Home Wi-Fi Security Solutions Market to Witness Steady Growth at 12.7% CAGR During 2016-2026
Growing subscriber base for internet usage and smart devices will continue to fuel the growth of Wi-Fi security solutions market in the region. In addition, increasing internet penetration, and development of cyber-crime networks and commercial-scale toolkits that create malignant malware are influencing individuals to install home Wi-Fi security solutions. Mounting concerns over growing cybercrimes are also anticipated to play a key role in driving the growth of the home Wi-Fi security solutions market in APAC.
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On the basis of home network architecture, Wi-Fi routers will dominate market revenues, accounting for a 47.7% share in 2016. Modem and router (combo) devices will grow in popularity owing to their advantages, such as lower space requirement and necessity of fewer cables. Constant innovation in functionality of Wi-Fi router services and production of cost-effective devices is expected to further drive the growth of the market. By components, the hardware segment will continue to account for the highest share in terms of revenue.
India will maintain its position as the leading APAC home Wi-Fi security solutions market, accounting for over 74.5% revenue share in 2016. Affordable service availability and pervasive wireless connectivity will support the growth of the market in the country. Malaysia and Indonesia will also exhibit healthy growth rates owing to an increasing adoption of cloud in IoT services and growing market for M2M communication in these countries.
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Key participants identified in the APAC home Wi-Fi security solutions market include Koalasafe Inc., Keezel, Securifi, Cujo LLC, eero Inc., and Luma Home Inc.
Long-term Outlook: The APAC home Wi-Fi security solutions market is expected to expand at a CAGR of 12.7% during the forecast period 2016-2026. India will continue to witness exponential growth during the forecast period.
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