Press release
Home Wi-Fi Security Solutions Market : Understanding the Key Product Segments and their Future
Home Wi-Fi security solutions are smart security devices, capable of protecting connected devices from various virtual intrusions such as viruses, malware and hackers. These security devices are connected to the wireless Internet network, and services can be availed by any customer, irrespective of their wireless or home broadband service provider. Devices can be managed either in the home, or remotely via smartphones, tablets, or PCs, using a secure login.This study is focused on a particular type of home Wi-Fi security solution, which is plug and play devices, compatible with home Wi-Fi routers. These home Wi-Fi security solutions offer features such as setting up schedules for Internet usage, apps and site blocking, parental insights, Internet stop button, per device profiles and weekly usage report.
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Growing subscriber base for smart devices and Internet use is driving growth of the APAC home Wi-Fi security solutions market. Since the last decade, Internet penetration has increased ten-fold in countries such as India, Indonesia and Malaysia. Consequently, development of commercial-scale toolkits and cyber-crime networks, focusing on monetization of malware and related threats, have amplified the risks of cybercrimes.
The APAC home Wi-Fi security solutions market was valued at US$ 8,050.3 in 2015 and is expected to expand at a CAGR of 12.7% during the forecast period.
The APAC home Wi-Fi security solutions market is classified on the basis of component and home network architecture. On the basis of component, the market is segmented as hardware and software. The hardware sub-segment was valued US$ 6,875.8 in 2015 and is anticipated to register a CAGR of 12.4% during the forecast period. Presently, hardware sub-segment in APAC market dominates in terms of revenue share contribution.
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On the basis of home network architecture, the APAC market is segmented as Wi-Fi router, modem and router as one device, modem and router as separate device and Wi-Fi range extender. The Wi-Fi router sub-segment accounted for highest market share at 48% in 2015.
Among the countries in APAC region, India was the largest market for home Wi-Fi security solutions and accounted for largest share of total home Wi-Fi security solutions market in 2015. This growth is primarily attributed to increased adoption of improved software development and enhanced security models by critical infrastructure organizations and leading enterprises in the country to gain consumer confidence.
A bevy of new startups are leveraging smart home technology and Internet of things (IoT) to introduce innovative products and new business models for the home security market. Some key players in the home Wi-Fi security solutions market include Cujo LLC, Koalasafe Inc., Eero Inc., Keezel, Luma Home Inc. and Securifi.
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