Router Market Size Expected to Reach $33.96 Billion by 2030

Router is a physical or virtual internetworking device that is designed to receive, analyze, and forward data packets between computer networks. In addition, it manages traffic between networks by forwarding data packets to their intended IP addresses, and allowing multiple devices to use the same internet connection. Furthermore, routers are configurable, which allows network manager to create policies based on routing decisions. In addition, with the use of cutting-edge technology such as AI and machine learning, routers can now make smart decisions allowing customers to prioritize urgent cases and high-value customers, precisely route a case to the correct bot or agent, and orchestrate how humans and bots collaborate to quickly resolve customer problems.

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Growing penetration of bring-your-own-device policy among the SMEs positively impacts the growth of the market. In addition, increase in demand for faster internet connectivity technology among consumers and rise in adoption of connected device among the healthcare, education and BFSI industry are some of the important factors that boost the global router market across the globe. However, factors such as high implementation cost of wireless router solutions and overheating and overloading of router technology is expected to hamper the market growth. On the contrary, increase in government initiatives for smart city project is expected to provide lucrative opportunity to boost the growth of the market around the world.

Key Findings Of The Study:

► By type, the wireless segment accounted for the router market share in 2020.

► By region, North America generated the highest revenue in 2020.

► By end user, the IT & telecom segment accounted for the router market share in 2020.

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Depending on type, the wireless segment dominated the market share in 2020, and is expected to witness the highest growth rate during the forecast period, due to increase in adoption of smartphone and personal laptop among the employees for office work.

Region wise, the router market was dominated by North America in 2020, and is expected to retain its position during the forecast period. The key factors that drive the North America market include availability of major technological company such as Cisco Systems, Inc. and D-Link Corporation and increase in adoption of digital technology in U.S. and Canada. However, Asia-Pacific is expected to witness significant growth rate during the forecast period, to the growing adoption of smartphone among the people across China, Japan and India.

The outbreak of COVID-19 is anticipated to have a significant impact on the growth of the router market. Healthcare is one of the main industries where the use of routers has increased significantly for improving the contact with the COVID-19 patient and increasing the safety of the doctors and other employees of the hospital. This has significantly increased the adoption of routers for home office spaces, thus surging the demand for these solutions among end users. However, the COVID-19 pandemic has led to increased adoption of cloud technology to help consumers across various industries to combat the pandemic situation. Furthermore, many countries are providing free and open source platform that is unlicensed spectrum for helping them to tackle the COVID-19 situation.

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The report focuses on the growth prospects, restraints, and trends of global router market analysis. The study provides Porter's five forces analysis to understand the impact of various factors such as bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers on global router market.

Key Market Players:

► SUSTeK Computer Inc.

► Belkin International Inc.

► Cisco systems Inc.

► D-link Corporation

► Eero LLC.

► Huawei Technologies Co., Ltd.

► Netgear

► Synology Inc.

► TP link Technologies CO. Ltd

► Xiaomi

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