Wi-Fi 7 Market Report 2024

This Wi-Fi 7 market report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

The Wi-Fi 7 market size has grown exponentially in recent years. It will grow from $1.01 billion in 2023 to $1.67 billion in 2024 at a compound annual growth rate (CAGR) of 64.9%. The historical growth can be attributed to several factors, including rising demand for energy-efficient solutions, increasing need for data-intensive applications, growing requirements of the digital age, higher internet penetration, and a surge in data traffic.

The Wi-Fi 7 market size is expected to see exponential growth in the next few years. It will grow to $12.45 billion in 2028 at a compound annual growth rate (CAGR) of 65.4%. The anticipated growth during the forecast period can be attributed to several factors, including rising demand for smart consumer electronics, increased use of connected devices, the expansion of smart cities, a growing population of smartphone users, and a rising number of Internet of Things (IoT) devices. Key trends expected during this period include the development of advanced Wi-Fi chipsets, ongoing technological advancements, progress in Industry 4 and smart technologies, integration with smart city initiatives, and connectivity with 5G networks.

The anticipated growth of the Wi-Fi 7 market is driven by the increasing adoption of the Internet of Things (IoT). IoT involves a network of interconnected physical devices that communicate and exchange data over the internet. The rise of IoT is attributed to the growing use of connected devices, advancements in sensor technology, and the expansion of high-speed internet infrastructure, leading to broader integration across various sectors. Wi-Fi 7 supports IoT by providing enhanced connectivity, higher data transfer speeds, and reduced latency, which facilitates efficient communication and operation among numerous interconnected IoT devices. For example, according to an August 2022 report by the Global System for Mobile Communications Association (GSMA), global IoT connections are projected to reach 23.3 billion by 2025, up from 15.1 billion in 2021. This growth in IoT adoption is expected to drive the expansion of the Wi-Fi 7 market.

Companies in the Wi-Fi 7 market are focusing on developing innovative technologies, such as Wi-Fi performance test solutions, to improve network speed, reliability, and efficiency. Wi-Fi performance test solutions assess the quality, speed, coverage, and reliability of Wi-Fi networks, ensuring optimal performance in various settings, from homes and offices to large enterprises and public spaces. For instance, in February 2024, Keysight Technologies Inc., a US-based provider of electronic design and test solutions, introduced the E7515W UXM Wireless Connectivity Test Platform for Wi-Fi 7. This platform offers comprehensive network emulation for testing devices using Wi-Fi 7 technology, featuring capabilities for high-speed data transfer, enhanced connectivity, and reduced latency. It supports advanced performance metrics, including modulation schemes and multi-link operation, and includes real-time analysis and debugging tools for precise evaluation and optimization of network performance.

In January 2024, Vantiva SA, a France-based provider of advanced network solutions, acquired the CommScope Home Networks business from CommScope Holding Company Inc. for an undisclosed amount. This acquisition aims to expand Vantiva's home networking portfolio and enhance its capabilities in delivering advanced Wi-Fi technologies, including Wi-Fi 7. CommScope Holding Company Inc., a US-based company, offers a range of networking solutions, including support for the latest Wi-Fi standards.

Major companies operating in the Wi-Fi 7 market are Huawei Technologies Co. Ltd., Intel Corporation, Cisco Systems Inc., Qualcomm Incorporated, Broadcom Inc., MediaTek Inc., ZTE Corporation, CommScope Holding Company Inc., Keysight Technologies Inc., Vantiva SA, Rohde and Schwarz GmbH and Co. KG., TP-Link Technologies Co. Ltd., MaxLinear Inc., Netgear Inc., Ruijie Networks Co. Ltd., DZS Inc., LitePoint Corporation, VVDN Technologies Pvt. Ltd., ADB Global, SDMC Technology Co. Ltd., Actiontec Electronics Inc., Senscomm Semiconductor Co. Ltd., H3C Technologies Co. Ltd.

North America was the largest region in the Wi-Fi 7 market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the Wi-Fi 7 market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the Wi-Fi 7 market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Wi-Fi 7 is the next-generation wireless networking standard designed to greatly enhance the speed, efficiency, and overall performance of Wi-Fi networks. Building on Wi-Fi 6 (802.11ax), it aims to address the increasing demands for faster data transfer, lower latency, and higher capacity, particularly in environments with numerous connected devices.

The main components of Wi-Fi 7 offerings include hardware, software, and services. Hardware encompasses the physical elements of a system, such as processors, memory, and peripherals. As the demand for faster and more reliable internet connections grows, there is an increasing need for advanced Wi-Fi 7 hardware. Wi-Fi 7 can be utilized in various locations, including indoor and outdoor environments, and supports numerous applications such as 8K video streaming, cloud-based gaming, augmented reality (AR) and virtual reality (VR), industrial Internet of Things (IoT) and Industry 4.0, smart cities, telemedicine, and more. The technology is relevant across various industry verticals, including education, healthcare and life sciences, manufacturing, media and entertainment, retail, transportation and logistics, travel and hospitality, and others.

The Wi-Fi 7 market research report is one of a series of new reports that provides Wi-Fi 7 market statistics, including Wi-Fi 7 industry global market size, regional shares, competitors with a Wi-Fi 7 market share, detailed Wi-Fi 7 market segments, market trends, and opportunities, and any further data you may need to thrive in the Wi-Fi 7 industry. This Wi-Fi 7 research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The Wi-Fi 7 market consist of revenues earned by entities by providing services such as high-speed data transfer, enhanced connectivity, improved network efficiency, and seamless roaming. The market value includes the value of related goods sold by the service provider or included within the service offering. The wi-fi 7 market also includes sales of routers, access points, network adapters, mesh systems, and smart home devices. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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