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.
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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.
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.