Wi-Fi Market Size, Share and Growth Analysis Report - Forecast Trends and Outlook (2025-2034)

The global Wi-Fi market reached around USD 36.42 Billion in 2024. The market is projected to grow at a CAGR of 12.40% between 2025 and 2034 to reach nearly USD 117.22 Billion by 2034.

Global Wi-Fi Market Growth

By the conclusion of 2023, the number of connected Internet of Things (IoT) devices reached 16.6 billion, reflecting a 15% increase compared to 2022. Projections indicate a further growth of 13%, resulting in an anticipated total of 18.8 billion devices by the end of 2024. By 2030, the number of connected IoT devices is expected to rise to approximately 40 billion.

In 2023, three-quarters of overall Wi-Fi-enabled devices shipped globally were equipped with the latest Wi-Fi 6 and Wi-Fi 6E technologies, which offer enhanced speed and reliability over the previous Wi-Fi 5 standard. The implementation of these technologies has significantly improved communication efficiency among IoT devices, thereby enhancing user experiences and overall system performance. Wi-Fi technology is at the forefront of IoT connectivity in various sectors, including smart homes, commercial buildings, and healthcare. Additionally, Wi-Fi 7 began shipping in 2024 and is projected to represent 7% of IoT-related Wi-Fi shipments.

According to the "2023 Ericsson Mobility Report," it is projected that by the end of 2029, global 5G subscriptions will reach 5.3 billion, representing approximately 58% of the total mobile subscriptions worldwide at that time. The growth of 5G networks is significantly contributing to the expansion of Wi-Fi, as it complements and enhances overall connectivity. With 5G facilitating faster speeds and reduced latency, it often operates alongside Wi-Fi to deliver a seamless and reliable internet experience.

Key Trends and Developments

Increasing demand for fast connectivity, expansion of smart homes, growing adoption of IoT devices, and the expansion of 5G networks are the major trends impacting the global Wi-Fi market expansion

January 2024

Lumen, a telecommunications company based in the United States, distinguished itself as the first in the industry to obtain a Wi-Fi CERTIFIED 7™ device through its proprietary solution. The company engineers its devices specifically for its Quantum Fiber residential and small business clientele, aiming to provide enhanced speeds and improved coverage compared to Wi-Fi 6/6E.

April 2024

HPE Aruba Networking, a California-based subsidiary of Hewlett Packard Enterprise specialising in security and networking, launched high-capacity Wi-Fi 7 access points aimed at enhancing enterprise security and tackling challenges associated with AI and IoT. The newly introduced Wi-Fi 7 access points offer up to 30% greater capacity for wireless traffic compared to competing products.

May 2024

SpaceX's Starlink internet service was inaugurated at three Indonesian health centres in Bali and Maluku in Indonesia, aimed at improving connectivity within the nation's health and education sectors.

September 2024

Intel, a prominent American multinational corporation and technology firm, introduced the Core Ultra 200V Series, marking its inaugural AI PC platform equipped with integrated Wi-Fi 7. This innovative Intel Core Ultra 200V series platform is set to drive a new era of Intel Evo Edition PCs, offering raw Wi-Fi 7 connectivity speeds of up to 5 Gbps, along with the Intel Connectivity Performance Suite (ICPS) for enhanced optimisation.

Increasing Demand for Connectivity

The rapid proliferation of internet-connected devices in recent years has transformed the way we live, work, and communicate. From smartphones and tablets to smart home appliances and wearable technology, the number of devices that rely on internet connectivity continues to grow at an unprecedented rate, surging the demand for Wi-Fi solutions.

Expansion of Smart Homes and IoT

The increasing popularity of smart homes and the Internet of things (IoT) necessitates the development of more advanced and dependable Wi-Fi networks. These technologies demand high-speed and stable connections to operate efficiently.

Growth in Mobile Device Usage

The widespread adoption of smartphones, tablets, and laptops has significantly transformed the way people interact with technology and access information. As these devices have become integral to daily life, the demand for reliable and high-speed Wi-Fi networks has surged.

Expansion of 5G Network

The deployment of 5G technology marks a significant advancement in mobile communication, offering faster data speeds, lower latency, and greater capacity compared to its predecessors. As 5G networks become more widespread, they often work in conjunction with existing Wi-Fi networks to enhance overall connectivity.

Global Wi-Fi Market Trends

The rapid expansion of Internet of Things (IoT) devices and intelligent technologies necessitates the development of sophisticated Wi-Fi networks. These devices depend on dependable, high-speed connections, which, in turn, increases the demand for the latest Wi-Fi standards, such as Wi-Fi 6 and Wi-Fi 7, to effectively handle the growing data traffic and the density of connected devices.

The increasing prevalence of data-heavy applications, including 4K streaming, online gaming, and virtual reality, further amplifies the need for high-performance Wi-Fi solutions. Such applications require enhanced speeds and expanded network capacity, thereby driving progress in Wi-Fi technology.

Global Wi-Fi Industry Segmentation

The report titled “Global Wi-Fi Market Report and Forecast 2025-2034” offers a detailed analysis of the market based on the following segments:

Market Breakup by Offering:

• Hardware
• Access Points
• WLAN Controllers
• Wireless Hotspot Gateways
• Others
• Solutions
• Services

Market Breakup by Application Type:

• Indoor
• Outdoor

Market Breakup by Density:

• Enterprise-Class Wi-Fi
• High-Density Wi-Fi

Market Breakup by Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Global Wi-Fi Market Share

Based on region, the market is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. Latin America is projected to grow at a CAGR of 12.8% during the forecast period of 2025-2034 due to the growing internet and fixed broadband penetration in the region, coupled with the increasing number of connected devices.

Leading Companies in the Global Wi-Fi Market

Major players are focusing on the adoption of advanced technologies to gain a competitive edge in the market.

Cisco Systems Inc.

Cisco Systems Inc., established in 1984, is based in California, United States. The company specialises in the development, manufacturing, and sales of networking hardware, software, telecommunications equipment, and various high-technology services and products.

Hewlett Packard Enterprise Company

Hewlett Packard Enterprise Company was founded in 1939 and is headquartered in Texas, United States. The company has positioned itself as a leader in the IT sector, focusing on providing innovative solutions that span the entire spectrum of technology, from edge computing to cloud services.

Commscope Holding Company Inc.

Commscope Holding Company Inc. was established in 1976 and is based in North Carolina, United States. The organisation specialises in the design, manufacturing, installation, and support of hardware infrastructure and software solutions that facilitate the interaction and growth of the digital society.

Juniper Networks, Inc.

Juniper Networks, Inc., established in 1996, is based in Sunnyvale, California. The organisation specialises in the development and marketing of networking solutions, which encompass routers, switches, network management software, network security products, and software-defined networking technologies.

Other major players in the market are Telefonaktiebolaget LM Ericsson, Huawei Technologies Co., Ltd., Fortinet Inc., Ubiquiti Inc., Motorola Solutions Inc., and Cloud4Wi, Inc., among others.