High internet penetration, easy set up with low cost and surge in number of connected devices drive the growth of the global Wi-Fi range extender market.
PORTLAND, Ore., July 14, 2021 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Wi-Fi Range Extender Market by Product Type (Wi-Fi Extender, and Repeater) and Application (Residential and Commercial): Global Opportunity Analysis and Industry Forecast, 2021-2030". As per the report, the global Wi-Fi range extender industry was accounted for $1.25 billion in 2020, and is expected to reach $3.35 billion by 2030, growing at a CAGR of 10.8% from 2021 to 2030.
Drivers, restraints, and opportunities
High internet penetration, easy set up with low cost and surge in number of connected devices drive the growth of the global Wi-Fi range extender market. However, weak signal and low speed hamper the market growth. On the contrary, development of smart cities and smart homes is expected to open lucrative opportunities for the market growth.
The Covid-19 pandemic resulted in partial or complete shutdown of several manufacturing facilities that do not come under essential goods. Moreover, the prolonged lockdown in major countries disrupted the supply chain.
The social distancing norms and adoption of work from home culture increased the demand for Wi-Fi extenders in the residential sector.
The Wi-Fi extender segment held the largest share
By product type, the Wi-Fi extender segment held the largest share in 2020, accounting for around two-thirds of the global Wi-Fi range extender market, due to its large number of applications in the commercial and residential sectors. However, the repeater segment is expected to register the highest CAGR of 11.4% during the forecast period, owing to low cost of the product.
By application, the commercial segment held the lion's share in 2020, contributing to more than three-fifths of the global Wi-Fi range extender market, due to high adoption of Wi-Fi range extender in office premises, malls, shopping, and airports. However, the residential segment is estimated to manifest the highest CAGR of 11.4% from 2021 to 2030, due to high opportunities in smart home applications and surge in number of interconnected devices.
North America held the largest share
By region, the market across North America dominated in 2020, holding more than one-third of the market, due to rise in number of the internet connected devices and high internet penetration in the region. However, the global Wi-Fi range extender market across Asia-Pacific is projected to portray the highest CAGR of 12.1% during the forecast period, owing to surge in number of internet users in the region.
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