COVID-19 has acted as a significant market driver for the wireless router market for the past two years by increasing the demand for wireless routers tremendously. Wi-Fi router is a perfect example of high-speed data, which has enabled computers to communicate with each other without traditional cables. The expanding demand for faster internet connectivity among consumers has an increasing number for ecommerce transactions, web browsing, Mobile learning, and online-related activities. As a result, the wireless router has become a necessity for human life, which is widely used in laptops, computers, and tablets. Wi-Fi routers are majorly attributed to the increasing need among people to remain connected to reliable Internet and improve Wi-Fi connections across many countries. According to Renub Research, the Global Wireless Router Market is estimated to reach US$ 18.02 Billion by 2027.
There has been a rapid rise in active internet users worldwide (4.66 Billion) – as 59.5 percent of the global population. There are 4.32 billion unique mobile users worldwide, i.e. two-thirds of all the people on Earth now have a mobile phone. Social media adoption continues to accelerate; the technology landscape keeps changing, providing more ways for people to access the Internet.
By Product segment, the wireless router market is bifurcated into Single, Dual, Tri, and Others component. Dual-band is expected to witness lucrative growth owing to better speed and more extended range when it is compared to Single Band router. Dual-band routers support many modern hardware devices by providing more stability and coverage. Government across the globe has been significantly investing in developing network infrastructures that include the smart city. The supportive finance policies created by governments are likely to enhance markets for telecommunication equipment, information technology solutions and further paving the growth opportunity for wireless routers markets. Worldwide Wireless Router Industry will grow with a CAGR of 8.12% during 2021-2027.
Globally, the Asia Pacific region has witnessed several efforts and capital to enhance its wireless router services. The Chinese Government’s use of the “broadband China” national policy had incited the network equipment manufacturing industry, including wireless routers. The policies introduced by the Singapore government are expected to raise their broadband initiatives just as the ultra-high-speed broadband network Next-Generation High-Speed Broadband Network (NGHBN) telecommunication equipment markets. Which provide the development and deployment of innovative interactive digital services to several use-case scenarios, including home use. Thus, the expansion in the Government’s initiative towards facilitating the adoption of wireless communications is to provide various profitable opportunities for the wireless router market. Globally the WiFi Router Market was valued at US$ 10.43 Billion in 2020.
Impact of COVID-19 on Wireless Router Industry
Globally unprecedented growth has been noticed in demand for home Wi-Fi routers due to the ongoing Coronavirus pandemic. Most white-collar work has moved from office to home under work from home (WFH), becoming the new trend during the COVID-19 pandemic. In addition, most schools and colleges have moved into an online mode. These factors further stimulate the extension of the Wireless Router Market.
Company Initiative in Global WiFi Industry
The key features and support provided by all the major players like Cisco Systems, Inc., Netgear, MI, Huawei, and Xiaomi have focused on launching their cloud-based solutions for establishing a solid presence. For example, in 2020 - Netgear Inc. introduced 4G LTE ORBI Tri-band webs Wi-Fi router. ORBI 4G LTE combined with the existing wired service to create an internet connection backed up by 4G LTE in a wireline service disruption.
Renub Research Latest Report "Global wireless router market by Product (Single, Dual, Tri, Other) by End Users (BFSI, Government, IT & Telecom, Retails, Healthcare, Others) by Region (North America, Europe, Asia, South America, Middle East) by Company Analysis (Cisco Systems, Inc., Netgear, MI, Huawei, and Xiaomi)" studies the Worldwide Wireless Router Industry. The report also comprises qualitative factors such as drivers, restraints, and opportunities.
Product – Global Wireless Router Market has been covered from 4 viewpoints
End Users - Global Wireless Router Market has been covered from 6 viewpoints
1. Banking, Financial Services and Insurance (BFSI)
3. IT & Telecom
Region – Global Wireless Router Market has been covered from 5 viewpoints
1. North America
4. South America
5. Middle East
Company Insights: Global Wireless Router Market has been covered from 3 viewpoints
- Company Initiatives
- Sales Analysis
Company Analysis: Global Wireless Router Market has been covered from 5 viewpoints
1. Cisco Systems Inc.