Speed is vitally important for a successful fighter.  Slow strikes make it easy for an opponent to defend, evade, or even counter.  Every fighter has a certain level of quickness wired in from the get go.  Athletic fighters are much quicker naturally than those who are not.  The good news is that everyone who wants to be faster and more explosive definitely can achieve it.
Developing speed in your punches can be done with very little equipment or space.  The only thing you may need are boxing gloves sixteen ounce or heavier.  This will add some weight to create some resistance when you throw punches.
Timed Drills
Start out by setting a timer of one minute.  You are going to perform a technique such as the right jab for a straight minute.  Your goal is to perform as many repetitions as you can within that minute.  It is also a good way to measure your progress.  I can usually throw over two hundred jabs, but there are guys out there who can do much more.
Repetition Drills
Another way you can train your speed is to perform as many repetitions as you possibly can.  Perform a right jab for as many repetitions as you can.  This is a great drill to push your limit, and you will notice an increase in your speed almost instantly.  A good goal to shoot for is a thousand or more punches.
Basic Boxing Techniques
Focus on the following techniques as a starting point and work your way from there including combinations.

• Jabs
• Cross
• Hook
• Uppercut
• Back Fist
• Hammer Fist

You develop fast strikes by repetition.  Let’s face it, you put in the time and effort, you will reap the reward.  Speed will not come overnight, so patience and commitment is important if you want to become much faster.  Over time the same thing can get monotonous and dull, but persevere because the benefits are worth it.