Evolve Business Intelligence has published a half-cooked research report on the Global Wireless Router Market, 2021–2030. The global Wireless Router market is projected to exhibit a CAGR of around 8.4% during the forecast period of 2022 to 2030.
Evolve Business Intelligence has recognized the following companies as the key players in the global Wireless Router market are Cisco Systems, Inc, Shenzhen Tenda Technology Co. Ltd, TP-Link Technologies Co. Ltd, Belkin International, Inc, D-Link Corporation, Edimax Technology Co., Ltd, Huawei Technologies Co., Ltd, Netgear Inc, Xiaomi, ASUSTeK Computer Inc.
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Market Highlights
The global Wireless Router market is projected to be valued at USD 17084.09 million by 2030, recording a CAGR of around 8.4% during the forecast period. Wireless routers have replaced traditional wired connections to the internet, with their wireless access points providing connectivity. With the COVID-19 pandemic, many players and individual consumers are working from home (WFH) and have secured their IT products. This has led to shortages in the supply of IT peripherals, including wireless routers. In addition, there has been a rapid rise in the number of people who have internet access worldwide. 4.66 billion people have active internet accounts – which is 59.5% of the world population. There are 4.32 billion unique mobile phone users globally or two-thirds of all Earth’s inhabitants. The Wireless Router Market players are constantly on their feet to meet up the demand due to the rising demand for faster connectivity and increased ownership of gadgets.
The COVID-19 pandemic provided the great potential to the global Wireless Router market. Wireless routers have become a necessary component of the modern household. They are used by people to access the internet and communicate with their loved ones across the world. The COVID-19 pandemic has caused a surge in demand for wireless routers, which is not surprising considering that they are used as a means of communication and access to information during emergencies.
Segmental Analysis
The global Wireless Router market has been segmented based on Standard, Product Type, Application, and End-Use.
Based on the Standard, the Wireless Router market is segmented into 802.11b, 802.11g, 802.11n, 802.11ac, and 802.11ax.. The 802.11n segment dominates the market. the 802.11n segment is anticipated to account for the large market share because of the high speed of 600mbps that it provides to transfer data. Furthermore, MIMO antennas are used which allow devices to send data across multiple channels, thereby increasing bandwidth and consistency in performance.
Based on Product Type, the Wireless Router market is segmented based on SIngle Band, Dual-Band, and Tri-Band. Dual-band dominates the Product Type market segment largely due to the better speed and extended range when it is compared to single-band routers. Dual-band routers support many modern devices and prove more stable and widely available.
Based on Application, the Wireless Router Market is segmented into Household, Commercial, Enterprise, and Transportation. The Household segment accounts for the largest market share in the application segment. Whereas the Commercial segment will grow at the highest CAGR. Commercial use of wifi router systems is predicted to grow in the coming years because commercial infrastructure is increasingly being established, especially in developing nations. Different buildings such as shopping malls, hotels, restaurants, etc. now-a-day offer wifi services.
Based on End-Use, the Wireless Router Market is segmented into Indoor and Outdoor use. The indoor segment is expected to hold the largest share for the foreseeable future. The market penetration in homes and offices is very high. Plus, more devices are being released into the marketplace that connects over a network of wireless internets such as home appliances or TVs.
Regional Analysis
The Wireless Router market is divided into six regions: North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa. The North American region is projected to dominate the global Wireless Router market. This is due to a growing interest in the Wireless Router business, as well as the presence of the tech giants of this market, which are driving up demand in this market. However, due to increased government support, Asia-Pacific is expected to outstrip all other areas by clocking the highest CAGR. As governments keep supporting the industry players with their initiatives, the market will see unprecedented growth. The Wireless Router business in Europe has been consistently growing. The Middle East is predicted to develop at the fastest rate. The increased demand for increased and faster online connectivity is one of the most important elements driving this growth. Latin America and Africa are expected to grow at a rapid pace.