Router Market to Reach $44.4 Billion, Globally, by 2032 at 8.8% CAGR: Allied Market Research

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Oct 31, 2023, 03:08 ET

The router market is driven by growth in penetration of bring-your-own-device policy among the small & medium-sized enterprises, increase in demand for faster internet connectivity technology among consumers, and rise in adoption of connected devices among the healthcare, education and BFSI industry

NEW CASTLE, Del., Oct. 31, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Router Market by Type (Wired, and Wireless), and End User (BFSI, IT & Telecom, Education, Healthcare, and Others): Global Opportunity Analysis and Industry Forecast, 2023-2032". 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, exhibiting a CAGR of 8.8% from 2023 to 2032.

Router is a device that is used for communicating and exchanging data between the internet server and the devices in your home by connecting to the internet. There are two common types of routers - wired and wireless.

Prime determinants of growth

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.

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Report coverage & details:

Report Coverage	Details
Forecast Period	2023–2032
Base Year	2022
Market Size in 2022	$19.6 Billion in 2022
Market Size in 2032	$44.4 Billion by 2032
CAGR	8.8 %
No. of Pages in Report	239
Segments covered	Type, End User, and Region.
Drivers	Increase in demand for faster internet connectivity technology among consumers. Rise in the adoption of connected devices in the healthcare, education, and BFSI industry. Growth in penetration of bring-your-own-device policy among the SMEs.
Opportunities	Government initiatives for smart city projects
Restraints	High implementation cost of wired router solutions Overheating and overloading of router technology

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The wireless segment to maintain its leadership status throughout the forecast period.

Based on the type, the wired segment held the highest market share in 2022, accounting for more than two-thirds of the global router market revenue, owing to the increased usage of wireless router in small businesses and residential applications. This segment is projected to manifest the highest CAGR of 9.8% from 2023 to 2032, owing to increase in utilization of smart devices, such as smartphones and tablets, along with rise in the availability of affordable wireless routing services.

The BFSI segment to maintain its leadership status throughout the forecast period

Based on end user, the BFSI segment held the highest market share in 2022, accounting for nearly two-fifths of the global router market revenue, owing to increase in demand for personalization and self-service on services and products. However, the healthcare segment is projected to manifest the highest CAGR of 13.5% from 2023 to 2032, owing to the need to promote real-time patient monitoring in healthcare organizations, as well as growth in investment and funding in the field of telehealth and telemedicine, which foster the adoption of the router market in the healthcare segment.

Asia-Pacific maintain its dominance by 2032

Based on region, North America held the highest market share in terms of revenue in 2022, accounting for nearly two-fifths of the global router market revenue, owing to increase in demand for colocation data centers among SMEs and rise in adoption of machine-to-machine (M2M) communication, further contributing to the market growth within the region. However, the Asia-Pacific region is expected to witness the fastest CAGR of 11.1% from 2023 to 2032 and is likely to dominate the market during the forecast period, owing to the surge in government projects for smart city development coupled with surge in need to monitor network violations and offences in this region.

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Leading Market Players: -

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.,
Xiaomi

The report provides a detailed analysis of these key players of the global Router market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

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