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Wireless Router Market Analysis

The Wireless Router Market size is estimated at USD 15.22 billion in 2024, and is expected to reach USD 23.64 billion by 2029, growing at a CAGR of 9.20% during the forecast period (2024-2029).

With work-from-home (WFH) becoming the trend during the COVID-19 pandemic, players and individual consumers needed to secure various IT products for their employees. As a result, supplies of IT peripherals, including wireless routers, witnessed an increase in demand.

Wireless routers are known for including wireless access points that are used to provide access to the internet or a private computer network. Depending on the manufacturer and model, wireless routers function in a wired local area network, wireless-only LAN, or the mixed wired and wireless network.

The primary factor for the growth of wireless technology is the regularly changing standards set for improving routers. Wireless router technology has evolved steadily over the past decade, keeping pace with advances in standards set by the Institute of Electrical and Electronics Engineers (IEEE). These standards are updated regularly to improve network throughput in terms of maximum speeds and transmission capabilities.

These upgrades have given the companies in the market the means to strive for innovation and successfully satisfy the customers' demand for higher bandwidth and faster internet. The key market drivers are increasing consumer demand for web-enabled devices and growth in IP traffic.

The increasing demand for faster internet connectivity among consumers deteriorated due to the increase in the number of effective devices being connected. It is spurring the demand for wireless routers with appropriate connectivity. Further, the advent of IoT and changing consumer preferences toward purchasing various gadgets and wearables capable of operating and performing a plethora of functions with internet connectivity are expected to propel the growth of the wireless router market over the forecast period.

For businesses, the priorities differ from most consumer users. Security, support, remote access, business-grade VPN, WAN redundancy, connectivity options, and scalability are ranked higher than absolute raw speed, value for money, or quality of service. Moreover, companies are introducing new products and strategizing to expand to leverage the market's growing demand. For instance, in November 2022, DIGISOL Systems Ltd, a provider of Trusted Made In India Products and IT Networking Solutions, announced the launch of DG-GR6821AC - Digisol XPON ONU 1200 Mbps Wi-Fi Router with 1 PON, 2 GE Port & 1 FXS Port.

COVID-19 has accelerated the shift toward increased usage of wireless technology. The industry has responded well to this increased demand, which, in turn, has created an opportunity for new technologies to be deployed in the markets, such as data centers, cloud, gaming, hardware, and connected devices.

Wireless Router Industry Segmentation

A wireless router is a device that provides access to the internet or computers, laptops, and tablets, to a network. It allows users to share an internet connection, files, or printers in a local area network (LAN). Moreover, a wireless router connects a LAN to a wide area network (WAN), such as the internet. A wireless router largely eliminates the need for awkward, unsightly wires and allows multiple users to connect to a LAN and WAN.

The wireless router market is segmented by component type (Wi-Fi band (single, dual, and tri-band)), end user (residential and commercial (BFSI, education, healthcare, media, and entertainment)), and geography. 

The market sizes and forecasts are provided in terms of value (in USD million) for all the above segments.