The global Wi-Fi market size is projected to grow from USD 9.4 billion in 2020 to USD 25.2 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 17.8 % during the forecast period. The major growth drivers for the market include increasing need for robust network connectivity and adoption of Wi-Fi solutions in various verticals such as education, healthcare and life sciences, and retail and eCommerce, BFSI, and IT and telecom.
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The major growth drivers for the market include increasing need for robust network connectivity and adoption of Wi-Fi solutions in various verticals such as education, healthcare and life sciences, and retail and eCommerce, BFSI, and IT and telecom.
By component, hardware segment to hold the largest market size during the forecast period
The hardware segment is expected to grow at the highest CAGR during the forecast period. The Wi-Fi hardware segment comprises access points, WLAN controllers, wireless hotspot gateways, and others. The others segment includes repeaters and relay. The integration of Wi-Fi with other devices has led to improved connectivity. Several verticals such as healthcare and life sciences and BFSI are highly dependent on wireless connectivity, and any kind of loss of connection may hamper their daily business operations.
Key and innovative vendors in the Wi-Fi market include Cisco (US), Ericsson (Sweden), Extreme Networks (US), Huawei (China), Juniper Networks (US), Panasonic (Japan), Fortinet (US), NETGEAR (US), Aruba (US), Alcatel-Lucent Enterprise (France), D-Link (Taiwan), Broadcom (US), Airtel (India), Orange Business Services (France), Comcast Business (US), Vodafone (UK), Telstra (Australia), Fujitsu (Japan), AT&T (US), Lever Technology Group (UK), Redway Networks (Buckinghamshire), Ubiquiti Networks (US), iPass (US), Superloop (Australia), Cambium Networks (US), CASA Systems (US), Fon (Spain).
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These players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches and product enhancements, and acquisitions to expand their presence in the Wi-Fi market. Partnerships, agreements and collaborations, and new product launches have been the most adopted strategies by the major players from 2018 to 2021 to innovate their offerings and broaden their customer base.
Cisco offers products and solutions in the areas of routing and switching, as well as advanced technologies, such as home networking, IP telephony, optical networking, security, storage area networking, and wireless technologies. Over the years, the company has enhanced its position from being a provider of individual products and services to a provider of architectural solutions based on networking infrastructure. The company offers its products and services to large enterprises, commercial businesses, service providers, and consumers. It has a presence in more than 72 countries, and its products and technologies are grouped into the following categories: collaboration, switching, service provider video, Next-Generation Network (NGN) routing, data center, security, wireless, and other products.Cisco also has a presence in various regions, such as the Americas, Europe, the MEA, and APAC.
Ericsson offers communication and network equipment, software, and services for network and business operations. It operates through four business segments: networks, digital services, managed services, and emerging businesses, and others. The networks segment provides products and solutions for mobile and fixed communication; the digital services segment includes software, services, and hardware for Business Support Systems (BSS), Operational Support Systems (OSS), cloud communication, cloud core, and cloud infrastructure; the managed services segment provides networks, IT managed services, network designs, optimization, and application development and maintenance to operators; the emerging business segment includes IoT and the media business. Ericsson provides its solutions and services for segments, including utilities, transport, public safety, commercial and industrial real estate, and mobile operators. The company has customers in 180 countries across the regions of North America, Europe, MEA, Latin America, and APAC.
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