According to a new market research report published by Credence Research “Global Gigabit WiFi Hotspot Market (Component (WiFi Access Points, [Indoor, Outdoor, Special Purpose], WiFi LAN Controllers ); Data Delivery Rate (<868 MBPS, 868 to 1300 MBPS, >1300 MBPS); End-Use (Residential, Commercial/Industrial [Retail, Education, Manufacturing, Hospitality, Healthcare, Others])) – Growth, Future Prospects and Competitive Analysis, 2019 – 2027”, the gigabit WiFi hotspot market is set to grow with a CAGR of 14.2% during the forecast period.
The gigabit WiFi hotspot market is driven by the growing adoption of the internet penetration across the globe. The use of the internet services worldwide has increased substantially over the past decade. The rising adoption of the social media platforms as well as declining data rate is acting as a major driver for the internet services. Furthermore, the growing adoption of the smartphones among the developing countries is further accelerating the adoption of the WiFi hotspot.
The supportive government initiatives worldwide for the deployment of the WiFi hotspot across the public places are further accelerating the market growth. Furthermore, the increasing adoption of the IoT/M2M across the industrial facilities is promoting the adoption of the WiFi hotspot. Moreover, the growing need to optimize the wireless network capabilities is propelling the market growth.
The gigabit WiFi hotspot market is characterized by the end-use into the residential and commercial/industrial sector. The residential sector accounted for more than 60% share in the revenue in 2018. The wide scale adoption of the smartphone and tablets is driving the adoption of the WiFi hotspot. Furthermore, the declining data rate is also encouraging the adoption of the WiFi hotspot. On the other hand, commercial/industrial sector is estimated to grow significantly during the forecast period due to the rapid digitalization among the organizations.
Asia Pacific’s gigabit WiFi hotspot market is projected to grow extensively over the forecast period. The increasing adoption of the internet services across the region is primary factor driving the market growth. The rising number of smartphone and tablet users is further accelerating the market growth. Besides, the supportive government initiatives to promote the use of digital services are augmenting the market growth.
The prominent vendors of 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.
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