Sarasota, FL -- (SBWIRE) -- 10/20/2018 -- Zion Market Research has published a new report titled "Mobile Hotspot Router Market by Product (Standalone Devices and Bundled Devices), by End-user (Domestic and Commercial): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017 - 2024". According to the report, the global mobile hotspot router market was valued at approximately USD 1.92 billion in 2017 and is expected to reach approximately USD 7.07 billion by 2024, at a CAGR of around 20.50% between 2018 and 2024. In terms of volume, the global mobile hotspot router market was 53.53 million units in 2017.

Mobile hotspot router is a wireless device connected through 4G or 3G mobile connections offering high-speed internet services to its users. Mobile hotspot is a technology in smartphones that allows the user to connect internet through the wireless or portable device. Hotspot offers on-the-spot connectivity to the internet with the help of cellular network providers. It helps to connect several gadgets (mobiles, laptops, and computers) to the network with convenient, simple, and fast internet access at any place. The range of connectivity for a mobile hotspot router is 30 to 33 feet and it permits the user to connect several Wi-Fi enabled devices to a single router.

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In the last few years, a tremendous growth has been experienced in the number of wireless users, network access technologies, and its applications globally. Mobile hotspot router market is majorly driven by the consistent demand for wireless broadband services across verticals. Nowadays wireless or mobile broadband services are witnessing significant growth leading to a tremendous rise in data traffic. This rising chunk of data traffic is driven by the escalating number of mobile subscribers, mainly smartphone users. However, issues related to security, authentication, and low connectivity in mobile hotspot router can hamper the growth of the market.

Based on products, the mobile hotspot router market is categorized into bundled devices and standalone devices. The bundled devices segment is expected to be the leading product segment accounting for a substantial share of total volume. Owing to its benefits such as independence on any hardware like modem, computer, or any other device, standalone devices is estimated to grow substantially. Domestic and commercial are the end user segments of mobile hotspot router market. Consistent increase in data storage synchronization with popular cloud-based applications such as Google Drive will spur the adoption of mobile hotspot router globally. In coming years, common home and office devices such as printers will be making their move to be wireless, from wired connections. This will create ample opportunities in the domestic as well as the commercial sector for the product.

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Owing to the high penetration of mobile internet and the adoption rate of smartphones and escalating mobile subscribers in the region, Asia Pacific is anticipated to hold a significant volume share in the mobile hotspot router market. North America is expected to register linear growth during the forecast period. Several initiatives taken by the European Union and the growing use of Wi-Fi at public places including cafes and in public transport are anticipated to trigger the product usage in Europe.

Key players operating in the global mobile hotspot router market includes NETGEAR, TP-Link Technologies Co., Ltd., D-Link Corporation, Novatel Wireless, Inc., Huawei Technologies Co., Franklin Wireless, Samsung Electronics, ZTE Corporation, Sierra Wireless, and ConnecteDevice Ltd.

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The report segments the global mobile hotspot router market as follows:

Mobile Hotspot Router Market: Product Segment Analysis

Standalone Devices
Bundled Devices