According to the research report "Wi-Fi 7 Market by Offering (Hardware, Solutions, and Services), Location Type, Application (Immersive Technologies, IoT & Industry 4.0, Telemedicine), Vertical (Media & Entertainment, Education, Residential, Retail), and Region - Global Forecast to 2030" published by MarketsandMarkets, the Wi-Fi 7 market is estimated at US$1.0 billion in 2023 and is projected to reach US$24.2 billion by 2030, at a compound annual growth rate of 57.2 percent from 2023 to 2030.
Governments collaborate with private organizations, research institutions and industry associations to develop IoT ecosystems and drive innovation. These partnerships often involve joint projects, knowledge sharing and the establishment of wireless networking. Governments foster the development and adoption of Wi-Fi 7 solutions by actively engaging with the private sector across different industries.
By location type, indoor segment is estimated to account for the largest market share in 2023
Wi-Fi 7 is the next generation of Wi-Fi technology, and it is expected to offer significant improvements over previous generations in terms of speed, range and reliability. This makes it an ideal solution for indoor wireless networking in smart homes and buildings. In a smart home, Wi-Fi 7 can connect a wide range of devices, including smart TVs, security cameras, thermostats and light bulbs. This allows users to control their home devices from anywhere in the world and to automate tasks such as turning on the lights when they arrive home or adjusting the thermostat when they leave. Wi-Fi 7 can connect various devices for smart buildings, including sensors, actuators and control systems. This allows building operators to monitor and control the building's environment, such as the temperature, lighting and security.
Access points are expected to register the fastest growth rate during the forecast period
Access points (APs) are essential for connectivity and to ensure proficiency in deploying Wi-Fi 7. AP in Wi-Fi 7 are used to integrate various devices on the same network, facilitate communication and resource sharing and accessibility at ultra-high speeds between numerous devices, and maintain internet speeds despite immense traffic. Wi-Fi 7 provides better security, making these AP reliable to connect and suitable for Enterprise level networking. They can be used in office spaces, educational institutes, public spaces, hospitality and many other areas with heavy user traffic flow.
Europe is expected to have the second-highest growth rate
Numerous causes, such as the rising use of mobile devices, the rising demand for mobile data, and the creation of new wireless technologies, fueling the expansion of indoor and outdoor wireless services in Europe. The rise of indoor and outdoor wireless services is having a good effect on the European economy and the lives of Europeans, and the European wireless market is anticipated to continue growing in the coming years. The slow rate at which the necessary lower 6 GHz band for Wi-Fi and its successor, Wi-Fi 6E, has been made accessible in the region has put European regulators under growing strain.
The major vendors covered in the Wi-Fi 7 market Qualcomm (U.S.), Broadcom (U.S.), TP-Link (China), ZTE (China), Mediatek (Taiwan), Keysight Technologies (U.S.), MaxLinear (U.S.), Huawei (China), Commscope (U.S.), Vantiva (France), LitePoint (U.S.), Rohde & Schwarz (Germany), Intel (U.S.), HFCL (India), Netgear (U.S.), SDMC Technology (China), Senscomm Semiconductor (China), H3C (China), VVDN Technologies (India), Actiontec Electronics (U.S.), ADB Global (Switzerland), Ruijie Networks (China) and Edgewater Wireless Systems (Canada).