Global Wi-Fi Market 2018-2022: To Grow to $15.60 Billion by 2022, at a CAGR of 21.2%
April 19, 2018 | PRNewswireEstimated reading time: 1 minute
The Wi-Fi market is expected to grow from $5.96 Billion in 2017 to $15.60 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 21.2% during the forecast period.
Several factors, such as the proliferation of mobile devices (smartphones, tablets, and laptops) leading to the rapid adoption of IoT and BYOD within enterprises, are driving the Wi-Fi market. The adoption of Wi-Fi solutions and services is high in verticals, such as education, retail, hospitality, government, and sports and leisure; and this is expected to boost the growth of the overall market.
The global Wi-Fi market is segmented by component (solutions [access points, WLAN controllers, wireless hotspot gateways and others such as routers, switches, repeaters, extenders, and antennas], services [network planning and design, support, installation, and survey and analysis]), by density (high-density Wi-Fi and enterprise-class Wi-Fi), by vertical (education, retail, hospitality, government, sports and leisure, healthcare, transportation and others including BFSI, oil and gas, and military and defense), and by region.
The education vertical is expected to hold the largest market size, whereas the sports and leisure vertical is projected to grow at the highest CAGR during the forecast period. Learning technology has assisted schools and universities in offering seamless and efficient eLearning solutions to their educators and students. These technologies demand continuous and efficient connectivity solutions, such as Wi-Fi. The sports and leisure vertical is expected to grow at a highest CAGR during the forecast period, due to the rising significance of Wi-Fi solutions and services in the high-density environments, such as stadiums, public parks, and museums.
The global Wi-Fi market has been segmented on the basis of regions, namely, North America, Europe, Asia Pacific(APAC), Middle East and Africa (MEA), and Latin America, to provide a region-specific analysis in the report. North America is expected to hold the largest market size and is projected to dominate the market during the forecast period.
With an increase in the implementation of BYOD and IoT among various verticals, such as education, retail, hospitality, and sports and leisure, the Wi-Fi market is set to grow at a significant rate in the developed economies, such as the US and Canada. Due to this, companies are willing to invest in the North American region. Leading vendors of Wi-Fi solution and services have a major presence in the North American region. Hence, the competition is intense among the major market players.
Suggested Items
Omdia: OLED Monitor Display shipments to surge by 123% YoY as Top Brands Embrace its Technology in 2024
05/09/2024 | PRNewswireOLED monitor display shipments significantly increased in 2023, following an upsurge of 415% year-over-year (YoY), according to Omdia's Monitor Display & OEM Market Tracker. This trend is set to continue with Omdia forecasting a 123% YoY increase in 2024, reaching 1.84 million units, driven by industry leaders Samsung Display and LG Display.
IDTechEx Report: Illuminating the Future of Lidar in Automotive
05/09/2024 | PRNewswireIn the rapidly evolving landscape of Advanced Driver-Assistance Systems (ADAS) and autonomous driving, sensor technologies have emerged as a pivotal force driving innovations in the automotive industry.
Sondrel Awarded New Video Processor ASIC Design and Supply Contract
05/09/2024 | SondrelSondrel, a leading provider of ultra-complex custom chips for leading global technology brands, is pleased to announce that it has won a major ASIC design and supply contract for a next generation, video processing chip.
IDC Forecasts Slower Growth for Global Telecommunications Services Market: Could AI Help Telcos to Maintain Healthy Margins?
05/08/2024 | IDCWorldwide spending on Telecom Services and Pay TV Services reached $1,509 billion in 2023, an increase of 2.1% over 2022, according to the International Data Corporation (IDC) Worldwide Semiannual Telecom Services Tracker.
Simbe Partners with Plexus to Scale Manufacturing and Meet Global Retail Demand
05/08/2024 | Globe NewswireSimbe, the leading provider of Store Intelligence™ solutions that increase retailer performance through unprecedented visibility and insights, today announced a partnership with Plexus Corp. to bring its best-in-class retail robotics-as-a-service to market quickly and at global scale.