Press release
Wireless Access Points Market 2024: Global Trends, Innovations, and Growth
Wireless Access Points Market 2024
According to The Business Research Company's, The wireless access points market size has grown strongly in recent years. It will grow from $4.77 billion in 2023 to $5.23 billion in 2024 at a compound annual growth rate (CAGR) of 9.6%. The growth in the historic period can be attributed to raised demand for 5g network acceleration, the growing adoption of internet of things (iot) devices, growing adoption of wireless aps, rise of smart homes and connected devices.
The wireless access points market size is expected to see strong growth in the next few years. It will grow to $7.57 billion in 2028 at a compound annual growth rate (CAGR) of 9.7%. The growth in the forecast period can be attributed to rising advancement of smart cities, the rising demand for seamless, fast wireless connectivity, increasing demand for high-speed data access. Major trends in the forecast period include biotechnology revolution, technological advancements, partnerships, and investments.
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Market Drivers and Trends:
The growing need for wireless internet access in residences and commercial buildings is expected to propel the growth of the wireless access point market going forward. Wireless internet access in residences and commercial buildings refers to wireless local area networks (WLANs), which are wireless networks that use technology such as Wi-Fi to connect devices within a limited area, such as homes, offices, or campuses. The growing need for wireless internet access in residences and commercial buildings is driven by the increasing adoption of smart devices, IoT and smart cities initiatives, increased bandwidth requirements, growing demand for BYOD and remote work, and advancements in 5G and Wi-Fi 6. Wireless access points support seamless roaming, allowing users to move around within the coverage area without experiencing interruptions or dropped connections. For instance, in February 2024, according to a report published by the Canadian Radio-television and Telecommunications Commission, a Canada-based government organization, in 2022, the number of residential wireless internet access subscribers was 93.9%, which is an increase of 0.4% compared to the previous year. Therefore, the growing need for wireless internet access in residences and commercial buildings is driving the growth of the wireless access point market.
Major companies operating in the wireless access point market are focusing on developing advanced access points using high-performance WIFI 6 technology to gain a competitive advantage. High-performance WIFI 6 technology enhances network efficiency, capacity, coverage, and performance in high-density environments such as offices, malls, and residential areas. For instance, in October 2022, Cisco Systems Inc., a US-based digital communications technology corporation, launched Wi-Fi 6 Access Point for small and medium businesses. This new technology aims to improve efficiency by reducing the battery burden on connected devices, enhancing efficiency and performance for SMBs. This also offers a flexible and reliable network infrastructure, supporting both the 2.4 GHz and 5 GHz bands, and allows for the deployment of multiple access points managed as a single entity, ensuring seamless coverage throughout the workplace without the need for separate controller software.
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Major Key Players of the Market:
Huawei Technologies Co. Ltd., Cisco Systems Inc., Motorola Solutions Inc., Juniper Networks Inc., Fortinet Federal Inc., Ubiquiti Inc., HPE Aruba Networking, Alcatel-Lucent Enterprise International SAS, Extreme Networks Inc., Adtran Holdings Inc., TP-Link Technologies Co. Ltd., Sierra Wireless Inc., D-Link Corporation, SonicWall Inc., Cradlepoint Inc., Zyxel Communications Corp., Cambium Networks Corporation, Ruckus Networks, Grandstream Networks Inc., Airspan Networks Holdings Inc., Aerohive Networks Inc., WatchGuard Technologies Inc., LANCOM Systems GmbH, EnGenius Technologies Inc., Mist Systems Inc., Open Mesh Inc
Wireless Access Points Market 2024 Key Insights:
• The wireless access points market size is expected to see strong growth in the next few years. It will grow to $7.57 billion in 2028 at a compound annual growth rate (CAGR) of 9.7%.
• Driving Forces Behind The Wireless Access Point Market Growth In Residences And Commercial Buildings
• Advancements In Wireless Access Point Technology A Focus On Market Leaders
• Asia-Pacific was the largest region in the wireless access points market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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