New York, NY, Sept. 12, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Mobile Hotspot Router Market by Product (Standalone Devices and Bundled Devices), by End-user (Domestic and Commercial): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017 - 2024”. According to the report, the global mobile hotspot router market was valued at approximately USD 1.92 billion in 2017 and is expected to reach approximately USD 7.07 billion by 2024, at a CAGR of around 20.50% between 2018 and 2024. In terms of volume, the global mobile hotspot router market was 53.53 million units in 2017.
Mobile hotspot router is a wireless device connected through 4G or 3G mobile connections offering high-speed internet services to its users. Mobile hotspot is a technology in smartphones that allows the user to connect internet through the wireless or portable device. Hotspot offers on-the-spot connectivity to the internet with the help of cellular network providers. It helps to connect several gadgets (mobiles, laptops, and computers) to the network with convenient, simple, and fast internet access at any place. The range of connectivity for a mobile hotspot router is 30 to 33 feet and it permits the user to connect several Wi-Fi enabled devices to a single router.
Browse through 107 Tables & 19 Figures spread over 172 Pages and in-depth TOC on “Global Mobile Hotspot Router Market: By Product Type, Size, Share, Industry Trends, Growth, Analysis and Forecast, 2017 - 2024”.
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In the last few years, a tremendous growth has been experienced in the number of wireless users, network access technologies, and its applications globally. Mobile hotspot router market is majorly driven by the consistent demand for wireless broadband services across verticals. Nowadays wireless or mobile broadband services are witnessing significant growth leading to a tremendous rise in data traffic. This rising chunk of data traffic is driven by the escalating number of mobile subscribers, mainly smartphone users. However, issues related to security, authentication, and low connectivity in mobile hotspot router can hamper the growth of the market.
Based on products, the mobile hotspot router market is categorized into bundled devices and standalone devices. The bundled devices segment is expected to be the leading product segment accounting for a substantial share of total volume. Owing to its benefits such as independence on any hardware like modem, computer, or any other device, standalone devices is estimated to grow substantially. Domestic and commercial are the end user segments of mobile hotspot router market. Consistent increase in data storage synchronization with popular cloud-based applications such as Google Drive will spur the adoption of mobile hotspot router globally. In coming years, common home and office devices such as printers will be making their move to be wireless, from wired connections. This will create ample opportunities in the domestic as well as the commercial sector for the product.
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Asia Pacific holds a leading position in the global mobile hotspot router market with more than 30% share in terms of revenue, owing to the increasing population coupled with consistently escalating number of mobile subscribers and high adoption of mobile internet in the region. China and India are among the leading countries having the largest mobile subscribers in the world. Manufacturing of low-cost smartphones, 5G rollouts, and supply of different applications from the leading vendors are the prominent factors increasing internet adoption in the region.
The Asia Pacific is anticipated to continue its growth in the estimated time frame. Rapid economic and industrial development in the region, as well as digitalization of various government schemes and affordability of communication services, are playing an important role in the growth of the mobile hotspot router market. According to a study, India’s Wi-Fi growth will be 7 times faster as compared to the global market; this will result in the high adoption of mobile hotspot routers.
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North America and Europe together contributed over 50% of the market share in 2015. The mobile hotspot router market progress in North America is fuelled by affordable devices due to the strong economy and growing range of new services & applications in wireless communication. Various products are launched in North America, as it is home to most of the leading players in the mobile hotspot router market. For instance, NETGEAR, the leading provider of networking devices and equipment, in collaboration with AT&T launched the first of its kind 5G Evolution mobile hotspot router in the U.S.
Europe is expected to depict significant growth during the forecast period owing to the high adoption rate of mobile hotspot routers by domestic users in the region. In the United Kingdom, wireless router Wi-Fi penetration rate has seen almost three-fold growths to 95% in 2016 as compared to 34% in 2007. European Union has a remarkable number of internet users in the region having a penetration rate of over 80%, which is expected to grow in coming years thus fueling the growth of mobile hotspot router market in the region.
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Latin America and the Middle East and Africa are expected to witness moderate growth in the mobile hotspot router market during the forecast period. Shifting technological preferences in young population coupled with increasing demand for mobile hotspot router is expected to fuel the growth of the product within the estimated period. In recent years, Latin American mobile operators had launched numerous 4G networks in the region. As of 2017, the region accounts for nearly 25% of 4G connectivity coverage, including large markets such as Brazil and Argentina. Cellular mobile operators are expected to invest nearly USD 70 billion in their networks to expand 4G connectivity in the region. These factors are anticipated to boost the sales of mobile hotspot routers in the Latin American market.
Key players operating in the global mobile hotspot router market includes NETGEAR, TP-Link Technologies Co., Ltd., D-Link Corporation, Novatel Wireless, Inc., Huawei Technologies Co., Franklin Wireless, Samsung Electronics, ZTE Corporation, Sierra Wireless, and ConnecteDevice Ltd.
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The report segments the global mobile hotspot router market as follows:
Mobile Hotspot Router Market: Product Segment Analysis
- Standalone Devices
- Bundled Devices
Mobile Hotspot Router Market: End-User Segment Analysis
- Domestic
- Commercial
Mobile Hotspot Router Market: Regional Segment Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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