Wi-Fi Market size will undeniably be one of the fastest-growing verticals within the sustainable and smart technologies space during 2021 - 2027. Wi-Fi adoption is growing exponentially with the rise in smart devices such as smartphones, laptops, tablets, and connected devices. The bring your own device (BYOD) trend has gained significant momentum in recent years. These factors along with the growing acceptance of mobile-connected smart objects and IoT will offer lucrative prospects for market growth.
Over the past decade, wi-fi technology has evolved significantly to meet the needs of consumers and businesses. Today, wi-fi is not only used in homes and offices, but also found in public places such as shopping complexes, public transportation, transport hubs, and other areas. The need for access to seamless and high-speed internet access will fuel wi-fi market trends.
Wi-fi is enabling organizations to connect employees, machines, and customers seamlessly to enable hassle-free data access, automation, and fully digital service delivery. A widespread shift to work from home policies due to the COVID-19 pandemic has led to a massive surge in wi-fi adoption globally. Amid lockdown restrictions and closure of educational institutions, it is being widely used to support online classes for students. The demand for a seamless video streaming experience for entertainment, business, and educational purposes will further fuel wi-fi adoption between 2021 and 2027.
The transportation wi-fi market is slated to witness substantial growth through 2027. Being connected to the internet at all times is increasingly important among consumers. Public transit companies are making efforts to offer commuters free or paid wi-fi access. Government funding to enable wi-fi access on public transport and school buses is further fueling the transportation wi-fi trend.
In May 2021, the U.S. Federal Communication Commission (FCC) had announced the Emergency Connectivity Fund (ECF) Program which school districts can utilize to purchase school bus wi-fi. Reportedly, the FCC will provide complete reimbursement for all components of the school bus wi-fi including data, hardware, installation, and shipping charges.
Considering the geographical outlook, the Europe wi-fi market is expected to witness noticeable growth during 2021-2027. The regional demand can be attributed to ongoing efforts by the European Union to expand wi-fi 6 deployment in the region. In July 2021, the European Union reportedly opened up 480 MHz spectrum in the 6 GHz band for the implementation of wireless network systems. The move is part of the Union’s goals to boost Europe’s digital connectivity by deploying wi-fi 6e technologies. The Wi-Fi Alliance said it will continue working with the European Union on developing spectrum access and the regulatory framework required to support the wi-fi 6 ecosystem in Europe.
Aruba Networks (Hewlett Packard Enterprise), Ericsson, Alcatel-Lucent (China Huaxin Post and Telecom Technologies Co., Limited), Cisco Systems, Juniper Networks, Ubiquiti Networks, Inc., Edgewater Wireless Systems, CA World Wi-Fi, Airspan Networks, Aerohive (Extreme Networks), Aptilo Networks, Ruckus Wireless, Inc., and Netgear, Inc. are among the top wi-fi market players.
In May 2021, Aruba Networks had unveiled the industry’s first enterprise-grade wi-fi 6e access point designed to support IoT, cloud computing, UC, AR/VR, telepresence, and many other applications. The new access point is designed for wi-fi 6e devices operating in the 6 GHz band, which the U.S. FCC had opened for unlicensed use in April 2020.
Wi-fi adoption has surged exponentially across the globe since the outbreak of the COVID-19 pandemic, with nationwide lockdown restriction in place and the rise in work from home and online learning. Majority of businesses have been switching to online platforms to sustain business operations during the unprecedented COVID situation. Meanwhile, digital learning has played a crucial role in bridging the gap, enabling teachers and students to connect daily. In the healthcare sector, the use of telemedicine for remote diagnosis, consultation, online testing, and real-time monitoring has increased rapidly, indicating massive opportunities for the wi-fi market through 2027.