The most recent study conducted by Report Ocean, titled “Global Wireless Router Market Size, Share, Pricing, Trends, Growth, Report and Forecast 2023-2030,” presents a comprehensive analysis of the worldwide market. This research delves into the factors driving the market, emerging trends, opportunities for development, as well as potential limitations that may affect the Wireless Router. The report provides an estimation of the global market size and examines recent strategic actions taken by prominent international competitors.
A wireless router is a device used by the internet service providers to connect their internet connectivity with the router and also performs the functions of a wireless access point. It is used to offer access to private computers or internet networks. The wireless router links a local connection to another local connection with the internet. The advent of IoT, increasing consumer demand for internet-enabled devices, rising need for bandwidth enterprises owing to digitization are the primary factors that are surging the market demand across the globe. For instance, according to Statista, in 2019, the total number of Internet of Things (IoT) connected devices was recorded at 7.6 billion, which are enabled with short-range technologies like Bluetooth and WiFi. Also, the amount is projected to increase at reached to 24.1 billion by 2030 around the world.
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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
Consequentially, the rising demand for IoT-connected devices is bolstering the demand for wireless routers, thus, in turn, fueling the market growth in the impending years. However, rising network security and complexities related to network management and growing usage of mobile broadband impede the growth of the market over the forecast period of 2022-2028. Also, the increasing internet traffic and growth of the emerging market is anticipated to act as a catalyzing factor for the market demand during the forecast period.
The key regions considered for the global Wireless Router market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading region across the world in terms of market share owing to the high adoption of novel technologies and the growing trend of penetrating smart homes facilities in the region. Whereas, Asia-Pacific is anticipated to exhibit the highest CAGR over the forecast period 2022-2028. Factors such as the surging demand for IoT-enabled devices, as well as growth of the emerging countries such as India and China, would create lucrative growth prospects for the Wireless Router market across the Asia-Pacific region.
Major market players included in this report are:
D-Link Corporation
Belkin International Inc.
TP-Link Technologies Co. Limited
Netgear Inc.
Huawei Technologies Co. Limited
ASUSTeK Computer Inc.
Xiaomi Inc.
Mercury-PC
Edimax Technology Co. Limited
Cisco Systems Inc.
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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Wifi Band
Single Band
Dual Band
Tri Band
By End-Users
BFSI
Education
Healthcare
Media and Entertainment
Other End Users
By Region:
North America
U.S.
Canada
Europe
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UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Russia-Ukraine War on Market
The market is anticipated to suffer because of the Russia-Ukraine War. The demand for the market has decreased as a result of the political unrest and economic unrest in the area. The war had a detrimental impact on global economic activity, adding to inflationary pressures globally and hindering the post-pandemic recovery, even if it was not the primary cause of the slower-than-anticipated economic growth in 2022 and revised estimates for 2023.
The Five Forces analysis examines the following factors:
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
The PESTLE analysis takes into account the following dimensions:
- Political factors: This includes political policies, stability, and factors related to trade, fiscal policies, and taxation policies.
- Economic factors: This involves analyzing interest rates, employment or unemployment rates, raw material costs, and foreign exchange rates.
- Social factors: These encompass changing family demographics, education levels, cultural trends, shifts in attitudes, and changes in lifestyles.
- Technological factors: This examines changes in digital or mobile technology, automation, and research and development in the relevant industry.
- Legal factors: This entails analyzing employment legislation, consumer law, health and safety regulations, as well as international trade regulations and restrictions.
- Environmental factors: This dimension considers aspects such as climate change, recycling procedures, carbon footprint, waste disposal, and sustainability practices.
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