The Europe Routing Market would witness market growth of 7.0% CAGR during the forecast period (2021-2027).
Consumer demand for high internet connectivity technologies is directly proportional to the adoption of connected devices in the healthcare, education, and BFSI industries. In recent years, there has been increased adoption of bring-your-own-device policies among SMEs. Moreover, governments around the world have rolled out many initiatives towards smart city projects, which would need superior broadband. On the flip side, factors such as high installation costs for routers and issues such as overheating and overloading of routers would act as barriers to the growth of the overall market.
Moreover, the Internet of Things (IoT) and shifting consumer preferences toward the purchasing of various devices and wearables that can operate and perform a variety of activities with internet access are expected to propel the wireless router market forward over the forecast period.
According to the International Telecommunication Union, Europe has the greatest internet usage rates in 2019, with approximately 82.5 percent of Europeans utilizing the internet. As of 2019, the internet had reached approximately 84.9 percent of the male population and approximately 80.3 percent of the female population. Around 86.5 percent of European households have access to the internet, when approx. 78 percent of European homes own a computer. Moreover, DSL internet subscriptions were used by 18.8 people out of every 100 people in Europe on average. In recent years, the region has seen an increase in the adoption of smart gadgets and the internet, indicating the need for reliable and secure internet connectivity. Moreover, due to advancements in broadband and mobile infrastructures, the mobile workforce and BYOD trend are growing in the region.
The Germany market dominated the Europe Routing Market by Country in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $1,411.8 Million by 2027. The UK market is poised to grow at a CAGR of 6.1% during (2021 - 2027). Additionally, The France market would display a CAGR of 7.8% during (2021 - 2027).
Based on Type, the market is segmented into Wireless and Wired. Based on Placement, the market is segmented into Edge, Core, and Virtual. Based on Application, the market is segmented into Enterprise and Datacenter. Based on Vertical, the market is segmented into BFSI, Healthcare, Education, Residential, Media & Entertainment, and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Routing Market Size will Hit $22.7 Billion by 2027, at a CAGR of 7.8%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Arista Networks, Inc., New H3C Technologies Co., Ltd., Xiaomi Corporation, Cisco Systems, Inc., Juniper Networks, Inc., Huawei Technologies Co., Ltd., Nokia Corporation, ASUSTeK Computer, Inc., Netgear, Inc., and Hewlett-Packard Enterprise Company.
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