Experts from the analytical company ABI Research predict that the global Wi-Fi IoT market will grow steadily in the coming years. If in 2021 the number of connections is estimated by analysts at about 2.3 billion, then by 2026 it will reach 6.7 billion.
Analysts note that the COVID-19 pandemic has highlighted the promise of remote work for the entire world and the importance of having a reliable office and home network in these conditions. Manufacturing businesses rely heavily on IoT for a variety of applications such as remote monitoring and workflow management, predictive maintenance, and asset tracking. In turn, Wi-Fi serves as a means of connecting IoT devices and sensors, supporting both broadband and narrowband IoT applications. Remote working has also spurred consumer demand for a connected home environment, sparking a rise in smart home applications supported by IoT devices connected over a Wi-Fi connection.
The growing demand for Wi-Fi enabled applications and the emergence of new standards such as Wi-Fi 6, Wi-Fi 6E and Wi-Fi 7 have created a need for new software and hardware components such as Wi-Fi chipsets and devices. supporting the latest standards.
The Chinese Wi-Fi IoT market will grow even faster. ABI Research experts predict that it will continue to grow in the coming years with an average annual growth rate of 29%. This means that the number of connections will grow from 252 million in 2021 to 916.6 million in 2026.
With a population of about 1.4 billion, China accounts for about 40% of the global Wi-Fi IoT market, and analysts associate the prospects of the Chinese Wi-Fi ecosystem with the spread of the Internet of Things.