Factors driving growth of the WLAN equipment market.
The integration of IoT and increasing demand for cloud-based applications are the factors that are expected to drive growth of the WLAN equipment market over the forecast period. In these applications system can collect data from user home appliances through wireless network to provide seamless experience of services and products to end-users. Moreover, due to the rising innovations and developments in the wireless solutions, end users are preferring wireless technologies over wired and cable management systems. For instance, end user can connect multiple devices to wireless network and can move anywhere at home and can share data over wireless network to other devices. Additionally, IoT devices transfer data at a faster rate, which is highly beneficial for commercial and personal purposes. Furthermore, technologies such as Wi-Fi 6 improves the performance of IoT devices and ensure more secure internet connectivity. The adoption of faster network technologies will boost faster communication methods and further improve the productivity of businesses. Thus, development of cloud-based technologies is expected further to drive growth of the WLAN equipment market over the forecast period.
For instance, in 2019, Cisco Systems, Inc., launched Wi-Fi 6 wireless networking access points for enterprises. Wi-Fi 6 offers faster speed, reliability, and increased device connectivity in many industries. Wi-Fi 6 employs IoT devices on a smaller network and offer benefits to many sectors such as hospitality, retail, and education. For instance, in November 2016, D-Link Corporation entered into a strategic partnership with Microsoft, a U.S.-based company that manufactures, develops, and sells computer software and related services. Under this partnership, Microsoft delivers high-speed Wi-Fi known as "Super Wi-Fi" to the rural communities, across the globe.
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However, data privacy is the major challenge faced by many organizations, owing to tremendous increase in cyber-attacks such as data breaches, malware, and others. These factors are expected to hamper growth of the WLAN equipment market over the forecast period.
Regional analysis of WLAN equipment market
On the basis of region, the market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa.
Among regions, North America is expected to account for largest market share over the forecast period, owing to the presence of key players in the region such as Cisco Systems, Inc., Hewlett Packard Enterprise Development LP, and Ruckus Wireless. The growth of the global WLAN equipment market is due to the advancement in technology and key players in this region are investing in research & development in WLAN technologies. Furthermore, there is increasing demand for hotspots, owing to rise in the adoption of smartphones and tablets and growth in internet dependency among customers in the region. For instance, according to Coherent Market Insights analysis, the number of smart phone users in US increased from US$ 264.5 in 2019 to US$ 274.7 in 2020. North America is the developed country and the main IT hub, which increases the demand for the WLAN equipment market. This is attributed to industrialization and existence of many IT companies which uses LAN for various application such as IT and Telecommunications, BFSI, Retail, Government and Public Sector, Healthcare, and Transportation.
Moreover, Asia Pacific is expected to witness significant growth over the forecast period owing to the highest deployment of cloud-based services in the region. In addition, Asia Pacific is investing in the IT and telecommunication sector, which in turn is expected to drive growth of the WLAN equipment market.
Key players in the WLAN equipment market
Key players operating in the WLAN equipment market include Cisco Systems, Inc., Hewlett Packard Enterprise Development LP, Ruckus Wireless, Ubiquiti Inc., Extreme Networks, Zebra Technologies Corp., NETGEAR, Huawei Technologies Co., Ltd., D-Link Corporation, TP-Link Technologies Co., Ltd., Belkin International, Inc., ALE International, Dell, ZTE Corporation, Boingo Wireless, Inc., Allied Telesis, Inc., Proxim Wireless, Advantech Co., Ltd., and Juniper Networks, Inc.
Segmentation of the WLAN equipment market
WLAN equipment market is segmented on the basis of component type, location, technology standard, application, and region.
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