Smart devices that are capable of securing connected systems from various internet-based threats including malware, hackers and viruses are usually referred to as home Wi-Fi security solutions. Such security components are connected to the wireless networks used privately by single or multiple users, irrespective of their broadband or wireless service provider. Moreover, such devices can be controlled remotely or in the home through tablets, PCs and smartphone using secure logins.
Many of the latest home Wi-Fi security systems come with features such as setting up data usage limitations, site and apps blocking, internet stop button, parental lock, weekly usage report and per device profiles. In addition, these systems are capable of shielding connected devices at homes from malware attack, hackers, phishing activities and virus attack. Factors such as rising number of internet subscribers and smart device users is fueling the demand for home Wi-Fi security solutions in the Asia Pacific region, especially in countries such as India, China and in the ASEAN zone. Over the past couple of years, the APAC region has been witnessing a penetration of the Internet. As a result, prevalence of commercial-scale cyber-crime networks and toolkit for virus and malware related threats have also escalated. According to Future Market Insights latest report, the market for home Wi-Fi security solutions in APAC stood at US$ 8,050.3 in 2015, which is anticipated to register a compound annual growth rate of over 12% between 2016 and 2026. Growing need for improved Wi-Fi security solutions owing to an alarming rise in unethical practices and cyber-crime couple with the introduction of the attractive data offers by service providers are boosting the growth of the market in the region.
Demand for hardware Wi-Fi security solutions are likely to remain robust in the APAC in the near future. At the same time, companies that manufacture these devices are also focusing on integrating cutting edge features such as home modes and use of advanced analytics. Based on home network architecture, sale of Wi-Fi router sub-segment have significant high but demand for router and modem as one device (combo) segment is also projected gain traction in the years to come.
Among the key countries in the APAC region, in 2015, the market for home Wi-Fi security solutions in India was the largest and hence accounted for the highest vale share of the market in the entire region. This is primarily due to the rising adoption of advanced software and leading edge security models developed by top enterprise and critical infrastructure organizations existing in the country to meet consumer expectations. Further, the mushrooming of telcos and cable companies in India attributed to increasing mergers and acquisitions and entering of new market players. These new entrants are extremely competitive and use aggressive marketing strategies to increase their subscriber base.
A slew of startups are leveraging the Internet of things (IoT) and smart home technology in order develop new business models and innovative products. Some of the leading players operating in the APAC’s home Wi-Fi security solutions market are; Koalasafe Inc., Keezel, Cujo LLC, Eero Inc., and Luma Home Inc.
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