Wi-Fi Market size is projected to grow from $9.4 billion in 2020 to $25.2 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 17.8%
Northbrook, IL 60062 — (SBWIRE) — 06/27/2022 — According to a new market research report “Wi-Fi Market by Component (Hardware, Solution, and Services), Density (High-density Wi-Fi and Enterprise-class Wi-Fi), Location Type (Indoor and Outdoor), Organization Size, Vertical (Education, Retail and eCommerce), and Region – Global Forecast to 2026″ published by MarketsandMarkets™, the post-COVID-19 Wi-Fi market size to grow from USD 9.4 billion in 2020 to USD 25.2 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 17.8% during the forecast period.
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The major growth drivers for the market include increasing need for robust network connectivity and adoption of Wi-Fi solutions in various verticals such as education, healthcare and life sciences, and retail and eCommerce, BFSI, and IT and telecom.
Major vendors in the global Wi-Fi market include Cisco (US), Ericsson (Sweden), Extreme Networks (US), Huawei (China), Juniper Networks (US), Panasonic (Japan), Fortinet (US), NETGEAR (US), Aruba (US), Alcatel-Lucent Enterprise (France), D-Link (Taiwan), Broadcom (US), Airtel (India), Orange Business Services (France), Comcast Business (US), Vodafone (UK), Telstra (Australia), Fujitsu (Japan), AT&T (US), Lever Technology Group (UK), Redway Networks (Buckinghamshire), Ubiquiti Networks (US), iPass (US), Superloop (Australia), Cambium Networks (US), CASA Systems (US), Fon (Spain).
By component, hardware segment to hold the largest market size during the forecast period
The hardware segment is expected to grow at the highest CAGR during the forecast period. The Wi-Fi hardware segment comprises access points, WLAN controllers, wireless hotspot gateways, and others. The others segment includes repeaters and relay. The integration of Wi-Fi with other devices has led to improved connectivity. Several verticals such as healthcare and life sciences and BFSI are highly dependent on wireless connectivity, and any kind of loss of connection may hamper their daily business operations.
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By vertical, healthcare and life sciences segment to grow at a higher CAGR during the forecast period
The healthcare and life sciences segment to witness a higher adoption rate in the coming years. The healthcare and life sciences vertical uses Wi-Fi for the centralized management of data to increase the scalability and reliability of the services offered. In the healthcare and life sciences industry, cloud Wi-Fi services enable easy and secure access to the medical history and other critical information of patients from anywhere at any time.
North America to hold the largest market size during the forecast period
North America, a technologically advanced region with a high number of early adopters and the presence of major market players, is expected to contribute the highest market share in terms of revenues during the forecast period. The growth in North America is mainly driven by the increasing adoption of integrated enterprise and business solutions for more flexible and agile business processes and operations. The demand for the adoption of wireless hotspots and Wi-Fi solutions and services is expected to increase due to the rise in wireless technology investments by the major companies in this region.
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