Routers Market Size, Share, Industry Trends and Forecast to 2030

What is the Market Size & CAGR of Routers market in 2021?

The global routers market size in 2021 was estimated to be around USD 12.5 billion. The market is projected to have a Compound Annual Growth Rate (CAGR) of 6.2% from 2021 to 2026. This growth is primarily driven by the increasing demand for high-speed internet connectivity, the rise in smart home devices, and the growing adoption of cloud-based services.

COVID-19 Impact on the Routers Market

The COVID-19 pandemic had a mixed impact on the routers market. On one hand, the increased remote working and online learning due to lockdowns and restrictions led to a surge in demand for routers as more people required stable internet connections at home. On the other hand, disruptions in the global supply chain and manufacturing processes impacted the production and distribution of routers.

Routers Dynamics

Routers play a crucial role in connecting multiple devices to the internet and facilitating data transfer between them. The market dynamics of routers are influenced by factors such as technological advancements, increasing internet penetration, the shift towards IoT devices, and the need for secure and reliable networks. Key players in the routers market constantly innovate to provide faster speeds, wider coverage, and enhanced security features.

Segments and Related Analysis

The routers market can be segmented based on types such as wireless routers, wired routers, core routers, and edge routers. Wireless routers, which provide Wi-Fi connectivity, are the most popular among consumers. In addition, the market can also be segmented based on end-users such as residential, commercial, and industrial sectors. Each segment has specific requirements and preferences when it comes to router specifications.

By Region Analysis

The routers market is geographically segmented into regions such as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America and Europe have well-established IT infrastructure and high internet penetration rates, leading to a significant demand for routers. Asia Pacific, on the other hand, is witnessing rapid digitalization and urbanization, driving the adoption of routers in the region.

Key Market Players and Competitive Landscape

Key players in the routers market include Cisco Systems, Huawei Technologies, TP-Link, D-Link, Netgear, and ASUS. These companies compete based on factors such as product innovation, pricing strategies, distribution networks, and after-sales services. The competitive landscape of the routers market is characterized by mergers, acquisitions, and partnerships to enhance market presence and expand product portfolios.

Recent happenings in the Routers Market

In recent developments, Cisco Systems launched its new series of enterprise routers with advanced security features to address the growing cybersecurity threats. Huawei Technologies introduced 5G-enabled routers for ultra-fast internet connectivity. TP-Link and D-Link collaborated to develop routers compatible with emerging IoT devices. Netgear unveiled its latest mesh router system for seamless whole-home coverage. ASUS launched gaming routers with enhanced performance and low latency for online gaming enthusiasts.