According to a new market 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% from 2021–2028 to reach $105.4 billion by 2028.
Wi-Fi 6 is the next generation of Wi-Fi used to improve the network when a high number of devices are connected. Wi-Fi 6 devices, such as mesh routers, wireless access points, home gateways, and wireless repeaters, provide faster speed, increased efficiency, and transfer data more efficiently than previous generations of Wi-Fi.
Wi-Fi 6 offers buffer-free streaming and faster downloads and can connect several smart home devices without affecting the latency. The companies manufacturing Wi-Fi 6 devices use Wi-Fi 6 technology across various applications, such as consumer electronics, AR/VR, retail, healthcare, manufacturing, and smart cities.
The growth of this market is backed by the increasing demand for high-speed internet connection, the growing number of internet users and devices, the rising adoption of Wi-Fi 6 devices across various smart home applications, increasing investments in smart city projects, and continued upgrades in Wi-Fi standards.
However, the high initial investment in Wi-Fi 6 technology restrains the growth of this market to a certain extent. Additionally, data security and privacy concerns and the rising demand for 5G devices pose a challenge for the growth of the Wi-Fi 6 market.
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Impact of COVID-19 on the Wi-Fi 6 Market
The COVID-19 pandemic caused widespread economic downturns in the global economy as several countries imposed strict lockdowns to contain the infection. The pandemic severely affected several industry verticals, such as consumer electronics, healthcare, manufacturing, and retail. Wi-Fi networks significantly contributed to national resilience during the COVID-19 pandemic due to increased internet traffic, the need to maintain high-performance supply and distribution chains, purchasing goods and services online via e-commerce, using e-health applications, and attending online classes via virtual platforms.
The COVID-pandemic led numerous organizations to shift to a work-from-home business model. As the pandemic prevails, most employers and organizations plan to continue this business model and allow their employees to work from home. The growing usage of applications such as video, telemedicine, and navigation systems has resulted in faster growth of internet traffic. The rising internet traffic and users worldwide have led to network congestion, making network devices slow. To overcome this problem, numerous users have started switching to Wi-Fi 6 access points and routers for sufficient high-speed coverage across multiple users, improved network efficiency, longer device battery life, and low latency rates.
Increasing Investments in Smart City Projects
The rising number of smart city projects across the globe has increased the adoption of Wi-Fi 6 technology to deliver faster speed and more pervasive wireless broadband coverage across high-density environments. Factors, such as delivering fast speed connectivity in large venues, busy campuses, and congested mass-transit hubs; ability to provide high bandwidth and high user density across indoor applications, such as stadiums, convention centers, shopping malls, school campuses, and other places; enhanced security features; and increased device connection capacity, provides significant opportunities for the adoption of Wi-Fi 6 technology across the globe.
The governments of developing and developed countries are making large investments in smart city projects to support the adoption of Wi-Fi 6 technology globally. For instance, in 2020, the Government of India allocated a total investment of USD 28.31 billion (Rs. 205,018 crores) for the Smart City Mission. Through this investment, 5,331 projects worth USD 24.31 billion (Rs. 176,059 crores) have been tendered as of 2020. As of 2020, work orders for 4,540 projects worth USD 19.33 billion (Rs. 139,969 crores) have been issued, and 2,122 projects worth USD 4.83 billion (Rs. 34,986 crores) have been completed in the year 2020.
To provide efficient analysis, Meticulous Research® has segmented this market based on devices (mesh routers, wireless access points, home gateways, and wireless repeaters), commercial use (enterprises, and consumers), application (consumer electronics, AR/VR, retail, healthcare, manufacturing, smart cities, and other applications), and geography (North America, Asia-Pacific, Europe, Latin America, and the Middle East & Africa).
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 the ability of Wi-Fi 6 technology to extend the Wi-Fi range by adding more access points across enterprises and homes and the rising adoption of Wi-Fi 6 to support dual-band Wi-Fi for connecting multiple devices.
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However, the mesh routers segment is expected to grow at the highest CAGR by value during the forecast period.
Based on commercial use, the Wi-Fi 6 market is segmented into enterprises and consumers. The enterprises segment is expected to account for the larger share of the Wi-Fi 6 market in 2021. The large market share of this segment is attributed to features provided by Wi-Fi 6 technology, such as high-performance multi-radio routing protocols, uninterrupted coverage, and the growing adoption of high-speed Wi-Fi access points across outdoor and indoor enterprises.
However, the consumers segment is expected to grow at the highest CAGR by value during the forecast period.
Based on application, the Wi-Fi 6 market is segmented into consumer electronics, healthcare, AR/VR, retail, manufacturing, smart cities, and other applications. The consumer electronics 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 increased battery life, multi-device connection features, reduced terminal device power consumption, and higher data transfer provided by Wi-Fi 6 technology across electronic devices.
However, the smart cities segment is expected to grow at the highest CAGR by value during the forecast period.
Based on geography, the market is segmented into five major regions: North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Asia-Pacific is expected to witness the fastest growth by value during the forecast period. The high market growth rate of this region is attributed to the growing consumer demand for the internet, the rising number of connected devices, and the high demand for public Wi-Fi 6 hotspots.
China is considered one of the major contributors of Wi-Fi 6 technology in the region. Factors such as the rising number of smartphone users and the development of various Wi-Fi 6 devices by public and private companies are driving the growth of this market in the country.
According to CNBC, the number of internet users in China rose to 989 million, with more than 80 million opting for online facilities during the COVID-19 pandemic. In December, online shoppers and video streamers significantly rose from 76.33 million to 927 million. Nearly 94% of all Chinese internet users watch online videos, far more than the 79% who shopped online. Short video users alone climbed by 100 million from March to 873 million at the end of the year. Livestreaming e-commerce users also surged by 123 million from March to 388 million in December. Thus, the increasing utilization of internet services is likely to accelerate the demand for high Wi-Fi 6 speed in the market.
The global Wi-Fi 6 market is dominated by the top three players, namely, Huawei Technologies Co., Ltd. (China), Cisco Systems, Inc. (U.S.), and D-Link Corporation (Taiwan).
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Huawei Technologies Co., Ltd.
Huawei Technologies Co., Ltd. dominated the global Wi-Fi 6 market by holding the first position in 2020. The company Huawei is a provider of information and communications technology infrastructure and smart devices. The company operates through four business segments: Carrier Business, Enterprise Business, Consumer Business, and Other Items. The company provides gigabit 5G networks, gigabit fixed networks, and Wi-Fi 6 networks for homes.
Cisco Systems, Inc.
Cisco Systems, Inc. held the second position in the global Wi-Fi 6 market in 2020. Cisco designs and sells a broad range of technologies. The company provides integrating intent-based technologies across networking, security, collaboration, applications, and the cloud. The company operates its business through four segments: Infrastructure Platforms, Applications, Security, and Other Products. The company’s offerings cater to businesses of all sizes, public institutions, governments, and service providers. In addition, the company is expanding its research and development (R&D) investments in certain product areas such as cloud security, cloud collaboration, and application insights and analytics.
The other key players operating in the Wi-Fi 6 market are 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.), and Juniper Networks, Inc. (U.S.).
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Scope of the Report
Wi-Fi 6 Market, by Devices
- Mesh Routers
- Wireless Access Points
- Home Gateways
- Wireless Repeaters
Wi-Fi 6 Market, by Commercial Use
- Enterprises
- Consumers
Wi-Fi 6 Market, by Application
- Consumer Electronics
- AR/VR
- Retail
- Healthcare
- Manufacturing
- Smart Cities
- Other Applications
Wi-Fi 6 Market, by Geography
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- South Korea
- India
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
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