The global mobile hotspot router market is anticipated to be valued at USD 6,369.5 Million in 2022, forecast a CAGR of 16.6% to be valued at USD 29,550 Million from 2022 to 2032. Growth is attributed to the increasing usage of IoT-based applications. From 2016 to 2021 a CAGR of 14.6% was registered for the mobile hotspot router market.
| Data Points | Key Statistics |
|---|---|
| Growth Rate (2016 to 2021) | 14.6% CAGR |
| Projected Growth Rate (2022 to 2032) | 16.6% CAGR |
| Expected Market Value (2022) | USD 6,369.5 Million |
| Anticipated Forecast Value (2032) | USD 29,550.0 Million |
Recent technical advancements in wireless standards and growing demand for mobile broadband services triggers the rapid demand for mobile hotspot router in the global market. A mobile hotspot router is a device that connects to the Internet through 3G or 4G LTE services to share the wireless network connection with other Wi-fi-enabled devices.
Most portable hotspot devices use the 3G and 4G signals from network providers to enable the connection. Mobile Wi-fi hotspots therefore often need a SIM card that provides the connectivity. The mobile hotspot routers are equipped with an in-built battery with a pocket-friendly design.
Mobile hotspot routers also come with LCD screens, which display network strength, status messages, hotspot name data usage, and a number of connected devices. Mobile hotspot routers are charged using a USB cable and can be connected to laptops and other devices via a USB cable to access the internet.
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Technological Advancements in Connected Devices to Fuel Industry Expansion
Increasing demand for wireless broadband, increasing smartphone users, and growing awareness of the pay-as-you-go business model are the key factors contributing to the growth of the mobile hotspot router market globally. Increasing business travelers, expanding Wi-Fi-enabled smart devices, the growing trend of including Wi-Fi access in transportation services, and increasing adoption of long-term evolution (LTE) services are further accelerating the demand for the mobile hotspot router market globally.
Also, increasing preference for online services and continuous investment in communication infrastructure are expected to fuel the growth of the global mobile hotspot router market.
Rising disposable income increases the probability of consumer spending on media, entertainment, networking, and mobile communication - leading to higher potential sales of mobile hotspot routers. The global market is expected to witness substantial growth over the forecast period owing to advancements in the electronic, telecommunication, and e-commerce industries.
Although the mobile hotspot router market has numerous end-uses, there are numerous obstacles that likely pose a challenge to market growth. The cost and complexities related to the development of the product will hinder the growth of the market in the forecasting period.
However, limited Wi-Fi signal range, security, issues related to authentication, network performance, and increasing availability of public hotspots are identified as the restraints likely to deter the progression of the mobile hotspot router market globally.
Factors hindering the growth of the global mobile hotspot router market, are fluctuating price of raw materials being used to manufacture switches and the presence of low-quality cheap products by other manufacturers in the market key restraints of the global mobile hotspot router market.
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Rapid Development in Technology to Drive the Growth of the Market in the Forecast Period
North America dominated the global mobile hotspot router market in 2022. The region is likely to account for a market share of 38.6% in global enterprise key management market. Rapid digitalization, along with the rising demand for wireless and mobile broadband services, is one of the key factors driving the growth of the market.
Region-wise, North America is anticipated to dominate the global market over the forecast period owing to the increasing number of mobile subscribers and high internet penetration mainly smartphone users. The increase in disposable incomes of middle-class households in the region is expected to augment the mobile hotspot router market.
Presence of Leading Market Providers in the Region Market Growth
According to Future Market Insights, Europe is expected to provide immense growth opportunities for the mobile hotspot router market, due to an increase in sales of hotspot routers in the European region being fueled by technological developments and a growing consumer electronics market.
The Europe mobile hotspot router market will likely account for a 23.1% share of the total global market in 2022. The growing demand for more advanced handheld devices such as smartphones and tablets is expected to create demand for technologies with high internet speed. This, in turn, is expected to drive the growth of the mobile hotspot router market.
For instance, NETGEAR®, Inc. launched the NETGEAR AirCard® 790 Mobile Hotspot (AC790) in Europe. It is the first unlockedmobile hotspot to provide ultra-fast Category 6 4G LTE speeds combined with the latest 802.11ac WiFi that also offers complete freedom of choice in wireless service providers.
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Increasing Digitalization in The Region Boost the Market Growth in Coming Years
Asia Pacific is expected to show high growth rates in the next five years in the mobile hotspot router market. Some of the factors driving the growth of mobile hotspot routers in emerging markets are, rapid advancements being made in technology coupled with increasing investments in research and development is anticipated to further drive the market.
A significant change in lifestyle and increased smartphone penetration in the region are expected to drive the Asia Pacific mobile payment transaction market. Furthermore, there is an increasing involvement by the public authorities in this region to make the transaction an easy process, and they are making all efforts from their end to go cashless and promote digital transactions.
The new entrants in the mobile hotspot router market are continually indulging in several collaborations and highly investing in research and development activities to provide more convenient solutions to industry verticals. Some of the major start-ups that are leading the development of the market are- Milesight IoT, Four-Faith, Smile MBB,
Some of the key participants present in the global mobile hotspot router market include Huawei Technologies Co., Ltd., Novatel Wireless, Inc., NETGEAR, TP-Link Technologies Co., Ltd., Belkin International, Inc., Internet on the Go, Karma Mobility, Inc., D-Link Corporation and XCom Global, Inc. Alcatel, among others.
Attributed to the presence of such a high number of participants, the market is highly competitive. While global players such as Huawei Technologies Co., Ltd., Novatel Wireless, Inc., NETGEAR, TP-Link Technologies Co., Ltd., and Belkin International, Inc. account for considerable market size, several regional-level players are also operating across key growth regions, particularly in Asia Pacific.
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 16.6% from 2022 to 2032 |
| Expected Market Value (2022) | USD 6,369.5 Million |
| Anticipated Forecast Value (2032) | USD 29,550.0 Million |
| Base Year for Estimation | 2021 |
| Historical Data | 2016 to 2021 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million, and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Type, End-user, Region |
| Regions Covered | North America; Latin America; Europe; Asia Pacific; Middle East and Africa |
| Key Countries Profiled | The USA, Canada, Mexico, Brazil, Germany, Italy, France, The United Kingdom, Spain, China, Japan, South Korea, Malaysia, Singapore, Australia, New Zealand, GCC, South Africa, Israel |
| Key Companies Profiled | Huawei Technologies Co., Ltd.; Novatel Wireless, Inc.; NETGEAR; TP-Link Technologies Co., Ltd.; Belkin International, Inc.; Internet on the Go; Karma Mobility, Inc.; D-Link Corporation; XCom Global, Inc.; Alcatel |
| Customization | Available Upon Request |
FMI projects the global mobile hotspot router market to expand at a 16.6% value CAGR by 2032
North America is expected to be the most opportunistic with a 38.6% share of the total mobile hotspot router market
Huawei Technologies Co., Ltd., Novatel Wireless, Inc., NETGEAR, TP-Link Technologies Co., Ltd., Belkin International, Inc. are some prominent mobile hotspot router, market manufacturers.
1. Executive Summary | Mobile Hotspot Router Market 2. Market Overview 3. Market Background 4. Global Market Analysis 2016 to 2021 and Forecast, 2022 to 2032 5. Global Market Analysis 2016 to 2021 and Forecast 2022 to 2032, By Type 5.1. Standalone devices 5.2. Bundled devices 6. Global Market Analysis 2016 to 2021 and Forecast 2022 to 2032, By End User 6.1. Domestic users 6.2. Commercial users 7. Global Market Analysis 2016 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 (MEA) 8. North America Market Analysis 2016 to 2021 and Forecast 2022 to 2032, By Country 9. Latin America Market Analysis 2016 to 2021 and Forecast 2022 to 2032, By Country 10. Europe Market Analysis 2016 to 2021 and Forecast 2022 to 2032, By Country 11. Asia Pacific Market Analysis 2016 to 2021 and Forecast 2022 to 2032, By Country 12. MEA Market Analysis 2016 to 2021 and Forecast 2022 to 2032, By Country 13. Key Countries Market Analysis 14. Market Structure Analysis 15. Competition Analysis 15.1. Huawei Technologies Co., Ltd 15.2. Novatel Wireless 15.3. NETGEAR 15.4. TP-Link Technologies Co., Ltd. 15.5. Belkin International, Inc. 15.6. Internet on the Go 15.7. Karma Mobility, Inc. 15.8. D-Link Corporation 15.9. XCom Global, Inc. 15.10. Alcatel 16. Assumptions & Acronyms Used 17. Research Methodology
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Mobile Hotspot Router Market
