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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.