Global Smart Router Market is set to Grow at a CAGR of 4.8% Over the Forecast Period (2019 - 2027), Because of Rising Demand for Products That are Relatively Secure and Efficient: Says Absolute Markets Insights
- Global Smart Router Market was valued at US$ 7,834.33 million in 2018 and is expected to reach US$ 11,946.59 million by 2027, growing at an estimated CAGR of 4.8% over the forecast period
PUNE, India, March 5, 2020 /PRNewswire/ -- Smart routers are being used in smart homes as well as across various industries. However, the kind of products marketed to both these segment of customers vary in terms of their functionality, price and features. As adoption of IoT is rising across industries, smart routers are being increasingly used. These routers serve the connectivity, speed as well as security requirements of industrial as well as residential users. Adoption of Internet of Things (IoT) is on the rise owing to the growing need for real time process management, asset and inventory management. All these factors will collectively contribute to the demand of smart routers. Factors anticipated to influence the growth of Internet of Things sector worldwide are the growing trend for web-enabled appliances and the rising need for web connectivity. Market participants have launched smart routers that comply with WiFi 6 standard. These routers are relatively more secure and offer higher speeds. The Smart Router Market is competitive with presence of large sized global players including TP-Link, D-Link Corporation, Cisco Systems, Inc., Xiaomi Corporation, Huawei Technologies Co., Ltd. and others. Companies have primarily been competing based on functionalities such as speed, smarter control (app controlled), as well as data security.
A significant growth driver for smart router market is the volatile growth of the internet industry, demand for mobility, and deployment of smart devices such as smart phones, tablets and smart TV. Moreover, demand for faster internet and an increased wireless network range drives the growth of this market. One of the prominent factor restraining the market growth is concerns pertaining to data security. In order to overcome the same, companies active in this market are investing in development of solutions that are less prone to various cyber threats.
Global Smart Router Market was valued at US$ 7,834.33 million in 2018 and is expected to reach US$ 11,946.59 million by 2027, growing at an estimated CAGR of 4.8% over the forecast period.
The detailed research study provides qualitative and quantitative analysis of smart router market. The market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across regions and further across all the major countries. The supply side analysis covers the major market players and their regional and global presence and strategies. The geographical analysis done emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East & Africa and Latin America.
The smart router market is dominated by residential users. This segment is anticipated to expand significantly, with demand for routers for various entertainment and gaming purposes.
The North America dominates this market with the United States being the prominent market. The country has a significant demand for high priced products targeted to smart home applications, gamers as well as commercial users.
During the forecast period, advanced routers based on WiFi 6 technology will gain adoption as they are relatively more secure as well as offer better speed.
Some of the leading manufacturers in the smart router market are TP-Link, D-Link Corporation, Cisco Systems, Inc., Xiaomi Corporation, Allied Telesis Holdings K.K., Huawei Technologies Co., Ltd., Hewlett-Packard, ADTRAN, Inc., Enterasys Networks, Inc., Verizon, AsusTek Computer Inc., Edimax Technology Co., Ltd., and Netgear Inc. among others.
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