New Coronavirus Strains Create Steady Demand for Routers during COVID-19 Pandemic
There has been an unprecedented growth in the demand for home Wi-Fi routers and extenders due to the onset of the COVID-19 (coronavirus) pandemic. Even corporates and small businesses are investing in reliable Wi-Fi extenders to maintain social distancing and remote working environments. Companies in the home Wi-Fi router and extender market are benefitting due to online schooling and work from home policies of business organizations.
New coronavirus strains are creating health concerns among individuals. This has delayed reopening of schools, educational institutes, and commercial organizations. Such trends are creating revenue opportunities for companies in the home Wi-Fi router and extender market. The increased use of smartphones, tablets, and laptops has led to the demand for high bandwidth connections, resulting in more purchases for routers.
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Knowledge Sharing Gains Emphasis to Offer Customer Satisfaction Post Sales
The home Wi-Fi router and extender market is predicted to register a favorable CAGR of ~7% during the forecast period. However, home networking can be potentially challenging, since many Wi-Fi routers lack the capability to evenly distribute network throughout the house. This is when companies such as NETGEAR— a networking hardware company, step in to offer their Orbi Mesh Wi-Fi series that are capable of overcoming issues about video transmission, signal drop, and slow Internet connection.
Apart from supplying reliable Wi-Fi systems, companies in the home Wi-Fi router and extender market are focusing on knowledge sharing via online news outlets about how customers can troubleshoot Wi-Fi issues while sitting at home.
New Technologies Help Maintain Throughput While Moving Between 5G and Wi-Fi 6
It has been found that the male population on a global level is relatively more tech-savvy than the female population. Hence, companies in the home Wi-Fi router and extender market are introducing systems that have more easy-to-use features to cater to the needs of women. This explains why the home Wi-Fi router and extender market is projected to reach the revenue mark of US$ 18 Bn by the end of 2030.
New products such as Nokia’s Wi-Fi mesh router technology caters to the fast growing 5G world. Manufacturers are increasing the availability of systems that deliver a seamless transition for mobile devices, moving between 5G and Wi-Fi 6 to maintain network connectivity throughput.
Google Assistant and Amazon Alexa Integration Intensifies Market Competition
Easy set up and management of home Wi-Fi routers and extenders are being preferred by individuals, especially the female population. D-Link Corporation— a Taiwanese multinational networking equipment manufacturing company is capitalizing on this opportunity to introduce its SMART line of Wi-Fi Routers, which provide powerful AC Wi-Fi speeds and advanced customization features to meet specific needs of individuals.
The integration of novel innovations such as Google Assistant and Amazon Alexa have intensified competition in the home Wi-Fi router and extender market. Enhanced parental controls and affordable network coverage features in systems are driving sales in the home Wi-Fi router and extender market. Smart routers with mesh technology are creating single and personalized home network when paired with extenders.
Affordable and Easy Mesh Technology Overcomes Traditional Issues of Wi-Fi Networks
The online comparison of home Wi-Fi routers and extenders is building the credibility of manufacturers. Issues of a clogged home Wi-Fi network have fueled the popularity of the mesh technology. Mesh Wi-Fi network is being highly publicized for being easy, affordable, and less complex during installation. Such trends are creating value grab opportunities for companies in the home Wi-Fi router and extender market.
Suppliers in the home Wi-Fi router and extender market are expanding their business via online sales of self-installed and configurable mesh Wi-Fi systems. They are mainly focusing on developing mobile apps that assist individuals in installation.
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Home Wi-Fi Router and Extender Market: Overview
- According to Transparency Market Research’s latest research report on the global home Wi-Fi router and extender market for the historical period 2018–2019 and the forecast period 2024–2030, the market is anticipated to reach value of US$ 18 Bn by 2030, expanding at a CAGR of ~7% during the forecast period
- Rapid developments in the communication technology have led to increase in Internet and mobile Internet penetration rate as well as enhancement of connectivity and speed of the Internet. Globally, the total number of Internet users is projected to grow from 3.9 billion in 2018 to 5.3 billion by 2024 at a CAGR of 6%.
- In terms of population, this represents 51% of the global population in 2018 and 66% of the global population by 2024. This factor propels the home Wi-Fi router and extender market. As a result, home Wi-Fi router and extender manufacturers have been expanding their product range and protocols that can adapt to variable demands, thus providing numerous opportunities to the home Wi-Fi router and extender market.
- During the forecast period, Asia Pacific is anticipated to emerge as a leading home Wi-Fi router and extender market, followed by Europe and North America
