A router is a physical or virtual appliance that helps organizations to transfer information such as files and communications data between two or more switched computer networks. It identifies a given data packet's destination address and calculates the better way for the information to reach its destination through the internet. Router technology allows the business to connect their employees securely for collecting business information, which accelerates the growth of the market globally. In addition, increase in adoption of routers among customers due to the growing need to protect personal information by integrating embedded firewall and content filtering software in the router, propels the growth of the global router market.
Growth in penetration of bring-your-own-device policy among the small & medium-sized enterprises and increase in demand for faster internet connectivity technology among consumers are some of the important factors that boost the global router market across the globe. In addition, rise in adoption of connected devices among the healthcare, education and BFSI industry positively impacts the growth of the market. However, factors such as the high implementation cost of wireless router solutions and overheating and overloading of router technology are expected to hamper the market growth. On the contrary, increase in government initiatives for smart city projects is expected to provide lucrative opportunity to boost the growth of the market around the world.
The global router market is segmented on the basis of type, end user, and region. By type, the market is bifurcated into wired and wireless. By end user, it is categorized as BFSI, IT & telecom, education, healthcare, and others. As per region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players profiled in the router market analysis are Asustek Computer Inc., Belkin International Inc., Cisco systems Inc., D-Link Corporation, Eero LLC, Huawei Technologies Co., Ltd., Netgear, Synology Inc., TP link Technologies Co. Ltd., and Xiaomi. These players have adopted various strategies, including partnership, collaboration, product launch, and developments to increase their market penetration and strengthen their position in the industry.
Growth in penetration of bring-your-own-device policy among the small & medium-sized enterprises and increase in demand for faster internet connectivity technology among consumers are some of the important factors that boost the global router market across the globe. In addition, rise in adoption of connected devices among the healthcare, education and BFSI industry positively impacts the growth of the market. However, factors such as the high implementation cost of wireless router solutions and overheating and overloading of router technology are expected to hamper the market growth. On the contrary, increase in government initiatives for smart city projects is expected to provide lucrative opportunity to boost the growth of the market around the world.
The global router market is segmented on the basis of type, end user, and region. By type, the market is bifurcated into wired and wireless. By end user, it is categorized as BFSI, IT & telecom, education, healthcare, and others. As per region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players profiled in the router market analysis are Asustek Computer Inc., Belkin International Inc., Cisco systems Inc., D-Link Corporation, Eero LLC, Huawei Technologies Co., Ltd., Netgear, Synology Inc., TP link Technologies Co. Ltd., and Xiaomi. These players have adopted various strategies, including partnership, collaboration, product launch, and developments to increase their market penetration and strengthen their position in the industry.
Key Benefits For Stakeholders
- The study provides an in-depth analysis of the global router market forecast along with the current and future trends to explain the imminent investment pockets.
- Information about key drivers, restraints, and opportunities and their impact analysis on global router market trend is provided in the report.
- The Porter’s five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
- The quantitative analysis of the market from 2022 to 2031 is provided to determine the market potential.
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Key Market Segments
By Type
- Wired
- Wireless
- Wireless Type
- Single
- Dual
- Tri
By End User
- BFSI
- IT and Telecom
- Education
- Healthcare
- Others
By Region
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
- Key Market Players
- D-Link Corporation
- Belkin
- Huawei Technologies Co. Ltd.
- Xiaomi
- NETGEAR
- AsusTek Computer Inc.
- TP-Link Corporation Limited
- Cisco Systems, Inc.
- EERO LLC
- Synology Inc.
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: ROUTER MARKET, BY TYPE
CHAPTER 5: ROUTER MARKET, BY END USER
CHAPTER 6: ROUTER MARKET, BY REGION
CHAPTER 7: COMPETITIVE LANDSCAPE
CHAPTER 8: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report, the router market was valued at $19.6 billion in 2022, and is estimated to reach $44.4 billion by 2032, growing at a CAGR of 8.8% from 2023 to 2032.The Router Market is likely to experience a significant growth rate of % fr8.8om 2023-2032 owing to increasing digitization, rising uptake of the Internet of Things technology, and transition of companies.
A router is a network connected device that connects two or more packet-switched networks to transfer data between computer systems. It is used to manage data traffic between computer networks by means of sending data packets to their anticipated IP addresses and permitting multiple devices to use the same internet connection. In addition, routers are developed for facilitating organization to transfer data between local area networks (LANs) and wide area networks (WAN) in specific regions. Furthermore, router is the robust way to use and prioritize a large collection of security data by keeping immediate information to the organizations. A Wi-Fi router connects a wireless access point and a router. The function of a router is to connect a local connection to another local connection or from a local connection to the Internet. A wireless connection connects wirelessly to networks using radio frequencies in the 900 MHz, 2.4 GHz, 3.6 GHz, 5 GHz, and 60 GHz. The latest Routers are based on IEEE 802.11 ac Wave 2 standard. Wireless Router is also known as wireless LAN.
Key factors driving the growth of the router market increase in demand for faster internet connectivity technology among consumers, rise in adoption of connected device among the healthcare, education and BFSI industry, and rise in penetration of the bring-your-own-device policy among the small & medium-sized enterprises (SMEs). The rising application of the bring-your-own-device (BYOD) policy, and acceptance of work-from-home models in numerous organizations has resulted in the growing use of smartphones and laptops/desktops for official purposes, which is expected to strengthen the demand for the router market. Many organizations and institutions are using wireless routers to provide various network-related services to their workforce. In addition, most organizations across the U.S. and Canada, followed by developing economies, such as China and India, are allowing the use of personal devices for office work. Therefore, routers gained wider traction among end-users, such as enterprises and residential consumers, which in turn, contributes to robust market growth.
The market also offers growth opportunities to the key players in the market. The increase in penetration of smart cities across developing nations, such as China, Japan, and India, to deliver core infrastructure, clean and sustainable environment, and give a decent quality of life to their citizens is expected to provide lucrative opportunities to boost the growth of the market during the upcoming years. In addition, an increase in investment by the government into the smart city project to streamline IoT and digital network connectivity devices, enabling real-time data processing and analytics.
For instance, in June 2021, India expanded its smart city projects and new-age practices to 4,000 cities with a population of 500,000. The smart cities' mission is to promote economic growth and enhance people's quality of life by facilitating local area development and utilizing technology. Such strategic initiatives are providing novel opportunities to boost the market growth during the forecast period.
The global router market is segmented on the basis of type, end user, and region. By type, the market is bifurcated into wired and wireless. By end user, it is categorized as BFSI, IT & telecom, education, healthcare, and others. Region wise, it is analyzed across North America (the U.S., Canada), Europe (the UK, Germany, France, Spain, Italy, and rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East and Africa).
The key players profiled in the study Asustek Computer Inc., Belkin International Inc., Cisco systems Inc., D-Link Corporation, Eero LLC, Huawei Technologies Co., Ltd., Netgear, Synology Inc., TP link Technologies Co. Ltd., and Xiaomi. The players in the market have been actively engaged in the adoption various strategies such as acquisition, and partnership to remain competitive and gain advantage over the competitors in the market. For instance, in December 2022, Xiaomi launched 10 Gigabit Router, designed to be paired with the latest Xiaomi phones to deliver the best connectivity experience.
Key Market Insights
By type, the wired segment was the highest revenue contributor to the market, and is estimated to reach $11.46 billion by 2032, with a CAGR of 6.3%. However, the wireless segment is estimated to be the fastest growing segment with the CAGR of 9.8% during the forecast period.By end user, the mobile BFSI segment dominated the global market, and is estimated to reach $14.22 billion by 2032, with a CAGR of 7.1%. However, the healthcare segment is expected to be the fastest growing segment with the CAGR 13.5% during the Router Market Forecast.
Based on region, Asia-Pacific was the highest revenue contributor, accounting for $4.98 billion in 2022, and is estimated to reach $13.92 billion by 2032, with a CAGR of 11.1%.
Companies Mentioned
- D-Link Corporation
- Belkin
- Huawei Technologies Co. Ltd.
- Xiaomi
- NETGEAR
- AsusTek Computer Inc.
- TP-Link Corporation Limited
- Cisco Systems, Inc.
- EERO LLC
- Synology Inc.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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