Wi-Fi Market Size – USD 3.01 Billion in 2020, Market Growth – CAGR of 18.5%, Market Trends – Increasing demand for mobile phones and smart devices
NEW YORK, NY, UNITED STATES, December 19, 2021 /EINPresswire.com/ — The advent of Bring Your Own Device (BYOD), the rising number of mobile applications, and advancements in the network infrastructure are driving the demand for Wi-Fi hotspot solutions.
The global Wi-Fi Hotspot Market is anticipated to grow at the rate of 18.5% CAGR to reach a valuation of USD 11.70 Billion by 2028, from its valuation of USD 3.01 Billion in 2020. Advent and commercialization of the 5G network technology are anticipated to boost the market’s growth as the introduction of Wi-Fi-based routers and modems in the enterprises is likely to augment the speed, bandwidth, and access to the internet on the premises. The advent of Bring Your Own Device (BYOD), the rising number of mobile applications, and the advancements in the network infrastructure are driving the demand for Wi-Fi hotspot solutions.
Wi-Fi Hotspots enables the small, large, and medium enterprises to manage their networks at minimal expenses. A Wi-Fi hotspot is a physical location or area where individuals can get access to the internet through Wi-Fi technology, assisted by the wireless local area network. Wi-Fi hotspots are critical to enterprises as they enhance data transmission, provide access to various applications, and offer seamless results. The market growth is predominantly driven by the rising demands for tablets, next-gen smartphones, and the rising use of connected devices.
However, security issues surrounding the extensive application of the wireless networks and increasing incidences of fraudulent data transmissions, phishing, and misconfigured APs, is anticipated to hinder the growth of the market over the coming years. Additionally, high investments and expensive maintenance costs, coupled with enormous data volumes, are presumed to halt the market’s growth further.
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Further Key Findings from the Report Suggests:
• The global Wi-Fi Hotspot Market is anticipated to grow at the rate of 18.5% CAGR to reach a valuation of USD 11.70 Billion by 2028, from its valuation of USD 3.01 Billion in 2020.
• The advent of Bring Your Own Device (BYOD), the rising number of mobile applications, and the advancements in the network infrastructure are driving the demand for Wi-Fi hotspot solutions.
• Advent and commercialization of the 5G network technology are anticipated to boost the market’s growth as the introduction of Wi-Fi-based routers and modems in the enterprises is likely to augment the speed, bandwidth, and access to the internet on the premises.
• With the enhancement in quality and advent of advanced technology, the global hotspots are seamlessly integrating with the conventional data networks such as 3G or 4G, cable, and fiber. This is anticipated to bolster the growth of the Wi-Fi hotspot market exponentially.
• However, security issues surrounding the extensive application of the wireless networks and increasing incidences of fraudulent data transmissions, phishing, and misconfigured APs, is anticipated to hinder the growth of the market over the coming years.
• Based on the component, the hardware segment is anticipated to show significant growth over the coming years due to the rising deployment of Wi-Fi routers and modems in the residential and business sectors.
• The software segment is also anticipated to show significant growth driven predominantly by the rising adoption of software solutions among enterprises and the residential sector to manage access to Wi-Fi hotspots.
• Based on services, the segment is presumed to register a significant growth rate during the forecast period owing to the increasing need for third-party service providers among various organizations. The increased trend of companies outsourcing their IT infrastructure management services to minimize capital expenditures on installation and maintenance of the infrastructure is further fueling the market growth.
• Based on the applications, the commercial segment is presumed to grow significantly due to the rising penetration of the internet and smartphones worldwide.
• Based on the regional analysis, Europe held the largest share of the market in 2019 and is anticipated to dominate the market in the projected timeline. This can be attributed to the massive adoption of Wi-Fi hotspots in public places, the existence of high-end network infrastructure, and the rising deployment of 5G networks across the region.
• North America is anticipated to closely follow Europe, attributable to the advancement in enterprise mobility and extensive deployment of public Wi-Fi hotspots.
• Asia Pacific is expected to show massive growth in the coming years, accredited to the rising number of mobile subscribers, increasing use of smart and connected devices, and the increasing internet penetration.
• In 2018, Nokia Networks gained a controlling share of Unium, a Wi-Fi start-up, to access its mesh Wi-Fi technology over home networking services.
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/wi-fi-hotspot-market
For the purpose of this study, Reports and Data has segmented the Wi-Fi Hotspots Market on the basis of component, application, services, and region:
By Component (Revenue, USD Million; 2018–2028)
Wireless Hotspot Gateways
Wireless Hotspot Controller
Mobile Hotspot Devices
Centralized Hotspot Management
Cloud-based Hotspot Management
Wi-Fi Hotspot Billing Software
Wi-Fi Security Software
By Application (Revenue, USD Million; 2018–2028)
Telecom & IT
By Services (Revenue, USD Million; 2017-2027)
By Region (Revenue, USD Million; 2018–2028)
Middle East & Africa
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Key Advantages of Wi-Fi Hotspot Report:
• Identification and analysis of the market size and competition
• Qualitative and quantitative analysis of the market data
• Data validated by industry experts after extensive primary and secondary research
• Extensive regional analysis of the Wi-Fi Hotspot industry
• Profiling of key players along with their business overview, business strategies, deals and partnerships, and product portfolio
• SWOT and Porter’s Five Forces Analysis for in-depth understanding of the competitive landscape
• Feasibility analysis and investment analysis to enable strategic investment decisions
• Analysis of opportunities, drivers, restraints, challenges, risks, and limitations
Conclusively, all aspects of the Wi-Fi Hotspot market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.
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