According to a recent report published by Allied Market Research, titled, “Wi-Fi Range Extender Market by Type and Application: Global Opportunity Analysis and Industry Forecast, 2021–2030”, the global Wi-Fi range extender Market size was valued at $1250.2 million in 2020, and is projected to reach $3357.8 million by 2030, registering a CAGR of 10.8%.
The key players profiled in the Wi-Fi range extender industry include NetGear Inc, TP-Link Technologies Co Ltd, D Link Corporation, TRENDnet, Linksys, Cisco Systems, Inc., Huawei Technologies Co Ltd., Shenzhen Tenda Technology Co Ltd, ASUSTek Computer Inc, and Lutron Electronics Company. These key players have adopted strategies, such as product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations, to enhance growth of the market and to increase and strengthen their footprint in the Wi-Fi range extender industry during the forecast period.
The Wi-Fi range extender market share is expected to register substantial growth in the future, owing to increase in demand for the Wi-Fi range extender. The primary objective of installing Wi-Fi range extender is getting connected to the internet irrespective of the location such as school, office, and public areas such as train stations and airports. Such wide applications of Wi-Fi range extenders drives the market growth. Furthermore, the development of smart homes and smart cities is expected to provide growth opportunities for the Wi-Fi range extender market Players.
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The Wi-Fi extender type segment was the largest revenue contributor in 2020, and is expected to grow at a CAGR of 10.5% from 2021 to 2030. This is attributed to the fact that Wi-Fi extender provides better coverage area and easy set up process. Residential application segment is estimated to grow at the highest CAGR of 11.4%, owing to increase in number of connected devices and rise in adoption of smart homes. By region, the Wi-Fi range extender market trends has been analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The analysis identified that North America contributed maximum revenue in 2020. The Wi-Fi range extender market in Asia-Pacific is expected to grow at a faster rate compared to other regions. Factors such as high internet penetration and low cost internet services contribute toward the market growth in the Asia-Pacific region.
The market players such as Netgear Inc, D-Link, Cisco and Lutron are focusing their investment on technologically advanced products. For instance, Lutron launched Caseta Smart Motion Sensor and Caseta Repeater at Consumer Electronics Show (CES) 2020, held in Las Vegas. Caseta Repeater was ideal for homes that needs extra range or coverage for unique room layouts. D-Link launched two new range extenders named AC1750 Mesh Wi-Fi (DAP-1755) and AC1900 Mesh Wi-Fi (DAP-1955), that offers users with built-in processing that reduces congestion and increases network efficiencies.
Covid-19 Impact
The COVID-19 has impacted the global electronics and semiconductor sector, due to which production facility as well as new projects have stalled, which has increased the demand for Wi-Fi range extender in the industries. The emergence of COVID-19 has lowered down the Wi-Fi range extender market growth in 2020, and is estimated to witness decent growth till the end of 2021. Implementation of partial or complete lockdown across various countries globally is the prime reason for the low growth rate.
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Key Findings of the Study
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The residential segment is projected to be the major application growth segment during the forecast period.
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North America dominated the market followed by Europe.
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Asia-Pacific is anticipated to witness highest growth rate during the forecast period.
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U.S. was the major shareholder in the North America Wi-Fi range extender market.
