The global mobile broadband modem market size is projected to reach USD 48.0 billion by 2032. It is anticipated to showcase a moderate CAGR of 9.9% from 2022 to 2032. The market stood at a valuation of around USD 18.6 billion in 2022.
The COVID-19 pandemic had accelerated the trend toward remote work, as more people than ever before have started working from home or other remote locations. Mobile broadband modems provide a reliable way for remote workers to stay connected to the internet and access company systems & applications from anywhere.
Cost of mobile data has decreased significantly in recent years, making it more affordable for consumers and businesses to access the internet on the go. It has helped to drive growth in the mobile broadband modem market, as more people are able to afford the cost of data plans and devices.
Before the pandemic, around 52% of the workforce worked from home at least once a week. Post-pandemic, however, around 80% of people are working from home at least 3 times a week.
About 16% of companies around the world have adopted permanent work from home. With increasing remote work around the world, mobile broadband modem sales are projected to elevate during the assessment period.
Mobile broadband modems are often used in internet of things (IoT) applications. IoT devices are typically connected to the internet via wireless networks. Mobile broadband modems can provide a reliable and flexible way to connect these devices to the internet.
These modems can also be used for IoT applications in remote or hard-to-reach locations where fixed-line broadband connections are not available. These can be used in IoT to provide a backup internet connection in case of a primary internet outage.
Mobile broadband modems are particularly important for IoT applications that require continuous connectivity such as security systems or industrial monitoring applications.
There were around 8.6 billion IoT connected devices in 2019, which increased to around 13 billion connected devices in 2022. It is projected that the total number of IoT connected devices would reach around 29 billion by 2030. With increasing demand for IoT around the world, need for mobile broadband modems are expected to flourish.
| Attributes | Key Insights |
|---|---|
| Mobile Broadband Modem Market Estimated Size (2022E) | USD 18.6 billion |
| Projected Market Valuation (2032F) | USD 48.0 billion |
| Value-based CAGR (2022 to 2032) | 9.9% |
| United States Value-based CAGR (2022 to 2032) | 8.7% |
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As per Future Market Insights (FMI), the global mobile broadband modem market is anticipated to witness a CAGR of about 9.9% from 2022 to 2032. In the historical period from 2017 to 2021, the market exhibited an astonishing CAGR of 13.1%.
With the proliferation of mobile devices such as smartphones and tablets, more people are using mobile data services to access the internet on the go. It has led to an increased demand for mobile broadband modems that can provide fast and reliable internet connectivity.
Several people travel frequently for work or leisure, and mobile broadband modems allow them to stay connected to the internet while on the move. It is particularly important for business travelers who need to access company resources and stay in touch with colleagues while on the road.
Mobile broadband modems are convenient to use and easy to set up. They allow users to access the internet without the need for cables or fixed-line broadband infrastructure. It further makes them a popular choice for people who value flexibility and mobility.
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Work from Home Practice in the United States to Push Mobile Broadband USB Stick Demand
The United States mobile broadband modem market is expected to be worth USD 7.6 billion by 2032. It is likely to create an absolute dollar growth of USD 4.3 billion till 2032.
The United States market witnessed steady growth at a CAGR of 9.9% from 2017 to 2021. It is anticipated to propel at a CAGR of 8.7% from 2022 to 2032.
Around 26% of employees in the United States were working from home in 2022, and about 16% of the companies in the country have adopted permanent work from home. With increasing remote work in the country, demand for mobile broadband modems is projected to increase. Mobile broadband modems provide a reliable way for remote workers to stay connected to the internet and access company systems and applications from anywhere.
Increasing Online Shopping in the United Kingdom to Push Mobile Broadband Router Demand
The United Kingdom mobile broadband modem market is expected to reach a valuation of USD 1.3 billion in 2032. It is predicted to create an absolute dollar opportunity of USD 719.8 million in the next ten years.
The United Kingdom market showcased average growth at a CAGR of 8.4% from 2017 to 2021. It is expected to flourish at a CAGR of 8.3% in the forecast period.
With more people shopping online in the country, reliable internet connectivity is becoming increasingly important for businesses and consumers alike. Mobile broadband modems can provide a way for businesses to stay connected and process online transactions on-the-go.
Emergence of 5G Network in China to Augment Demand for Portable Broadband Modems
China mobile broadband modem market is projected to cross a valuation of USD 12.2 billion by 2032. The country is likely to create an incremental growth opportunity of USD 8.1 billion between 2022 and 2032.
China witnessed considerable growth at a CAGR of 15.3% from 2017 to 2021. It is expected to surge at a CAGR of 11.4% from 2022 to 2032.
China is a significant country in terms of the adoption of 5G in the world with around 42 million 5G subscribers in 2020. With rapid uptake of 5G in the country, the number of people using 5G is projected to reach around 1.3 billion by 2030.
With increasing availability of 5G technology, there is an expected surge in demand for mobile broadband modems. 5G networks are capable of delivering faster speeds and reduced latency when compared to earlier generations of mobile networks, which makes them a perfect fit for use with mobile broadband modems.
Demand for Standalone Cellular USB Modems to Surge by 2032 with High Usage of the Internet
The standalone mobile broadband modem by type is projected to witness significant growth through 2032. It exhibited growth at a CAGR of 12.6% from 2017 to 2021. It is expected to broaden at a CAGR of 9.8% from 2022 to 2032.
A standalone mobile broadband modem is a device that allows users to access the internet over a cellular network. Unlike smartphones or tablets, which have built-in cellular connectivity, standalone mobile broadband modems are dedicated devices. These are designed to provide internet access to other devices such as laptops, desktops, or routers.
Standalone mobile broadband modems usually connect to a cellular network by using a SIM card. These can provide internet access to other devices over Wi-Fi or via a physical connection such as USB or Ethernet.
These modems are typically used by people who need internet access on the go such as travelers or remote workers. These are also used in areas where traditional broadband connections such as digital subscriber line or cable are not available or unreliable.
Standalone mobile broadband modems provide a convenient and reliable way to access the internet on the go. These do not need a traditional fixed-line broadband connection or a smartphone with a data plan.
Businesses to Extensively Utilize Portable Wi-Fi Modems with Growing Remote Working Trend
Based on application, the business segment is expected to witness a prominent growth rate by 2032. It showcased steady growth at a CAGR of 12.1% from 2017 to 2021. It is anticipated to accelerate at a CAGR of 9.6% from 2022 to 2032.
Mobile broadband modems are commonly used in business settings for a variety of purposes, including remote work, backup internet connectivity, and temporary network access. These are a convenient and reliable way for remote workers to access the internet when working away from the office.
They can be especially useful for employees who travel frequently or work from remote locations where fixed-line broadband is not available. Mobile broadband modems can also serve as a backup internet connection in case of an outage or disruption to the primary broadband connection.
By having a mobile broadband modem on hand, businesses can ensure that they have a reliable backup connection to keep critical systems and applications running. A few businesses use mobile broadband modems to remotely monitor and control devices such as security cameras, vending machines, or industrial equipment.
By providing a reliable internet connection, mobile broadband modems can enable real-time monitoring and control of these devices from a central location. These also offer businesses a flexible and reliable way to stay connected to the internet and enable remote work & access to critical systems and applications.
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Key players are investing in improving the speed and reliability of their products to stay ahead of the competition. It includes optimizing network technology, upgrading hardware & software, and improving signal reception.
A few other companies are partnering with local organizations to expand their market reach and offer more value to customers. It includes collaborations with internet service providers, device manufacturers, and software companies to create comprehensive solutions.
A few recent developments in the mobile broadband modem market are:
| Attribute | Details |
|---|---|
| Estimated Market Size (2022) | USD 18.6 billion |
| Projected Market Valuation (2032) | USD 48.0 billion |
| Value-based CAGR (2022 to 2032) | 9.9% |
| Forecast Period | 2022 to 2032 |
| Historical Data Available for | 2017 to 2021 |
| Market Analysis | Value (USD billion) |
| Key Regions Covered | North America; Latin America; Europe; South Asia & Pacific; East Asia; and the Middle East & Africa |
| Key Countries Covered | United States, Canada, Germany, United Kingdom, France, Italy, Spain, Russia, China, Japan, South Korea, India, Australia & New Zealand, Gulf Cooperation Council Countries, Türkiye, and South Africa |
| Key Segments Covered | Type, Application, and Region |
| Key Companies Profiled | D-Link; Netgear; Motorola; TP-LINK; Cisco-Linksys; Belkin; Huawei; Hewlett-Packard; Minim Inc.; Beetel |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, Market Dynamics and Challenges, and Strategic Growth Initiatives |
The market is valued at USD 18.6 billion in 2023.
D-link and Motorola are key market players.
Business segment is likely to remain preferred through 2033.
Players opt for integration of advanced technologies, mergers and collaborations
China, the United States and the United Kingdom dominate the global market.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2017 to 2021 and Forecast, 2022 to 2032 5. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Type 5.1. Standalone 5.2. Integrated Router 5.3. Smartphones and Tethering 6. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Application 6.1. Gaming 6.2. Business 6.3. Personal 7. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Region 7.1. North America 7.2. Latin America 7.3. Europe 7.4. Asia Pacific 7.5. Middle East and Africa 8. North America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 9. Latin America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 10. Europe Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 11. Asia Pacific Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 12. Middle East and Africa Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 13. Key Countries Market Analysis 14. Market Structure Analysis 15. Competition Analysis 15.1. D-Link 15.2. Netgear 15.3. Motorola 15.4. TP-LINK 15.5. Cisco-Linksys 15.6. Belkin 15.7. Huawei 15.8. Hewlett-Packard 15.9. Minim Inc. 15.10. Beetel 16. Assumptions & Acronyms Used 17. Research Methodology
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Mobile Broadband Modem Market
