Global Home Networking Device Market: Snapshot
Owing to the rise in bandwidth offered by various service providers, the demand for connectivity in homes is expected to generate more revenues in the future years. There are three major players in the overall market and the major lead is attributed to large focus on constant innovation of products and wide distribution of network globally. There is high demand for wireless connected wearable devices, healthcare monitors, home appliances and mobile devices which forms the bulk of almost all the home networking devices. This will act as a booster for the growth and proliferation of revenues in the market worldwide.
An important factor to fuel the growth of the home networking device market is the product up gradation trend. Hardware specifications improvement with the help of connected devices have gained faster speed. Moreover, the network connectivity bandwidths and improvements like the current upgrade to the 802.11ac protocol have led to the promotion of replacing device trend and that too at a faster pace.
However, the market may be hampered with factors like portable networking solution threats. These threats are currently low but may grow strongly within no time and act as barrier in the overall development of the home networking device market in future. Another serious challenge that the home networking device market may face is the emerging porter router solutions that is being offered nowadays. These factors may restrict the market growth in the years to come.
The global home networking device market is anticipated to be worth US$23.23 bn by 2023 with a CAGR of 7.0 %. The forecast period is set to 2015 to 2023 and is presumed to be increasing from US$14.35 bn in the year 2016 as per records.
Wireless Communications Solutions to Contribute More Revenue Generation Owing to Smooth Operations
The global home networking device market is classified on the basis of component and solution. With regard to component, the global home networking device market is segmented into wireless access point (WAP), Adapter, Extender, Router, and Hub and Switch.
Based on solution, the global home networking device market is categorized into wireless and wired solutions. Further classification in terms of wired solutions are power line and network line whereas the wireless segmentation is further subdivided into ZigBee and Z-Wave. The rise in expansion of wireless communication solutions like Zigbee and Z-wave are anticipated to add to the smooth operation of wireless communication in between devices which will further surge their appeal in the market.
Asia Pacific to Remain Most Lucrative Region with Increasing Disposable Incomes
The global home networking device market is studied on the basis of key geographies Latin America, Middle East and Africa, Asia Pacific, Europe, and North America. Among these regions, the market in Asia Pacific is foreseen to rise meteorically within a few years due to the increasing usage of connected devices. As per the 2016 records, Asia Pacific was seen as the leading region for home networking devices. This is because of highly populated areas in the urbanized areas of emerging nations like China and India. Moreover, due to the rise in disposable incomes, people of this region are increasing their capability to purchase better quality devices.
Some of the key players in the home netwoprking device market are ASUSTeK Computer Inc., TP-Link Technologies Co., Belkin International, ZyXEL Communications Corp., and Huawei Technologies Co. Ltd.
Home networking devices are used to set up a local area network (LAN) in order to connect personal devices. The market is segmented on the basis of solution and component. The solution segmentation comprises wired and wireless home networking devices. Wired and wireless devices are further divided on the basis of technology into network line, powerline, Wi-Fi and, ZigBee and Z-Wave. This detailed segmentation indicates the upcoming trend in the market according to technological evolution. Wired home networking devices are connected through a network cable and electrical wires. Network line sub-segment consists of MoCA certified products which work on coaxial cable. Powerline-based home networking devices consist of adapters which convert home electrical wiring into network line for transferring data. Increasing use of Wi-Fi enabled connected devices is expected to support the demand for Wi-Fi based home networking devices.
The component segmentation covers the complete range of products required for the functioning of a home network. Hub and switch, router, extender, adapter, and wireless access point (WAP) are the products covered under this segmentation. The revenue of each component segment is inclusive of both wired and wireless home networking devices. Demand for hubs and switches are expected to decline in the coming years owing to low demand for wired home networking devices. However, the demand for routers and adapters is expected to increase due to increase in demand for wireless home networking devices.
In terms of geographical regions, the report segments the global home networking device market into North America, Europe, Asia Pacific, the Middle East and Africa (MEA), and Latin America, which are analyzed in terms of revenue and volume generation. North America is further segmented into the U.S. and Rest of North America, while Europe is divided into EU7, Commonwealth of Independent States (CIS), and Rest of Europe. Asia Pacific is subdivided into Japan, China, South Asia, Australasia, and Rest of Asia Pacific. Also, MEA is further segmented into Gulf Cooperation Council (GCC) countries, South Africa, and Rest of MEA, while Latin America is subdivided into Brazil and Rest of Latin America.
Furthermore, the report analyzes the factors that drive and restrain the growth of the home networking device market. The report also discusses the prevailing market trends, prospective growth opportunities, and major strategies increasing the popularity of the home networking devices market. It also provides market estimates and forecasts for all the segments in terms of revenue. Market estimates based on volume is only provided for component segmentation. Also provided is the market positioning analysis and competitive strategies adopted by key players in the global home networking device market.
Major business strategies adopted by key players, their market positioning, and various recent developments have also been identified in the research report. The prominent manufacturers who offer home networking devices include Belkin International, Inc., D-Link Corporation, Actiontec Electronics, Inc., Netgear, Inc., TP-Link Technologies Co., Ltd., Devolo AG, ZyXEL Communications Corp., Huawei Technologies Co. Ltd., Legrand SA, ASUSTeK Computer Inc., and Buffalo, Inc.
The home networking device market is segmented as below:
Home Networking Device Market
- Network line
- ZigBee and Z-Wave
- Hub and Switch
- Wireless Access Point (WAP)
- North America
- Asia Pacific
- Middle East and Africa
- Latin America