Home Networking Device Market — The Opportunities and Areas to Work On

The demand for connectivity in a home is only expected to increase over time and is further supplemented by the increasing bandwidths offered by service providers. Both factors are expected to play a crucial role in the development of home networking devices. Wireless connected home appliances, wearable devices, mobile devices, and healthcare monitors form the bulk of all home networking devices that are in high demand. This will be the primary driver for the proliferation of home networking devices.
Another driver expected to have a greater impact in the near future is the trend of product upgrade. Connected devices are improving in hardware specifications at a very fast pace. Additionally, the improvements in connectivity networks and bandwidth, such as the recent upgrade to the 802.11ac protocol, have promoted the trend of replacing devices at a faster rate.
Asia Pacific has shown a meteoric rise in its usage of connected devices over the recent past. As of 2016 it is the leading consumer region for home networking devices and is expected to continue leading in this market till 2023. By the end of 2023, the Asia Pacific demand for home networking devices is expected to reach 451.6 mn units.
Two reasons responsible for this region’s high volume of home networking devices consumption is its high population density pockets in the urban areas of emerging economies such as India and China. Additionally, these consumers are becoming increasingly capable of purchasing better quality devices due to a rising amount of disposable income.
Till recent times, a large number of consumers in emerging economies still preferred wired networks to wireless ones, owing to their higher cost. This is expected to change as wireless networking gets cheaper over time.

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