According to a new market research report published by Credence Research “Wi-Fi Home Gateway Market (Product Type – Less Than 300 Mbps, 300- 1000 Mbps, Above 1000 Mbps) (Application- Home Office Using, Entertainment Using)) – Growth, Future Prospects and Competitive Analysis, 2019 – 2027”, the overall Wi-Fi home gateway market worldwide is set to grow with a CAGR of 14.6% during the forecast period.
The Wi-Fi home gateway market is growing rapidly owing to tremendous growth in high speed internet requirement worldwide. The Wi-Fi market is valued more than US$ 5.0 Bn in 2018 and growing with more than 16% growth rate annually. The Wi- FI home gateway device is that device which performs the functions of a router and a modem. Growing smart consumer electronics devices worldwide is the major growth driver for the Wi-Fi home gateway market. Wi-Fi home gateway can function in a wireless LAN, Wired LAN, and both. The Wi-Fi home gateway devices are used to provide internet access to different devices. Further, it is also used to reduce network traffic and for possible communication in dissimilar environments. Therefore, we expect that the Wi-Fi home gateway market will show tremendous growth throughout the forecast period.
Based on application, Wi-Fi home gateway market is led by home office using segment account for more than 50% of the market revenue in 2018. Home office using segment has the largest share due to growing adoption of smart devices at home and workplaces. Due to various benefits of Wi-Fi home gateways such as multiple device access, less support cost and high rates of bandwidth are the major reasons for adoption of these devices for home office using. High growth of smart home market and growing internet penetration at homes worldwide are some of the major growth factors for the segment. Consequently, we expect that the segment will show significant growth during the forecast period.
Based on the geography, North America was the largest revenue contributor in Wi-Fi home gateway market. North America accounts for more than 1/3rd of the market in 2018 owing to high adoption of smart devices in the region. Asia Pacific will be the fastest growing region in the Wi-Fi home gateway market during the forecast period owing to rising disposable incomes and growing adoption of smart devices in the region. China and India will be the largest contributor in the growth of Asia Pacific region owing to growing internet penetration and rising urbanization. As a result of these factors, we expect that Asia Pacific will show tremendous growth in Wi-Fi home gateway market throughout the forecast period 2019- 2027.
Some of the major companies profiled in the report include TP-Link Technologies Co., Ltd., D-Link Corporation, Tenda Technology Inc., NETGEAR Inc., AsusTek Computer Inc., Huawei Technologies Co., Ltd., Qihoo 360 Technology Co. Ltd., Xiaomi Corporation , among others.
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