Global Consumer Wi-Fi Router Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Type (Wireless G, Wireless N, Wireless AC), By Connectivity (Core Routers, Edge Routers), By End-User (BFSI, Government, IT & Telecom, Retail, Healthcare, Residential, Others), And By Geography - Forecasts From 2022 To 2027

The global consumer Wi-Fi router market was valued at US$7.860 billion in 2020 and is expected to grow at a CAGR of 3.01% over the forecast period to reach a total market size of US$9.674 billion in 2027.

Factors such as rising demand for connected devices, increasing online commerce for retail goods & services, rapid digitalization, and rapidly rising platforms for media and entertainment content are expected to drive the market growth during the forecast period. Additionally, the growing adoption of smart homes is also contributing to overall market growth. The rising adoption of smart devices such as smartphones, tablets or smart TV is also responsible for the market growth. The high demand for fast internet connectivity due to the increasing trend of online transactions through mobile banking apps, web browsing, and online learning over the last two years has been driving the growth of the market. With the increasing advancement and development in technologies such as IoT and AI, there is a growing demand for high-speed internet connectivity which is anticipated to have a positive impact on the overall market growth.

One of the prime reasons which are supporting the growth of the market is the growing demand for high-speed internet connection among various households owing to the growth in the number of connected devices.

A majority of the residential sectors are being transformed into smart homes that require high-speed internet to facilitate many functions. The advancement of smart TV, and smart speakers such as Amazon Echo and Google Home has boosted the growth of the wi-fi router market.  Institutions are also dependent on cloud storage for combining massive data sets in one place for advanced analytics and integrated insights which has increased the demand for fast-paced internet connection across the BFSI sector which in turn, is expected to drive the overall market growth.

Moreover, increased government initiatives to improve internet access will also propel market growth in the coming years. For example, the federal government will spend approximately US$65 billion to boost broadband internet connectivity in rural areas and make the internet more attainable for lower-income people across the country. The internet measures are part of President Joe Biden's US$1 Trillion Infrastructure Investment and Jobs Act, which was signed into law in November 2021. For low-income households, the bill extends a federal subsidy on broadband service. It also necessitates the precise and standard labeling of internet pricing, which will aid consumers in comparing plans and comprehending the fees on their monthly bills.

Key developments

The ongoing competition amongst the key market players is projected to drive the demand for Wi-fi routers from the residential sector during the forecast period. For instance, Netgear Inc. has launched a 4G LTE ORBI Tri-band mesh Wi-Fi router. This router can combine with existing wired service to create an internet connection that is backed up by 4G LTE. It can also be used with Netgear Armor which is a cybersecurity solution to protect all internet-connected devices at home from viruses and hacking.

Xiaomi announced the release of new routers in April 2020. This router was the first to be incorporated with Wi-Fi 6 that the firm offers in China. The MI AIoT Router AX3600, the company's first router with Wi-Fi 6, boasts rates of up to 2,976 Mbps & six antennas for signal amplification.

Regional Insight

By geography, the global consumer Wi-Fi router market is segmented into North America, South America, Europe, the Middle East and Africa, and Asia Pacific. Asia Pacific region is expected to hold a considerable market share due to the availability of a wider selection of wireless networks from network providers. Additionally, the increase in the number of connected devices as a result of increased demand for connectivity and innovation from various market players will also propel the markets during the forecast period. The North American market is also expected to grow at a significant market rate due to the increasing adoption of smart devices such as smartphones, tablets, and smart TVs in the region.

COVID-19 Impact on Consumer Wi-Fi Router Market

The COVID-19 pandemic had a positive impact on the consumer Wi-Fi router market. As quarantine restricted people inside their homes, companies all around the world implemented work-from-home policies, which spiked the demand for Wi-Fi routers. For instance, in March 2020, Amazon, the US-based multinational technology company, asked all its employees to work from home amid the fear of coronavirus. Also, when given an option, employees preferred working from home. A survey by LinkedIn dated August 2020 showed that 63% of working professionals preferred working from home in some capacity. As a result, the WFH trend has positively impacted the market. Many leading market leaders for consumer Wi-Fi routers such as Netgear witnessed a huge jump in their revenues.

Global Consumer Wi-Fi Router Market Scope:

Market Segments

• By Type
  • Wireless G
  • Wireless N
  • Wireless AC
• By Connectivity
  • Core Routers
  • Edge Routers
• By End-User
  • BFSI
  • Government
  • IT & Telecom
  • Retail
  • Healthcare
  • Residential
  • Others
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Others
  • The Middle East and Africa
    • Saudi Arabia
    • Israel
    • UAE
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Others