Home Wi-Fi Router Market Size to grow by USD 1.76 billion | Market Insights highlights the increase in demand for distance learning as a key driver | Technavio
NEW YORK, Jan. 6, 2022 /PRNewswire/ -- According to the research report "Home Wi-Fi Router Market by Type and Geography - Forecast and Analysis 2021-2025", the market will witness a YOY growth of 6.88% in 2021 at a CAGR of 10.01% during the forecast period. Furthermore, this report extensively covers market segmentation by type (Fixed Wi-Fi router and Mobile Wi-Fi router) and Geography (North America, APAC, Europe, South America, and MEA).
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The home wi-fi router market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market. It includes a small number of international players and a considerable number of small-scale participants regionally. Prominent players are implementing high-speed gigabit ethernet LAN switches in their Wi-Fi routers. They are focusing on M&A activities to enter the market, increase their market shares, and strengthen their geographical presence. Innovations by key vendors will lead to product development and drive the global home Wi-Fi router market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
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Geographical Market Analysis
36% of the market's growth will originate from APAC during the forecast period. US, India, China, Russian Federation, and Germany are the key markets for the home wi-fi router market in APAC.
Factors such as the high demand for fast internet solutions from home users in North America and the increasing availability and adoption of secure Wi-Fi routers drive the home Wi-Fi router market in the region. The US and Canada are the major adopters of home Wi-Fi routers in North America.
The growing use of smart appliances such as smart TVs, smartphones, smart refrigerators, and digital assistants, as well as the mature end-user base and early adoption of new technologies such as OTT platforms, online banking, and e-commerce platforms in North America, all, contribute to the region's demand for high-speed Internet.
With advances in technology and an increase in the adoption of smart connected devices by home users, the demand for advanced, high-speed Wi-Fi routers in the region will increase during the forecast period.
Furthermore, countries such as the US, India, China, Russian Federation, and Germany are expected to emerge as prominent markets for the home wi-fi router during the forecast period.
Know more about this market's geographical distribution along with the detailed analysis of the top regions. https://www.technavio.com/report/home-wi-fi-router-market-industry-analysis
Key Segment Analysis
The home wi-fi router market share growth by the fixed Wi-Fi router segment has been significant. Wi-Fi routers that are connected by LAN connections and programmed for fixed locations, such as residences, are known as fixed Wi-Fi routers. The global home Wi-Fi router market's fixed Wi-Fi router segment is the largest and fastest-growing segment.
North America and Western Europe are exhibiting high demand for advanced and fast Wi-Fi routers because of the extensive use of these routers in the e-learning and OTT industries. Factors such as rising online content consumption and widespread use of smart connected devices at home will drive the worldwide home Wi-Fi router market during the forecast period,
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Key Market Drivers & Trends:
The increase in demand for distance learning is notably driving the home wi-fi router market growth. Education is undergoing major transformational changes that have led to the emergence of e-learning. Distance learning opens doors all over the world, especially for those who find it impossible to physically attend university sessions owing to geographic, financial, or time constraints. The growing dependency on the Internet easily allows universities to create, deliver, and manage courses online. The rise in the number of universities in the US that provide online courses with a wide variety of courses frequently added also drives the market.
Furthermore, a significant rise in the demand for smart home appliances, especially refrigerators, dishwashers, smart TV, voice assistance, and microwave ovens, has pushed the demand for home Wi-Fi routers. Smart home technologies such as AI-enabled smart home controllers and smart hubs that can remotely control appliances are major factors for the adoption of smart and innovative appliances. Thus, increasing smart connected devices use in homes is driving the growth of the global home Wi-Fi router market during the forecast period.
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