According to a new report published by Allied Market Research, titled, Wi-Fi Hotspot Market by Offerings, End User, and Vertical: Global Opportunity Analysis and Industry Forecast, 2017-2023, the global Wi-Fi hotspot market was valued at $1,766 million in 2016, and is projected to reach $5,198 million by 2023, growing at a CAGR of 16.9% from 2017 to 2023. The services segment is anticipated to grow at the highest rate during the forecast period.
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In 2016, North America generated the highest revenue, owing to technologically developed infrastructure and high adoption of wireless technology. The Asia-Pacific Wi-Fi hotspot market is expected to grow at the highest CAGR during the forecast period as majority of the region possess uncaptured market potential for the growth of the global Wi-Fi hotspot industry.
Among components wireless hotspot gateways generated largest share of revenue in 2016 and is expected to dominate the market throughout the analysis period. However, the mobile hotspot devices market is expected to grow at the highest CAGR during 2017-2023. Among software, centralized hotspot management segment accounted for 39% of the total component segment, while cloud-based hotspot management segment is expected to grow at the highest CAGR of 17.9% during the forecast period.
The report features a competitive scenario of the global Wi-Fi hotspot industry and provides a comprehensive analysis of key growth strategies adopted by major players. The key players profiled in the study are Aptilo Networks AB, Boingo Wireless, Inc., Brocade Communications Systems, Inc., Cisco Systems, Inc., Hewlett Packard Enterprise Company, Huawei Technologies Co. Ltd., iPass, Inc., NETGEAR Inc., Nokia Corporation, and Ericsson. These players have adopted competitive strategies, such as geographical expansions, mergers & acquisitions, new product launches, and partnerships & collaborations, to augment the growth of the Wi-Fi hotspot market.
Key Findings of the Wi-Fi Hotspot Market:
- The components segment accounted for the highest share of the global Wi-Fi hotspot industry by user type in 2016, growing at a CAGR of 16.4% from 2017 to 2023.
- The communication service provider & network operators segment Wi-Fi hotspot market by end user generated the highest revenue share in 2016, and is projected to grow at a rate of 13.9%.
- The North America Wi-Fi hotspot market generated the highest share, valued at $605 million, in terms of revenue in 2016.
- The Wi-Fi hotspot market in other verticals sector is expected to witness the highest growth rate during the forecast period.