Wi-Fi 6 Market Size & Share, by Offering (Hardware, Solutions, Services); Location Type (Outdoor, Indoor); Enterprise Size (Large Enterprise, SMEs); Devices (Mesh Routers, Wireless Access Point, Home Gateways, Wireless Repeaters); Application (Immersive Technologies, HD Video Streaming & Video Streaming); Vertical (Retail & E-Commerce, Government & Public Sector, Manufacturing) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 5866
  • Published Date: Mar 11, 2024
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024- 2036

Wi-Fi 6 Market size is poised to reach USD 53 Billion by the end of 2036, growing at a CAGR of 15% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of wi-fi 6 was USD 19 Billion. The major factor to dominate the market expansion is a surge in a number of internet users. The Internet has grown in importance as an everyday necessity due to its rising influence on both individual customers and huge economies. For instance, over 5 billion people accessed the internet as of January 2024, amounting to approximately 65 percent of the world's population. Therefore, there will be a greater need for Wi-Fi 6 and its related services as long as the number of internet users continues to rise.

Furthermore, Target Wake Time (TWT), Multi-User Multiple Input Multiple Output (MU-MIMO), and Orthogonal Frequency Division Multiple Access (OFDMA) are among the new features of Wi-Fi 6. The popularity of Wi-Fi 6 devices is fueled by these developments, which improve user experiences, boost throughput, and improve network efficiency. 


Wi-Fi 6 Market
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Wi-Fi 6 Sector: Growth Drivers and Challenges

Growth Drivers

  • Surging Number of IoT Connected Devices - There are more than 13 billion connected IoT devices worldwide. By 2030, there are projected to be about 24 billion IoT devices worldwide. Businesses may function more intelligently and productively owing to this unparalleled connection, which is also revolutionizing sectors including manufacturing with its use of machine learning and autonomous operations. However, it was previously challenging to satisfy these criteria with a single technology. Hence, Wi-Fi 6 is a proving solution to this challenge which is why its popularity is growing. Wi-Fi 6 ensures connectivity indoors, in public spaces and connected structures, and in underserved areas where 5G is significantly less successful. It does this by offering improved performance, reduced latency, and quicker data rates. In conclusion, a variety of characteristics and capabilities provided by Wi-Fi 6 technology may assist in optimizing IoT performance in a variety of contexts, ranging from large-scale companies to private residences.
  • Rising Number of Employees Working Remotely  - Reliable and fast internet connectivity is becoming more and more necessary as the practice of hybrid working—where workers work both in-office and remotely—continues to expand. The sophisticated characteristics of Wi-Fi 6 render it an excellent choice for meeting the needs of hybrid work settings. For distant workers, Wi-Fi 6 ensures seamless connectivity with more network capacity, quicker data rates, and better performance in crowded places. In order to safeguard confidential company data, it also provides improved security measures. The Wi-Fi 6 market is expanding as a result of businesses adopting hybrid work patterns, which increase the need for Wi-Fi 6 devices to modernize outdated infrastructure and provide dependable and effective wireless access.
  • Growing Spending on Smart Cities - From more than 80 billion US dollars in 2018 to over 188 billion dollars in 2023, it has been projected that globally technology investment in smart city initiatives will more than double between 2018 and 2023. As a result, the market demand for wifi 6 is also projected to rise. 

Challenges

  • Growing Privacy & Security Concern - Concerns about data security and privacy present serious obstacles that call for preventative action. The possibility of illegal access to private data is one of the main obstacles. Hackers have the ability to collect and exploit data transferred across WiFi networks in the absence of appropriate authentication and encryption procedures, resulting in financial losses and data breaches. Furthermore, the spread of Internet of Things (IoT) devices in corporate settings creates new security holes since these gadgets might not have strong security safeguards in place and could act as entry points for hackers. In this case, high-speed, secure internet connection is provided by Wi-Fi systems and related services. Enterprise process disruptions have a big impact on the whole company. Consequently, a number of businesses are hesitant to implement Wi-Fi services and solutions.
  • Growing C0-Channel Interference
  • Absence of Compatibility - Both the client devices and the access points must support Wi-Fi 6 in order to upgrade. As a result of this, customers may embrace Wi-Fi 6 more slowly as they wait for Wi-Fi 6-compatible devices to become more widely available or for their current equipment to become outdated. 

Wi-Fi 6 Market: Key Insights

Base Year

2023

Forecast Year

2024-2036

CAGR

~15%

Base Year Market Size (2023)

~ USD 19 Billion

Forecast Year Market Size (2036)

~ USD 53 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Wi-Fi 6 Segmentation

Location Type (Outdoor, Indoor)

The outdoor segment in the wi-fi 6 market is set to gather the highest revenue share of 60% over the coming years. Outdoor access points operate similarly to interior access points, however together with higher power levels and purpose-built antennas. Furthermore, with the rise in commercial infrastructure and small businesses, the need for outdoor wi-fi 6 is set to rise. For instance, currently, there are over 399 small businesses all across the globe. Many small businesses including restaurants, clothing, bars, and even hair saloons are considering to expand their business outdoors. This is since, outdoor dining, shopping, and exercising have been some of the pandemic's highlights for a lot of patrons. When it came to restaurants, opinions about sitting outside swiftly changed from being forced to being preferred. Outdoor Wi-Fi is one of the necessities in this new corporate normal. Moreover, about 95% of consumers anticipate receiving free Wi-Fi as part of their experience according to one of the researchers. As a result, the demand for outdoor wi-fi 6 is estimated to rise. 

Vertical (Retail & E-Commerce, Government & Public Sector, Manufacturing, Media & Entertainment, Healthcare & Lifesciences, Transportation & Logistics, Travel & Hospitality, Education, Residential)

The education segment in the wi-fi 6 market is predicted to gather the highest revenue share of about 30% over the coming years. This is since, a strong and rapid web connection is now critically needed due to the growing trend of e-learning in colleges and institutions. Educational institutions are able to better meet this demand due to the introduction of Wi-Fi 6. Wi-Fi 6 is perfect for supporting many students accessing online resources at once since it provides faster data speeds, more network capacity, and enhanced performance in congested areas. As a result of this, the market for Wi-Fi 6 devices is rising as more educational institutions upgrade their networks to accommodate the ever-expanding realm of e-learning.

Our in-depth analysis of the global market includes the following segments:

          Offering

  • Hardware
  • Solutions
  • Services

          Location Type

  • Outdoor
  • Indoor

           Enterprise Size

  • Large Enterprise
  • SMEs

          Devices

  • Mesh Routers
  • Wireless Access Point
  • Home Gateways
  • Wireless Repeaters

          Application

  • Immersive Technologies
  • HD Video Streaming & Video Streaming
  • Smart Home Devices
  • IoT & Industry 4.0
  • Telemedicine
  • Public Wi-Fi & Dense Environment

          Vertical

  • Retail & E-Commerce
  • Government & Public Sector
  • Manufacturing
  • Media & Entertainment
  • Healthcare & Lifesciences
  • Transportation & Logistics
  • Travel & Hospitality
  • Education
  • Residential

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Wi-Fi 6 Industry- Regional Synopsis

APAC Market Forecast

The Asia Pacific wi-fi 6 market is estimated to gather the highest revenue share of about 35% over the forecast period. The growth of the market in this region is set to be dominated by a rising number of startups and manufacturers who are offering wi-fi 6 services. Additionally, this is also experiencing growing urbanization which is demanding high-speed internet connection. Roughly 2.2 billion people, or 54% of the world's metropolitan population, reside in Asia. Asia's urban population is estimated to increase by 50% by 2050, adding 1.2 billion new residents. As a result, this factor is also projected to encourage market expansion in this region.

North American Market Analysis

The North America wi-fi 6 market is also set to have notable growth over the forecast period. The major element influencing the market expansion in this region is the growing demand for smart homes. Additionally, the development of smart house technology has drawn significant investments and a plethora of entrepreneurs to the United States, which has emerged as a hub for smart home innovation. Hence, this factor is set to significantly impact the growth of the wi-fi 6 market in this region.   

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Wi-Fi 6 Market Size
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Companies Dominating the Wi-Fi 6 Landscape

top-features-companies
    • Nokia Corporation
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Broadcom Inc.
    • ADTRAN, Inc.
    • Extreme Networks
    • Hewlett Packard Enterprise Development LP
    • Cisco Systems, Inc.
    • Cambium Networks, Ltd.
    • Fortinet, Inc.
    • Arista Networks, Inc.
    • Riverbed Technology LLC

In-the-news

In The News

  • Nokia announced that it has partnered with TATA Play Fibre to provide the first WiFi6-capable broadband network in India. There is a large need for new, high-capacity broadband connections due to the rising use of broadband in both residential and business regions. Broadband networks need future-proof fibre and in-home solutions that can scale to meet changing end-user needs in order to fulfil this demand.
  • With a focus on WLAN applications such as set-top boxes, residential gateways, wireless range extenders, and Wi-Fi routers, Broadcom Inc. has announced the release of its 3x3 Wi-Fi 6 chip, the BCM6710. OEMs may now offer their mass-market goods a high-performance, affordable option with the BCM6710, a highly optimized Wi-Fi 6 chip with integrated RF power amplifiers.

Author Credits:  Abhishek Verma, Hetal Singh


  • Report ID: 5866
  • Published Date: Mar 11, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

The major factors driving the growth of the market are surging number of IoT connected devices, rising number of employees working remotely, and growing spending on smart cities.

The market size of wi-fi 6 is anticipated to attain a CAGR of 15% over the forecast period, i.e., 2024-2036.

The major players in the market are Nokia Corporation, Broadcom Inc., ADTRAN, Inc., Extreme Networks, and others.

The outdoor segment is anticipated to garner the largest market size by the end of 2036 and display significant growth opportunities.

The market in the Asia Pacific region is projected to hold the largest market share by the end of 2036 and provide more business opportunities in the future.
Wi-Fi 6 Market Report Scope
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