Wi-Fi 6 Market to Be Worth $18.2 Billion by 2031 - Exclusive Report by Meticulous Research®

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Jun 11, 2024, 10:01 ET

REDDING, Calif., June 11, 2024 /PRNewswire/ -- According to a new market research report titled, 'Wi-Fi 6 Market Size, Share, Forecast, & Trends Analysis by Device (Mesh Routers, Wireless Access Points, Home Gateways), Commercial Use (Enterprises, Consumers), Application (Consumer Electronics, AR/VR, Retail, Smart Cities, Healthcare), and Geography—Global Forecast to 2031,' the Wi-Fi 6 market is projected to reach $18.2 billion by 2031, at a CAGR of 25.2% from 2024 to 2031.

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Wi-Fi 6 is the latest generation of Wi-Fi technology that offers faster data transfer speeds than Wi-Fi 5, with a maximum theoretical throughput of up to 9.6 Gbps. Wi-Fi 6 allows for quicker downloads, smoother streaming, and better overall performance, especially in environments with multiple connected devices. Wi-Fi 6 supports the latest security protocols, namely WPA3, which provides stronger encryption and better protection against various security threats. The technology ensures that the data transmitted over Wi-Fi 6 networks remains secure and private and that sensitive information is safeguarded from unauthorized access. Wi-Fi 6 is widely used in applications such as consumer electronics, AR/VR, retail, healthcare, manufacturing, and smart cities.

The growth of the Wi-Fi 6 market is driven by the increasing demand for high-speed internet connectivity and the rising adoption of Wi-Fi 6 devices for smart home applications. However, the high initial investment requirements for implementing Wi-Fi 6 technology restrain the growth of this market. Furthermore, increasing investments in smart city projects are expected to generate growth opportunities for the players operating in this market. However, data security & privacy concerns are a major challenge impacting market growth. Additionally, the growing number of internet users and connected devices is a prominent trend in this market.

The Wi-Fi 6 market is segmented by device (mesh routers, wireless access points, home gateways, and wireless repeaters), commercial use (enterprises and consumers), application (consumer electronics, AR/VR, retail, healthcare, manufacturing, smart cities, and other applications), and geography. The study also evaluates industry competitors and analyzes the market at the regional and country levels.

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Based on device, in 2024, the wireless access points segment is expected to account for the largest share of around 41.0% of the Wi-Fi 6 market. The segment's large market share is attributed to the increasing adoption of wireless access points to handle more devices simultaneously without sacrificing performance. Wireless access points help improve coverage, providing more reliable connectivity throughout the coverage area. Wi-Fi 6 access points offer significant improvements in speed, capacity, efficiency, security, and support for emerging technologies.

However, the mesh routers segment is expected to register the highest CAGR during the forecast period. The growth of this segment is driven by mesh routers' capacity to utilize multiple nodes that work together to create a single and seamless Wi-Fi network. Wi-Fi 6 mesh routers provide faster speeds and better overall performance compared to traditional routers and come with built-in support for smart home devices and integrations with popular smart home platforms.

Based on commercial use, in 2024, the enterprises segment is expected to account for the larger share of around 65.0% of the Wi-Fi 6 market. However, the consumers segment is expected to register the higher CAGR during the forecast period. The growth of this segment is driven by the increasing adoption of Wi-Fi 6 for better data delivery, low latency, improved wireless performance, the growing use of Wi-Fi 6 in commercial applications due to its multi-device connection feature, better battery life, and reduced terminal device power consumption. Also, Wi-Fi 6 offers less bandwidth congestion in commercial use.

Based on application, in 2024, the consumer electronics segment is expected to account for the largest share of over 32.0% of the Wi-Fi 6 market. The segment's large market share is attributed to the increasing use of Wi-Fi 6 technology to improve the performance of consumer electronics products such as smartphones, tablets, laptops, smart TVs, and gaming consoles. Consumer electronics connected to Wi-Fi 6 networks are better protected from unauthorized access and data breaches. Also, Wi-Fi 6 provides consumer electronics with faster speeds, lower latency, improved battery life, and improved performance in crowded environments.

However, the smart cities segment is expected to register the highest CAGR during the forecast period.

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Based on geography, in 2024, North America is expected to account for the largest share of around 60.0% of the Wi-Fi 6 market. North America's significant market share can be attributed to the rising adoption of Wi-Fi-connected devices, the increasing demand for faster internet speeds, and government initiatives to promote the adoption of Wi-Fi 6 technology in the region.

However, Asia-Pacific is expected to register the highest CAGR of over 21.5% during the forecast period. The growth of this regional market is driven by rising consumer demand for high-speed & high-bandwidth internet connectivity, the rising number of connected devices, the high demand for public Wi-Fi6 hotspots, increasing smart city projects, and the increasing use of Wi-Fi 6 among enterprises in the region.

The key players operating in the Wi-Fi 6 market are Cisco Systems, Inc. (U.S.), Cypress Semiconductor Corporation (a part of Infineon Technologies AG) (U.S.), Aruba Networks (a part of Hewlett Packard Enterprise Company) (U.S.), D-Link Corporation (Taiwan), Marvell Technology, Inc. (U.S.), KAONMEDIA Co., Ltd. (Korea), Ruckus Wireless, Inc. (a part of Commscope Holding Company, Inc.) (U.S.), Cambium Networks Corporation (U.S.), Linksys Holdings, Inc. (U.S.), AsusTek Computer Inc. (Taiwan), TP-Link Corporation Limited (China), NETGEAR, Inc. (U.S.), Intel Corporation (U.S.), Huawei Technologies Co., Ltd. (a part OF Huawei Investment & Holding Co., Ltd.) (China), and Juniper Networks, Inc. (U.S.).

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Scope of the Report:

Wi-Fi 6 Market Assessment–by Device

Mesh Routers
Wireless Access Points
Home Gateways
Wireless Repeaters

Wi-Fi 6 Market Assessment—by Commercial Use

Enterprises
Consumers

Wi-Fi 6 Market Assessment–by Application

Consumer Electronics
AR/VR
Retail
Healthcare
Manufacturing
Smart Cities
Other Applications

Wi-Fi 6 Market Assessment–by Geography

North America
- U.S.
- Canada
Europe
- Germany
- U.K.
- France
- Italy
- Netherlands
- Spain
- Sweden
- Rest of Europe (RoE)
Asia-Pacific
- Japan
- China
- India
- South Korea
- Singapore
- Australia & New Zealand
- Indonesia
- Rest of Asia-Pacific (RoAPAC)
Latin America
- Mexico
- Brazil
- Rest of Latin America (RoLATAM)
Middle East & Africa
- UAE
- Saudi Arabia
- Israel
- Rest of Middle East & Africa (RoMEA)

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