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.