Mobile Hotspot Market Size is projected to reach USD 14.74 Billion by 2030, growing at a CAGR of 19.6%: Comprehensive Report by Zion Market Research

NEW YORK, United States, April 05, 2023 (GLOBE NEWSWIRE) -- According to Zion Market Research has published a new research report titled “Mobile Hotspot Market By Offerings (Component [Mobile Router, Portable Dongles, Others], Software, Service), By End-User (Domestic Use, Professional Use), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030.” in its research database.

“According to the latest research study, the demand of global Mobile Hotspot Market size & share in terms of revenue was valued at USD 3.92 billion in 2022 and it is expected to surpass around USD 14.74 billion mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 19.6% during the forecast period 2023 to 2030.”

What is Mobile Hotspot? How big is the Mobile Hotspot Industry?

Report Overview:

A mobile hotspot is a device that allows users to create a wireless internet connection by sharing cellular data from their smartphone or other mobile devices. Mobile hotspots have become increasingly popular as more people use their smartphones and other mobile devices to access the internet on the go. They provide a convenient way to access the internet when there is no Wi-Fi network available, such as when traveling or in remote areas.

Mobile hotspots also allow users to connect multiple devices to the internet simultaneously, making them a popular choice for families, businesses, and other groups. Despite some challenges and restraints, the mobile hotspot market presents several opportunities for growth, driven by the increasing demand for mobile internet connectivity and advancements in technology.

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• Introduction, Overview, and in-depth industry analysis are all included in the 2023 updated report.
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• Provide detailed chapter-by-chapter guidance on Request
• Updated Regional Analysis with Graphical Representation of Size, Share, and Trends for the Year 2023
• Includes Tables and figures have been updated
• The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis
• Zion Market Research Methodology

(Please note that the sample of this report has been modified to include the COVID-19 impact study prior to delivery.)

Global Mobile Hotspot Market: Growth Factors

The global mobile hotspot market is expected to surge exponentially due to factors such as increasing demand for mobile internet connectivity, rising adoption of smartphones & other mobile devices, and growth in remote work & virtual collaboration. The market presents opportunities for expansion, including the development of 5G networks, the rise of IoT and other emerging technologies, and the need for reliable and secure mobile hotspot solutions. However, the mobile hotspot industry faces restraints such as concerns around data security and privacy, regulatory restrictions, the high cost of mobile data plans, and the availability and speed of cellular networks in some areas. Additionally, competition from established players in the market may pose a challenge for new entrants.

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Report Scope

Mobile Hotspot Market: Segmentation Analysis

The global mobile hotspot market is segmented into offerings, end-user, and region.

Based on offerings, the market is bifurcated into hardware, software, and solutions. The hardware segment held the largest market share in 2022 and is further predicted to grow rapidly at a significant CAGR during the forecast period. The hardware segment of the mobile hotspot market has experienced steady growth in recent years, driven by the increasing demand for reliable and secure mobile hotspot solutions. Mobile hotspot devices and routers provide a convenient way for users to access the internet on the go, particularly in areas with limited Wi-Fi access.

Additionally, the development of 5G networks and other technological advancements have improved the speed and reliability of mobile hotspot connections, driving further growth in the hardware segment. Despite the competition from software and solutions offerings, the hardware segment is expected to continue its growth in the hardware segment. Despite the competition from software and solutions offerings, the hardware segment is expected to continue its growth trajectory as more people rely on mobile devices for internet access and the need for mobile hotspot devices and routers persists.

Based on end-user, the market is segmented into domestic use and professional use. The professional use segment held the dominating market share in 2022 and is projected to grow exponentially at a notable CAGR during the forecast period. The professional use segment of the mobile hotspot market has grown rapidly in recent years due to the increasing need for remote work and virtual collaboration solutions. Businesses and organizations require mobile hotspot solutions to enable their employees to work from remote locations or in the field, driving demand for these offerings.

Additionally, the development of 5G networks and other technological advancements has improved the speed and reliability of mobile hotspot connections, making them a more viable solution for professional use cases.

The global Mobile Hotspot market is segmented as follows:

By Offerings

• Hardware
• Software
• Solution

By End-User

• Domestic Use
• Professional Use

Browse the full “Mobile Hotspot Market By Offerings (Component [Mobile Router, Portable Dongles, Others], Software, Service), By End-User (Domestic Use, Professional Use), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2023 – 2030..”- Report at https://www.zionmarketresearch.com/report/mobile-hotspot-market

Competitive Landscape

Some of the main competitors dominating the global Mobile Hotspot market include - 

• Aptilo Networks AB
• Verizon Communications Inc.
• Optus
• Singtel
• Sprint Corporation
• Japan Communications Inc.
• Orange S.A.
• Bharti Airtel
• Sierra Wireless Inc.
• Novatel Wireless Inc.
• Skyroam Inc.
• ZTE Corporation
• Cisco Systems Inc.
• Nokia Corporation
• Huawei Technologies Co. Ltd. Samsung Electronics Ltd.
• Vodafone Group plc
• Reliance Communications
• AT&T Inc
• NETGEAR Inc.
• Ericsson

 Key Insights from Primary Research:

• According to the analysis shared by our research forecaster, the Mobile Hotspot market is likely to expand at a CAGR of around 19.6% during the forecast period (2023-2030).         
• In terms of revenue, the Mobile Hotspot market size was valued at around US$ 3.92 billion in 2022 and is projected to reach US$ 14.74 billion by 2030.
• Based on offerings, the hardware segment held the largest market share in 2022.
• Based on end-user, the professional use segment held the dominating market share in 2022.
• Based on region, the Asia-Pacific region is predicted to cite the fastest CAGR during the forecast period.

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Key questions answered in this report:

• What is the market size and growth rate forecast for Mobile Hotspot industry?
• What are the main driving factors propelling the Mobile Hotspot Market forward?
• What are the leading companies in the Mobile Hotspot Industry?
• What segments does the Mobile Hotspot Market cover?
• How can I receive a free copy of the Mobile Hotspot Market sample report and company profiles?

Key Offerings:

• Market Size & Forecast by Revenue | 2023−2030
• Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
• Market Segmentation – A detailed analysis by Offerings, End-User, and Region
• Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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Regional Analysis:

The Asia-Pacific region held a remarkable market share in 2022 and is further predicted to cite the fastest CAGR during the forecast period. This is mainly due to the increasing adoption of mobile devices, internet penetration, and technological advancements. With the region's large population and expanding middle class, there is a growing demand for mobile hotspot solutions that provide reliable and secure internet access on the go. Additionally, the rapid deployment of 5G networks and the proliferation of internet-of-things (IoT) devices have further increased the demand for mobile hotspot solutions in the region. Despite the competition from other connectivity solutions, the Asia Pacific mobile hotspot market is expected to continue its growth trajectory in the coming years, driven by the region's evolving digital landscape and changing consumer behaviors.

By Region

• North America
  • U.S.
  • Canada
  • Rest of North America
• Europe
  • France
  • UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

Recent Developments

• In July 2021, Verizon, one of the world's leading providers of technology and communications services, announced the launch of a new mobile hotspot plan aimed at remote workers and digital nomads. The plan offers unlimited 5G data and is available on a month-to-month basis, making it a flexible and affordable option for those who need reliable internet access on the go.
• In June 2021, Huawei, a dominant China-based provider of 5G networks and a leader in sales of telecommunications equipment, announced the launch of its latest mobile hotspot device, the Huawei 5G Mobile Wi-Fi Pro. The device offers 5G speeds, support for up to 40 devices, and a large battery capacity, making it ideal for remote workers and families.

To know an additional revised 2023 list of market players, request a brochure of the report: https://www.zionmarketresearch.com/requestbrochure/mobile-hotspot-market

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