Router Market is set to reach a worth of USD 33.96 Billion by 2030, at a CAGR of 8.4%
Growing penetration of the bring-your-own-device policy among SMEs positively impacts the router market growth.
PORTLAND, PORTLAND, OR, UNITED STATE, April 18, 2023 /EINPresswire.com/ — According to the report published by Allied Market Research, the global router market generated $14.90 billion in 2020 and is estimated to reach $33.96 billion by 2030, witnessing a CAGR of 8.4% from 2021 to 2030. The report offers a detailed analysis of changing market dynamics, key investment pockets, top segments, value chain, regional scenario, and competitive landscape.
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An increase in demand for fast internet connectivity among consumers, surge in adoption of connected devices among the healthcare, education, and BFSI industries, and penetration of bring-your-own-device policy among the small and medium enterprises drive the growth of the global router market. However, the high implementation cost of wired router solutions and issues such as overheating and overloading hinder the market growth. On the other hand, supportive government initiatives such as smart city projects are expected to present new opportunities in the coming years.
List of companies profiled of the global router market analyzed in the research include ASUSTeK Computer Inc., Cisco Systems Inc., Belkin International Inc., Eero LLC., D-link Corporation, Netgear, Huawei Technologies Co., Ltd., TP link Technologies CO. LTd., Synology Inc., and Xiaomi.
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The report offers detailed segmentation of the global router market based on type, end-user, and region.
Based on type, the wireless segment accounted for the largest share in 2020, contributing to nearly two-thirds of the total share, and is estimated to maintain its leadership status during the forecast period. Moreover, this segment is expected to register the highest CAGR of 9.1% from 2021 to 2030. The report also analyzes the wired segment.
Based on end-user, the IT & telecom segment held the highest share in 2020, accounting for more than two-fifths of the global router market, and is estimated to maintain its dominant share during the forecast period. However, the healthcare segment is projected to witness the largest CAGR of 13.6% from 2021 to 2030.
Based on region, North America accounted for the highest share in 2020, holding more than one-third of the total share, and is estimated to maintain its lead position by 2030. However, Asia-Pacific is projected to portray the fastest CAGR of 10.9% during the forecast period.
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Covid-19 Scenario:
• The Covid-19 pandemic led to the requirement for robust network connectivity among individuals and surged adoption of different types of routers in various sectors such as education, BFSI, healthcare, and IT and telecom worldwide.
• The adoption of the “work from home” culture by several organizations increased the need for routers at home. However, there were hindrances in manufacturing facilities and supply chains due to lockdown measures taken by governments of different countries.
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