Wireless access point market size to hit $6,961.75 million by 2027
According to Technavio, the global wireless access point market size is estimated to grow by USD 6,961.75 million from 2022 to 2027. The market is estimated to grow at a CAGR of 6% during the forecast period. Moreover, the growth momentum will accelerate. North America will account for 32% of the growth of the global market during the forecast period. The report includes historic market data from 2017 to 2021. In 2017, the wireless access point market was valued at USD 15,926.70 million. The report also provides a comprehensive analysis of growth opportunities at regional levels, new product launches, the latest trends, and the post-pandemic recovery of the global market.
Wireless access point market – Customer landscape
The report includes the market’s adoption lifecycle, from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
The gateways or routers segment will account for a significant share of the market’s growth during the forecast period. The growth of this segment is attributed to factors such as the rise in demand for value-added services such as location-based services (LBS), navigation, and digital mapping. The demand for routers or gateways is increasing owing to the increasing IP traffic. The demand for enterprise routers is rising to improve workforce mobility, which will increase the adoption of web technologies and contribute to the growth of the global wireless access point market during the forecast period.
Based on geography, the global wireless access point market is segmented into North America, APAC, Europe, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global wireless access point market.
North America is estimated to account for 32% of the growth of the global market during the forecast period. This growth is attributed to factors such as the increase in the use of the Internet and smartphones. The demand for bring-your-own-device (BYOD) solutions is also increasing in the region. In addition, the rising demand for 5G network acceleration has enabled firms and telecom component providers to develop advanced telecom infrastructure and related components. These factors will fuel the growth of the wireless access point market in the region during the forecast period.
Key factor driving market growth
- The increase in the development of smart cities is driving the growth of the global wireless access point market.
- Governments of various countries are investing large amounts in the construction of smart cities.
- These cities require public Wi-Fi networks to provide services such as safety and security, access to education, waste and water management, traffic management, infrastructure management, and healthcare.
- As a result, there will be a high demand for wireless access points in smart cities.
- Hence, the development of smart cities is expected to fuel the growth of the market during the forecast period
Leading trends influencing the market
- The increase in 5G investments is a key trend in the global wireless access point market.
- The rise in these investments in 5G is creating a demand for 5G network infrastructure.
- Telecom service providers and network equipment providers will have to offer routers that will enable carriers to provide 5G services.
- Thus, an increase in investments in 5G will increase the adoption of devices such as wireless routers, which, in turn, will support the growth of the market during the forecast period.
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