IMARC Group, a leading market research company, has recently releases a report titled “Wi-Fi Market Report by Component (Hardware, Solutions, Services), Density (High-Density Wi-Fi, Enterprise-Class Wi-Fi), Location Type (Indoor, Outdoor), Organization Size (Large Enterprises, Small and Medium-sized Enterprises), Industry Vertical (IT and Telecommunication, Education, BFSI, Healthcare, Logistics and Transportation, Retail, Government, and Others), and Region 2024-2032.” The study provides a detailed analysis of the industry, including the global Wi-Fi market size, report, share, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How big is the Wi-FiMarket?
The global Wi-Fi market size reached US$ 31.8 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 89.8 Billion by 2032, exhibiting a growth rate (CAGR) of 12% during 2024-2032.
What is Wi-Fi?
Wireless fidelity (Wi-Fi) is a technology that enables devices to exchange data wirelessly using radio waves. It operates in two primary frequency bands, including 2.4 GHz, which provides better coverage and can penetrate walls, and 5 GHz, which offers faster data rates and is less crowded. It is secured by using various encryption protocols, such as wired equivalent privacy (WEP), wi-fi protected access (WPA), and wi-fi protected access 2/ wi-fi protected access 3 (WPA2/WPA3). It relies on strong, unique passwords to update encryption protocols and protect against unauthorized access.
Wi-Fi can operate in different modes, including infrastructure mode (connecting to a central access point) and ad-hoc mode (peer-to-peer connection between devices). It depends on factors like the frequency band, power output, and obstacles in the environment. It provides various speeds, which are measured in megabits per second (Mbps) or gigabits per second (Gbps). It can be affected by interference from other electronic devices, neighboring Wi-Fi networks, or physical obstacles like walls and furniture. It uses multiple devices (nodes) to create a mesh network, improving coverage and eliminating dead zones in large or multi-story buildings. Wi-Fi eliminates the need for physical cables, providing users with the freedom to connect and access the internet from anywhere within the network range. It enhances productivity by enabling multiple devices to connect to the internet and share data simultaneously.
Wi-FiMarket Trends and Industry Demand:
At present, the increasing demand for Wi-Fi as it allows for mobile connectivity, enabling users to access the internet and network resources on the go, represents one of the crucial factors impelling the growth of the market. Besides this, the rising integration of internet of things (IoT) devices in the industrial sector to automate various operations and achieve operational efficiency is contributing to the market growth.
In addition, the synergy between 5G and Wi-Fi is creating new opportunities, especially in densely populated areas and urban environments where the demand for seamless connectivity is exceptionally high. This collaboration is leading to the development of hybrid networks that leverage both technologies to provide enhanced coverage and performance. Apart from this, governing agencies and municipal authorities worldwide are investing in smart city initiatives to improve urban infrastructure, enhance public services, and foster economic development.
Public Wi-Fi networks play a crucial role in enabling these smart city initiatives by providing residents and visitors with free or affordable internet access in public spaces, transportation hubs, and other strategic locations. Additionally, the rise of remote work and the adoption of hybrid work models is driving the demand for strong Wi-Fi connections to support remote collaboration and communication. Moreover, the increasing advancements in Wi-Fi technology, such as the introduction of Wi-Fi 6, which offers improved speed, capacity, and efficiency, are bolstering the market growth.
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Who are the leaders in the Wi-Fi market?
- 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
- Ubiquiti Inc
What is included in market segmentation?
The report has segmented the market into the following categories:
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
Key highlights of the report:
- Market Performance
- Market Outlook
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic, and technological developments for business leaders in pharmaceutical, industrial, and high-technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology, and novel processing methods are at the top of the company’s expertise.
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