According to a new market research report published by Credence Research “Global Home Wifi Router and Extender Market (Wi-Fi Router (Normal Port, Uplink Port); Device (Wi-Fi Extender, Wi-Fi Router) – Growth, Future Prospects and Competitive Analysis,2019 – 2027”,the overall Home Wifi Router and Extender market worldwide is expected to registered a market value of US$ 14.60 Bn in 2027 and is set to grow with a CAGR of 9.30 % during the forecast period.
Rising digitalization and technological advancement for home appliances is one of the factors which is driving the market across the globe. The rising demand for smart homes and connected devices for homes is fueling the growth of home wifi router and extender. These devices allow the user to the internet with the help of wireless signals reducing the requirement of the physical network and also expand the signals range with the help of wifi extender. Additionally, the increasing disposable income among the user and improvement in smartphones and consumer electronic devices has led to increasing the demand for wifi. Hence these factors a crucial role in the growth of the market.
Based on end-device, the home wifi router and extender market have been segmented wi-fi extender and a wi-fi router. The wi-fi router segments are the dominating segment in 2018 with a market share of more than 60.0% and are expected to dominate the market during the forecast period. The increasing population across the globe and the increasing requirement of smart homes are considered one of the major factors driving the segment globally. The use of the internet has allowed increasing their home security by accessing the devices with their smartphones connected with wifi. Hence this has led to increasing the demand for wifi routers across the globe. The wifi router segment is expected to be the fastest-growing segment and is expected to dominate the market during the forecast period.
Europe accounts for the second-largest market share based on region. Moreover, the individuals are shifting towards wireless connectivity and networks in the region which is one of the major factors driving the home wifi router and extender in the region. Europe based on countries has been segmented as the UK, Germany, France and the rest of Europe. The UK accounts for the largest market share in the region due to the early adoption of smart homes in the region.
Some of the prominent players operating in the home wifi router and extender market include ASUS TeK Computer Inc., Actiontec Electronics, Inc., Belkin International, Inc., Dell Inc., Cisco Systems Inc., TP-Link Technologies Co., Ltd., Devolo AG, D-Link Corp., Intel Corporation, Huawei Technologies Co. Ltd., Legrand SA, Tenda Technology Inc., Netgear, Inc., and ZyXEL Communications Corp.
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