The three leading players in the global market for home networking devices
in 2014 were TP-Link Technologies Co., Ltd., ASUSTeK Computer, Inc.,
and D-Link Corporation. Their lead in this market is attributed to their
greater focus on constant product innovation and a wide global
distribution network.
According to a recently published report
by Transparency Market Research, product development and innovation are
essential for home networking devices providers to stay ahead of the
curve in a technology industry that evolves by the day.
Armed with a CAGR of 7.0% within a
forecast period from 2015 to 2023, the global market for home networking
devices is expected to reach US$14.35 bn by the end of 2016 and
US$23.23 bn by the end of 2023.
Wireless solutions not only continue to
be the more popular solution in home networking devices, but the
disparity between wired and wireless networking device revenues is
expected to grow even further. By the end of 2023, the revenue generated
by wireless home networking devices is expected to reach US$14.81 bn.
Routers have consistently been the
leading home networking device components in terms of consumption. By
the end of 2023, US$8.61 bn are expected to be generated by home
networking device providers through the sale of routers.
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APAC Leads in Demand for Home Networking Devices
By 2023, Asia Pacific is expected to
generate a revenue of US$7.20 bn for its home networking devices
providers. This region’s leading share in the global home networking
devices market is attributed to its high population density coupled with
the increasing disposable income among urban consumers.
North America is expected to lose part
of its share to Asia Pacific due to an increased focus by home
networking devices companies on emerging economies. North America,
nonetheless, will continue to be a key contributor to the global demand
for home networking devices.
High Demand for Home Connectivity Likely to Boost Need for Home Networking Devices
“More and more consumers are looking
towards wirelessly connected devices operating within their homes. The
scope of application of connected devices is increasing day by day, and
so is the bandwidth that the devices can communicate on,” states a TMR
analyst.
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