Home Wi-Fi Router and Extender Market: Introduction
Transparency Market Research delivers key insights on the global home Wi-Fi router and extender market. In terms of revenue, the global home Wi-Fi router and extender market is estimated to expand at a CAGR of ~7% during the forecast period from 2020-2030, owing to numerous factors, regarding which TMR offers thorough insights and forecasts in its report on the global home Wi-Fi router and extender market.
Increase in the population and penetration rate of Internet result in the growth of telecommunication equipment as well as home networking devices, which are the major factors triggering the growth of the home Wi-Fi router and extender market. Moreover, rapid growth and improvement in technology for smartphones and consumer gadgets such as tablets, and demand for Wi-Fi router with extender is being seen, which, in turn, drives the expansion of the market. The report analyzes the global home Wi-Fi router and extender market and provides estimates in terms of revenue (US$ Mn) from 2018 to 2030.
Home Wi-Fi Router and Extender Market: Market Dynamics
Increasing penetration of connected devices: Mobile connectivity and increase in Internet bandwidth are estimated to play a pivotal role in the development of the Wi-Fi router market, enabling adoption of wireless-based networking devices in the near future. Increased usage of wireless connected home appliances, healthcare monitors, and wearable devices, and decrease in the cost of networking hardware are anticipated to fuel the demand for connected devices. According to the Cisco Visual Networking Index 2015–2020, the number of mobile connected devices, including M2M modules, is projected to reach 11.6 billion by 2020. Furthermore, according to the Organisation for Economic Co-operation and Development (OECD), the number of connected devices in OECD countries is likely to reach 14 billion by 2022, from 1.8 billion in 2012. Thus, significant demand for connected devices is anticipated to boost the installation of Wi-Fi routers in the commercial sector and household sector. The impact of this driver is high during the short, medium, and long term, which is likely to boost the expansion of the home Wi-Fi router and extender market in the upcoming years.
Increasing penetration of Internet: Penetration of the Internet has hugely increased over the past couple of years in developed as well as in developing countries. Making homes into smart homes is gaining popularity in recent years, which, in turn, is enhancing the growth of the home Wi-Fi router and extender market. The Internet is responsible for generating large volumes of information through the usage of social media applications and social networking sites. Thus, users are adopting advanced mesh Wi-Fi routers and extenders. This will boost the growth of the home Wi-Fi router and extender market. Furthermore, governments across the globe are taking initiatives to adopt long-term evolution (LTE) and 5G communication technologies for the welfare of the public, which can provide high Internet speeds in home environments. This too accelerates the growth of the home Wi-Fi router and extender market. Moreover, the growing young workforce and work from home policy due to COVID-19 is projected to trigger the growth of the home Wi-Fi router and extender market.
Home Wi-Fi Router and Extender Market: Prominent Regions
In terms of region, the global home Wi-Fi router and extender market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America is expected to hold a significant share of the home Wi-Fi router and extender market in 2019, and this trend is likely to continue during the forecast period 2018 to 2030. Within North America, the U.S. and Canada are anticipated to drive the global market. This is due to the higher adoption levels of advanced relevant technologies in the region and high focus on innovations through R&D. These regions have the most competitive and rapidly changing markets in the world for improving home Wi-Fi router and extender strategy and its adoption in commercial and residential sectors.
Asia Pacific dominated the home Wi-Fi router and extender market in 2020 with China contributing majority share of 29.5%. The dominance of the region in the market can be attributed to its large population base, increasing industrialization and urbanization, growth in home networking, rising penetration of connected devices, and Internet access. Analyzing the Asia Pacific home Wi-Fi router and extender market at country level, it is anticipated that India and China would lead the global home Wi-Fi router and extender market consistently during the forecast period. This is mainly due to the increase in Internet and mobile Internet penetration rate as well as improved connectivity and speed of the Internet. Apart from India and China, countries such as Japan, Singapore, Malaysia, and Australia are also expected to contribute significantly to the Asia Pacific home Wi-Fi router and extender market. The home Wi-Fi router and extender market in India is expected to expand at a CAGR of 13.1%. In India, it is expected to slightly increase until 2030 due to smaller cities, towns, and villages being connected to the Internet, which offers a big market for routers. Rapid urbanization, especially in developing countries of South America and the Middle East is aiding the growth of home Wi-Fi router and extenders in the residential sector.
The report provides in-depth segment analysis of the global home Wi-Fi router and extender market, thereby providing valuable insights at macro as well as micro levels. Analysis of major countries, which hold growth opportunities or account for significant market share, has also been included as part of geographic analysis of the home Wi-Fi router and extender market.
Home Wi-Fi Router and Extender Market: Key Players
Key players operating in the global home Wi-Fi router and extender market include Actiontec Electronics, Inc., ASUS TeK Computer Inc., Belkin International, Inc., Best IT World Pvt. Ltd. (iBall), Cisco Systems, Inc., Dell Inc., Devolo AG, D-Link Corporation, Huawei Technologies Co. Ltd., Intel Corporation, Legrand SA, Netgear, Inc., ShenZhen KuWFi Technology Co., Ltd, Tenda Technology Inc., TP-Link Technologies Co., Ltd. and ZyXEL Communications Corp.
Global Home Wi-Fi Router and Extender Market: Segmentation
Home Wi-Fi Router and Extender Market, by Device
Home Wi-Fi Router and Extender Market, by Region
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