Global Home Wi-Fi Router Market Will Grow at a CAGR of Almost 7% during 2019-2023 | Technavio
LONDON--(BUSINESS WIRE)--Apr 22, 2019--Technavio has announced the release of their research report on the Global Home Wi-Fi Router Market for the forecast period 2019-2023. This home Wi-Fi router market analysis report segments the market by type (fixed Wi-Fi router and mobile Wi-Fi router) and geography (APAC, Europe, MEA, North America, and South America).
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The global home Wi-Fi router market will post a CAGR of almost 7% during 2019-2023 (Graphic: Business Wire)
Global home Wi-Fi router market size will grow by USD 966.37 million during 2019-2023, at a CAGR of almost 7%. With the rising competition in the telecom industry, telecom companies are partnering with home Wi-Fi router providers as a new strategy to increase their customer base, gain a competitive edge, and have a long-term leadership in the market. Also, the need for high-speed data connection is compelling them to leverage Internet connectivity by partnering with Wi-Fi router manufacturers. This helps them to offer new Internet connection such as 5G network and routers like Nokia's 5G routers for home users.
Increasing adoption of smart connected home system
Wi-Fi routers are increasingly being used in smart connected home systems to connect smart home appliances. Also, technological advances and innovations in Wi-Fi routers are driving growth in the smart home appliances market. Home Wi-Fi routers enable 24'7 seamless Internet connectivity for Al-enabled smart home controllers and smart hubs to remotely control smart home appliances. This is encouraging smart appliance vendors to attract tech-savvy consumers by introducing product differentiation and technologies such as Wi-Fi for connectivity. This bridges the gap between users and their appliances and helps them to handle and perform tasks remotely.
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“The high internet penetration, increasing dependency on the internet, and the growing adoption of technology will drive the home Wi-Fi router market growth in APAC. Additionally, the growing focus on smart city and smart home planning and growth initiatives for an internet revolution in countries such as India and China will also drive the growth of the market in the APAC region”, says an analyst at Technavio.
Vendors of Wi-Fi routers are focusing on maintaining their market position by partnering with telecom providers. They are also trying to maintain a competitive advantage by participating in strategic alliances with other end-user industries to slowly enter the untapped regions in APAC. Also, they are introducing next-generation Wi-Fi routers with dual-band frequencies, modern chipsets, built-in filters, and multiple antennas. All these factors will boost adoption leading to an increase in the sale of home Wi-Fi routers.
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This home Wi-Fi router industry research report provides an in-depth analysis of the major drivers, upcoming trends, and challenges that will impact market growth over the forecast period. The report analyzes the competitive landscape and offers details on several home Wi-Fi router manufacturers including:
- ASUSTeK Computer Inc.
- Cisco Systems
- D-Link Corporation
- Huawei Technologies Co.
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. Technavio’s report library consists of more than 10,000 reports covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies.
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INDUSTRY KEYWORD: TECHNOLOGY CONSUMER ELECTRONICS HARDWARE INTERNET NETWORKS MOBILE/WIRELESS
SOURCE: Technavio Research
Copyright Business Wire 2019.
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