Wi-Fi Market Size Projected to Grow $31.3 billion by 2027, growing at a CAGR of 20.4%: Report by MarketsandMarkets

Chicago, Nov. 30, 2022 (GLOBE NEWSWIRE) -- The global Wi-Fi Market size to grow from USD 12.3 billion in 2022 to USD 31.3 billion by 2027, at a compound annual growth rate (CAGR) of 20.4% during the forecast period. An increasing number of internet users around the world is driving the growth of the Wi-Fi Market.

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347 – Tables
49 – Figures
272 – Pages

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Scope of the Report

The scope of this report covers the Wi-Fi Market by component, density, location type, organization size, vertical, and region.

By component, the hardware segment is estimated to account for the largest market share. The Wi-Fi hardware segment comprises access points, WLAN controllers, wireless hotspot gateways, and other hardware. The other hardware includes routers, switches, antennas, relays, and repeaters. In the healthcare and life sciences vertical, clinical information systems are integrated with medical devices. Thus, any loss of medical records of patients can result in issues for doctors during medical emergencies. Wi-Fi hardware such as Wireless hotspot gateways are used in different verticals, including retail and travel & hospitality, to retain customers and generate increased revenues through fast online service delivery.

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By location type, outdoor is estimated to account for higher CAGR during the forecast period. The outdoor Wi-Fi solution is when Wi-Fi access is provided outside of a building. Outdoor Wi-Fi is usually used as an extension of the internal wireless LAN network of an organization to give users a continuous Wi-Fi service. Scenarios for outdoor Wi-Fi include the outdoor areas of a school, college, university, holiday park, hospital, hotel or shopping center. Outdoor Wi-Fi operates in the 2.4 or 5GHz frequency and can achieve theoretical throughputs of up to 1.7Gbps—true throughputs depend mainly on client devices and the quality of the wireless access point.

By organization size, the SMEs segment is estimated to account for a higher CAGR during the forecast period. The adoption and acceptance of Wi-Fi solutions by SMEs would enable them to expand their existing customer base and enhance overall business efficiency. Demand for Wi-Fi solutions from SMEs operating in retail, education, travel and hospitality, and healthcare and life sciences verticals is increasing across the globe.

North America is projected to account for the largest market share among other regions in the Wi-Fi Market, and the trend is projected to continue until 2027. The US and Canada are the leading countries in the region. These countries have sustainable and well-established economic growth, empowering them to increasingly invest in R&D activities, thereby contributing to the development of the Wi-Fi Market.

Market Players

The major vendors covered in the Wi-Fi Market include Cisco (US), Juniper Networks (US), NETGEAR (US), Aruba (US), Huawei (China), Panasonic (Japan), Alcatel-Lucent Enterprise (France), Ericsson (Sweden), Extreme Networks (US), Fortinet (US), D-Link Systems (Taiwan), LEVER Technology Group (UK), Redway Networks (UK), Casa Systems (US), Broadcom (US), Ubiquiti Networks (US), Airtel (India), Orange Business Services (France), AT&T (US), Comcast Business (US), Vodafone (UK), iPass (US), Superloop (Australia), Telstra (Australia), Fujitsu (Japan), Cambium Networks (US), and Fon (Spain).

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