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WiFi Market Comprehensive Study Explores Huge Growth of USD 37.58 billion by 2028

Santosh Sargar



As per the report published by Fior Markets, the global WiFi market is expected to grow from USD 10 billion in 2020 and to reach USD 37.58 billion by 2028, growing at a CAGR of 17 % during the forecast period 2021-2028.

The WiFi market is witnessing significant growth form the past years, due to the growing global demand for wireless-enabled gadgets such as televisions, smartphones, tablets, and laptops, among other things. Because of its ease of use and maintenance, this technology helps businesses lower their overall network costs. It also saves money on network wiring and gives users more mobility than traditional wired networks. Wireless traffic is predicted to account for a significant portion of global internet traffic as a result of its numerous advantages. Over the forecast period, rising enterprise mobility requirements are expected to boost market expansion. Furthermore, the market is likely to be fueled by rising demand for data-intensive applications that require high bandwidth and speed.

Wi-Fi is a set of goods and services that adhere to a well-defined set of industry standards and facilitate Wireless Local Area Networking (WLAN) in both homes and offices, establishing a standard for WLAN. Computers and mobile devices connects to the internet and other private and public networks via Wi-Fi. Wi-Fi is a wireless network that uses radio technology to transmit high-speed data. Networks are crucial aspects that allow firms to expand their limits and decrease operational barriers to a considerable extent. Communities all over the world are data-driven, and decision-makers, both consumers and company developers, rely on substantial data analysis to make decisions that are freely available and accessible over the internet.

The COVID-19 epidemic has had an impact on all aspects of society, including individuals and corporations. The internet ecosystem has become increasingly important around the world. The reliance on online enterprises has expanded dramatically as a result of the COVID-19 outbreak. Various organisations around the world, like the Bill and Melinda Gates Foundation (BMGF) and the Wellcome Trust, are also banding together to help combat the COVID-19 epidemic.

Some notable players operating in global WiFi market include Cisco, Aruba Networks, Huawei Technologies Co. Ltd, Juniper Networks, Panasonic, Fortinet, NETGEAR, Alcatel-Lucent Enterprise, D-Link, Linus Tech Tips, Broadcom, Airtel, Comcast Business, Vodafone Motorola Solutions, Ubiquiti Networks, and Aerohive Networks.

  • Huawei launched AirEngine Wi-Fi 6 solutions in February 2020, allowing businesses to quickly deploy fully powered office networks with air-interface data rates of up to 10.75 Gbps.
  • In August 2019, Juniper Networks has launched four new wireless APs: AP63, AP33, AP32, and AP12, which expand the benefits of AI-driven Wi-Fi 6 to new verticals and use cases. Companies of all sizes and with a wide range of deployment requirements may now benefit from the insight, automation, performance, and actions uniquely given by the Juniper Mist wireless solution, which can be found in stores, schools, homes, and hospitals.
  • Wipro acquired digital engineering and manufacturing, a software start-up based in India, in June 2019 in order to expand its product line and develop in the field of digital engineering and manufacturing.

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Hardware segment dominated the market and held the largest market share of 35% in the year 2020

On the basis of component, the global WiFi market is segmented into hardware, solutions, and services. The hardware segment dominated the market and held the largest market share of 35% in the year 2020. This growth is attributed to the need for the market players to design, install, plan, and maintain the services offered by them.

Healthcare & Life Science systems segment dominated the market and held the largest market share of 36% in the year 2020

On the basis of application, the global WiFi market is segmented into healthcare & life science, education, retail, e-commerce. The vehicle assistance systems segment dominated the market and held the largest market share of 36% in the year 2020. This growth is attributed to the cost-efficient and reliable cloud Wi-Fi. Cloud technology improvements enable healthcare providers with cost-effective and dependable cloud Wi-Fi services. Several healthcare companies have implemented cloud-based technology because it enables for the real-time interchange of healthcare information between healthcare organisations and patients while also lowering costs.

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