Wi-Fi 6 Market Size By Component (Device [Mesh Routers, Wireless Access Points, Home Gateways, Wireless Repeaters, Chipset], Services), By Band (Single Band, Dual Band, Tri Band), By Application (Commercial, Residential), By End-Use (Education, Consumer E

Wi-Fi 6 Market Size By Component (Device [Mesh Routers, Wireless Access Points, Home Gateways, Wireless Repeaters, Chipset], Services), By Band (Single Band, Dual Band, Tri Band), By Application (Commercial, Residential), By End-Use (Education, Consumer Electronics, Healthcare, Automotive & Transportation, Industrial, IT & Telecommunication), COVID-19 Impact Analysis, Growth Potential, Regional Outlook, Competitive Market Share & Forecast, 2023 - 2032

The global Wi-Fi 6 market is expected to witness substantial growth through 2032, owing to the rapidly increasing penetration internet and wireless services across the globe. Rising adoption of advanced communication devices and technologies such as IoT throughout the manufacturing sector is also slated to outline industry growth.

The information transmission capacity requirements of devices that are wirelessly connected to a network or internet-enabled are becoming more robust, which is subsequently necessitating the demand for advanced Wi-Fi network standard, positively affecting the industry outlook.

The global Wi-Fi 6 market landscape is classified into segments such as component, band, application, end-use, and regional landscape.

Based on component, the industry is classified into services and devices. With copious number of wireless devices entering the global market on an annual basis, the demand for support services is going up at a tremendous pace, fueling the services segment growth.

Favorable government initiatives such as reimbursement policies for Wi-Fi installations are also shaping segment share. For instance, in December 2021, the FCC launched the Affordable Connectivity Program to offer discounts on broadband services and reimbursements on Wi-Fi device purchase for eligible homes in America.

On the basis of the band, the industry is segmented into tri-band, dual-band, and single-band. The tri-band Wi-Fi 6 segment accounted for a market share of more than 35% in 2022. Going forward, growth of this segment is expected to be driven by increasing demand for Wi-Fi devices that have low latency, higher bandwidth, faster speed. The tri-band Wi-Fi devices allows users to enjoy immersive AR/VR gaming, and 4K/8K streaming, which requires fast download speeds, augmenting further segment growth.

With respect to the application spectrum, the industry is bifurcated into residential and commercial applications. The Wi-Fi 6 industry size from residential applications is expected to depict considerable growth, owing to the increasing adoption of AI and IoT in smart home appliances.

Many global governments are rolling out favorable initiatives to promote better security across the smart home device and IoT sector, further bolstering the segment expansion. Back in May 2020, the UK government launched a £400,000 funding pot for innovators to develop schemes to enhance the security of internet-based products such as smart home devices.

Based on end-use, the industry is classified into consumer electronics, automotive and transportation, healthcare, electronics, IT & telecommunications, industrial, education, and others. Amongst them, the industrial segment valuation is set to rapidly grow by 2032, owing to the growing number of manufacturing facilities, robotic devices, IoT-enabled devices, and AGVs, which require wireless connections to operate.

Increasing global government focus on boosting the local in-house manufacturing capacity of the country will further outline segment growth. These efforts call for there to be more manufacturing plants globally, creating the demand for more Wi-Fi devices.

From the regional perspective, the market is segmented into Europe, North America, LATAM, MEA, and Asia Pacific. The MEA Wi-Fi 6 market is projected to witness substantial growth due to the rising adoption of Wi-Fi devices in the region’s residential sector. Moreover, increasing demand for faster internet connections in the region’s pharmaceutical and oil & gas sectors will further support the industry expansion.