The global Wi-Fi 6 Technology market was valued at US$ 18.01 Bn in 2022. The Wi-Fi 6 Technology market has been witnessing significant growth in recent years. Wi-Fi 6, also known as 802.11ax, offers improved network performance, higher data transfer speeds, and enhanced capacity compared to previous Wi-Fi standards. The market is being driven by the increasing adoption of smart devices, the growing demand for high-speed internet connectivity, and the emergence of bandwidth-intensive applications and technologies such as 4K video streaming, virtual reality, and IoT devices. Furthermore, the proliferation of remote work, e-learning, and hybrid work models has further fueled the demand for Wi-Fi 6 Technology, making it a key focus for manufacturers and consumers alike.
Global Wi-Fi 6 Technology Market: Drivers
Increased bandwidth demand
The rising demand for faster and more efficient wireless connectivity is driven by the increasing prevalence of bandwidth-intensive applications including video streaming, online gaming, and cloud-based services. Wi-Fi 6 effectively caters to this need by offering improved network capacity and higher data transfer rates.
Global Wi-Fi 6 Technology Market: Opportunities
Industry standardization
Wi-Fi 6 has been standardized by the Institute of Electrical and Electronics Engineers (IEEE), ensuring interoperability and compatibility across different vendors and devices. This standardization encourages widespread adoption and drives the growth of the Wi-Fi 6 Technology market.
Global Wi-Fi 6 Technology Market: Restraints
Increasing cyber threats and decreasing government spending on explosive detectors
The increase in cyber threats is causing concerns for the widespread adoption of Wi-Fi 6 technology, as security vulnerabilities can expose sensitive data and lead to potential breaches. Organizations and end users are hesitant to embrace Wi-Fi 6 fully without robust security measures in place, creating a barrier to its market growth due to the growing importance of safeguarding against cyberattacks.
Moreover, Wi-Fi 6 Technology may come with a higher price tag compared to previous Wi-Fi standards. The increased cost of Wi-Fi 6 access points and devices can be a deterrent for smaller businesses or individuals operating on a limited budget. The higher expense associated with Wi-Fi 6 Technology may make it challenging for these entities to invest in upgrading their network infrastructure to support the new standard. As a result, the cost barrier can limit the adoption of Wi-Fi 6, particularly among those with financial constraints.
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Key Takeaways:
The global Wi-Fi 6 Technology market was valued at US$ 18.01 Bn in 2022 and is estimated to reach a value of US$ 51.6 Bn by 2030 at a CAGR of 14.1% between 2023 and 2030.
Solution segment dominated the global market in 2022, accounting for 62.0% share in terms of value, followed by Services.
Global Wi-Fi 6 Technology Market: Trends
Growth in video streaming and gaming.
Increasing video streaming and gaming are significant drivers for the Wi-Fi 6 market. With the increasing popularity of high-definition video streaming platforms and online gaming, there is a growing demand for faster and more reliable internet connectivity. Wi-Fi 6, with its higher data transfer rates and improved network capacity, addresses these requirements. The advanced features of Wi-Fi 6, such as Orthogonal Frequency Division Multiple Access (OFDMA) and Multi-user Multiple Input Multiple Output (MU-MIMO), enhance the streaming and gaming experience by reducing latency and improving network efficiency. As a result, the market for Wi-Fi 6 Technology is witnessing growth as consumers seek to enhance their video streaming and gaming experiences.
Global Wi-Fi 6 Technology Market: Competitive Landscape
The key market players include ADTRAN, Inc., Aerohive Networks, Aruba Networks (Hewlett Packard Enterprise), Cisco Systems, Inc. (including Cisco Meraki), Extreme Networks Inc., Fortinet, Huawei Technologies Co., Ltd., Mojo Networks, Inc., Riverbed Technology, Inc., Cambium Networks, Ltd., Ruckus Networks, TP-Link Technologies Co., Ltd., and Ubiquiti Networks.
Global Wi-Fi 6 Technology Market: Recent Developments
In October 2021, Qualcomm, a U.S.-based multinational corporation that creates semiconductors, software, and services related to wireless technology, launched the Networking Pro 1610 Platform, which is a fully integrated Wi-Fi 6E platform ideally suited for enterprise-class applications such as large corporate campuses and venues. It is an industry leading, 16-stream offering featuring Qualcomm Tri-Band Wi-Fi 6.
In March 2021, Intel, Semiconductor corporation launched Wi–Fi 6 (Gig+) adapter, which supports the new IEEE 802.11ax standard - Wi–Fi 6 technology and is Wi-Fi CERTIFIED 6. The product supports 2x2 Wi-Fi 6 technology including new features, such as UL and DL OFDMA and 1024 QAM, delivering data rates of up to 2.4 Gbps and increased network capacity as well as Bluetooth 5.1 support.
