The global home networking device market is expected to grow at a significant CAGR during the forecast period 2024-2031. The home networking device is a combination of devices that are interconnected with each other and the internet from various devices including- mobile, computer and gaming systems. The home networking device is integrated into premises to gain automated mechanization and to avail advanced features it enables the technology using electronic devices. The network devices encourage easy access to files, folders and directories to all interconnected devices and enable to set up of a Local Area Network (LAN) to connect personal devices over a network.
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The rising adoption of network devices and surging implementation of customers’ broadband are predominant factors that drive the market growth of the global home networking device market. The growing demand for innovative featured gadgets, increasing adoption of consumer electronics and rising emergence in the innovation of home automation products is expected to propel the market growth of the global home networking device market during the forecast period.
Smart grid accessibility over networked devices and home networking devices and wide network connectivity via LAN, VAN and others to connect devices is the same factor that is expected to emerge as the market driver for the global home networking device market. The increasing development in home networking device production and manufacturing for improving capacity and productivity is an additional factor that is expected to propel the growth of the global home networking device market and create new opportunities for home networking devices across the globe. The home networking devices are subsequently enabled by elder peoples to regulate and monitor various systems at home with the network device. Thus the increasing population ageing is projected to contribute as a market driver for the growth of the global home networking device market.
The increasing emergence of wireless technologies to generate a secure connection among routers, actuators and peripheral devices, technological advancement in IoT and AI segment, product up-gradation trend and rising adoption of automated security and lighting systems as smart home devices. These over mentioned dynamics are some market drivers that are anticipated to emerge consistent growth opportunities for the global home networking device market during the forecast period.
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Market Coverage
- Segment Covered-
o By Solution
o By Component
o By Product Type
o By Vertical Industry
- Competitive Landscape- HP, TP-Link Technologies, Legrand SA, ZyXEL Communications Corp., PLANET Technology.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominates the market in base year?
- Which segment and region will project fastest growth in the market?
- How COVID-19 impacted the market?
o Recovery Timeline
o Deviation from pre-COVID forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Home Networking Device Market by Segment
By Solution
- Wired
- Wireless
By Component
- Hub and Switch
- Router
- Adapter
- Extender
- Wireless access point
By Product Type
- Audio Equipment
- Video Devices
- Gaming Consoles
By Industry Vertical
- Telecommunication
- Smart Home
- IT
- Others
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