Wi-Fi 6 Market is Anticipated to Grow at a CAGR of 19.6% through 2022 to 2031 | Analysis by Trends, Size, Share
The rise in the number of internet users has further boosted the Wi-Fi 6 market growth.
PORTLAND, PORTLAND, OR, UNITED STATE, March 29, 2023 /EINPresswire.com/ — The increase in the number of internet users and the rise in demand for wireless broadband during the Covid-19 pandemic have boosted the growth of the global Wi-Fi 6 market. The market across Asia-Pacific is projected to portray the fastest CAGR of 22.3% during the forecast period. The lockdown enforcement increased the adoption of digital learning platforms for digital education, which fueled the market growth.
According to the report published by Allied Market Research, the global Wi-Fi 6 market generated $10.85 billion in 2021, and is estimated to reach $64.12 billion by 2031, witnessing a CAGR of 19.6% from 2022 to 2031. The report provides an in-depth analysis of changing market trends, top segments, key investment pockets, value chains, regional landscapes, and competitive scenarios.
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The report is an essential and helpful source of information for leading market players, investors, new entrants, and stakeholders in formulating new strategies for the future and taking steps to strengthen their position in the market.
The global Wi-Fi 6 market report offers detailed segmentation of the market based on component, enterprise size, location, industry vertical, and region. The report provides an analysis of each segment and sub-segment with the help of tables and figures. This analysis helps investors, market players, and new entrants in determining the sub-segments to be tapped into to achieve growth in the coming years.
Based on the offering, the solution segment accounted for the highest share in 2021, contributing to nearly three-fifths of the total share, and is expected to maintain its leadership status during the forecast period. However, the service segment is expected to manifest the highest CAGR of 21.0% from 2022 to 2031.
Based on location type, the outdoor segment held the largest share in 2021, accounting for nearly two-thirds of the market, and is expected to maintain its dominance in terms of revenue by 2031. However, the indoor segment is estimated to witness the largest CAGR of 21.0% during the forecast period.
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Based on enterprise size, the large enterprises segment dominated the market in 2021, accounting for around three-fifths of the global Wi-Fi 6 market, and is projected to maintain its leading position throughout the forecast period. However, the SMEs segment is estimated to showcase the highest CAGR of 20.9% during the forecast period.
Based on industry vertical, the IT and telecom segment held the lion’s share in terms of revenue in 2021, contributing to more than two-fifths of the market. However, the travel and hospitality segment is projected to register the highest CAGR of 23.9% during the forecast period.
Based on region, the market across North America accounted for the highest share in 2021, contributing to more than one-third of the total market share, and is projected to continue its leadership status by 2031. However, market across Asia-Pacific is projected to portray the fastest CAGR of 22.3% during the forecast period. The research also analyzes regions including Europe and LAMEA.
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Leading players of the global Wi-Fi 6 market analyzed in the research include Apple Inc., Aruba Networks, Asustek Computer Inc., AT&T, Broadcom, Cisco Systems, Fortinet Inc., Hewlett-Packard Company, Huawei Technologies, Intel Corporation, Juniper Networks, Linksys Holdings, Inc., Microsoft Corporation, NXP Semiconductors, Qualcomm Inc., Samsung Electronics Co. Ltd, and Sterlite Technologies Limited.
• The Covid-19 pandemic drastically affected businesses across the globe. However, the prolonged lockdown, especially in Asian and European countries positively impacted the adoption of Wi-Fi 6 devices.
• During the pandemic, the number of Wi-Fi 6-connected devices experienced a steep increase. The lockdown enforcement heightened the adoption of digital learning platforms for digital education, which fueled the market growth.
• Manufacturers collectively were forced to deploy several agile approaches for quality control.
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