According to a new report published by MarkWide Research, titled, “Home Networking Device Market,” the global market for home networking devices is expected to exceed $16.5 billion by 2030, displaying a robust CAGR of 6.8% during the forecast period from 2023 to 2030.
Home networking devices encompass routers, modems, switches, and other equipment that enable seamless connectivity within households. The market’s growth is driven by the increasing demand for high-speed internet, the proliferation of smart homes, and the need for reliable and secure network infrastructure.
Key findings from the report:
- Smart Home Adoption: The rise in smart homes requires robust home networking solutions to connect and control IoT devices.
- Remote Work and Learning: The demand for remote work and online education fuels the need for high-speed, stable internet connections.
- 5G Integration: Home networking devices are evolving to support 5G connectivity, enhancing network performance.
- Market Competitors: Leading players in the home networking device market include Cisco Systems, Inc., NETGEAR, Inc., and TP-Link Technologies Co., Ltd., who continually innovate to meet evolving connectivity demands.
The report predicts substantial growth in the global home networking device market as households increasingly rely on digital connectivity for work, education, entertainment, and smart living. MarkWide Research’s comprehensive analysis provides insights into the market’s current landscape and future trends, empowering consumers and industry stakeholders to make informed decisions and capitalize on opportunities in the home networking device market.
MarkWide Research is a leading market research and consulting firm, providing in-depth analysis and strategic insights across various industries. With a team of experienced analysts, MarkWide Research is committed to delivering actionable intelligence, assisting clients in making informed business decisions and achieving sustainable growth.