Meticulous Research®—a leading global market research company, published a research report titled "Wi-Fi 6 Market by Devices (Mesh Routers, Access Points, Home Gateways, Repeaters), Commercial Use (Enterprises, Consumers), Application (Consumer Electronics, Healthcare, Manufacturing, Smart Cities, AR/VR, Others), and Geography — Global Forecasts to 2028".
The Wi-Fi 6 market is expected to grow at a CAGR of 73.8% by value from 2021 to reach $105.4 billion by 2028. The increasing demand for high-speed internet connection, growing number of internet users and devices, and rising adoption of Wi-Fi 6 Devices for smart home applications are some of the key factors driving the growth of the Wi-Fi 6 market.
The market is segmented based on devices, commercial use, application, and geography. The study also evaluates industry competitors and analyses the market at the country level.
Based on devices, the Wi-Fi 6 market is segmented into mesh routers, wireless access points, home gateways, and wireless repeaters. The wireless access points segment is expected to account for the largest share of the Wi-Fi 6 market in 2021. The large market share of this segment is attributed to its ability to extend the Wi-Fi range by adding more access points across businesses and homes and its ability to support simultaneous dual-band Wi-Fi used for connecting multiple types of devices.
However, the mesh routers segment is expected to grow at the highest CAGR during the forecast period. The high growth rate of this segment is mainly attributed to the ability of Wi-Fi 6 devices to easily access the internet, high mobility, and the ability to connect multiple devices with the router, each having a distinctive IP address.
Based on commercial use, the Wi-Fi 6 market is segmented into enterprises and consumers. In 2021, the enterprise segment is expected to account for the larger share of the Wi-Fi 6 market. The large market share of this segment is attributed to the extensive utilization of Wi-Fi 6 devices across small and medium-sized enterprises.
However, the consumer segment is expected to grow at the highest CAGR during the forecast period. The high growth rate of this segment is attributed to the faster speed, enhanced security, and lower latency provided by Wi-Fi 6 among electronic devices used by consumers.
Based on application, the Wi-Fi 6 market is segmented into consumer electronics, healthcare, AR/VR, retail, manufacturing, smart cities, and other applications. In 2021, the consumer electronics segment is expected to account for the largest share of the Wi-Fi 6 market. The large market share of this segment is attributed to better data delivery, low latency, and better wireless performance provided by Wi-Fi 6, enabling users to work with higher efficiency.
However, the smart cities segment is expected to grow at the highest CAGR during the forecast period. The high growth rate of this segment is attributed to numerous features provided by Wi-Fi 6, such as real-time travel updates or on-demand entertainment, simplification of network and device management, and real-time operational and business data collection.
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Based on geography, in 2021, North America is expected to account for the largest share of the Wi-Fi 6 market by value. The large market share is attributed to the presence of major Wi-Fi 6 device manufacturing companies in the region, rising adoption of Wi-Fi connected devices at homes, and increasing demand for fast internet speeds across North America.
Countries such as the U.S. and Canada are major contributors to the rising adoption of Wi-Fi 6 technology across the region. The U.S. Government and the Canadian Government are involved in various initiatives to promote the adoption of Wi-Fi 6 technology across their respective countries. For instance, in December 2020, the Federal Communications Commission approved Broadcom's BCM4389 chip as a Wi-Fi device to operate in the 6 GHz band. The ability to leverage the 6 GHz band for unlicensed Wi-Fi operation is referred to as Wi-Fi 6E to deliver faster connectivity speeds and improved capacity.
The key players operating in the Wi-Fi 6 market are Cisco Systems, Inc. (U.S.), Cypress Semiconductor Corporation (U.S.), Aruba Networks (U.S.), D-Link Corporation (Taiwan), Marvell Technology, Inc. (U.S.), KAONMEDIA Co., Ltd. (Korea), Ruckus Wireless, Inc. (U.S.), Cambium Networks Corporation (U.S.), Linksys Holdings, Inc. (U.S.), AsusTek Computer Inc. (Taiwan), TP-Link Corporation Limited (China), NETGEAR, Inc. (U.S.), Intel Corporation (U.S.), Huawei Technologies Co., Ltd. (China), and Juniper Networks, Inc. (U.S.).
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