Portable Automotive Wi-Fi Router Market: Luxury Vehicle Class to Grow at 17.4% CAGR During 2020-2030

Allied Market Research published a report, titled, "Portable Automotive Wi-Fi Router Market by Vehicle Type (Passenger Car, Light Commercial Vehicle and Heavy Commercial Vehicle), Sales Channel (OEM, Aftermarket), Vehicle Class (Mid-Priced and Luxury) and Application (Driver Assistance, Safety, Entertainment, Well-Being, Vehicle Management and Mobility Management): Global Opportunity Analysis and Industry Forecast, 2021-2030." According to the report, the global portable automotive Wi-Fi router industry generated $1.12 billion in 2020, and is estimated to generate $5.15 billion by 2030, witnessing a CAGR of 16.6% from 2021 to 2030.

Drivers, restraints, and opportunities

The trend of connectivity solutions, increase in adoption of cloud technology, and rise in usage of cloud-based technology for vehicle telematics drive the growth of the global portable automotive Wi-Fi router market. However, lack of uninterrupted & seamless internet connectivity and high cost of advanced technologies hinder the market growth. On the other hand, lack of cellular internet connectivity and surge in adoption of connected cars present new opportunities in the coming years.

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Covid-19 Scenario

Decreased demand for new and old vehicles led to reduced adoption of portable Wi-Fi routers during the Covid-19 pandemic.
In addition, development activities of connected cars, advanced driver assistance systems, and in-vehicle infotainment systems stopped partially due to the lockdown. This, in turn, reduced the demand for connectivity and portable routers.
During the post-lockdown, the supply-demand gap narrowed, personal mobility & electric vehicle development activities accelerated, and implementation of portable Wi-Fi routers increased in the automotive vehicles.

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The passenger car segment to continue its leadership status during the forecast period

Based on vehicle type, the passenger car segment accounted for the highest share in 2020, contributing to around four-fifths of the global portable automotive Wi-Fi router market, and is estimated to continue its leadership status during the forecast period. This is due to its crucial role in the transportation industry. However, the heavy commercial vehicles segment is projected to witness the highest CAGR of 18.6% from 2021 to 2030. This is attributed to surge in adoption of safety features in vehicles and stringent government regulations.

The safety segment to continue its dominance in terms of revenue during the forecast period

Based on application, the safety segment held the largest share in 2020, accounting for nearly one-third of the global portable automotive Wi-Fi router market, and is expected to continue its dominance in terms of revenue during the forecast period. This is due to increased application of on-board safety features that need internet connectivity to carry out efficient operations. However, the vehicle management segment is estimated to register the fastest CAGR of 21.0% from 2021 to 2030, owing to different vehicle management software that transmit live information of the vehicle to fleet owners for keeping track of the vehicles & its operations.

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North America contributed the highest share in 2020

Based on region, North America contributed to the highest market share in 2020, accounting for around one-third of the global portable automotive Wi-Fi router market. This is due to rise in demand for in-vehicle connectivity and new developments to offer excellent and efficient services. However, Asia-Pacific is projected to portray the largest CAGR of 19.2% during the forecast period, owing to increased production of vehicles equipped with advanced features across China, Japan, and other countries.

Leading Market Players

Cisco Systems
Cradlepoint, Inc.
Guangzhou Gaoke Communications Technology
HooToo
Huawei Technologies Co., Ltd.
KuWFi Technology Co., Ltd.
Sierra Wireless
Teldat Group
Shenzhen Zhiguanghong Technologies Co., Ltd.
ZTE Corporation

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