Wireless Mesh Network Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024
Albany, NY -- (SBWIRE) -- 11/15/2017 -- The global wireless mesh networks market is extremely competitive in terms of the services and products offered by leading companies. Transparency Market Research observes that this current scenario of the vendor landscape has compelled market players to focus on the addition of innovative products and services to their portfolio to differentiate their offerings from their rivals.
Keeping this in mind, two of the most common and successful strategies that companies have been resorting to are partnerships and acquisitions. "Strategic collaborations with other leading players, niche vendors, and other strong contenders in the wireless mesh network market are commonplace in this highly competitive environment," the author of the study states. "This has a favorable impact not just in terms of the development of newer products and services but also in terms of improved sales channels.
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For instance, ABB's acquisition of Tropos Networks has enabled the Zurich-based company to develop new products based on the existing prototypes by combining their own technology with that of Tropos. This has resulted in ABB establishing itself as a major brand and leveraging its present market position to further sales.
Developing Regions Hold Lucrative Opportunities
TMR predicts that the government sector is likely to present a large demand for wireless mesh from the public safety and communication networks owing to the cost-effectiveness of mesh networks. "Given that the implementation of these networks will be part of large-scale projects, players in the market can make the most of the high-profit opportunities presented by the government projects despite the low pricing scenario," a TMR analyst states.
Moreover, wireless mesh network providers can benefit from low competition in developing regions such as Latin America, Asia Pacific, and the Middle East. "These regions provide major opportunities for new entrants, wherein they can make the most of the availability of distributors, resellers, and service providers and develop a healthy position for themselves in the wireless mesh network market," the analyst suggests.
The Opportunity in Numbers
The demand for wireless mesh networks is anticipated to surge from 13.3 mn units in 2015 to 37.2 mn units by 2024. The market worth, on the other hand, is projected to rise from US$3.9 bn in 2015 to US$8.9 bn by the end of the forecast period, registering a 9.7% CAGR. "The flexibility that mesh networks offer and their fast and easy deployment drives the adoption of wireless mesh networks," the author finds.
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Among the major radio frequency bands used, 2.4GHz is the largest segment considering it is the most commonly used frequency band for Wi-Fi applications in most parts of the world. Although this segment will continue leading the market throughout the forecast period, it is predicted to lose market share by 2024. On the other hand, the segment of sub 1GHz is expected to register the highest growth, registering an 11.7% CAGR from 2016 to 2024.
This review is based on the findings of a TMR report titled "Wireless Mesh Network Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015-2023.