Global Wi-Fi 7 Market 2023-2030

Global Wi-Fi 7 Market 2023-2030

Global Wi-Fi 7 Market Size, Share & Trends Analysis Report Market by Location Type (Indoor, and Outdoor), by Application (Social Cloud-Based Gaming, IoT and Industry, 8K Video Streaming & Video Conferencing, Telemedicine, and Other Applications), by Offering (Hardware, and Solutions & Services), and by Vertical (Education, Media and Entertainment, Retail, Residential, Healthcare & Life Sciences, and Other Verticals) Forecast Period (2023-2030)

The global Wi-Fi 7 market is anticipated to grow at a considerable CAGR of 52% during the forecast period. Wi-Fi 7 is the upcoming Wi-Fi standard, also known as IEEE 802.11be Extremely High Throughput (EHT). It works across all three bands such as 2.4 GHz, 5 GHz, and 6 GHz; which allows to fully utilize spectrum resources. Wi-Fi 7's goal is to deliver extraordinary speeds for every device with greater efficiency. It introduces 320 MHz ultra-wide bandwidth, 4,096-QAM, Multi-RU, and Multi-Link Operation to provide speed of 4.8 times faster than Wi-Fi 6 and 13 times faster than Wi-Fi 5.

The growing demand for an enhanced network, low latency, and bandwidth communications across enterprises is estimated to drive the market. Additionally, the significant increase in data traffic has accelerated the need for superior network connectivity across several verticals, such as corporate and industrial to get real-time and fast updates at anytime and anywhere. Wi-Fi 7 can link up smart home appliances like thermostats, lights, and security cameras, for instance. It is also capable of linking industrial IoT gadgets such as robots and sensors. These new programs are boosting interest in Wi-Fi 7 and expanding the market. However, one of the biggest commercial constraints is the high cost of Wi-Fi 7 devices. The complexity of Wi-Fi 7 devices makes them more challenging to deploy than Wi-Fi devices from earlier generations. Installers can end up paying more for services as a result.

Segmental Outlook

The global Wi-Fi 7 market is segmented by location Type, application, offering, and vertical. By location type, the market is segmented into indoor and outdoor. By application, the market is sub-segmented into social cloud-based gaming, IoT and industry, 8K video streaming & video conferencing, telemedicines, and other Applications. By offering, the market is segmented into hardware, solutions, and services. By vertical, the market is further segmented into education, media and entertainment, retail, residential, healthcare and life sciences, and other verticals. Wi-Fi 7 holds immense potential for transforming the media and entertainment industries, enhancing speed, range, and reliability. It enables seamless streaming of high-quality content, including 4K and 8K videos, without buffering or lag, enabling real-time delivery of premium content to consumers.

The Healthcare and Life Sciences Segment is Expected to Hold a Considerable Share of Wi-Fi 7 Market

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. 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. According to the American Hospital Association, Telehealth connects patients to vital healthcare services through videoconferencing, remote monitoring, electronic consults, and wireless communications. By increasing access to physicians and specialists, telehealth helps ensure patients receive the right care, at the right place, at the right time. Currently, 76 percent of U.S. hospitals connect with patients and consulting practitioners at a distance through the use of video and other technology.

Wi-Fi 7 helps to control surgical robots, which can help surgeons to perform more precise and accurate surgeries. A study by the National Institutes of Health found that using surgical robots can help reduce the risk of complications in surgery. The study concludes that robotic-assisted laparoscopic techniques are technically feasible in pediatric surgery and may be of benefit in treating various disorders in term and preterm infants. In May 2022, the study, published in JAMA and funded by The Urology Foundation with a grant from the Champniss Foundation, also found robotic surgery reduced the chance of readmission by half (52 per cent), and revealed a “striking” four-fold (77 per cent) reduction in prevalence of blood clots (deep vein thrombus & pulmonary emboli) - a significant cause of health decline and morbidity - when compared to patients who had open surgery.

Regional Outlook

The global Wi-Fi 7 market is further segmented based on geography, including North America (the US and Canada), Europe (Italy, Spain, Germany, France, and others), Asia-Pacific (India, China, Japan, South Korea, and others), and the Rest of the World (the Middle East & Africa and Latin America). North America is anticipated to be a major market for Wi-Fi technology. The region has a large and growing population of smartphone users, and there is a high demand for high-speed internet connectivity in homes and businesses.

Asia-Pacific is Expected to be the Largest Region in the Wi-Fi 7 market

The advancement and adoption of wireless technology have been nothing short of astounding in Asia. In only a few short decades, Asia has quickly gone from being the world's wireless addition to the innovation and adoption leader. This rapid development has been assisted by a number of factors. One aspect is the size of the Asian market. Additionally, Asia is home to more than 4.5 billion people or half of the world's population. This expands the size of the potential market for wireless services, helps to drive down prices, and makes wireless technology more widely available to all consumers. With rising incomes, people have more money to spend on luxuries like cellular services. With rising incomes, people have more money to spend on luxuries like cellular services. Due to this, demand for wireless goods and services has increased dramatically, which has sparked new ideas and financial investment in the sector. Furthermore, the Asian government has made a substantial contribution to the development of the wireless business.

Market Players Outlook

The major companies serving the global Wi-Fi 7 market include Qualcomm Technologies, TP-Link Corp. Ltd., MaxLinear Inc., Huawei Device Co., Ltd., and Edgewater Wireless among others. The market players are considerably contributing to the market growth by the adoption of various strategies, including mergers and acquisitions, partnerships, collaborations, and new product launches, to stay competitive in the market.

The Report Covers

Market value data analysis of 2022 and forecast to 2030.

Annualized market revenues ($ million) for each market segment.

Country-wise analysis of major geographical regions.

Key companies operating in the global Wi-Fi 7 market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.

Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

Analysis of market-entry and market expansion strategies.

Competitive strategies by identifying ‘who-stands-where’ in the market.