Wi-fi Hotspot Market Projected to Reach $8.57 Billion by 2026

(IT-NEWSWIRE.COM, December 12, 2021 ) Wi-Fi Hotspot Market is projected to reach $8.57 billion by 2026 and is estimated to grow at a CAGR 17.1 % during 2021-2026. The increasing penetration of connected factories, smart cities, to provide unison through strategic networking among associated machines and systems is set to drive the market between 2021 and 2026. Increasing adoption of high speed Machine-to-Machine (M2M), wireless Local-area Network (WLAN), internet access point to transmit data between connected devices for real-time monitoring and controlling has stimulated the market growth. Rising Adoption of wireless location appliances to track devices within network infrastructure such as wireless hotspot controllers for critical applications such as high value asset tracking offering a cost effective, high resolution location solution has contributed to the growth of Wi-Fi Hotspot Market. Furthermore, with the increasing industrial shift towards wireless communication over conventional wired connection to increase the lifecycle of machines through effective predictive maintenance is expected to drive the demand for Wi-Fi hotspot particularly cloud based hotspot management.

Wi-Fi Hotspot Market Segment Analysis – By Offering

By offering, Wi-Fi Hotspot Market has been segmented into hardware, software and services. Hardware dominated Wi-Fi Hotspot Market in 2020 acquiring a share of 64%and is also estimated to be the fastest growing market owing to burgeoning demand for high speed internet connectivity in various industry verticals to optimize data transmission between connected devices. Hardware is sub-segmented into Wireless hotspot gateways, Wireless hotspot controllers, Wireless mobile hotspot devices and others. Wireless mobile hotspot devices are estimated to witness the highest growth during 2021-2026. Wireless mobile hotspot devices are analyzed to be the ideal solutions for bandwidth consuming real-time data transmission applications due to its low latency, portability, reliability, scalability and such advanced capabilities are anticipated to drive the market. In November 2020, Tenda launched advanced pocket mobile Wi-Fi hotspots in India to cater to the growing need for internet connectivity in small businesses and WFH model. Such new developments are augmenting the market.

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Wi-Fi Hotspot Market Segment Analysis – By Industry Vertical

By Industry Vertical, Wi-Fi Hotspot Market has been segmented into industry vertical, commercial and residential. Industry vertical has been segmented into Automotive, IT & Telecommunications, BFSI, general manufacturing, aerospace & defense, chemical, oil & gas, agriculture, education, food & beverage, pharmaceuticals, logistics & transportation, retail & e-commerce, power, utilities, government & public sector and others. Telecommunications and IT dominated the market in 2020 acquiring a share of 11.6% and is estimated to hold the major market share during the forecast period 2021-2026 owing to rapid and quick adoption of IoTs by mobile network operators to optimize data analytics and machine-to-machine communication. Logistics and e-commerce is estimated to be the fastest growing market with a CAGR of 9.6% during 2021-2026 owing to increasing convergence of digitalization with warehouse management. Increasing adoption of block chain technology in supply chain management to increase the transparency and efficiency of the system is stimulating the market. For instance, in June 2020, Fibocom launched Wi-Fi 6 module to enhance optimization of IoT wireless solutions with 5G. Such technological advancements are anticipated to stimulate the market during 2021-2026.

Wi-Fi Hotspot Market Segment Analysis – By Geography

By Geography, Wi-Fi Hotspot Market has been segmented under North America, Europe, APAC, South America and RoW. APAC is estimated to be the fastest growing market during the forecast period 2021-2026 owing to heavy industrialization, transition towards digitalization and massive adoption of cloud-based applications. South-East Asia is analyzed to be the hot-zone for establishing manufacturing hubs during 2021-2026. Smart Advanced Manufacturing and Rapid Transportation Hub (SAMRATH)-UdyogBharat 4.0 is an Indian Government initiative to transform Indian manufacturing sector to an intelligent manufacturing hub. In February 2020, Tripper launched a SIM-free global Wi-Fi Hotspot Rental Device in India and it is designed to automatically latch onto a local network of the country the user is travelling to. Such developments and Government initiatives are analyzed to drive the market in this region during the forecast period 2021-2026.

Wi-Fi Hotspot Market Drivers

Increasing adoption of IoTs in business organizations

Increasing penetration of IoTs among enterprises promotes the convergence of Information Technology (IT) with Operational Technology (OT) to increase flexibility, agility and efficiency in the process through growing internet connectivity, associated systems and data sharing. Increasing adoption of Machine Learning methods to improve process flow and minimize down-time has contributed to the growth of the market. Growing demand for machine vision to ensure real time quality inspection and increasing adoption of digital twins to optimize output are analyzed to propel the market growth. Integration of integrated circuits with monitoring and control systems for high speed Machine-to-Machine (M2M) communication to optimize yield, efficiency and quality is analyzed to accelerate the market during 2021-2026. Furthermore, the recent growth in adoption of bring your own device (BYOD) trends globally in workplaces to connect to their organizational networks and access work related systems and confidential data is analyzed to boost the market growth. The growing number of business critical mobility and cloud applications in different industry verticals and recent development of advanced network infrastructure is bolstering the demand for Wi-Fi hotspot. In January, 2020 Hughes Network Systems, LLC launched Hughe Express Wi-Fi hotspot in Latin America to offer Wi-Fi business in a sustainable and scalable way to service providers. Such developments are analyzed to drive the market during 2021-2026.

Increasing adoption of wireless technology

Traditional wired systems in industries require physical cabling between machines, which need to go through hazardous areas and may connect to moving parts, increasing the need for maintenance and risk of failure. On the other hand, the fixed infrastructure of wired system cannot be configured easily to make more efficient use of machinery or to adapt to changing demand. Moreover, wired technologies require more administrative costs to install wiring system throughout the factory. These drawbacks of wired system are accelerating the adoption of wireless technologies. The wireless technology reduces un-planned downtime and increases lifecycle of machines through efficient predictive maintenance. Such benefits are anticipated to boost the market growth during forecast period 2021-2026. In May 2019, Cisco partnered with Linus Tech Tips and developed some new Meraki WiFi6 compatible access points and such new developments are augmenting the Wi-Fi Hotspot Market.

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Wi-Fi Hotspot Market Challenges

Data security issues

Industries that adopt Wi-Fi hotspot security and privacy issues. Enterprises hold sensitive and confidential data, which needs to be protected to avoid data breaches and cyber-attacks. Exponential growth in number of cyber-attacks, data leakage, false data injection in various industry verticals is hampering the adoption. However, with significant investments on cyber security is set to offset this challenge and promote healthy growth during the later stages of the forecast period 2021-2026.

Wi-Fi Hotspot Market Landscape

Technology launches, Acquisitions, Collaboration, and R&D activities are key strategies adopted by players in Wi-Fi Hotspot Market. In 2020, the market of Wi-Fi Hotspot Market industry outlook has been fragmented by several companies. Siemens AG, Hewlett Packard Company, Huawei technologies, D-Link Corporation, TP Link Technologies Co. Ltd., Dell inc, Aruba networks, Cisco Systems Inc., Ericsson, Ruckus Networks and others dominate the market.

Acquisitions/Technology Launches

In March 2021, Bell announced the partnership with Honda and Acura to power Wi-Fi hotspot within new Honda and Acura vehicles.

In October 2020, Linksys and Qualcomm launched the first 5G and Wi-Fi 6 mobile hotspot in Korea and Hong Kong to deliver fast and seamless internet connectivity.

Key Takeaways

Wireless hotspot gateways are estimated to dominate the market during 2021-2026 owing to its wide range of industrial applications for process automation and real time quality control.

Logistics and e-commerce sector is analyzed to hold the major market share with a CAGR of 9.6% owing to increasing adoption of digitalization in this sector from 2021 to 2026.

APAC is estimated to witness the fastest growth during 2021-2026 due to growing demand for artificial intelligence and cloud based applications.

Accelerated IT/OT convergence, shift towards wireless communication are anticipated to boost the market during the forecast period 2021-2026.

Data security issues is one of the major challenges impeding growth of the market.

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Wi-fi Hotspot Market Projected to Reach $8.57 Billion by 2026