The Router Market is Predict to reach USD 45.39 Billion by 2031, at a CAGR of 11.4%

Router Market Growth, Trends and Report Highlights

According to a new report, published by KBV research, The Global Router Market size is expected to reach $45.39 billion by 2031, rising at a market growth of 11.4% CAGR during the forecast period. In the year 2023, the market attained a volume of 322,627.9 thousand units, experiencing a growth of 12.0% (2020-2023).

The Wireless segment is leading the Global Router Market by Type in 2023; thereby, achieving a market value of $36.1 billion by 2031. The increasing demand for high-speed internet, the rise of smart homes, and the growing number of connected devices have contributed to the prominence of wireless routers. Wireless routers offer flexibility, ease of installation, and the ability to connect multiple devices without the constraints of cables, making them a preferred choice for residential and commercial applications. The continuous advancements in wireless technology, such as Wi-Fi 6 and Wi-Fi 6E, have further fueled the adoption of wireless routers, enhancing their performance and range.

The BFSI segment is anticipating a CAGR of 11.2% during (2024 - 2031). As financial institutions increasingly rely on digital banking, mobile applications, and cloud computing, the need for secure, high-speed, and reliable networking solutions has grown substantially. Routers play a key role in ensuring secure data transfers, maintaining connectivity for online transactions, and supporting the overall IT infrastructure in financial institutions. The BFSI sector’s focus on enhancing cybersecurity and compliance with regulatory standards further fuels the demand for advanced router technologies.

Full Report: https://www.kbvresearch.com/router-market/

The North America region dominated the Global Router Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $15.7 billion by 2031. The Europe region is experiencing a CAGR of 11.2% during (2024 - 2031). Additionally, The Asia Pacific region is expected to witness a CAGR of 12% during (2024 - 2031).

List of Key Companies Profiled

• ASUSTeK Computer Inc.
• Belkin International, Inc. (Foxconn Interconnect Technology Limited)
• Arista Networks, Inc.
• D-Link Corporation
• Netgear, Inc.
• Cisco Systems, Inc.
• Huawei Technologies Co., Ltd. (Huawei Investment & Holding Co., Ltd.)
• Xiaomi Corporation
• Juniper Networks, Inc.
• ZTE Corporation

Router Market Report Segmentation

By Type (Volume, Thousand Units, USD Billion, 2020-2031)

• Wireless
  • Dual
  • Single
  • Tri
• Wired

By End User (Volume, Thousand Units, USD Billion, 2020-2031)

• IT & Telecom
• BFSI
• Education
• Healthcare
• Other End Users

By Geography (Volume, Thousand Units, USD Billion, 2020-2031)

• North America
  • US
  • Canada
  • Mexico
  • Rest of North America
• Europe
  • Germany
  • UK
  • France
  • Russia
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Malaysia
  • Rest of Asia Pacific
• LAMEA
  • Brazil
  • Argentina
  • UAE
  • Saudi Arabia
  • South Africa
  • Nigeria
  • Rest of LAMEA

Related Reports:

North America Router Market Size, Share | Trend Report 2031

• December-2024
• 146 Pages

LAMEA Router Market Size | Industry Research Report 2031

• December-2024
• 160 Pages

Europe Router Market Size, Share | Industry Trend to 2031

• December-2024
• 161 Pages

Asia Pacific Router Market Size & Analysis Report to 2031

• December-2024
• 150 Pages