The wireless router market size is projected to reach US$ 31.25 billion by 2031 from US$ 15.64 billion in 2023. The market is expected to register a CAGR of 9.04 % in 2023—2031. The growing need for high-speed internet and smart home gadgets are likely to remain key wireless router market trends.
The wireless router market is growing at a rapid pace as a result of the growing need for high-speed internet, increase in online working and distant work, expansion of 5g infrastructure, growth in internet penetration, etc. Moreover, rapid digital transformation amongst end-user verticals and increasing resilience on wifi systems are providing lucrative opportunities for market growth.
One of the most well-known features of wireless routers is the integration of wireless access points for private computer networks or the Internet. Depending on the manufacturer and kind, wireless routers can be used on a hybrid wired and wireless network, a wired local area network, or a wireless-only LAN. The market for wireless routers is expanding swiftly and is probably going to continue doing so in the next years.
The need for internet access, the availability and affordability of smartphones, the decreased cost of technology per megabyte of data, and the absence of fixed-line access in some developing countries are some of the reasons that, when combined, are propelling mobile broadband connectivity globally. Furthermore, roughly 93% of smartphone users say they use their devices primarily at home, according to a study conducted by industry behemoth Google, Inc. As a result, the market is seeing significant technological advancement due to the increased traction among industry participants brought about by the increasing adoption of mobile broadband. The market for mobile broadband is anticipated to rise, which should positively affect the market for wireless routers year over year.
A surge in the use of connected healthcare devices among healthcare professionals, such as heart-remote patient monitoring devices and rate monitors, is driving global market expansion. The linked medical device also enables healthcare professionals to concentrate on active patient involvement and give care that is centered on the needs of the patient. Since these services depend on fast internet communication between patients and doctors, the industry is expanding as a result.
Key segments that contributed to the derivation of the wireless router market analysis are standard, band, application, and end-use.
The geographic scope of the wireless router market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America. North America has dominated the wireless router market. High technology adoption trends in various industries in the North American region have fuelled the growth of the wireless router market. Factors such as increased adoption of digital tools and high technological spending by government agencies are expected to drive the North American wireless router market growth. Moreover, a strong emphasis on research and development in the developed economies of the US and Canada is forcing the North American players to bring technologically advanced solutions into the market. In addition, the US has a large number of wireless router market players who have been increasingly focusing on developing innovative solutions. All these factors contribute to the region's growth of the wireless router market.
The regional trends and factors influencing the Wireless Router Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Wireless Router Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 15.64 billion |
| Market Size by 2031 | US$ 31.25 billion |
| Global CAGR (2023 - 2031) | 9.04 % |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Standard
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Wireless Router Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Wireless Router Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The wireless router market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market:
(Source: Acer, Press Release, 2024)
(Source: Charter Communications, Inc, Press Release, 2023)
The "Wireless Router Market Size and Forecast (2021–2031)" report provides a detailed analysis of the market covering below areas:
The global wireless router market was estimated to be US$ 15.64 billion in 2023 and is expected to grow at a CAGR of 9.04% during the forecast period 2024 - 2031.
The growing need for high-speed internet and smart home gadgets are the major factors that propel the global wireless router market growth.
The increasing use of wireless connected devices in the healthcare sector is anticipated to play a significant role in the global wireless router market in the coming years.
The key players holding majority shares in the global wireless router market are Cisco Systems, Inc., Tenda, TP-LINK CORPORATION PTE. LTD., Belkin, D-Link (India) Limited., EDIMAX Technology Co., Ltd., Huawei Device Co., Ltd., NETGEAR, Xiaomi, ASUSTeK Computer Inc.
The global wireless router market is expected to reach US$ 31.25 billion by 2031.