Wi-Fi 6 Market to Reach $64.12 Billion by 2031: Allied Market Research
Increase in number of internet users and rise in demand for wireless broadband during the Covid-19 pandemic have boosted the growth of the global Wi-Fi 6 market. The market across Asia-Pacific is projected to portray the fastest CAGR of 22.3% during the forecast period. The lockdown enforcement increased adoption of digital learning platforms for digital education, which fueled the market growth.
Portland, OR , Sept. 28, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global Wi-Fi 6 market generated $10.85 billion in 2021, and is estimated to reach $64.12 billion by 2031, witnessing a CAGR of 19.6% from 2022 to 2031. The report provides an in-depth analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario. The report is an essential and helpful source of information for leading market players, investors, new entrants, and stakeholders in formulating new strategies for the future and taking steps to strengthen their position in the market.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $10.85 billion |
| Market Size in 2031 | $64.12 billion |
| CAGR | 19.6% |
| No. of Pages in Report | 320 |
| Segments covered | Component, Enterprise Size, Location, Industry Vertical, and Region |
| Drivers | Increase in number of internet users |
| Rise in demand for wireless broadband during the Covid-19 pandemic | |
| Opportunities | Increase in use of public Wi-Fi in malls, stadiums, airports, and hotels |
| Restraints | Range of Wi-Fi 6 is less than that of the 5 GHz network |
Covid-19 Scenario:
- The Covid-19 pandemic drastically affected the businesses across the globe. However, the prolonged lockdown, especially in the Asian and European countries positively impacted the adoption of Wi-Fi 6 devices.
- During the pandemic, the number of Wi-Fi 6 connected devices experienced a steep increase. The lockdown enforcement heightened the adoption of digital learning platforms for digital education, which fueled the market growth.
- Manufacturers collectively were forced to deploy several agile approaches for quality control.
The global Wi-Fi 6 market report offers detailed segmentation of the market based on component, enterprise size, location, industry vertical, and region. The report provides an analysis of each segment and sub-segment with the help of tables and figures. This analysis helps investors, market players, and new entrants in determining the sub-segments to be tapped on to achieve growth in the coming years.
Based on offering, the solution segment accounted for the highest share in 2021, contributing to nearly three-fifths of the total share, and is expected to maintain its leadership status during the forecast period. However, the service segment is expected to manifest the highest CAGR of 21.0% from 2022 to 2031.
Based on location type, the outdoor segment held the largest share in 2021, accounting for nearly two-thirds of the market, and is expected to maintain its dominance in terms of revenue by 2031. However, the indoor segment is estimated to witness the largest CAGR of 21.0% during the forecast period.
On the basis of enterprise size, the large enterprises segment dominated the market in 2021, accounting for around three-fifths of the global Wi-Fi 6 market, and is projected to maintain its leading position throughout the forecast period. However, the SMEs segment is estimated to showcase the highest CAGR of 20.9% during the forecast period.
Based on industry vertical, the IT and telecom segment held the lion’s share in terms of revenue in 2021, contributing to more than two-fifths of the market. However, the travel and hospitality segment is projected to register the highest CAGR of 23.9% during the forecast period.
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Based on region, the market across North America accounted for the highest share in 2021, contributing to more than one-third of the total market share, and is projected to continue its leadership status by 2031. However, market across Asia-Pacific is projected to portray the fastest CAGR of 22.3% during the forecast period. The research also analyzes regions including Europe and LAMEA.
Leading players of the global Wi-Fi 6 market analyzed in the research include Apple Inc., Aruba Networks, Asustek Computer Inc., AT&T, Broadcom, Cisco Systems, Fortinet Inc., Hewlett-Packard Company, Huawei Technologies, Intel Corporation, Juniper Networks, Linksys Holdings, Inc., Microsoft Corporation, NXP Semiconductors, Qualcomm Inc., Samsung Electronics Co. Ltd, and Sterlite Technologies Limited.
The report analyzes these key players in the global Wi-Fi 6 market. These players have adopted various strategies such as new product launches, expansion, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments of every market player.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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