The global Wi-Fi Hotspot Market is anticipated to grow at the rate of 18.5% CAGR to reach a valuation of USD 9.83 billion by 2027, from its valuation of USD 2.13 billion in 2019. Advent and commercialization of the 5G network technology are anticipated to boost the market’s growth as the introduction of Wi-Fi-based routers and modems in the enterprises is likely to augment the speed, bandwidth, and access to the internet on the premises. The advent of Bring Your Own Device (BYOD), the rising number of mobile applications, and the advancements in the network infrastructure are driving the demand for Wi-Fi hotspot solutions.
Wi-Fi Hotspots enables the small, large, and medium enterprises to manage their networks at minimal expenses. A Wi-Fi hotspot is a physical location or area where individuals can get access to the internet through Wi-Fi technology, assisted by the wireless local area network. Wi-Fi hotspots are critical to enterprises as they enhance data transmission, provide access to various applications, and offer seamless results. The market growth is predominantly driven by the rising demands for tablets, next-gen smartphones, and the rising use of connected devices.
However, security issues surrounding the extensive application of the wireless networks and increasing incidences of fraudulent data transmissions, phishing, and misconfigured APs, is anticipated to hinder the growth of the market over the coming years. Additionally, high investments and expensive maintenance costs, coupled with enormous data volumes, are presumed to halt the market’s growth further.
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Further Key Findings from the Report Suggests:
- The global Wi-Fi Hotspot Market is anticipated to grow at the rate of 18.5% CAGR to reach a valuation of USD 9.83 billion by 2027, from its valuation of USD 2.13 billion in 2019.
- The advent of Bring Your Own Device (BYOD), the rising number of mobile applications, and the advancements in the network infrastructure are driving the demand for Wi-Fi hotspot solutions.
- Advent and commercialization of the 5G network technology are anticipated to boost the market’s growth as the introduction of Wi-Fi-based routers and modems in the enterprises is likely to augment the speed, bandwidth, and access to the internet on the premises.
- With the enhancement in quality and advent of advanced technology, the global hotspots are seamlessly integrating with the conventional data networks such as 3G or 4G, cable, and fiber. This is anticipated to bolster the growth of the Wi-Fi hotspot market exponentially.
- However, security issues surrounding the extensive application of the wireless networks and increasing incidences of fraudulent data transmissions, phishing, and misconfigured APs, is anticipated to hinder the growth of the market over the coming years.
- Based on the component, the hardware segment is anticipated to show significant growth over the coming years due to the rising deployment of Wi-Fi routers and modems in the residential and business sectors.
- The software segment is also anticipated to show significant growth driven predominantly by the rising adoption of software solutions among enterprises and the residential sector to manage access to Wi-Fi hotspots.
- Based on services, the segment is presumed to register a significant growth rate during the forecast period owing to the increasing need for third-party service providers among various organizations. The increased trend of companies outsourcing their IT infrastructure management services to minimize capital expenditures on installation and maintenance of the infrastructure is further fueling the market growth.
- Based on the applications, the commercial segment is presumed to grow significantly due to the rising penetration of the internet and smartphones worldwide.
- Based on the regional analysis, Europe held the largest share of the market in 2019 and is anticipated to dominate the market in the projected timeline. This can be attributed to the massive adoption of Wi-Fi hotspots in public places, the existence of high-end network infrastructure, and the rising deployment of 5G networks across the region.
- North America is anticipated to closely follow Europe, attributable to the advancement in enterprise mobility and extensive deployment of public Wi-Fi hotspots.
- Asia Pacific is expected to show massive growth in the coming years, accredited to the rising number of mobile subscribers, increasing use of smart and connected devices, and the increasing internet penetration.
- Some prominent industry players are Nokia Networks, Ipass, Aptilo Networks, Alcatel-Lucent, Ericsson, Motorola Solutions, Boingo Wireless, Netgear, Ruckus Wireless, Cisco Systems, Ubiquiti Networks, and Aruba Networks.
Increasing adoption of technologically upgrade and advanced devices among users and rising penetration of internet has led to generation of massive amount of data across various industries and sectors. Growing demand for enhanced data security and privacy has contributed to the revenue growth of the market. In addition, rising application of the Internet of Things (IoT) and usage of business intelligence have further fueled market growth. Developments across various segments such as internet, wireless networks, computers, software, social networking, and other services have impacted the growth of the information and communication technologies market.
ICTs refer to the amalgamation of media technology with computer networks through cables or link systems. Key emerging trends such as use of IoT, media systems, and information and communication technologies in different sectors such as agriculture, financial services, and meteorological data collection, among others have also boosted revenue growth. The advent of artificial intelligence and robotics have further brought evolution in the ICT industry.
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By Component (Revenue, USD Million; 2017–2027)
- Wireless Hotspot Gateways
- Wireless Hotspot Controller
- Mobile Hotspot Devices
- Centralized Hotspot Management
- Cloud-based Hotspot Management
- Wi-Fi Hotspot Billing Software
- Wi-Fi Security Software
By Application (Revenue, USD Million; 2017–2027)
- Telecom & IT
- Financial Services
By Services (Revenue, USD Million; 2017-2027)
- Professional Services
- Installation Services
- Managed Services
Key players dominating the global Wi-Fi Hotspot market are focusing on development and advancement in software and security technologies to cater to the growing consumer demand. Factors such as rapid economic growth, shifting consumer preference, and rapidly changing market dynamics have also accelerated market revenue growth. The report sheds lights on the key strategic initiatives such as mergers and acquisitions, collaborations, partnerships, product launches, corporate deals, and agreements undertaken by the key companies. The report also offers insights into market share, market size, and revenue growth in key regions of the globe.
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Regional analysis covers:
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- Rest of MEA
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Head of Business Development
Direct Line: +1-212-710-1370
E-mail: [email protected]
Reports and Data | Web: www.reportsanddata.com