The growing usage of internet services amongst the individuals is also projected to boost the growth of the mobile hotspot router market. For instance, it was observed that the total number of individuals using the internet grew from 8% of total population in 2001 to 49% of total population in 2017. Moreover, the increasing demand for high-speed internet amongst the individuals, has led to a rise in the deployment of 5G network technology by the organizations operating in the field of telecom, as this technology provides internet access at very high speeds. Such factors, are further expected to contribute to the growth of the mobile hotspot router market. Experts estimate that by 2023, more than 1.2 billion of total internet connections will account to 5G. Further, one-third of the world is projected to be covered with 5G connectivity by the end of 2023.
The global mobile hotspot router market is segmented into type such as standalone devices and bundled devices. Among these segments, bundled devices segment is expected to capture the largest market of mobile hotspot router during the forecast period i.e. 2016-2023. Further, bundled devices segment captured 70% share of total volume consumption in 2014. Apart from this, stand-alone devices segment is envisioned to expand at a remarkable pace owing to its advantages such as it is independent of any hardware like computer and others.
Global mobile hotspot router market is expected to register a CAGR of 20.2% over the forecast period. Moreover, the global mobile hotspot router market is projected to expand at USD 5.1 billion globally by the end of 2023. Additionally,government initiatives such as development of smart cities are anticipated to flourish the growth of mobile hotspot router market.
In terms of regional platform, with 40% share in overall volume consumption in 2015, Asia-Pacific region grabbed the biggest market of mobile hotspot router. Moreover, growing population coupled with increase in sale of electronic gadgets in this region is predicted to augment the demand for mobile hotspot router. Additionally, North America and Europe region are believed to grow at a tremendous pace by 2023 owing to enhanced connectivity infrastructure.
Increasing Use of Electronic Gadgets
Evolution of electronic gadgets along with integration of numerous features and growing adoption of electronic gadgets such as laptops and tablets are expected to supplement the growth of mobile hotspot router market. Furthermore, the escalating demand for better network infrastructure is also projected to intensify the growth of mobile hotspot router market.
Technological advancement in network technology
Rapid urbanization coupled with advancement in network technology is also positively impacting the growth of mobile hotspot router market. In addition to this, increasing demand for wireless broadband, increasing smart phone users and increasing adoption of long term evolution (LTE) services are projected to be the dynamic factor behind the rapid growth of mobile hotspot router market. Likely, continuous research and development activities to develop technologically advanced products with long battery life and wide range of connectivity is one of major factor bolstering the growth of mobile hotspot router market by 2023.
On the contrary, low connectivity along with poor network performance is anticipated to hamper the growth of mobile hotspot router market across the globe. Moreover, less adoption of advanced technology in underdeveloped nations is also believed to restrain the demand for mobile hotspot router.
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Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the global mobile hotspot router market which includes company profiling ofHuawei Technologies, NETGEAR, TP-LINK Technologies, ZTE Corporation, Beetel Teletech Limited, Alcatel, Hame, Karma, Belkin International, Inc., and Novatel Wireless, Inc. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments.
On the whole, the report depicts detailed overview of the global mobile hotspot router market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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