Wi-Fi Hotspot Market- How The Market Developments Of Key Players Impact The Overall Industry?

The Wi-Fi Hotspot Market is propelled by the growing number of government initiatives to develop high-speed Wi-Fi infrastructure. Government authorities are intensively involved in the development of public Wi-Fi infrastructure to nurture digital inclusion. The governments are deploying millions of Wi-Fi Hotspot devices across public access and government offices to provide free Wi-Fi services. Government organizations are working with telecom service providers, internet service providers, and technology players to provide unlimited economical services to individuals.
Technological advancements in the WLAN technology and the increasing integration of IoT devices are also accelerating the adoption of Wi-Fi hotspot devices. Technological advancements in the IoT have allowed the Wi-Fi technology to be used for more than just connecting to internet services. Wi-Fi is used for creating an interconnected network of multiple smart devices. It also transforms smartphones into remote-controlled devices for ACs and televisions and enables communication between multiple devices connected to the Wi-Fi network.
Wi-Fi Hotspot market includes hardware, software, and services. Hardware accounts for more than 55% share in the market. The growing adoption of gateways, access points, and cloud access points among the enterprises and residential users is the major factor supporting the market. These devices have been used by the users to provide authorization, accounting, and authentication for a wireless network.
The mobile hotspot devices are anticipated to attain CAGR of over 17% during the projected timespan. The advancements in WLAN technology and the growing incorporation of IoT devices are driving the adoption of the Wi-Fi Hotspot among the residential and business space. The advancements in technology have allowed the Wi-Fi technology to interconnect multiple devices into a network. Moreover, the rapid adoption of the mobile hotspot devices into the automotive also augments their demand in the market.
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Software is projected to attain an annual growth rate of over 16% during the forecast period. The adoption of customized software to manage users and protect the network is the primary factor accelerating the software market. Moreover, the growing popularity of the cloud-based software among the enterprises also promotes market growth.
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.
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.
With increasing population, rising consumer spending and growing affordability of required hardware, the café segment will experience a notable rate of Wi-Fi hotspot implementation. Comprising of key industry participants like Alcatel-Lucent, Aruba Networks, Cisco Systems, Ipass, Motorola Solutions, Nokia Networks and Ericsson, the Wi-Fi hotspot market is anticipated to register more than USD 23 billion in revenue by 2024.