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Growing at a CAGR of 16.9% | The Wi-Fi Hotspot Market Booming in Past Years
The global Wi-Fi hotspot market was valued at USD 1,766 million in 2016 and is expected to reach USD 5,198 million by 2023, growing at a CAGR of 16.9% from 2017 to 2023.
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The Wi-Fi hotspot market is segmented based on offerings, end user, industry vertical, and region. Based on offerings, it is divided into component, software, and services. As per component, the market is classified into wireless hotspot gateways, wireless hotspot controllers, and mobile hotspot devices. Based on software, the Wi-Fi hotspot market is analyzed across centralized hotspot management, Wi-Fi security software, Wi-Fi hotspot billing software, and cloud-based hotspot management. As per services, the market is categorized into professional service, installation and integration services, consulting services, and managed services. Based on end users, the market is segmented into the communication service provider & network operators, enterprises, and government. Based on industry vertical, the global Wi-Fi hotspot market is studied across telecom and IT, financial services, education, healthcare, hospitality, transportation, retail, and others. Based on the region, the market is analyzed across North America, Europe, Asia-Pacific, MEA, and Latin America.
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Surge in utilization of smart devices, significant rise in adoption in hospitality, retail, and education sectors, and adoption of carrier Wi-Fi by the network operators facilitate the growth in the market. Advent of mobile hotspots and opportunities in Asia-Pacific region present new pathways in the market.
Based on verticals, the telecom & IT sector contributed more than half of the total market share in 2017 and will maintain its dominant position in terms of revenue during the forecast period. This is due to the reliance on connectivity of the internet to carry out business operations and the requirement regarding improvement of productivity and services. The research also analyzes financial services, education, healthcare, hospitality, transportation, retail, and others.
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Based on regions, North America accounted for more than one-third of the total share in 2017 and will maintain its leadership status throughout the forecast period. This is due to the increase in utilization of smart devices in the region along with surge in adoption of Wi-Fi hotspots in various sectors. However, Asia-Pacific is expected to grow at the fastest rate, with a CAGR of 17.9% from 2017 to 2023, owing to significant increase in number of mobile subscribers and opportunities in emerging countries such as China, Japan, and others.
Leading market players analyzed in the research include Aptilo Networks AB, Netgear Inc., Boingo Wireless, Inc., Brocade Communications Systems, Inc., Cisco Systems, Inc., iPass, Inc., Hewlett Packard Enterprise Company, Nokia Corporation, Huawei Technologies Co. Ltd., and Ericsson.
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Key Findings of the Wi-Fi Hotspot Market:
•The components segment accounted for the highest share of the global Wi-Fi hotspot industry by user type in 2016, growing at a CAGR of 16.4% from 2017 to 2023.
•The communication service provider & network operators segment Wi-Fi hotspot market by end user generated the highest revenue share in 2016 and is projected to grow at a rate of 13.9%.
•The North America Wi-Fi hotspot market generated the highest share, valued at $605 million, in terms of revenue in 2016.
•The Wi-Fi hotspot market in other verticals sector is expected to witness the highest growth rate during the forecast period.
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