The Wireless Access Point Market is being driven by Increase in development of smart cities
The Wireless Access Point Market is expected to grow at a CAGR of 6% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 8140.3 million. The global wireless access point market is experiencing significant growth, driven by the commercialization of 5G technology. With 5G's next-generation communication capabilities, offering download speeds of up to 10,000 Mbps, there has been a surge in investments worldwide. In 2021, 5G network infrastructure revenue reached USD19.1 billion, marking a 39% increase from the previous year. This trend is expected to continue, fueling the demand for wireless access points. Telecom service providers and network equipment manufacturers are responding to this demand by launching new 5G-enabled routers, enabling carriers to deliver 5G services to consumers and businesses.
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Which Factors Are Causing a Surge in Market Growth?
The market is segmented based on End-user (Enterprises, Consumers) Product (Gateways or routers, Dependent AP, Independent AP) Type (Indoor, Outdoor) Geography (North America, APAC, Europe, South America, Middle East and Africa).
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
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Key Features in Wireless Access Point Market Research Report
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The Wireless Access Point (WAP) market encompasses various sectors including homes, offices, public places, and educational institutions. Connected devices, such as gadgets and IoT devices, require wireless networking for seamless internet access. WAPs, which include transceivers, routers, and range extenders, provide wireless connectivity in residences, public areas, and offices. PoE+ technology ensures power efficiency. Wi-Fi technology, including Wi-Fi 6 and Wi-Fi 6E, enhances wireless network connectivity. Security threats necessitate technical expertise for implementation. 5G technology and digital initiatives in sectors like healthcare, education, and smart homes drive market growth.
The global communications equipment market, encompassing manufacturers of enterprise networking solutions such as LANs, WANs, routers, and switches, as well as communications infrastructure or telecom equipment, is expected to experience significant growth. Driven by the surge in data center development and expansion by hyperscalers, this market is poised for substantial growth. Additionally, the proliferation of 5G technology and the increasing number of connected devices among consumers will fuel demand for advanced business solutions, including cloud computing and cloud management. Key players in the competitive landscape, like Ace Matrix and Aerohive Networks, offer cloud-managed Wireless Access Points (WAPs), catering to the evolving needs of businesses in a rapidly digitizing world. According to industry associations and annual reports, these trends are set to shape the communications equipment market in the coming years.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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