Increasing Demand for Reliable and Fast Internet Connectivity for Employees and Students Operating from Home is Driving the Growth in Gigabit WiFi Hotspot Market

Globally, the gigabit WiFi hotspot market is expected to grow with a CAGR of 14.2% during the forecast period from 2023 to 2030. The market is driven by the increasing adoption of smart devices across the globe. Over the past decade, a significant rise in the number of smart devices has been witnessed. The total number of smartphones worldwide has crossed 2 billion marks and the number is further estimated to increase in the future. The increasing adoptions of internet penetration along with the decline in the price of smartphones are the primary factor accelerating the adoption of smart devices.

The growing digitalization across the enterprises and the rising adoption of the enterprise mobility solution are also serving as the major force propelling the adoption of the gigabit WiFi hotspot devices. Furthermore, the increasing adoption of the WiFi hotspot devices across the manufacturing facilities and healthcare institutes is further driving the market growth. However, data safety and security issues associated with WiFi Hotspot is hindering the adoption of market growth. Moreover, the requirement for the high bandwidth necessity of the application is inhibiting market growth.

WiFi Access Point is Estimated to Grow Significantly During the Forecast Period  

The gigabit WiFi hotspot market is segmented based on the component into wireless access points and wireless LAN controllers. WiFi LAN controller market was estimated to account for more than 52% share in the revenue in 2020. The market growth is credited to the wide-scale adoption of the WiFi controllers among the commercial and industrial facilities. WiFi access points are estimated to grow significantly during the forecast period due to the increasing adoption of internet-enabled devices across the residential and commercial facilities.

North America Led the Gigabit WiFi Hotspot Market                                     

North America led the global gigabit wifi hotspot market in 2021 with a market share of more than 30%. The market is driven by the large scale adoption of the WiFi hotspot in the public places and enterprises across the region. The well-developed 4G and network infrastructure across the region are also serving as a major factor accelerating the adoption of the gigabit WiFi hotspot market. Moreover, the increasing adoption of smart devices is further propelling market growth.

The major vendors in the gigabit WiFi hotspot market are Alcatel Lucent, Aerohive Network, Cisco Systems Inc., Ericsson, Edgecore Networks, HPE (Aruba Networks), Mojo Networks Inc., Huawei Technologies, Nokia Networks, Ubiquiti Networks, Ruckus Wireless, and ZTE Corporation.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Gigabit WiFi Hotspot market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Gigabit WiFi Hotspot market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Gigabit WiFi Hotspot market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Gigabit WiFi Hotspot market?
• Which is the largest regional market for Gigabit WiFi Hotspot market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Gigabit WiFi Hotspot market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Gigabit WiFi Hotspot market worldwide?