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Home Wi-Fi Security Solutions Market to Exhibit US$ 107.6 Bn by 2032 Owing to Widespread Usage of Smart Gadgets Globally | Future Market Insights, Inc.

Wednesday, 12 October 2022 10:00 AM

Future Market Insights, Inc.

North America is expected to dominate the global home Wi-Fi security solutions market, reaching around ~US$ 31.3 Bn by 2032. However, South Asia & Pacific home wi-fi security solutions market is anticipated to grow at the highest CAGR of 21.1% during the forecast period of 2022-2032.

NEWARK, DE / ACCESSWIRE / October 12, 2022 / The global home wi-fi security solutions market is expected to grow at a phenomenal CAGR of 16.7% over the projection period from 2022 to 2032. The global market size reached US$ 19.9 Bn in 2021 and is anticipated to touch a valuation of US$ 23.0 Bn in 2022.

The market is likely to surpass a valuation of US$ 107.6 Bn by 2032. Growth in the home wi-fi security solutions market is anticipated to grow with the rising need for securing wi-fi in order to protect devices from getting hacked. Impressive growth in the demand for home wi-fi security solutions is witnessed all over the globe resulting in increased sales.

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As compared to the historical analysis ranging from 2017 to 2021, the global home wi-fi security solutions market registered a CAGR of 15.2% whereas, during the current estimation period from 2022 and 2032, the global market is expected to rise to 16.7% CAGR.

The growth in the market is attributed to the rising penetration of the internet all over the world along with the growing usage of IoT devices, and increased adoption of Wi-Fi protection systems are some of the key factors driving the global home wi-fi security solutions market.

At present, the home Wi-Fi security solutions market holds for around 34.0% of the global home security solutions market and this number is expected to further increase over the next ten years due to the rising adoption of various wireless security solutions across homes.

The extensive adoption of home wi-fi security solutions is taking place to efficiently secure wireless connections. They keep data hidden and protect communications while blocking hackers from users' networks.

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Key Takeaways

  • The widespread usage of smart gadgets is expected to be one of the key elements for the expansion of the home wi-fi security solutions market. The rising demand for smart devices like Amazon Echo, Alexa, Google Home, smart TVs, home theatres, fitness bands, and other products is increasing at a robust pace and the trend is likely to continue during the upcoming years. Nowadays internet users and smart devices are integrated due to rising usage, and a substantial surge in the demand for internet users is predicted.
  • The internet is responsible for connecting various smart devices which allow users to control features like home security access, temperature, lighting, HVAC control, and entertainment. Extensive utilization of smart gadgets makes it easy to multitask, gives users the power to drastically find information and answers, assists in setting reminders and appointments, and much more.
  • Therefore, with the surging penetration of the internet and smart devices all over the world, a substantial surge in overall home security systems is predicted to bolster growth in the market during the forecast period.
  • Increasing usage of IoT devices and rising internet penetration are expected to encourage people to install home Wi-Fi security solutions and this trend is likely to bode well for the market in the near future.
  • The internet is known to be a boon as it offers so many benefits in daily life, from staying in touch to picking up new skills and protecting houses. Around 5 billion individuals worldwide currently have an internet connection. Due to the widespread usage of the internet across the globe, the need for home wi-fi security solutions is on the rise.
  • With the assistance of a smartphone combined with the availability of the internet, it is convenient to manage and automate numerous IoT devices from a distance. The internet of things (IoT) gadgets is used to efficiently convey information like room temperature, voltage supply, energy usage, live video stream, etc. to the smartphone app and facilitate remote monitoring of homes.

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Competitive Landscape

Prominent players in the home Wi-Fi security solutions market are heavily investing in innovation, research, and development practices. They are also adopting strategies such as launching new security solutions and establishing partnerships and collaborations to gain a competitive edge in the market.

More Insights into the Home Wi-Fi Security Solutions Market

The U.S. is expected to dominate the global home wi-fi security solutions market by exhibiting a growth rate of over 13.8% CAGR during the forecast period, reaching a valuation of around US$ 6.8 Bn in 2022. Growing security concerns due to the rise in cyberattacks and the increasing adoption of advanced technologies are some of the key factors driving growth in the U.S. market.

Future Market Insights, Inc., Wednesday, October 12, 2022, Press release picture
Home Wi-Fi Security Solutions Market

Home Wi-Fi Security Solutions Market Outlook by Category

By Component:

  • Hardware
  • Software

By Network Architecture:

  • Wi-Fi router
  • Modem and router as one device
  • Modem and router as separate device
  • Wi-Fi range extender

By Home Type:

  • Independent Homes
  • Condominiums/ Apartments

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Table of Content

1. Executive Summary

1.1. Global Market Outlook

1.2. Demand Side Trends

1.3. Supply Side Trends

1.4. Analysis and Recommendations

2. Market Overview

2.1. Market Coverage / Taxonomy

2.2. Market Definition / Scope / Limitations

3. Key Market Trends

3.1. Key Trends Impacting the Market

3.2. Home Wi-Fi Security Solutions Innovation / Development Trends

4. Pricing Analysis

4.1. Pricing Analysis, Solution

4.2. Global Average Pricing Analysis Benchmark

Read Full TOC…

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WiFi as a Service Market: The WiFi as a service market is anticipated to have an effective CAGR of 18.2% during the period of 2022-2032.

Smart Home Solutions Market: The global smart home solutions market is likely to be valued at US$ 78,342.6 million in 2022 and is predicted to secure a rapid-paced CAGR of 12.3% during the forecast period. The market is expected to grow at a value of US$ 2,50,456.9 million by 2032.

WiFi Extenders Market: The global WiFi extenders market is projected to be appraised at US$ 3,929.7 million by 2032, up from US$ 1,572.4 million in 2022, advancing at a CAGR of 9.6% from 2022 to 2032.

About Future Market Insights, Inc.

Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.

Contact:

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware - 19713, USA
T: +1-845-579-5705
For Sales Enquiries: [email protected]

SOURCE: Future Market Insights, Inc.

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