Gigabit Wi-Fi Access Point Market to Display Positive Growth at CAGR of 29.1% from 2017 to 2027.
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The Government of India is laying out expenditure on gigabit Wi-Fi access point (FTTH) to provide better and high speed internet, which is expected to be a good opportunity for vendors associated with the GWAP market to extract business, especially from emerging economies like India. Rapid technological progression, coupled with the implementation of better internet infrastructure is projected to drive the GWAP market in India in the coming years. The commercial/industrial end use sector is currently dominating the GWAP market, and GWAP vendors need to focus on this sector to expand their market share in India. Some of the companies contending with full strength in the market are Aerohive Networks Inc., Aruba Networks Inc., Cisco Systems Inc., D-Link Corporation, and Arris International Plc., among several others.
According to the report, the global gigabit Wi-Fi access point market is expected to rise at a stellar CAGR of 29.1% from 2017 to 2027. In 2017, the market was worth US$ 393.3 Mn and is expected to rise to a valuation of US$ 3,717.4 Mn by the end of 2027.
Growing Acceptance of Advanced Products to Increase Market Demand
With huge advancements in technology, North America focuses on adopting new technology such as gigabit Wi-Fi access point devices to enhance overall internet infrastructure to provide better internet speed in the region. In August 2016, Aruba Networks Inc. expanded its wireless competences with Penske Truck Leasing in North America. Penske selected Aruba Networks to install 5,000 outdoor and indoor access points for better connectivity. Henceforth, with continuous technology progression various companies are implementing gigabit Wi-Fi access point devices to deploy internet with fast speed.
Cutting-edge electronic devices such as smartphones and tablets are gradually gaining traction among consumers, comprising the young population. Compact devices such as smartphones offer great features to consumers, comprising mobility, fast operating time, and long battery life. Hence, the increasing market penetration of smartphones and tablets will result in higher deployment of gigabit Wi-Fi access point in North America.
Adoption of smart homes and applications in the past five years in Western Europe has increased significantly, owing to increasing advancement in home automation in the region. A growing adoption of smart homes is expected to drive demand for high bandwidth internet to operate all the smart gadgets. Owing to the aforementioned factors consumers are adopting better and advanced internet infrastructure with cutting-edge security offerings.
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Hardware Replacement Cost to act as a Roadblock in Market Revenue Growth
Old devices such as 802.11n wireless access point devices may or may not be able to support the new hardware standards of 802.11 AC. Henceforth, installing the 802.11 AC standard needs the whole infrastructural change to obtain the maximum benefits from new standard 802.11 AC. Installation of new hardware compatible with 802.11 AC is projected to incur high costs, which is expected to act as a restraint in the initial adoption of gigabit Wi-Fi access points.
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