Global Wi-Fi 6 Market Analysis Report 2022: Increasing Number of Internet Users, Rise in the Adoption of IoT Devices, & Growing Need for Faster and Secure Network – Forecast to 2027 – GlobeNewswire
Dublin, May 26, 2022 (GLOBE NEWSWIRE) — The “Wi-Fi 6 Market with COVID-19 Impact Analysis, by Offering (Hardware, Solution, and Services), Location Type (Indoor and Outdoor), Organization Size, Vertical (Education, Healthcare, Government, Manufacturing) and Region – Global Forecast to 2027” report has been added to ResearchAndMarkets.com’s offering.
The publisher forecasts the global Wi-Fi 6 market size is expected to grow from USD 11.5 billion in 2022 to USD 26.2 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 17.9% during the forecast period. The Wi-Fi 6 market is gaining traction due to increasing number of internet users.
The development of various Wi-Fi-enabled devices in the market has increased consumers’ demand, which in turn has increased the sale of smart home and work devices. Devices, such as lighting systems and thermostats, are already installed in homes and workplaces across developed countries, such as the US, Japan, and Germany.
The developed countries are witnessing large-scale deployments of smart home security and other vehicle infotainment devices. Smart devices need to connect with other devices via homogeneous or heterogeneous networks. Wi-Fi 6 makes the integration and interconnection with other devices easy and less complex.
Due to the “smart” technology integrated into the devices, consumers can remotely operate them to manage their operations. The Wi-Fi feature is a mandatory requirement for smart technology-enabled devices. Over time, the IEEE standards have also evolved from 802.11 to 802.11ax. Moreover, Wi-Fi 6 has increased the speed of wireless connectivity.
By Offering, the hardware to record a larger market share during the forecast period
The Wi-Fi 6 Market is segmented into hardware, solution, and services. The hardware segment includes WAP, mesh routers, home gateways, and wireless repeaters. Services include professional services and managed services. The growing demand for Wi-Fi 6 solutions and services, and the increasing requirement for improved connectivity among enterprises are leading to the growth of the Wi-Fi 6 market across the globe.
By Region, Asia Pacific to grow at the highest CAGR during the forecast period
The Asia Pacific is home to many developing economies, and many countries in this region are adopting new technologies to comply with procedures for increasing the efficiency of financial systems. The key countries include Australia, Japan, Singapore, India, China, and New Zealand. The region is expected to witness the fast-paced adoption of Wi-Fi 6 software.
The Asia Pacific is estimated to be the fastest-growing Wi-Fi 6 Market owing to the rise in the adoption of new technologies, high investments for digital transformation, the rapid expansion of domestic enterprises, extensive development of infrastructures, and increasing GDP of various countries. Rapidly growing economies, such as China, Japan, Singapore, and India, are implementing Wi-Fi 6 solutions across multiple business processes to provide effective solutions.
- Increasing Number of Internet Users Drives the Market Growth During the Forecast Period
- Solution Segment to Hold the Largest Market Share in 2022
- Indoor to Hold a Larger Market Share in 2022
- Large Enterprises to Hold a Larger Market Share in 2022
- Education to Hold the Largest Market Share in 2022
- North America to Hold the Largest Market Share in 2022
- Asia-Pacific to Emerge as the Best Market to Invest in During the Forecast Period
- Increasing Number of Internet Users
- Rise in the Adoption of IoT Devices
- Growing Need for Faster and Secure Network
- Contention Loss and Co-Channel Interference</…….