According to the report, the global gigabit Wi-Fi access point market is expected to rise at a stellar CAGR of 32.3% from 2022 to 2027. In 2022, the market was worth US$ 3.61 Billion and is expected to rise to a valuation of US$ 14.65 Billion by the end of 2027.
Future Market Insights (FMI) has published a new report on the gigabit Wi-Fi access point market. The report has been titled “Gigabit Wi-Fi Access Point Market: Global Industry Analysis 2016-2021 and Opportunity Assessment 2022-2027.” Vendors across the globe are eyeing India as it is one of the potential regions to capitalise on and is expected to provide lucrative prospects in the coming years.
Seeking huge GWAP growth opportunities in India, leading players such as SAMSUNG need to focus on the India market to offer innovative GWAP solutions for strengthening their presence in emerging countries. India has a huge potential, which is attracting vendors associated with the GWAP market to export their products to India.
Drivers and Opportunities:
Several factors are propelling the Gigabit Wi-Fi Access Point Market forward. The rapid adoption of smart devices, coupled with the increasing reliance on cloud-based services, is fueling the demand for high-speed and reliable Wi-Fi connectivity. Additionally, the surge in remote work and e-learning due to the global pandemic has further underscored the need for robust Wi-Fi infrastructure. These trends present substantial growth opportunities for market players.
Competitive Landscape – Regional Trends:
The competitive landscape in the Gigabit Wi-Fi Access Point Market is witnessing intense rivalry among key players. To gain a competitive edge, companies are focusing on technological advancements and product innovations. The market is segmented regionally, with North America dominating due to widespread adoption of gigabit Wi-Fi access points. Asia-Pacific is emerging as a lucrative market, driven by rapid urbanization and increasing digitalization.
Restraints:
Despite the promising growth prospects, the Gigabit Wi-Fi Access Point Market faces some limitations. Challenges related to network security and data privacy remain paramount concerns, necessitating continuous investment in cybersecurity measures. Additionally, cost constraints and interoperability issues may impede market growth in certain regions.
Region-wise Insights – Category-wise Insights:
Regionally, North America is expected to maintain its dominance throughout the forecast period, driven by the presence of major market players and robust infrastructure. In contrast, the Asia-Pacific region is anticipated to witness the highest growth rate, owing to burgeoning internet penetration and digital transformation initiatives.
In terms of categories, enterprise deployment of gigabit Wi-Fi access points is anticipated to lead the market, driven by the demand for seamless connectivity in corporate environments. Residential usage is also on the rise, as consumers seek high-speed internet for streaming, gaming, and home automation.
