Wi-Fi IoT Market

According to a research report "Wi-Fi IoT Market by Component (Hardware, Solutions, and Services), Application (Industrial IoT, Commercial IoT, Smart Home), Organization Size, Vertical (Education, Retail, Enterprise, Healthcare & Life Sciences) & Region - Global Forecast to 2027" published by MarketsandMarkets, the global Wi-Fi IoT system market size is projected to grow from USD XX.XX billion in 2022 to USD XX.XX billion by 2027, at a compound annual growth rate (CAGR) of XX.X% during the forecast period. The wide range of opportunities in smart home, manufacturing, and industrial IoT is driving the growth of the Wi-Fi IoT market. IoT product architects consider Wi-Fi as a smart investment due to the reliability and connectivity support offered by the solutions.

The hardware segment is estimated to lead the Wi-Fi IoT market in 2022.

The Wi-Fi IoT hardware segment comprises access points, sensors and controls, wireless hotspot gateways, system-on-a-chip, and other hardware. The integration of Wi-Fi with IoT enables users to automate their smart homes and provides connectivity over wide range of connected household objects, monitors supply chains and other critical functions in real time in industrial facilities.

The smart home Wi-Fi IoT segment is projected to grow at the fastest rate during the forecast period.

The application segment of Wi-Fi IoT comprises of industrial IoT, commercial IoT, smart home, and other applications. Wi-Fi integrated with IoT in residential environments provides a foundation to power Wi-Fi devices and offers backhaul for battery operated devices using other low power technologies. This leads to the higher adoption of Wi-Fi IoT in smart home devices.

SMEs are pegged to account for a higher CAGR during the forecast period.

Hyper-aware facilities offered by Wi-Fi IoT solutions ensures security and seamless connectivity for SMEs leading to the higher adoption of Wi-Fi IoT in SMEs.

Retail is likely to emerge as the largest market for Wi-Fi IoT during the forecast period.

The retail vertical is expected to hold a significant market share in the Wi-Fi IoT market, due to the various benefits provided by MSPs. Wi-Fi allows direct connection to the internet providing robust connectivity for IoT applications. The IoT enabled warehouse robots and wireless shipment of tracking devices are some of the factors leading to the adoption of Wi-Fi IoT in retail.

Asia Pacific segment is projected to grow with the fastest growth rate during the forecast period.

Asia Pacific is the fastest-growing economic region and the world’s largest continental economy by GDP Nominal and PPP. The growth in this region is primarily driven by the increasing smart city projects in the leading countries such as China, India, and Japan. The initiatives taken by government in these regions to bolster cybersecurity is driving the growth of Wi-Fi IoT in the region.

Market Players

The major vendors covered in the Wi-Fi IoT market include Cisco (US), Nordic Semiconductor (Norway), ON Semiconductor (US), Synaptics (US), Infineon Technologies (Germany), Huawei (China), Extreme Networks (US), NXP Semiconductors (Netherlands), Advantech (Taiwan), Aruba (US), Silicon Labs (US), STMicroelectronics (Switzerland), Qorvo (US), Alcatel-Lucent Enterprise (France), Enea (Sweden), Telit (US), Argus Systems (India), Laird Connectivity (US), SparkLAN (Taiwan), Wireless IoT Solutions GmbH (Germany), and Morse Micro (Australia).

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