PUNE, India, March 5, 2020
- Global Smart Router Market was valued at US$ 7,834.33 million in 2018 and is expected to reach US$ 11,946.59 million by 2027, growing at an estimated CAGR of 4.8% over the forecast period
PUNE, India, March 5, 2020 /PRNewswire/ -- Smart routers are being used in smart homes as well as across various industries. However, the kind of products marketed to both these segment of customers vary in terms of their functionality, price and features. As adoption of IoT is rising across industries, smart routers are being increasingly used. These routers serve the connectivity, speed as well as security requirements of industrial as well as residential users. Adoption of Internet of Things (IoT) is on the rise owing to the growing need for real time process management, asset and inventory management. All these factors will collectively contribute to the demand of smart routers. Factors anticipated to influence the growth of Internet of Things sector worldwide are the growing trend for web-enabled appliances and the rising need for web connectivity. Market participants have launched smart routers that comply with WiFi 6 standard. These routers are relatively more secure and offer higher speeds. The Smart Router Market is competitive with presence of large sized global players including TP-Link, D-Link Corporation, Cisco Systems, Inc., Xiaomi Corporation, Huawei Technologies Co., Ltd. and others. Companies have primarily been competing based on functionalities such as speed, smarter control (app controlled), as well as data security.
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A significant growth driver for smart router market is the volatile growth of the internet industry, demand for mobility, and deployment of smart devices such as smart phones, tablets and smart TV. Moreover, demand for faster internet and an increased wireless network range drives the growth of this market. One of the prominent factor restraining the market growth is concerns pertaining to data security. In order to overcome the same, companies active in this market are investing in development of solutions that are less prone to various cyber threats.
Global Smart Router Market was valued at US$ 7,834.33 million in 2018 and is expected to reach US$ 11,946.59 million by 2027, growing at an estimated CAGR of 4.8% over the forecast period.
The detailed research study provides qualitative and quantitative analysis of smart router market. The market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across regions and further across all the major countries. The supply side analysis covers the major market players and their regional and global presence and strategies. The geographical analysis done emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East & Africa and Latin America.
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Key Findings of the Report:
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Smart Router Market:
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