North America Wi-Fi Hotspot Market is Expected to Hold More than 25% of Industry Share by 2024 | Aerohive Networks, Alcatel Lucent, Belkin International, Cisco, Ericsson, NETGEAR, Nokia, ZTE Corporation

The North America region holds a share of more than 25% in the wi-fi hotspot market. The presence of highly-developed network infrastructure along with high penetration of internet service and smartphone adoption fosters the demand for the Wi-Fi Hotspot devices. The widespread adoption of Bring Your Own Devices (BYOD) and enterprise mobility solution among organizations also promote the deployment of Wi-Fi hotspots in the market. In addition, the presence of prominent companies such as Cisco, AT&T, and Verizon is supporting market growth.

The global Wi-Fi hotspot market has expanded at an unparalleled pace lately owing to the rapid adoption of smartphones and other Wi Fi-enabled smart devices. It was reported that the number of smartphone users has crossed the 2 billion mark and with new, more advanced products being offered consistently the smartphone market will observe remarkable growth.

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The number people using portable devices like laptops and tablets have increased, encouraging commercial and private sectors to install hotspots across various infrastructure, boosting the Wi-Fi hotspot industry revenue. As most of the public services have become available online throughout the world, governments are undertaking initiatives to develop the Wi-Fi hotspot market in their respective regions.

Hardware segment in wi-fi hotspot market is expected to grow significantly over the forecast time with a CAGR of approximately 11%. The hardware market is driven by an increasing demand for mobile hotspot devices. Mobile hotspot devices allow users to connect to the internet service via 3G, 4G, and LTE networks. It is equipped with an LCD screen that displays signal strength, data consumption, and real-time network status.

The increasing adoption of Wi-Fi services in automotive and the growing adoption of the smartphones are the major forces accelerating the adoption of mobile Wi-Fi hotspot devices. The software market is anticipated to grow substantially during the projected timeline. The wi-fi hotspot market is propelled by a growing demand for the cloud-based software among enterprises. The cost-effectiveness, scalability, and the flexibility offered by cloud models are the primary factors driving the demand.

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The limited frequency range of the Wi-Fi hotspot technology is restraining the wi-fi hotspot market growth. Inherent limitations associated with the range and multipath interference of the Wi-Fi technology restrict user mobility. The radio frequency signals of Wi-Fi hotspots are subject to the limitations posed by structural properties of a hotspot location. The radio frequency of a typical Wi-Fi hotspot device cannot reach beyond 20 to 25 meters.

The commercial application segment is anticipated to register a high growth rate in the wi-fi hotspot market over the projected time. The retail market is expected to grow rapidly due to the widespread adoption of Wi-Fi hotspot services at retail establishments. The retailers are using Wi-Fi-assisted technologies such as the IoT, mobile applications, and POS systems to predict their customer behavior and create a more personalized experience. The residential market is expected to grow due to the increasing data traffic caused by the rising consumption of rich media content. Moreover, the growing disposable income of consumers is also driving the residential market.

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The players operating in the wi-fi hotspot market are Aerohive Networks, Alcatel Lucent, Belkin International, Cisco, Ericsson, Aruba, a Hewlett Packard Enterprise company, Huawei Technologies, NETGEAR, Nokia, Ruckus Networks, TP-Link Technologies Co., Ltd, Ubiquiti Networks, ZTE Corporation.

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