The report projects that the global market for gigabit Wi-Fi access points will grow at a remarkable CAGR of 29.1% between 2017 and 2027. The market had a value of US$ 393.3 million in 2017 and is projected to increase to US$ 3,717.4 million by the end of 2027.
On the market for gigabit Wi-Fi access points, Future Market Insights (FMI) has just released a brand-new report. “Gigabit Wi-Fi Access Point Market: Global Industry Analysis 2012-2016 and Opportunity Assessment 2017-2027” is the title of the study. India is one of the potential markets that vendors around the world are focusing on because it is predicted to offer lucrative opportunities in the coming years. Leading companies like Samsung must concentrate on the India market in order to offer creative GWAP solutions and increase their market share in emerging nations. This is because India offers significant GWAP growth opportunities. India has a sizable market potential, which is luring GWAP market vendors to export their goods there.
In order to provide better and faster internet, the Indian government is planning to spend money on gigabit Wi-Fi access points (FTTH). This is anticipated to be a good opportunity for GWAP market vendors to gain business, particularly from emerging economies like India. In the upcoming years, it is anticipated that the GWAP market in India will be driven by the combination of quick technological development and the deployment of better internet infrastructure. GWAP vendors should concentrate on this sector to increase their market share in India because it currently dominates the commercial/industrial end use sector of the GWAP market. Aerohive Networks Inc., Aruba Networks Inc., Cisco Systems Inc., D-Link Corporation, and Arris International Plc. are a few of the businesses that are actively vying for market share.
Growing Acceptance of Advanced Products to Increase Market Demand
With significant technological advancements, North America is concentrating on implementing new technology, such as gigabit Wi-Fi access point devices, to improve the region’s overall internet infrastructure and provide faster internet speeds. Penske Truck Leasing helped Aruba Networks Inc. in North America broaden its wireless capabilities in August 2016. For better connectivity, Penske chose Aruba Networks to install 5,000 outdoor and indoor access points. As a result of ongoing technological advancement, many businesses are now using gigabit Wi-Fi access point devices to roll out high-speed internet.
Modern electronic gadgets, particularly smartphones and tablets, are slowly gaining popularity with consumers, particularly young people. Customers can enjoy great features like mobility, quick operation, and long battery life from small devices like smartphones. Therefore, there will be a greater deployment of gigabit Wi-Fi access points in North America as a result of the growing market penetration of smartphones and tablets.
Due to rapid advancements in home automation in Western Europe over the past five years, the adoption of smart homes and applications has increased significantly. The demand for high bandwidth internet to run all the smart devices is anticipated to increase as smart homes are increasingly adopted. Consumers are embracing better and more sophisticated internet infrastructure with cutting-edge security options as a result of the aforementioned factors.
Hardware Replacement Cost to act as a Roadblock in Market Revenue Growth
The ability to support the new hardware standards of 802.11 AC may or may not be available for outdated devices like 802.11n wireless access point devices. To reap the greatest benefits from the new 802.11 AC standard, installation requires a complete infrastructural change. Costly installation of new 802.11 AC-compatible hardware is anticipated, which is expected to impede the initial uptake of gigabit Wi-Fi access points.