The global wireless mesh network market features a highly competitive vendor landscape and is companies are focused on finding ways to distinguish their services and products to gain a competitive edge in the market, observes Transparency Market Research in a recent report. Companies in the market are resorting to strategic collaborations through mergers and acquisitions to extend their product and services portfolios. In the next few years, the market will see a vast rise in strategic collaborations of companies with niche companies and other leading players. As a result, the market will witness a rise in development activities and innovative solutions and services will hit the market at a continued pace.
The global market for wireless mesh networks is expected to exhibit a 9.7% CAGR over the period between 2016 and 2024, rising from a valuation of US$3.9 bn in 2015 to US$8.9 bn by 2024. In terms of volume, the demand for wireless mesh networks is expected to rise to 37.2 mn units by 2024.
North America to Hold Prominent Position in Global Market
Of the key varieties of radio frequency bands used in wireless mesh networks, the 2.4 GHz band is the dominant contributor of revenue to the global market as it is the most commonly used frequency band for operating Wi-Fi applications across the globe. It is expected that the 2.4 GHz segment will retain dominance over the report’s forecast period. However, the sub 1 GHz segment is expected to exhibit the most promising growth, at an 11.7% CAGR over the period between 2016 and 2024.
Geographically, the market is presently dominated by North America owing to the stringent worker safety related regulation in the region mandating the presence of critical communication systems for emergency purposes. Wireless mesh networks form the backbone of these security communication applications.
Enforcement of Stringent Worker Safety Regulations Key to Market Growth
The market has significantly expanded in the past few years owing to factors such as the enforcement of stringent worker safety regulations, especially across industries such as mining and oil and gas and the constant reduction in costs of wireless mesh network enabling elements and technologies. The applications of wireless mesh networks have also significantly increased owing to their usage in employee safety communication infrastructures across sectors such as healthcare, hospitality, government, energy, and utilities. However, the rising prominence of LTE and high-speed 3G and 4G networks may emerge as a key growth challenge for the market in the next few years.
Smart Metering Initiatives across APAC to Present Lucrative Growth Opportunities
The market for wireless mesh network is expected to benefit significantly owing to the increased focus of government bodies on the development of smart and connected public infrastructures, especially across emerging economies in the Asia Pacific region. Wireless mesh networks are expected to be the enablers of safety and communication structures across these regions.
Moreover, the demand for wireless mesh networks is also expected to benefit from the several smart metering initiatives undertaken by several public and private bodies in the region. As smart meters increasingly replace old meters across the utilities sector, the demand for connected systems capable of analyzing accurate usage will rise, invariably increasing the demand for technologies such as wireless mesh networks.
This review of the market is based on a recent market research report published by Transparency Market Research, titled “Wireless Mesh Network Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024.”
For the study, the market is segmented as follows:
By Radio Frequency Band
- Sub 1 GHz Band
- 4 GHz Band
- 9 GHz Band
- 5 GHz Band
- Health Care
- North America
- Rest of NA
- Rest of Europe
- Asia Pacific
- South Korea
- Hong Kong
- Rest of China
- South Asia
- Sri Lanka
- Rest of South Asia
- New Zealand
- Rest of APAC
- Middle East and Africa
- GCC Countries
- North Africa
- South Africa
- Rest of MEA
- Latin America
- Rest of Latin America
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