According to a new market report published by Transparency Market Research entitled “Wireless Mesh Network Market (By Radio Frequency Band – sub 1 GHz, 2.4 GHzH, 4.9 GHz and 5 GHz; By Application – Hospitality, Government, Logistics, Mining, Education, Health Care, Others) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2020 – 2027,” the global wireless mesh network market is expected to reach a value of US$ 11,622.9 Mn by 2027. The market is estimated to expand at a CAGR of 9.5% during the forecast period from 2020 to 2027.
Wireless mesh networks are experiencing significant growth in deployments. The rising adoption of mesh networks by energy and mining industry verticals for connectivity and safety infrastructure is increasing the demand for wireless mesh networks. Reduced cost with the help of wireless connectivity is also expected to increase the popularity of wireless mesh networks during the forecast period. High bandwidth and self-management functions have increased the adoption of wireless mesh networks. Scalability of mesh networks helps in improving the efficiency of any application as the size of network could be easily adjusted according to the requirements.
Replacement of old electricity and gas meters with the new connected smart meters has also increased the demand for wireless mesh networks during the recent years. In 2018, North America held the major market share in terms of revenue generated from wireless mesh networks globally, followed by Europe. However, Asia Pacific and Latin America are forecast to grow at a faster rate than these mature markets.
Among the wireless mesh network radio frequency bands, 2.4 GHz held the largest market share of approximately 59.6% in 2018, as the 2.4 GHz is an open license band which offers up to 14 channels for communication. It has comparatively more range of connectivity than the higher frequency bands.
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Voice, video and data connectivity applications use the 2.4 GHz frequency band for better connectivity. Also, it has high penetration capabilities for obstacles such as thick wall and ceiling. 2.4 GHz frequency band is a globally accepted band and devices operating in this frequency are readily available.
In the application segment, others section accounted for a major share of revenue in 2018. Mining and oil and gas industries have the highest adoption of wireless mesh network. Worker safety rules and regulations have forced enterprises to install security applications within the facilities. These security applications are using wireless mesh networks for communication and connectivity. Underground mining operations poses a great amount of risk to worker’s health, wireless mesh networks can provide reliable connectivity for continuous communication with the control center.