Technavio’s market research analysts have predicted the global mobile hotspot market to grow remarkably at an impressive CAGR of more than 24% over the forecast period. The increasing competition among vendors is resulting in product differentiation which is one of the major factors contributing to the growth of this market in the coming years. Vendors in the market are competing on several features such as data plans, data speeds, and prices to maintain their competitive edge in the market. Moreover, some vendors are providing pay-as-you-go services while the others are offering free internet. For instance, Freedom Spot Overdrive Pro mobile hotspot was launched in 2013 and offered 500MB data every month for free. Therefore, the varied products and services offered by the vendors will propel the growth prospects of the mobile hotspot market until the end of 2020.
In this industry research report, the analysts have estimated factors such as the emergence of next-generation wireless networks will contribute to the growth of this market during the predicted period. The increasing popularity of mobile communication devices has resulted in an exponential growth in network traffic. As a result, there is the continued deployment of next-generation wireless networks such as 3G, 4G, and 5G. Since these networks offer seamless wireless connectivity, equivalent to home broadband connections, the number of users accessing the Internet has increased significantly. Moreover, telecommunication product-based vendors are collaborating with service providers to develop portable devices such as mobile hotspots that support these advanced technologies, thereby spurring the growth prospects of the mobile hotspot market until the end of 2020.
Product segmentation and analysis of the mobile hotspot market
Mobile hotspot router
During 2015, the mobile hotspot router segment dominated the market and accounted for close to 96% of the market share in terms of revenue. Factors such as mobile hotspot routers can connect up to 20 devices at a time compared to a USB stick which connect up to 10 devices will propel this market segment’s growth over the predicted period. Moreover, unlike USB sticks, mobile hotspots do not require a special driver or software to be uploaded to the connected device, thereby accelerating the growth prospects of this market segment until the end of 2020.
Geographical segmentation and analysis of the mobile hotspot market
The Americas was the leading contributor to the global mobile hotspot market with more than 49% of the market share during 2015. The US is the largest market in the region. Factors such as the increasing adoption of contract devices, price wars among device providers, and competition among leading telecom operators are expected to impel the growth of this market in the Americas.
Competitive landscape and key vendors
The global mobile hotspot market is highly competitive owing to the presence of well-established global vendors. Though several local vendors have entered the market, they find it increasingly difficult to compete with international suppliers in terms of quality, durability, reliability, and technological innovation. The vendor competition is expected to intensify with increase in technological innovations and M&A in the future.
The leading vendors in the market are -
Key questions answered in the report include
What will the market size and the growth rate be in 2020?
What are the key factors driving the global mobile hotspot market?
What are the key market trends impacting the growth of the global mobile hotspot market?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the vendors in the global mobile hotspot market?
What are the trending factors influencing the market shares of the Americas, APAC, and EMEA?
What are the key outcomes of the five forces analysis of the global mobile hotspot market?
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A hotspot refers to a physical location that offers internet access over a wireless local area network with the help of a router that is connected to an internet service provider. Hotspots typically use Wi-Fi technology. In a mobile hotspot, a small personal device creates a small area of Wi-Fi coverage that allows nearby Wi-Fi devices to connect to the Internet. In other words, the device serves as a link between nearby Wi-Fi devices and a cellular data network.
The report, global mobile hotspot market, is part of Technavio’s hardware and semiconductor research portfolio. This portfolio provides a comprehensive market analysis along with the market share, market sizing, and market segmentations covering areas such as computing devices, displays, embedded systems, human machine interface, lighting, semiconductor equipment, and sensors. These market research reports provide a perspective on the various market opportunities and market threats along with the key trends that would influence the market growth during the forecast period. It presents insights into the changing competitive landscape and a detailed profiling and market analysis of the vendors. Also covered in the research are the key regions or countries that would have an impact on the market during the assessment years.