Wireless Router Market Size, Share, Growth, and Industry Growth by Type (Single Band Wireless Routers, Dual Band Wireless Routers and Tri Band Wireless Routers) By Application (Family or Individual Consumer and Business), Regional Insights, and Forecast To 2031

Updated On: 08 April 2024

Wireless Router Market REPORT OVERVIEW

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The global wireless router market size was USD 2973.8 million in 2022 and market is projected to touch USD 6282.1 million by 2031, exhibiting a compound annual growth rate (CAGR) of 7.7% during the forecast period.

Internet service providers link their internet access to the router via wireless routers. They are pieces of hardware that attach to the cable or xDSL Internet networks. A wireless access point and a router are joined by a Wi-Fi router. A router's job is to link a local connection to another local connection or to the Internet from a local connection. A wireless connection uses radio frequencies in the 900 MHz, 2.4 GHz, 3.6 GHz, 5 GHz, and 60 GHz to connect wirelessly to networks. On the IEEE 802.11 ac Wave 2 standard, the most recent routers are based. Wireless LAN is another name for a wireless router.

COVID-19 Impact: Work From Home Led to Market’s Demand

Due to the COVID-19 pandemic's recent outbreak, the router industry has experienced tremendous growth in recent years and is predicted to continue growing. This might be linked to the increased demand for wireless routers among businesses to better meet the internet requirements of their employees. Additionally, as more companies provide work-from-home opportunities in an effort to combat the COVID-19 epidemic, people are becoming more dependent on high-speed internet access, which is fueling the market's expansion. Additionally, the COVID-19 pandemic is anticipated to spur expansion in a number of industrial automation sectors, including manufacturing, healthcare, oil and gas, retail and e-commerce, and manufacturing. This will enhance demand for industrial routers technology.

LATEST TRENDS

"Healthcare Industry’s Growing Demands to Push the Market"

In 2020, IT & telecom held the majority of the wireless router market because to the increasing adoption of wireless routers by IT firms to receive and send information to employees and consumers over the internet at a quicker speed with increased security. However, the healthcare sector is anticipated to develop at the fastest pace over the course of the projection period due to a rise in the demand for high-speed internet access within the healthcare industry to analyze large amounts of electronic medical information.

Wireless Router Market Segmentation

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• By Type Analysis

By type, market is segmented into single band wireless routers, dual band wireless routers and tri band wireless routers. The single bandwidth wireless router segment will dominate the market in the coming years.

• By Application Analysis

Based on applications, the market is classified into family or individual consumer and business. The family or individual consumer segment will lead the global share through 2031.

DRIVING FACTORS

"Growing Usage of Internet Through Digital Gadgets to Augment the Market"

People are requesting an increasing number of digital gadgets, such as smartphones, laptops, desktop computers, tablets, and smart TVs, as a result of technological improvement. In order to connect to the enormous array of Servers, all of these devices require Internet connectivity. Nowadays, a lot of people use the internet. One of the most important market drivers for this technology is the growing usage of the Internet through digital gadgets.

These days, people prefer connections that are smooth and produce faster outcomes. The speed of the connections between the Interservice providers is increasing as a result. Each new generation of connection is being introduced at a faster rate than the one before it. The expanding range of wireless connections speeds up the effect of connection speed even further. Taking into account these two elements together, another significant market driver is created.

"Increasing Use of Connected Devices to Boost the Market Demand"

Global market expansion is being driven by an increase in the usage of connected healthcare devices among healthcare professionals, such as heart-rate monitors and remote patient monitoring devices. The linked medical device also enables healthcare professionals to concentrate on active patient involvement and give care that is centered on the needs of the patient. Since these services depend on fast internet communication between patients and doctors, the industry is expanding as a result.

Digital technology also assists the education system in achieving a number of goals, including providing quality educational services, fostering more student-teacher cooperation, and raising student achievement, all of which contribute to the market's expansion. The majority of kids in the United States and Canada have been utilizing smartphones due to the numerous benefits they provide, including the ability to learn new skills and technologies as well as improve their knowledge and stay in touch with their parents in case of an emergency. In order to meet consumer expectations, the healthcare, education, and BFSI industries are increasingly using connected devices, which is a key driver driving the worldwide wireless router market.

RESTRAINING FACTORS

"Serious Risks of Hacking to Hinder the Market Growth"

Manufacturing firms' top priorities revolve around connectivity and successful distribution. Demand for wireless infrastructure is projected to be fueled by technological development and new product development. The design and implementation of such infrastructure, connectivity problems, and a delay in standardization are some of the key difficulties that limit industry expansion. Large-scale, rapid wireless network expansion generates serious worries about network security and data privacy that impede the market's expansion. Furthermore, barriers like gates, walls, and people might interfere with wireless signals during transmission. These barriers cause poor communication, and occasionally they might cause wireless communication to stop working altogether.

Wireless Router Market REGIONAL INSIGHTS

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"North America to Grow Rapidly within the Forecast Period"

The North American market for wireless routers held the regional lead in 2020 and is anticipated to continue doing so over the next years. This may be ascribed to a growth in the use of digital technology across several areas, including BFSI, education, and healthcare, as well as to the region's expanding use of cloud-based technology. However, the government and public sectors are expected to have an increased need to monitor network violations and offenses during the forecast period, as these two sectors are responsible for the majority of cyber-attacks. As a result, Asia Pacific is predicted to experience a significant growth rate during this time.

KEY INDUSTRY PLAYERS

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead in the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolio.

List of Market Players Profiled

• TP-LINK (China)
• D-Link (China)
• Cisco (U.S.)
• Tenda (China)
• Belkin (Linksys) (U.S.)
• NETCORE Group (qihoo 360) (China)
• MERCURY (U.S.)
• Netgear (U.S.)
• FAST (U.S.)
• Buffalo (U.S.)
• Amped (New Zealand)
• Edimax (China)
• Asus (China)
• Huawei (China)
• Xiaomi (China)
• HiWiFi (China)

REPORT COVERAGE

The market research study examines the worldwide market in detail, focusing on important elements such as leading players, product/services or type, and leading end-use applications. Aside from that, the research analyses major advancements and provides insights into lighting market trends. In addition to the causes indicated above, the paper includes a number of other factors that have contributed to recent growth.