Global Wi-Fi Hotspot Market Outlook 2031
The global Wi-Fi hotspot market size was valued at USD 1.08 Billion in 2022 and is projected to reach USD 3.80 Billion by 2031, expanding at a CAGR of 15% during the forecast period 2023 - 2031. The growth of the market is attributed to increasing usage of mobile data.
Wi-Fi hotspots are internet access points, which helps one connect to a Wi-Fi network through smartphone tablets or computers in the absence of a office or home network. These hotspots assist people to access internet connections faster than cellular networks.
Wi-Fi Hotspot Market Trends, Drivers, Restraints, and Opportunities:
- Growth of the market is majorly driven by persistent demand for smartphones, tablets, and connected devices.
- Voice, location, video, and content skills are increasing rapidly, which, is estimated to drive the Wi-Fi hotspot market growth.
- Advancement in technology has led to global hotspots being integrated with 3G & 4G, cable, and fiber.
- Need for high-quality experience is rising, which is projected to boost the Wi-Fi hotspot market growth.
- Major factors responsible for the growth of the market are increased speed, increased capacities & quality of service, minimized latencies, and increased mobility.
- Growing inclination towards social media and rising internet penetration are expected to drive the market.
- Security issues related to use of Wi-Fi hotspots are projected to hamper the Wi-Fi hotspot market growth.
- Lack of authentication in public hotspots makes them weak and prone to hacking..
- Rising cases of fraudulent activities such as misconfigured apps, wireless phishing, and data interception are expected to hamper the Wi-Fi hotspot market growth.
- Hackers are anticipated to use Wi-Fi hotspots to spread malware, which is expected to restrain the Wi-Fi hotspot market growth.
Scope of Wi-Fi Hotspot Market Report:
The report on the Wi-Fi hotspot market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Global Wi-Fi Hotspot Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Components (Controllers, Gateways, and Mobile Devices), Services (Installation, Professional, Industrial, Commercial, and Consulting Service), Industry Verticals (IT & Telecom, Healthcare, Education, Transportation, Retail, and Finance), Software (Billing, Security, and Management), End-uses (Service Providers and Network Operators), and Regions
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Ericsson, Samsung Electronics Co., Cisco System., Ruckus Wireless, NovAtel, Huawei Technologies Co. Ltd., Sierra Wireless Inc., Franklin Wireless Corp., ZTE Corp., and NetComm Wireless Ltd
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Market Segment Insights:
The gateways segment is expected to hold a major market share of the total revenue during the forecast period
Based on components, the global Wi-Fi hotspot market share is segregated as controllers, gateways, and mobile devices. The gateways segment is projected to expand at a high CAGR during the forecast period.
The growth of the segment is attributed to high implementation of Wi-Fi hotspots in business and residential segment. Gateways are used to offer authorization, authentication, and accounting for a wired and wireless network. Increased IP traffic and internet-enabled devices are driving the gateway devices market. Additionally, adoption of cloud-based network among several enterprises is expected to boost the market.
The commercial segment is expected to expand at a robust CAGR during the forecast period
On the basis of services, the global Wi-Fi hotspot market share is fragmented as installation, professional, industrial, commercial, and consulting service. The growth of the commercial segment is attributed to rising penetration of internet and increasing usage of smartphones and tablets across various countries in the world.
The retail sector held more than 40% share of the commercial segment. Retailers are opting for Wi-Fi hotspots as a key marketing strategy to improve customer experience. Moreover, retailers are offering free Wi-Fi services to their customers to engage them and gain an edge over competitors. Internet service provided at discounted prices and unlimited data is encouraging the adoption of Wi-Fi at homes.
The industrial segment is expected to expand at a high CAGR during the forecast period. Incorporation of Wi-Fi with home automation and smart home solutions drives the segment.
The IT & telecom segment is expected to hold a major market share of the total revenue during the forecast period
In terms of industry verticals, the global Wi-Fi hotspot market share is classified as IT & telecom, healthcare, education, transportation, retail, and finance. The IT & telecom segment is projected to expand at a rapid pace during the forecast period.
The billing segment is projected to expand at a high CAGR during the forecast period
On the basis of software, the global Wi-Fi hotspot market is segregated as billing, security, and management. The growth of the software segment is attributed to rising adoption of customized software among the consumers.
Moreover, the software systems are used by organizations to track data consumption per user and create bill invoice for the user. The billing software includes the algorithms of billing cycles. Security software identifies and prevents security issues. Several networks are managed centrally by management software.
The market in Asia Pacific is projected to hold a key revenue share during the forecast period
In terms of regions, the global Wi-Fi hotspot market share is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market in Asia Pacific is expected to expand at a robust CAGR during the forecast period.
The market in China is projected to contribute a major share of the regional market. Growth of the market in China is attributed to high demand and low labor cost. Other regions of Asia Pacific are estimated to expand at a rapid pace, owing to advanced infrastructure, which in turn, helps generate high revenues for local manufacturers.
Segments
The global Wi-Fi hotspot market has been segmented on the basis of
Services
- Installation
- Professional
- Industrial
- Commercial
- Consulting Service
Components
- Controllers
- Gateways
- Mobile Devices
Industry Verticals
- IT & Telecom
- Healthcare
- Education
- Transportation
- Retail
- Finance
Software
- Billing
- Security
- Management
End-Uses
- Service Providers
- Network Operators
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Ericsson
- Samsung Electronics Co.
- Cisco System.
- Ruckus Wireless
- NovAtel
- Huawei Technologies Co. Ltd.
- Sierra Wireless Inc.
- Franklin Wireless Corp.
- ZTE Corp.
- NetComm Wireless Ltd
Competitive Landscape
Key players in the global Wi-Fi hotspot market include Ericsson, Samsung Electronics Co., Cisco System., Ruckus Wireless, NovAtel, Huawei Technologies Co. Ltd., Sierra Wireless Inc., Franklin Wireless Corp., ZTE Corp., and NetComm Wireless Ltd.
In August 2015, Ericsson launched wireless LTE service network in island of Saipan. In August 2014, Cisco Systems launched a network for medium-sizes Wi-Fi hotspot setups.
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