Actiontec Electronics (US), ADB Global (Switzerland), Ruijie Networks (China), and Edgewater Wireless Systems (Canada).