In 2030, the market for home Wi-Fi routers and extenders will reach $18 billion
In 2030, the market for home Wi-Fi routers and extenders will
reach $18 billion
The increase in population and Internet penetration has led
to the growth of telecommunications equipment and home network equipment, which
are the main factors that trigger the growth of the home Wi-Fi router and
extender market.
Market Introduction
TMR Research Insights, a market research organization,
released an important insight into the global home Wi-Fi router and extender
market. In terms of market revenue, it is estimated that by 2030, the home
Wi-Fi router and extender market will reach 18 billion U.S. dollars. During the
forecast period from 2020 to 2030, the global home Wi-Fi router and extender
market is expected to grow There are many reasons for the compound annual
growth rate of about 7%, and TMR provides comprehensive insights and forecasts.
For example, the increase in population and Internet
penetration has led to the growth of telecommunications equipment and home
network equipment, which are the main factors that trigger the growth of the
home Wi-Fi router and extender market. In addition, the rapid growth and
improvement of the technology of consumer electronic products such as smart
phones and tablets, and the demand for Wi-Fi routers with extenders are being
seen, which in turn promotes the expansion of the market.
Market dynamics
Increase the penetration rate of connected devices: It is
estimated that the increase in mobile connections and Internet bandwidth will
play a key role in the development of the Wi-Fi router market, thereby adopting
wireless-based network devices in the near future. It is expected that the
increase in the use of wirelessly connected home appliances, medical monitors
and wearable devices and the reduction in network hardware costs will drive the
demand for connected devices.
According to the 2015-2020 Cisco Visual Network Index, the
number of mobile connected devices including M2M modules is expected to reach
11.6 billion by 2020. In addition, according to data from the Organization for
Economic Cooperation and Development (OECD), by 2022, the number of connected
devices in OECD countries may increase from 1.8 billion in 2012 to 14 billion.
Therefore, the huge demand for networked devices is expected to drive the
installation of Wi-Fi routers in the commercial and home sectors. This driving
factor has a great impact in the short, medium and long term, and may promote
the expansion of the home Wi-Fi router and extender market in the next few
years.
Increase in Internet penetration rate: In the past few
years, the Internet penetration rate in both developed and developing countries
has increased substantially. In recent years, turning the home into a smart
home has become more and more popular, which in turn has promoted the growth of
the home Wi-Fi router and extender market. The Internet is responsible for
generating large amounts of information through the use of social media
applications and social networking sites.
Therefore, users are adopting advanced mesh Wi-Fi routers
and extenders. This will drive the growth of the home Wi-Fi router and extender
market. In addition, governments around the world are taking initiatives to
adopt long-term evolution (LTE) and 5G communication technologies to benefit
the public, which can provide high-speed Internet in the home environment. This
has also accelerated the growth of the home Wi-Fi router and extender market.
In addition, due to COVID-19, the growing young labor force and the policy of
working from home are expected to trigger the growth of the home Wi-Fi router
and extender market.
Regional market overview
From a global perspective, the global home Wi-Fi router and
extender market has been subdivided into North America, Europe, Asia Pacific,
Middle East and Africa, and South America. North America is expected to occupy
an important share of the home Wi-Fi router and extender market in 2019, and
this trend may continue in the forecast period from 2018 to 2030. In North
America, the United States and Canada are expected to drive the global market.
This is due to the high level of adoption of advanced related technologies in
the region, and great emphasis on innovation through research and development.
These regions have the most competitive and fastest-changing markets in the
world in terms of improving home Wi-Fi router and extender strategies and their
adoption in the commercial and residential sectors.
The Asia-Pacific region dominates the home Wi-Fi router and
extender market in 2020, with China contributing 29.5% of the majority share.
The region’s dominance in the market can be attributed to its huge population
base, the acceleration of industrialization and urbanization, the growth of
home networks, the increasing penetration of connected devices, and Internet
access. Analyzing the home Wi-Fi router and extender market in the Asia-Pacific
region at the national level, it is expected that India and China will continue
to lead the global home Wi-Fi router and extender market during the forecast
period. This is mainly due to the increase in the penetration rate of the
Internet and mobile Internet, as well as the increase in Internet connectivity
and speed.