The Wi-Fi range extender market is expected to register a CAGR of 16.44% during the forecast period (2021 - 2026). The market is expected to witness robust growth over the forecast period, due to the growing demand for internet access and the increasing number of consumer electronics devices across the world, primarily in the residential sector.
- The ease of installation, along with the cost benefits associated with the purchase of an extender compared to adding another Wi-Fi router, essentially performing the same function of extending the Wi-Fi coverage, is a major advantage that plays a vital role in increasing the sales of the Wi-Fi range extenders, mostly in the commercial and residential sectors.
- The rapid growth of the connected homes concept and the emergence of the smart home ecosystem are among the other major factors expected to boost the growth of the market.
- The emergence of the BYOD trend in the corporate sector has further propelled the use of wireless routers in the commercial space.
- Additionally, the demand for the wireless routers is rising from the growing consumer preference toward the installation of smart devices in their homes, such as smart TVs, smartphones, and tablets, among a host of lot other appliances.
Key Market Trends
Proliferation of Smart City and Smart Home Applications to Drive Market Growth
- Smart cities and smart homes are growing tremendously and transforming modern life. A smart home is defined as a residence that has installed smart products/devices, such as smart security systems, smart entertainment systems, air conditioners, smart televisions, and many more devices.
- With the rapid increase in the sales of smart home devices, the Wi-Fi range extender market is poised to grow further.
- Smart products/devices used in the smart homes/offices are required to be connected to the internet to work seamlessly and thus, require Wi-Fi range extenders for an increased range of a normal Wi-Fi router. The overall demand for smart products is poised to increase, owing to technological innovations, consumer interest, and greater accessibility.
- A smart city consists of smart systems, like smart traffic system, smart buildings, smart water management, smart waste management, and a couple of IoT devices, among others, which need an internet connection to provide useful data to keep track of the resources. This is expected to boost the market studied.
North America to Hold the Largest Market Share
- The North American region is a pioneer in the Wi-Fi range extender market and is expected to hold the largest share.
- Most of the major Wi-Fi range extender companies are headquartered in the United States.
- Moreover, most of the companies test and launch their products and services in the country, before a global launch and deployment of the product.
- With the growing number of devices per household, fast adoption of new technology and growing focus on digitalization, the region is boosting the growth of the Wi-Fi range extender market.
- Also, one of the major major factors contributing toward the growth of the Wi-Fi extender market is the increased utilization of wireless service among various end-users in the region. A Wi-Fi extender is primarily used in the United States for a large number of residential users adopting connected device technology.
The Wi-Fi range extender market is highly concentrated with the presence of many players running their business at a national as well as international level. The market is moderately concentrated and the key strategies adopted by major players are product innovation and mergers and acquisition. Some of the major players in the market are Alcatel-Lucent SA, Cisco Systems Inc., Huawei Technologies Co. Ltd, Ericsson Inc., Juniper Networks, among others.
- January 2018: Netgear launched Nighthawk Pro Gaming Wi-Fi Routers with two flagship products to cut lag and enhance gameplay, which will help to increase the level of speed, performance, personalization, and control.
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