4G LTE Hotspot Market Technological Advancements, Growth Opportunity and Forecast 2018-2026
Dependency on the internet has increased
substantially in the recent past for conducting business or for personal use.
Connecting over cellular data on mobile leads to rapid draining of battery and
hence, demand for external hotspot device is gaining traction in the market.
The infrastructure at disposal in multiple regions North America, Asia Pacific,
Africa, Europe, Middle East and Latin America among others, is conducive for
supporting 4G LTE services without much interruption and hence, supporting growth
of the 4G LTE hotspot market.
4G LTE hotspots have gained significant
traction since its introduction in the market. This can be attributed to
multiple factors including increasing number of smart devices that need to be
connected simultaneously for various reasons. Connecting multiple devices with
a mobile hotspot or even enabling them all with SIM cards seems to be a complex
and expensive task. However, hotspot proves to be a hassle free connectivity
solution for multiple devices.
Technological advancements in terms of speed
and long battery life of wireless hotspots is aiding in increasing adoption and
growth of 4G LTE hotspot devices. Also, growing demand for internet services
on-the-go are triggering demand for 4G LTE hotspot in the global market. A
large number of people travelling require efficient solutions for uninterrupted
connectivity across geographies and hence, need 4G LTE hotspot devices.
Growing need to keep multiple smart devices
connected is major factor driving growth of the market
Rising adoption of smart devices, including
smartphones, tablets and cameras among others is expected to drive growth of
the global 4G LTE hotspot market, during forecast period. This is owing to
increasing demand for connectivity to internet for these devices. Furthermore,
growing adoption of connected home, connected vehicles, and others is
propelling growth of the market. This can also be attributed to lowering
internet charges, which is further boosting adoption of 4G LTE hotspots.
Globalization has resulted in professional personnel to keep travelling across
various geographies, during which devices needs to be connected with a constant
and consistent internet services for increasing efficiency of businesses. For
this 4G LTE hotspots are best suited and are being offered at competitive
prices, owing to competition among large number of services providers in the
market.
Global 4G LTE Hotspot Market: Regional
Insights
North America held a dominant position in the
global 4G LTE hotspot market in 2016, and is expected to retain its dominance
throughout the forecast period. This growth is attributed to large number of
smart devices in the region and increasing need to connect them all with
efficient LTE hotspot. According to Coherent Market Insights, global number of
hotspots is expected to reach 340 million in number and it averages to a hotspot
for 20 people across the globe. Also, in North America, it is expected that for
every four people, one hotspot will be used, whereas, the density for Africa is
expected to be 1 hotspot for 408 people. As per analysis of Coherent Market
Insights, Europe is estimated to exhibit high hotspot density in 2018. Asia
Pacific is expected to exhibit highest CAGR, over the forecast period, owing to
rapidly increasing internet penetration and increasing adoption of connected
and smart devices in the region.
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Global 4G LTE Hotspot Market: Competitive
Background
Major players operating in the 4G LTE hotspot
market are Verizon, AT&T, T-Mobile, FreedomPop, Samsung, Internet on the
Go, Sprint, Huawei, D-Link, and TP-Link.
Global 4G LTE Hotspot Market: Taxonomy
On basis of Connectivity type,
- Wired
- Wireless
On basis of Application type,
- Commercial
- Personal
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