The modern home is on the brink of becoming a part of an interconnected web of connected institutions worldwide. However, for a home to be connected to an external web of devices and systems, it is imperative that appliances and devices within the home are connected to each other. This is becoming increasingly easy thanks mainly to the continuing increase in the usage of tablets and smartphones to control home functions such as security, power usage, and appliance operations. All of these factors have created a conducive environment for the growth of the global home networking device market.
With the future of the global home networking device market expected to be transformed almost entirely by the Internet of Things (IoT), it is expected that market will stand at be sized at US$23.24 bn by 2023 in terms of size. The market generated revenue to the tune of US$12.82 bn in 2014, says a report by Transparency Market Research. The report is now available on the website of Market Research Reports Search Engine (MRRSE).
Browse Full Global Home Networking Device Market Report with TOC :http://www.mrrse.com/home-networking-device-market
Increased Internet Connectivity to Favor Sales of Home Networking Devices
In urban and semi-urban areas, the majority of households have access to the internet. This increased reach of the internet will manifest itself in the form of a growing demand for home networking devices. Moreover, households that already have the older generation of networking devices will be faced with the need to upgrade their home networking devices to come up to par with the latest generation of devices on the market. The use of Wi-Fi technology will create newer opportunities for the growth of the global home networking devices market.
While the number of home networking devices shipped in 2014 stood at 444.8 mn units, that number is expected to rise to 1.03 bn units by the end of 2023, which translates to a 10.1% CAGR between 2014 and 2023.
Asia Pacific Home Networking Device Market Tower over the Rest
According to the report, Asia Pacific is the growth engine of the global home networking device market. In 2014, the region led in terms of both volume and revenue. The densely populated countries in APAC, where consumers are becoming increasingly more affluent, will create new and high-value growth windows for companies in the home networking devices market. The highest demand will be seen from China and countries in South Asia.
Besides, APAC, Europe’s performance in the global home networking device market will be encouraging as well. The greatest factor boosting the market’s growth in Europe is that countries in the region have a ready telecom infrastructure and consumers are more disposed to automating their homes, which calls for the use of home networking devices.
Powerline-based Devices Set for Remarkable Growth
The demand for powerline-based devices is expected to soar in the near future, says the report available on MRRSE. In nearly all major regional markets for home networking devices, the demand for adapters, routers, extenders will show an increase. On the other hand, the demand for switches and hubs will show a decline. This will occur because wired home networking devices becoming a dying trend.
Improved user ergonomics and devices that can offer higher bandwidths are areas where companies in the market should focus. Among companies that lead the global home networking device market are: Huawei Technologies Co. Ltd., Belkin International, Inc., Netgear, Inc., D-Link Corporation, ZyXEL Communications Corp., TP-Link Technologies Co., Ltd., and Legrand SA.