The Global Wi-Fi 6 Technology Market, By Component (Solution (Controller/Switch, Access points, Gateways/routers and Others) and Services (Network Planning and Design, Installation, and Support& Maintenance)), By End User (Enterprise and Consumer), By Industry Vertical (Education, Healthcare, Retail, Transportation, Government, Manufacturing, Hospitality, Sports and Leisure, and Others), and by Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Global Forecast to 2027, is expected to exhibit a CAGR of 26.5% during the forecast period (2020-2027), as highlighted in a report published by Coherent Market Insights.
Wi-Fi 6 technology, also known as 802.11ax Wi-Fi, is a next generation of Wi-Fi technology, which is developed to improve the current available 802.11ac Wi-Fi standard. Wi-Fi 6 is specially designed for crowded places such as public venues, stadiums, airports, and others. Wi-Fi 6 technology is segmented into two types, solution and services. Increasing demand for hardware for Wi-Fi 6 technology is expected to drive growth of the solutions segment.
The global Wi-Fi 6 technology market is expected to exhibit a CAGR of 26.5% during the forecast period (2020-2027).
The increasing demand for Wi-Fi 6 in stadiums and airports is expected to drive the global Wi-Fi 6 technology market growth
Large venues such as stadium faces unique challenges during sports events, which provides internet access to huge crowd. The crowd at such places are more tightly gathered compared to other regularly crowded places such as shopping mall, office complex, and others. Stadium visitors want continuous Wi-Fi connectivity to use social media platforms to share posts about ongoing match and event. Thus, in recent years, the demand for stadium Wi-Fi usage witnessed exponential growth. For instance, in July 2019, according to Extreme Networks, a U.S.-based network equipment company, data usage at super bowl game increased seven times from 2014 to 2019 and it is expected to increase in the near future. To tackle this problem, many stadiums are adopting WIFI 6 technology, which enables them to provide better coverage and higher connectivity to the crowd. For instance, in November 2019, Oklahoma Memorial Stadium deployed Wi-Fi 6 network, with only 6 access points across the stadium. In the next game, the stadium witnessed significant user and connectivity growth. Another such example is of Ohio Stadium, which implemented Wi-Fi 6 technology in September 2019, and during Ohio State vs. Michigan State football game on October 5, 2019, the crowed used 25.6 terabytes data on a single day. Thus, the increasing demand for Wi-Fi 6 technology in stadiums is expected to drive the global Wi-Fi 6 technology market growth during the forecast period.
The use of Wi-Fi 6 technology in the healthcare sector is expected to create lucrative growth opportunities for players operating in the Wi-Fi 6 technology market
The healthcare industry is shifting towards the adoption of internet of things (IoT) technology, which will increase demand for internet connectivity on a daily basis. For instance, according to Coherent Market Insights’ analysis, in 2018, China had more than 50% of its hospitals (with a capacity of 500 beds) that had already implemented electronic patient records and this number is expected to reach 1.5 billion number of patients by 2020 equipped with electronic patient records. Furthermore, Wi-Fi enabled devices can be used to remotely access patient records, imaging results, and other important files. Furthermore, real-time patient monitoring by nurses and doctors is possible. The use of Wi-Fi 6 enabled devices increases the reliability of these devices by reducing the downtime. Moreover, Wi-Fi 6 uses Target wake time (TWT) technology, which increases devices' sleep time and increases battery life, which is particularly useful for battery-powered devices such as infusion pumps, respiratory equipment, and sensors. Thus, the use of Wi-Fi 6 technology in the healthcare sector is expected to create lucrative growth opportunities for players operating in the Wi-Fi 6 technology market.
Low benefit–cost ratio of Wi-Fi 6 technology is expected to hamper growth of the global Wi-Fi 6 technology market during the forecast period.
Wi-Fi 6 technology provides many benefits such as more connectivity reliable speed and others. However, Wi-Fi 6 has a high implementation cost than current operating technology Wi-Fi 5. For instance, according to Coherent Market Insights’ analysis, Wi-Fi 6 routers cost around four times higher compared to Wi-Fi 5 technology-enabled router. Theoretically, Wi-Fi 6 technology can provide a speed of 9.6 Gbps, however, the usual download speed in the U.S. is 72 Mbps only, which is less than 1 percent of the theoretical maximum speed. For download speed of 72 Mbps, WI-Fi 6 technology is not providing any benefits compared to the Wi-Fi 5 technology. Thus, low benefit-cost ratio of Wi-Fi 6 technology is expected to hamper growth of the global Wi-Fi 6 technology market during the forecast period
Global Wi-Fi 6 Technology Market - Impact of Coronavirus (Covid-19) Pandemic
Covid-19 pandemic has forced many people to stay at home. Countries such as Italy, Spain, China, and India imposed strict lockdown measures to stop the spread of COVID-19. For instance, India imposed its first lockdown on March 25, 2020, which is now extended till June 30, 2020, until further notice due to which domestic or home internet usage has witnessed exponential growth. For instance, according to Department of Telecommunications, a government body of India, internet usage in India increased by 13% during the period of lockdown. Furthermore, the demand for internet has mainly increased in the urban areas. Increasing internet usage will drive the demand for advanced wireless technology such as Wi-Fi 6.
Key players operating in the global Wi-Fi 6 technology market include ADTRAN, Inc., Aerohive Networks, Aruba Networks (Hewlett Packard Enterprise), Cisco Systems, Inc. (including Cisco Meraki), Extreme Networks Inc., Fortinet, Huawei Technologies Co., Ltd., Mojo Networks, Inc., Riverbed Technology, Inc., Cambium Networks, Ltd., Ruckus Networks, TP-Link Technologies Co., Ltd., and Ubiquiti Networks.