According to a report by MarketsandMarkets, the Wi-Fi market is expected to grow to USD 15.60 Billion by 2022, rising from USD 5.96 Billion in 2017. The report, Wi-Fi Market by Component (Solutions (Access Points and WLAN Controllers) and Services (Network Planning and Design)), Density (High-Density Wi-Fi and Enterprise-Class Wi-Fi), Vertical, and Region - Global Forecast to 2022, expects the market to grow at a Compound Annual Growth Rate (CAGR) of 21.2% during the forecast period. The proliferation of mobile devices and rapidly growing adoption of BYOD and IoT within enterprises are some of the major factors expected to drive the growth of the Wi-Fi market.
Network planning and Design Segment Expected to Hold Largest Market Size
Network planning and design services are executed to maximize the ROI for the Wi-Fi market. The network planning and design service is an important part of the Wi-Fi value chain/ecosystem. The operators or service providers should go through proper analysis of their requirements before deploying any wireless network; moreover, there are various decisions to be made by service providers before finalizing the deployment.
Sports and Leisure Vertical Expected to Grow at Highest CAGR
The digitalization of businesses has revolutionized the Wi-Fi market space for various verticals. The sports and leisure vertical encompasses the public spaces visited by people to relax or spend leisure time. It includes various facilities, such as stadiums, parks, museums, zoos, movie theaters, casinos, and theme parks. Businesses in this vertical often have to deal with large crowds. In the competitive space, where enterprises follow the sophisticated strategy of maximizing revenue-generating opportunities, Wi-Fi services offer a huge advantage.
North America the Largest Region in Market
North America consists of developed economies, the US and Canada. In this region, Wi-Fi solutions and services are gaining traction within the businesses. The region’s strong financial position also enables it to invest heavily in the Wi-Fi technology. These advantages have provided North American organizations a competitive edge in the market. Moreover, the region has the presence of several major Wi-Fi vendors. Therefore, there is strong competition among the players. The number of enterprises adopting Wi-Fi solutions and services is quite high in North America as compared to the other regions.
The major vendors offering Wi-Fi solutions and services across the globe include Cisco (US), Aruba (US), Ruckus Wireless (US), Juniper Networks (US), Ericsson (Sweden), Panasonic (Japan), Huawei (China), Alcatel-Lucent Enterprise (France), Netgear (US), Aerohive Networks (US), and Riverbed Technology (US). These vendors have adopted various organic and inorganic growth strategies, such as new product launches, partnerships, and collaborations, to enhance their position in the Wi-Fi market.
