Wireless Router Market Size to Grow USD 5028.7 Million by 2029 at a CAGR of 7.7% | Valuates Reports
BANGALORE, India, Dec. 20, 2023 /PRNewswire/ -- Wireless Router Market is Segmented by Type (Single Band Wireless Routers, Dual Band Wireless Routers, Tri Band Wireless Routers), by Application (Family or Individual Consumer, Business): Global Opportunity Analysis and Industry Forecast, 2023-2029. It is Published in Valuates Reports Under the Category of Networking.
The global Wireless Router market size is expected to reach USD 5028.7 Million by 2029, growing at a CAGR of 7.7% from 2023 to 2029.
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Major Factors Driving the Growth of Wireless Router Market
The growing need for high-speed internet access and seamless connection around the globe is propelling the fast expansion of the wireless router market. The market is growing as a result of several factors, including the rise in remote work and learning, the Internet of Things (IoT), the spread of smart devices, the popularity of online gaming and streaming services, increased security and privacy concerns, the impact of edge computing and decentralized networks, the integration of 5G technology, and fierce competition in the market with a focus on technological innovation.
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TRENDS INFLUENCING THE GROWTH OF WIRELESS ROUTER MARKET:
The desire for seamless connection and the global spike in internet adoption is driving the strong expansion of the wireless router market. An increasing number of homes and organizations are embracing digital lives, making effective and fast wireless communication essential. In order to fulfill this demand, wireless routers are essential since they allow customers to connect many devices wirelessly and provide a dependable internet experience.
One of the main factors propelling the growth of the wireless router market is the development of smart devices and the Internet of Things (IoT). Customers are depending more and more on wireless connectivity as they incorporate a wide range of wearables, smart home appliances, and Internet of Things gadgets into their everyday lives.
Strong wireless connectivity is more important than ever because of the paradigm change towards remote work and online learning, which has been expedited by major world events like the COVID-19 pandemic. The demand for sophisticated wireless routers that can manage the rising data traffic and offer seamless access for a variety of activities is growing as more people and businesses rely on home networks to enable remote work and virtual learning.
The growing need for higher bandwidth that comes with online gaming and streaming services is driving the expansion of the wireless router market. Low latency, fast connections, and routers that can provide a consistent and lag-free experience are necessities for gamers and content streams.
The Wireless Router Market is being influenced by the emergence of edge computing and the shift towards decentralized network designs. By processing data closer to the source, edge computing lowers latency and improves network performance overall. In order to enable these distributed computing models and promote the development of edge computing applications and decentralized networks, wireless routers are essential.
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WIRELESS ROUTER MARKET SHARE ANALYSIS
With a market share of almost 60%, China is the largest market.
The leading manufacturers of wireless routers worldwide include D-Link, TP-LINK, Belkin (Linksys), Netgear, Xiaomi, and others. Over 60% of all manufacturers worldwide are in the top five.
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Key Players:
- TP-Link
- D-Link
- Cisco
- Tenda
- Belkin (Linksys)
- NETCORE Group(qihoo 360)
- MERCURY
- FAST
- Buffalo
- Amped
- Edimax
- ASUS
- Huawei
- HiWiFi
- Xiaomi
- Netgear
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DISCOVER MORE INSIGHTS: EXPLORE SIMILAR REPORTS!
- Single Band Wireless Router market is projected to reach USD 4541.4 million in 2029, increasing from USD 2700 million in 2022, with the CAGR of 7.7% during the period of 2023 to 2029.
- Home Wireless Router market is projected to reach USD 11060 million in 2029, increasing from USD 8328.5 million in 2022, with the CAGR of 4.2% during the period of 2023 to 2029.
- Enterprise Wireless Router Market
- Router market size is expected to reach USD 24650 million by 2029, growing at a CAGR of 3.6% from 2023 to 2029.
- Commercial Router market size is expected to reach USD 7647.4 million by 2029, growing at a CAGR of 4.2% from 2023 to 2029.
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- WiFi Home Router market size was USD 3271 Million and it is expected to reach USD 4336 million by the end of 2027, with a CAGR of 4.1%.
- Virtual Router market size is projected to reach USD 595.8 Million by 2027, from USD 159.5 Million in 2020, at a CAGR of 20.7%.
- Bluetooth Headphones market is projected to reach USD 46360 million in 2029, increasing from USD 21180 million in 2022, with the CAGR of 11.7%.
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