Wi-Fi Market worth $39.4 billion by 2028, growing at a CAGR of 22.2%: Report by MarketsandMarkets™

/EIN News/ -- Chicago, April 29, 2024 (GLOBE NEWSWIRE) -- The global Wi-Fi Market size is expected to grow from USD 14.5 billion in 2023 to USD 39.4 billion by 2028 at a Compound Annual Growth Rate (CAGR) of 22.2% during the forecast period, according to a new report by MarketsandMarkets™. As more regions worldwide gain internet access, there is a corresponding increase in the demand for Wi-Fi technology to enable wireless connectivity for various devices. Additionally, smart city initiatives, including connected infrastructure, drive the Wi-Fi Market.

Browse in-depth TOC on "Wi-Fi Market"

353 - Tables
46 - Figures
302 - Pages

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Wi-Fi Market Dynamics:

Drivers:

1. Rising adoption of digital solutions for quality wireless network connectivity
2. Increasing investments by telecom players in wireless network infrastructure
3. Adoption of smartphones and smart appliances to stay connected via remote technology
4. Increased implementation of BYOD and CYOD trends among organizations
5. Widespread adoption of IoT devices

Restraints:

1. Difficulty in securing Wi-Fi networks in SMEs targeted by cybercriminals
2. Contention loss and co-channel interference

Opportunities:

1. Government initiatives for smart city modules for urban infrastructure
2. Rapid evolution of carrier Wi-Fi
3. Continued upgrades in Wi-Fi standards

List of Key Players in Wi-Fi Market:

• Cisco (US)
• Ericsson (Sweden)
• Extreme Networks (US)
• Huawei (China)
• Juniper Networks (US)
• Panasonic (Japan)
• Fortinet ( US)
• Aruba (US)
• Alcatel-Lucent Enterprise (France)
• NETGEAR (US)

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This report covers the Wi-Fi Market by offering density, location type, application and vertical, and region.

The hardware segment is estimated to hold the highest market share. With the proliferation of high-bandwidth applications such as streaming 4K videos, online gaming, and IoT devices, there is a growing demand for faster and more reliable Wi-Fi connections. This demand necessitates developing and deploying advanced hardware components to support higher data transfer speeds.

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By region, North America is estimated to hold the highest market share during the forecast period. North America is mainly driven by increasingly adopting integrated enterprise and business solutions for more flexible and agile business processes and operations. The demand for the adoption of wireless hotspots and Wi-Fi solutions and services is expected to increase due to the rise in wireless technology investments by the major companies in this region. The key players in the Wi-Fi Market are making efforts to offer the largest Wi-Fi networks in the US and Canada, thereby providing a great opportunity for Wi-Fi service providers to increase their business footprint and serve competently in the market.

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