Chicago, Sept. 22, 2023 (GLOBE NEWSWIRE) — The Wi-Fi 7 Market is estimated at USD 1.0 billion in 2023 and is projected to reach USD 24.2 billion by 2030, at a CAGR of 57.2% from 2023 to 2030, according to a new report by MarketsandMarkets™.
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Wi-Fi 7 Market Dynamics:
Drivers:
- Rising adoption of IoT
- Mitigation of network traffic and interference offered by Wi-Fi 7
- Increasing focus on QoE for end users
- Pandemic-driven lifestyle changes led to growing demand for data-intensive, low-latency applications and use cases
Restraints:
- High cost of installation
- Stringent government data regulations and guidelines
Opportunities:
- Deployment of OpenRoaming and Passpoint technology gathering pace
- Wi-Fi 7 to offer key areas of investment for new connectivity technologies
- Growing adoption of 5G technology
List of Key Players in Wi-Fi 7 Market:
- Qualcomm (US)
- Broadcom (US)
- TP-Link (China)
- ZTE (China)
- Mediatek (Taiwan)
- Keysight Technologies (US)
- MaxLinear (US)
- Huawei (China)
- Commscope (US)
- Vantiva (France)
The increasing focus on the QoE for end users and growing demand for data-intensive, low-latency applications and use cases due to pandemic-driven lifestyle changes will drive the market’s growth. These technologies provide a reliable and cost-effective connectivity solution for implementing IoT solutions at scale.
Based on applications, telemedicine is expected to register the fastest growth rate during the forecast period.
Wi-Fi 7 is useful in telemedicine because it allows transmitting high-quality video, audio, and large medical images. This makes it possible for healthcare providers to provide care to patients in remote areas who cannot travel to a doctor’s office. Wi-Fi 7 can conduct telehealth consultations between patients and healthcare providers. This allows patients to receive medical care without traveling to a doctor’s office.
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By services, professional services to hold the largest market size during the forecast period
Professional services encompass a range of specialized consulting, implementation, and support offerings delivered by industry experts. These services are tailored to cater to the unique requirements of clients or projects. Their primary objective is to assist organizations in developing, implementing, and supporting Wi-Fi 7-based products, solutions, and services. Professional services include consulting, integration, and deployment. Wi-Fi 7 consulting is a service that helps businesses and organizations to design, deploy, and manage Wi-Fi 7 networks. Wi-Fi 7 consulting can help businesses and organizations utilize these improvements by designing and deploying optimized networks for their specific needs. Wi-Fi 7 consulting services include Site surveys, Design, and Management. Wi-Fi 7 consulting companies can conduct site surveys and recommend the best way to deploy a Wi-Fi 7 network in a particular location. Wi-Fi 7 consulting companies can help businesses and organizations design Wi-Fi 7 networks optimized for their needs. Management, Wi-Fi 7 consulting companies can help businesses and organizations to manage Wi-Fi 7 networks.
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Based on region North America is expected to hold the largest market size during the forecast period.
The North American Wi-Fi 7 market is anticipated to expand significantly in the upcoming years. The industry is being driven by the rising popularity of smart gadgets and the rising need for high-speed internet connectivity. Wi-Fi technology has a sizable market in North America. There is a considerable demand for high-speed internet connectivity in homes and businesses due to the region’s sizeable and growing population of smartphone users. The rising popularity of smart devices is also driving the demand for Wi-Fi technology. A dependable and fast internet connection is necessary for smart gadgets like smart TVs, speakers, and thermostats.
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