Router market report contains detailed information on factors influencing demand, growth, opportunities, challenges, and restraints. It provides detailed information about the structure and prospects for global and regional industries. In addition, the report includes data on research & development, new product launches, product responses from the global and local markets by leading players. The structured analysis offers a graphical representation and a diagrammatic breakdown of the Router market by region.
The global router market size was estimated at around US $14.80 billion in 2020 and will grow at a compound annual growth rate (CAGR) of 8.2% during the forecast period from 2021 to 2027.
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The router is a networked computer system used to control traffic between computer networks.
A router helps companies transfer data between local area networks (LANs) and wide-area networks (WANs) within a specific geographic area.
The router industry experienced a significant growth and is expected to grow at the same pace. Faster internet connectivity technology and rise in adoption in various industries are the key factors contributing to the growth of the industry. The increasing use of routers in education, healthcare, education, and the BFSI industry is expected to fuel the global router market growth across the globe. Moreover, the growing adoption of a bring-your-own-device policy among SMEs will contribute to the growth of the overall market.
High-speed internet connectivity benefits, including quick access to the operational data and trending online banking service, would drive the growth of the market. The router application provides various benefits to businesses to run efficiently. It allows sharing and cross-referencing of data. It also helps in tracking employee’s performance and delivery of the products and services effectively.
Advancement in services will fuel the growth of the global router market. Routers integrated with healthcare devices like remote patient monitoring machines and heart-rate monitoring equipment. These factors would propel the growth of the market across the globe.
Apart from that, digital technology is used by the education system to deliver advanced education services and enhance student performance, which ultimately prompts market growth.
Students throughout U.S. and Canada are using smart phones to improve their knowledge and communicate to parents when needed. The growing use of technology in students, health, and the education department will ultimately grow the market during the forecast period.
However, the high expenses of establishing wireless router solutions are likely to decelerate the growth. Furthermore, disadvantages like overheating and overloading are expected to obstruct the adoption of routers.
A release on June 8th, 2021, by the Bureau and Economic Analysis and U.S. Census Bureau reports the recovering of the U.S. market. The report also described the recovery of U.S. International Trade in July 2021.In April 2021, exports in the country reached $300 billion, an increase of $13.4 billion. In April 2021, imports amounted to $294.5 billion, increasing by $17.4 billion. COVID19 is still a significant issue for economies around the globe, as evidenced by the year-over-year decline in exports in the U.S. between April 2020 and April 2021 and the increase in imports over that same period of time. The market is clearly trying to recover. Despite this, it means there will be a direct impact on the Healthcare/ICT/Chemical industries, resulting in a large market for Router Market.
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North America dominated the market by holding the maximum share in the global router market. The region is anticipated to contribute with the maximum share during the forecast period. Increasing adoption of cloud-based technology and digital technology in education, healthcare, and BFSI would propel the growth. Meanwhile, the Asia-Pacific region is anticipated to witness promising growth during the forecast period because of the surge in requirements to track network violations.
COVID-19 impact analysis
The router market has witnessed a positive impact during the COVID-19 pandemic, owing to the trending work from home culture and increasing demand for routers. COVID-19 pandemic is expected to enhance the demand for devices in various automation industries including, fuel, e-commerce, manufacturing, healthcare, and oil and gas.
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According to Statista, as of 2021 data, the United States held over ~36% of the global market share for information and communication technology (ICT). With a market share of 16%, the EU ranked second, followed by 12%, China ranked third. In addition, according to forecasts, the ICT market will reach more than US$ 6 trillion in 2021 and almost US$ 7 trillion by 2023. In today’s society, continuous growth is another reminder of how ubiquitous and crucial technology has become. Over the next few years, traditional tech spending will be driven mainly by big data and analytics, mobile, social, and cloud computing.
This report analyzes the global primary production, consumption, and fastest-growing countries in the Information and Communications Technology(ICT) market. Also included in the report are prominent and prominent players in the global Information and Communications Technology Market (ICT).
Key Market Segments
By End User
IT and Telecom
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Rest of Western Europe
Rest of Eastern Europe
Australia & New Zealand
Rest of Asia Pacific
Middle East & Africa (MEA)
Rest of MEA
Rest of South America
Key Market Players
ASUSTeK Computer Inc.
Belkin International Inc.
Cisco systems Inc.
Huawei Technologies Co., Ltd.
TP link Technologies Co. Ltd.
Other prominent players
What is the goal of the report?
• The market report presents the estimated size of the ICT market at the end of the forecast period. The report also examines historical and current market sizes.
• During the forecast period, the report analyzes the growth rate, market size, and market valuation.
• The report presents current trends in the industry and the future potential of the North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa markets.
• The report offers a comprehensive view of the market based on geographic scope, market segmentation, and key player financial performance
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