According to a recent study from market research firm Global Market Insights, the wireless mesh network market is set to grow from its current market value of more than $2 billion to over $8 billion by 2026, gaining remarkable traction over the 2020 to 2026 period.
Growing demand for faster and reliable data transmission is likely to drive global wireless mesh network market outlook. Wireless mesh technologies are witnessing major uptake in organizations to support high bandwidth requirements of IoT devices. These networks offer high data transmission speeds, as well as maximum network coverage, even in remote areas. Mesh networks offer high network coverage, which enables automation systems and smart devices to operate efficiently.
Mesh Wi-Fi appliances offer scalable deployment without the requirement of cabling each access to the router. This significantly reduces deployment complexities and installation costs and will hence favor wireless mesh technology deployment in the coming years.
Component-wise, the platform segment is estimated to showcase a CAGR of more than 15% over 2020-2026 owing to robust proliferation of mesh networking platforms for supporting wireless infrastructure. These platforms facilitate device manufacturers to embed a variety of smart features into their mesh-enabled products, such as home automation, voice recognition, and email & calendar management. In 2018, Asus launched a new mesh networking platform named Asus Lyra. The platform enables voice-enabled home automation features.
By architecture, the wireless mesh network market in client-based segment is set to grow at a CAGR of 20% over the analysis period owing to higher level of control facilitated by client-based architecture. Client-based infrastructure is primarily designed to provide only a single point of access to endpoint devices for efficiently routing network traffic, network connectivity, and reducing latency.
Speaking of the application landscape, the video streaming & VoIP segment gained more than 15% of the wireless mesh network market share in 2019 and is expected to showcase a growth rate of more than 20% over the projected timeframe. Such a robust growth rate can be attributed to the extensive adoption of wireless mesh networks for VoIP and real-time video streaming applications. These networks do not experience bandwidth degradation and offer extremely low latency, which is best suited for high-quality live streaming, as well as video sharing. Without facing any network performance issues, wireless mesh networks optimize the available bandwidth to maximize the number of video calls that can be supported.
APAC is set to witness a growth of over 20% CAGR from 2020 to 2026 due to the extensive proliferation of home automation and smart home technologies in the region. The low infrastructure costs and increased bandwidth capacity offered by wireless mesh networks have made it a viable solution for supporting residential IoT systems. Mesh networks are also being increasingly deployed for smart city services such as smart gas & utility meters, smart streetlights, and public Wi-Fi, augmenting the market growth across APAC.