Surge in utilization of smart devices, significant rise in adoption in hospitality, retail, and education sectors, and adoption of carrier Wi-Fi by the network operators facilitate the growth in the market. However, authentication issues by Wi-Fi hotspot providers, security issues, and the requirement to meet bandwidth standards hinder the market growth.
Contrarily, advent of mobile hotspots and opportunities in Asia-Pacific region present new pathways in the market.the global Wi-Fi Hotspot Market Size garnered $2.03 billion in 2017, and is estimated to reach $5.19 billion by 2023, growing at a CAGR of 16.9% from 2017 to 2023.
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Based on verticals, the telecom & IT sector contributed more than half of the total market share in 2017 and will maintain its dominant position in terms of revenue during the forecast period. This is due to the reliance on connectivity of internet to carry out business operations and the requirement regarding improvement of productivity and services. The research also analyzes financial services, education, healthcare, hospitality, transportation, retail, and others.
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Based on regions, North America accounted for more than one-third of the total share in 2017 and will maintain its leadership status throughout the forecast period. This is due to increase in utilization of smart devices in the region along with surge in adoption of Wi-Fi hotspots in various sectors. However, Asia-Pacific is expected to grow at the fastest rate, with a CAGR of 17.9% from 2017 to 2023, owing to significant increase in number of mobile subscribers and opportunities in emerging countries such as China, Japan, and others.
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Leading market players analyzed in the research include Aptilo Networks AB, Netgear Inc., Boingo Wireless, Inc., Brocade Communications Systems, Inc., Cisco Systems, Inc., iPass, Inc., Hewlett Packard Enterprise Company, Nokia Corporation, Huawei Technologies Co. Ltd., and Ericsson.
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