Technological advancements have made life really easy for the modern generation. Invention of wireless technology, which is allows users to connect their wireless-enabled devices to computer network through radio waves has made great difference in the lives of billions. Rapid growth in wireless technology has made it an inseparable part of the homes, offices, government buildings, restaurants and mobile phones. All these many other places are now well-connected with Wi-Fi, allowing effortless access to internet at the word go. Global Wi-Fi market is significantly driven by these easy accessibility and quick installation features. As a result, the industry is spreading its wings across different parts of the world at a swift pace.
Segmentation in Wi-Fi Market
Global Wi-Fi market has significant categorization based on different aspects of the industry. These aspects include the types of products, location, services, industry verticals and demand across different geographic regions. Analysis of all these segments and figures from geographic demand provide vital information about the prevailing market trends, opportunities and challenges in the industry. Geographically, the industry is segmented into Asia Pacific, North America, Europe and rest of the world. All these segments are further segmented based on the countries and significantly advancing regions.
- Products: Controllers, relays, wireless hotspot gateways, access points, electronic devices, repeaters, etc.
- Location: Indoor, outdoor and transportation
- Verticals: Logistics, transportation, healthcare, public sector, education, healthcare and other crucial services
Driving Factors and Future Business in Wi-Fi Market
Growing use of wireless technology and increasing dependency on information technology are the strongest drivers for global Wi-Fi market. Increasing penetration of wireless technology across emerging markets is also a prominent reason for the growing demand for Wi-Fi products. Growth in smartphone market also plays a significant role in the growth of this industry. Rising demand for the applications like in-flight Wi-Fi, machine to machine (M2M) hotspots and Wi-Fi on the go is also a positive sign for the industry. As a result of all these factors, the Wi-Fi market is expected to perform well across the world.
As far as the future of the market is concerned, researchers are hopeful for the industry to make steady progress in terms of revenue, adoption, demand and business opportunities. Currently lead by developed regions like North America and Europe, the global Wi-Fi market is estimated to grow at a CAGR of over 15% for the next four to five years. From 2013, the industry will start creating better business opportunities across emerging markets like BRICS, Latin America, Middle East and Africa and Asia Pacific. This factor is anticipated to influence the revenue of the industry, taking it to $93.23 billion by 2018.