[September 29, 2016] |
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Mobile Hotspot Router Market Will Witness a Steady Growth and Post a CAGR of 19.26% Through 2020: Technavio
Technavio's latest report on the global
mobile hotspot router market provides an analysis on
the most important trends expected to impact the market outlook from
2016-2020. Technavio
defines an emerging trend as a factor that has the potential to
significantly impact the market and contribute to its growth or decline.
Rakesh Kumar Panda, lead analyst from Technavio, specializing in
research on M2M
and connected devices sector, says, "Rising adoption of
consumer electronic devices such as laptops, tablets, and wearable
devices drives the market. In addition, increased use of enhanced
LTE (News - Alert)-Advanced connectivity infrastructure by telecom operators
contributes to the market growth."
Increasing demand for broadband-on-the-go model will contribute
significantly to the growth of the market. Emergence of various wireless
technologies such as 3G, 4G, and LTE has changed the way mobile devices
are used. Consumers are increasingly using these wireless technologies
to access internet-on-the-go. In 2015, there were more than 3 billion
internet users worldwide and the demand will increase further as the
internet has become an integral part of life and business.
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The top four emerging trends driving the global mobile hotspot router
market according to Technavio ICT
research analysts are:
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Pay-as-you-go business model
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Multiple operational features
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Product differentiation
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Increased average time spent in traveling
Pay-as-you-go business model
Vendors in the global mobile hotspot router market are adopting
different strategies such as the pay-as-you-go model to attract
consumers. The pay-as-you-go business model works on the concept
of paying for the services availed and not for the amount of services
that may or may not be used. In this model, users can pay to avail the
service, as and when required. There is also an option for the consumer
to carry over unused data allowances. Further, under this model,
consumers can earn free data in their next recharge if they share data
with other users via a hotspot.
"Many users find this feature a boon for them, as there is no issue
of paying extra for the unused data. This scheme helps to load the data
onto the device whenever needed without any monthly fees or extra
charges. With the growing demand for data access, the providers are
offering free data upon encouraging the socializing feature to get
connected to that particular network," according to Rakesh.
Multiple operational features
Mobile hotspots are known for their benefits such as access to Internet
from anywhere at any time. These devices are also equipped with features
such as power banks, GPS options, and storage devices. Power
banks are increasingly being used by consumers worldwide to
charge their portable devices, such as mobile phones and tablets. A
mobile hotspot device can also be used as a power bank to charge mobile
phones, if required. All devices are equipped with a battery that
provides extended battery life for up to 20 hours.
Mobile hotspot devices also provide GPS data in connected devices for
location identification purposes. These devices are designed and
manufactured with microSD card slots provisioning up to 32 GB of storage
for shared files. Currently, not all the devices available in the market
offer these features. Advanced innovations in the market may result in
all devices to be released with these features by vendors and even more,
adding to the increased adoption of mobile hotspots.
Product differentiation
Vendors in the market are competing on several features such as data
plans, data speeds, and prices to remain competitive in the market. This
is one of the driving factors for the adoption of mobile hotspots, as
consumers can choose products from different vendors that suit them best.
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Some vendors are providing pay-as-you-go services, and some are
offering free internet such as the Freedom Spot Overdrive Pro mobile
hotspot. Launched in 2013, this mobile hotspot offered 500MB of data
every month for free. AT&T provides a 2-in-1 projector and mobile
hotspot known as ZTE Spro 2 Smart Projector (News - Alert). This 2-in-one device
can connect up to 10 devices.
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Increased average time spent in traveling
Increase in average time spent in traveling, including the time spent
commuting to work and journeys, has boosted the development of mobile
Wi-Fi hotspots. Cloud
computing and mobile technology have transformed the travel
experience. Mobile computing devices have become a standard accessory
for travelers. Cloud computing provides travelers a platform to enjoy
their traveling experience by enabling them access to the internet
connection while users are on the go.
The key vendors are as follows:
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Huawei Technologies
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NETGEAR
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Novatel Wireless (News - Alert)
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TP-LINK Technologies
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ZTE
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About Technavio
Technavio
is a leading global technology research and advisory company. The
company develops over 2000 pieces of research every year, covering more
than 500 technologies across 80 countries. Technavio has about 300
analysts globally who specialize in customized consulting and business
research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research
techniques to ascertain the size and vendor landscape in a range of
markets. Analysts obtain information using a combination of bottom-up
and top-down approaches, besides using in-house market modeling tools
and proprietary databases. They corroborate this data with the data
obtained from various market participants and stakeholders across the
value chain, including vendors, service providers, distributors,
re-sellers, and end-users.
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