Analysis on Impact of COVID-19-Global Home Wi-Fi Router Market 2020-2024 | Increasing Adoption of Smart Connected Home Systems to Boost Market Growth | Technavio
LONDON--(BUSINESS WIRE)--May 12, 2020--
The global home Wi-Fi router market size is expected to grow by USD 1.30 billion during 2020-2024. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. The impact can be expected to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth, according to the latest market research report by Technavio. Request a free sample report
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Technavio has announced its latest market research report titled Global Home Wi-Fi Router Market 2020-2024 (Graphic: Business Wire)
Due to the rising penetration of smart home technologies, the demand for AI-enabled smart home controllers and smart appliances such as refrigerators, dishwashers, TV sets, and microwave ovens has increased. Smart technologies enable consumers to control the various functions of such appliances remotely with great convenience. It also enhances the efficiency of the products and provides long term cost-savings. However, these systems require wireless technologies such as a Wi-Fi network to ensure seamless connectivity. Hence, with the increasing adoption of smart connected home systems, the demand for home Wi-Fi routers is expected to increase significantly over the forecast period.
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As per Technavio, the partnership between telecom network providers and wi-fi router manufacturers will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Home Wi-Fi Router Market: Partnership between Telecom Network Providers and Wi-Fi Router Manufacturers
Telecom providers in developing countries such as China and India are partnering with Wi-Fi router manufacturers to offer high-speed data connectivity. This is helping both telecom providers and Wi-Fi router manufacturers to expand their consumer base and gain a competitive edge in the market. For instance, in 2017, Airtel India collaborated with a leading Wi-Fi router manufacturer to develop the 5G network and offer 5G routers for its new customers in India. Such collaborations are increasing the sale of home Wi-Fi routers thus leading to the growth of the market.
“Factors such as the increase in demand for distance learning, and the high Internet penetration along with increasing online content will have a significant impact on the growth of the home Wi-Fi router market value during the forecast period,” says a senior analyst at Technavio.
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Home Wi-Fi Router Market: Segmentation Analysis
This market research report segments the home wi-fi router market by type (fixed Wi-Fi router and mobile Wi-Fi router) and geography (North America, Europe, APAC, South America, and MEA).
The North American region led the home Wi-Fi router market in 2019, followed by Europe, APAC, South America, and MEA respectively. However, during the forecast period, the APAC region is expected to register the highest incremental growth due to the expanding market for online digital content in the region.
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Some of the key topics covered in the report include:
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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SOURCE: Technavio Research
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PUB: 05/12/2020 11:30 PM/DISC: 05/12/2020 11:30 PM