According to a new report Global Router Market, published by KBV research, The Global Router Market size is expected to reach $25 billion by 2027, rising at a market growth of 8.1% CAGR during the forecast period.
The growth of the router market would be driven by the surge in penetration of the bring-your-own-device trend among SMEs. Additionally, some of the catalysts for the growth of the router market include growing demand for high-speed internet connectivity technology among consumers and increasing adoption of connected devices among the healthcare, BFSI, and education industries.
The wireless segment procured the maximum revenue share of the router market in 2020. Moreover, the segment is likely to showcase the highest growth rate during the forecasting period. This is attributed to the growing adoption rate of smartphones and personal laptops among the employees for the purpose of work.
The healthcare segment would showcase the highest growth rate during the forecasting period. This is accredited to the growing requirement for faster internet connectivity among the healthcare industry to examine massive volumes of electronic medical records. Moreover, the rising expenditure of healthcare experts on data automation technology for real-time monitoring of the health condition of the patient and the increasing requirement for faster connections in hospitals and other healthcare institutions for examining the raw data.
In 2020, the North American region emerged as the leading region in the router market and the region is likely to witness a similar kind of trend even during the forecasting period. Factors such as the surge in the adoption rate of cloud-based technology across the region and the growing deployment of digital technology across various industries like healthcare, BFSI, and education.
Full Report: https://www.kbvresearch.com/router-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of ASUSTeK Computer Inc., Belkin International Inc. (Foxconn), Cisco Systems Inc., D-link Corporation, Eero LLC. (Amazon.com), Huawei Technologies Co., Ltd., Netgear, Synology Inc., TP link Technologies Co. Ltd., and Xiaomi.
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