According to a new market report on home Wi-Fi router and extender, published by Transparency Market Research the global home WiFi router and extender market is expected to reach US$ 12,956.9 Mn by 2026, expanding at a CAGR of 6.6% from 2018 to 2026. According to the report, the global market will continue to be influenced by a range of macroeconomic and industry-specific factors. Asia Pacific will continue to be at the forefront of global demand, with the market in the region growing at a CAGR of 8.0% through 2026.
Increasing penetration of connected devices and Internet driving the global home Wi-Fi router and extender market
The demand for home Wi-Fi router and extender is directly reliant on the growth of telecommunications, residential & commercial sector, and industrial development. Exponentially growing urbanization and rising global population have increased the demand for internet, thereby offering multiple opportunities to the global Wi-Fi router and extender market.
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Home Wi-Fi Router and Extender Market: Scope of the Report
The global home Wi-Fi router and extender market is broadly segmented by device and region. By device, the market is segmented into Wi-Fi router and Wi-Fi extender. Wi-Fi router is expected to have the highest market share between 2018 and 2026. The increase in the population and the penetration of internet access results in the growth of telecommunication equipment as well as home networking devices which are the major factors contributing to the high share of Wi-Fi router. Also, due to the rapid growth and improvement in technology for smartphones and consumer gadgets such as tablets, demand for Wi-Fi router with extender is rising at a CAGR of 7.1%.
Wi-Fi router is further divided into uplink port and normal port. Uplink port had the highest share in 2018 and is further expected to lead the home Wi-Fi router and extender market during the forecast period. Routers use the uplink port to connect to other routers to increase the maximum number of devices connected to the network. Uplink ports eliminate the need for crossover cables. In terms of revenue, the uplink port segment is expected to have the highest market share in 2018. It is anticipated to maintain its position during the forecast period and witness a CAGR of 6.6% throughout the forecast period. By using uplink port, a user can add more ports to connect more devices to the network and expand the Wi-Fi range. Rapid urbanization especially in the developing countries of Asia Pacific and the Middle East is aiding the growth of home Wi-Fi router and extenders in the residential sector.
Asia Pacific dominated the home Wi-Fi router and extender market in 2017 with Hong Kong contributing majority share of 23.7%. The dominance of the region in the market is attributed to its large population base, increasing industrialization and urbanization, growth in home networking, increased 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 Hong Kong would lead the global home Wi-Fi router and extender market consistently throughout the forecast period. This is mainly due to increase in the internet and mobile internet penetration rate as well as improved connectivity and speed of internet. Apart from Hong Kong, countries such as India, China, Vietnam, and Japan are also expected to contribute significantly to the Asia Pacific home Wi-Fi router and extender market. However, the home Wi-Fi router and extender market in India is expected to expand at a CAGR of 8.6%. In India it is expected to slightly increase till 2026 due to smaller cities, towns, and villages getting connected to Internet which offers a big market for routers. North America and Europe collectively contributed 50.2% of the global share in 2018.
Global home Wi-Fi Router and Extender Market: Competitive Dynamics
The research study includes profiles of leading companies operating in the global home Wi-Fi router and extender market. Market players have been profiled in terms of attributes such as company overview, financial overview, business strategies, and recent developments. Key players in the home Wi-Fi router and extender market includes – Actiontec Electronics, Inc, ASUSTeK Computer Inc, Belkin International, Inc., Cisco Systems Inc., Dell Inc, Devolo AG, D-Link Corp, Huawei Technologies Co. Ltd., Intel Corporation, Legrand SA, Netgear, Inc., Tenda Technology Inc., TP-Link Technologies Co., Ltd., and ZyXEL Communications Corp. among others. Companies are focusing on expanding their business through strategic acquisitions and partnerships with several end-use industries.