On July 02, 2020, Kenneth Research had published a report on Router Market. This report covered the forecast and analysis of the Router Market on the global and regional levels. It also included the challenges which will be affecting the growth of the industry. It is forecasted that by 2026 there will be a breaking hike in the revenue of the market. It also includes the opportunity that is available for the Router Market at the global and regional levels. It was also forecasted that the global Router Market to grow to reach xxx Million USD in 2020 with a CAGR of xx% during the period of 2020-2025.
Reasons for the growth
Due to the increase in the adoption of the internet, almost every person is techno-savvy these days. This has resulted in the growth of the Router Market almost every industrial vertical, resulting in strong interconnectivity. Due to this increase in demand, it helps inefficient management of data, optional use of resources, and reduction of expenditure. Further, the increase in the use of the router in the retail sector, owing to its properties such as the speed with minimal efforts, centralized management, integrated network security is driving the growth of the global industrial Router Market.
Pandemic is useful for Market
Due to the coronavirus pandemic, the Router Market has grabbed the opportunity to grow. Work from home has become a new trend these days. Every company and employees are working while sitting there homes, this has resulted in the increase of the wireless Router Market, as a result of supplies of IT peripherals, including wireless routers leading a sharp spike in the demand. In order to enable secure remote work from the home networks, the solutions and offers are focused on customers in any market segment.
The United States holds major shares
In North America, the United States hold the major share in fixed broadband internet connections, globally. It was determined that around 85.63% of the population has access to the internet. The main reason might be that there are various giants of technology over there such as Cisco, D-link, and TP-Link, etc. It was observed that in the US more than three out of every four households have a fixed broadband connection.
The Router Market will grow more if people will become more reliant on technology.