The global mobile hotspot router market grew at a CAGR of around 15% during 2014-2019. A mobile hotspot router is a pocket-sized wireless device that connects multiple Wi-Fi enabled devices with a single router. The routers are equipped with various features, such as power bank, global positioning system (GPS) and USB points and are usually built into a smartphone or as a standalone portable gadget that can be attached to the phone. They provide simple, fast and instant internet connectivity to various devices, such as laptops, mobiles and computers that can be accessed at any time. They also offer high-speed internet connectivity to multiple users at the same time and aid in minimizing the overall cost of internet services.
Rapid digitalization, along with the rising demand for wireless and mobile broadband services, is one of the key factors driving the growth of the market. The increasing utilization of smart devices across the globe and the growing consumer awareness regarding pay-as-you-go business models are projected to drive the market further. Frequent business travelers and tourists use mobile hotspot routers to access the internet while they are moving. Consumers are using e-commerce platforms for online shopping through mobile devices, which require stable internet connectivity, thereby increasing product demand. Additionally, various technological advancements, such as the development of data storage systems integrated with cloud-based applications, are also contributing to the market growth. Other factors, including the rising data traffic and the implementation of favorable government initiatives to provide Wi-Fi in public places, are projected to create a positive outlook for the market. Looking forward, IMARC Group expects the global mobile hotspot router market to continue its strong growth during the next five years.
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The competitive landscape of the industry has also been examined with some of the key players being Alcatel-Lucent (Nokia Corporation), Belkin International Inc. (Foxconn), D-Link Corporation, Huawei Technologies Co. Ltd., Netgear Inc., Novatel Wireless Inc. (Inseego), TP-Link Technologies Co. Ltd., XCom Global Inc., ZTE Corporation, etc.
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