Future Market Insights has announced the addition of the “Home Wi-Fi Security Solutions Market: APAC Industry Analysis and Opportunity Assessment, 2016-2026"report to their offering
Valley Cottage, NY -- (SBWIRE) -- 03/16/2019 -- APAC home Wi-Fi security solutions market revenue is expected to expand at a year-over-year rate of 9.3% in 2016 over 2015 and surpass US$ 8,824.9 in revenues. India, the largest market for home Wi-Fi security solutions in APAC, will continue to witness strong growth rates in 2016.
Growing subscriber base for internet usage and smart devices will continue to fuel the growth of Wi-Fi security solutions market in the region. In addition, increasing internet penetration, and development of cyber-crime networks and commercial-scale toolkits that create malignant malware are influencing individuals to install home Wi-Fi security solutions. Mounting concerns over growing cybercrimes are also anticipated to play a key role in driving the growth of the home Wi-Fi security solutions market in APAC.
Home Wi-Fi security solutions are smart security devices, capable of protecting connected devices from various virtual intrusions such as viruses, malware and hackers. These security devices are connected to the wireless Internet network, and services can be availed by any customer, irrespective of their wireless or home broadband service provider. Devices can be managed either in the home, or remotely via smartphones, tablets, or PCs, using a secure login.
This study is focused on a particular type of home Wi-Fi security solution, which is plug and play devices, compatible with home Wi-Fi routers. These home Wi-Fi security solutions offer features such as setting up schedules for Internet usage, apps and site blocking, parental insights, Internet stop button, per device profiles and weekly usage report. Additionally, these devices can block connected devices in home from virus attacks, malware, hacker attacks and phishing activities.
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Growing subscriber base for smart devices and Internet use is driving growth of the APAC home Wi-Fi security solutions market. Since the last decade, Internet penetration has increased ten-fold in countries such as India, Indonesia and Malaysia. Consequently, development of commercial-scale toolkits and cyber-crime networks, focusing on monetization of malware and related threats, have amplified the risks of cybercrimes.
The APAC home Wi-Fi security solutions market was valued at US$ 8,050.3 in 2015 and is expected to expand at a CAGR of 12.7% during the forecast period (2016–2026). Increasing need for enhanced security due to alarming increase in cyber-crimes and unethical practices and attractive policies offered by service providers to residents for installation of Wi-Fi and broadband services are propelling growth of this market.
The APAC home Wi-Fi security solutions market is classified on the basis of component and home network architecture. On the basis of component, the market is segmented as hardware and software. The hardware sub-segment was valued US$ 6,875.8 in 2015 and is anticipated to register a CAGR of 12.4% during the forecast period. Presently, hardware sub-segment in APAC market dominates in terms of revenue share contribution. However, device manufacturers are also continuously incorporating advanced features such as advanced usage analytics and "homework mode", which is propelling revenue growth of the software sub-segment.
On the basis of home network architecture, the APAC market is segmented as Wi-Fi router, modem and router as one device, modem and router as separate device and Wi-Fi range extender. The Wi-Fi router sub-segment accounted for highest market share at 48% in 2015. However, modem and router as one device (combo) segment is expected to register a healthy CAGR of 13.8% during the forecast period.
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Country-wise Analysis on Home Wi-Fi Security Solutions
Among the countries in APAC region, India was the largest market for home Wi-Fi security solutions and accounted for largest share of total home Wi-Fi security solutions market in 2015. This growth is primarily attributed to increased adoption of improved software development and enhanced security models by critical infrastructure organizations and leading enterprises in the country to gain consumer confidence. Additionally, in India, an increasing number of telcos and cable companies are entering the market, either through mergers and acquisitions, or by offering Internet services as their own. These new entrants are increasing the competitive rivalry in the market and are posing threats to existing ISPs.
Home Wi-Fi Security Solutions: Competitive Landscape
A bevy of new startups are leveraging smart home technology and Internet of things (IoT) to introduce innovative products and new business models for the home security market. Some key players in the home Wi-Fi security solutions market include Cujo LLC, Koalasafe Inc., Eero Inc., Keezel, Luma Home Inc. and Securifi.