The global Wi-Fi home gateway market is set to grow by 14.6 per cent over the forecast period.
The market for Wi-Fi home gateways is growing rapidly as a result of the huge increase in high-speed internet requirements worldwide. The Wi-Fi market is valued at more than US$ 5.0 billion in 2018 and is growing at an annual growth rate of more than 16 per cent. The Wi-Fi home gateway device is a device that performs the functions of a router and a modem. Growing smart consumer electronic devices worldwide is the main driver of growth for the Wi-Fi home gateway market. The Wi-Fi home gateway can work on the wireless LAN, the wired LAN, and both. Wi-Fi home gateway devices are used to provide different devices with access to the internet. It is also used to reduce network traffic and for possible communication in dissimilar environments. We, therefore, expect the Wi-Fi home gateway market to show tremendous growth throughout the forecast period.
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On the basis of the application, the Wi-Fi home gateway market is led by the home office, with the segment accounting for more than 50 per cent of the market revenue in 2018. Home Office using segment has the largest share due to the growing adoption of smart devices at home and in the workplace. Due to the various advantages of Wi-Fi home gateways, such as multiple device access, lower support costs and high bandwidth rates, these devices are most likely to be used for home office use. The high growth of the smart home market and the increasing penetration of the internet in homes worldwide are some of the main growth factors for the segment. As a result, we expect the segment to show significant growth during the forecast period.
Based on the geography, North America was the largest revenue contributor to the Wi-Fi home gateway market. North America accounted for more than 1/3 of the market in 2018 due to the high level of adoption of smart devices in the region. Asia Pacific will be the fastest-growing region in the Wi-Fi home gateway market during the forecast period due to rising disposable incomes and the growing adoption of smart devices in the region. China and India will be the biggest contributors to Asia-Pacific growth due to growing internet penetration and rising urbanization. As a result of these factors, we expect Asia Pacific to show tremendous growth in the Wi-Fi home gateway market over the 2019-2027 forecast period.
Some of the major companies included in the report include TP-Link Technologies Co., Ltd., D-Link Corporation, Tenda Technology Inc., NETGEAR Inc., AsusTek Computer Inc., Huawei Technologies Co., Ltd., Qihoo 360 Technology Co. Ltd., Xiaomi Corporation, and others.Access sample: https://www.credenceresearch.com/sample-request/59988