According to a new market research report published by Acute Market Reports “Global Gigabit WiFi Hotspot Market (Component (WiFi Access Points, [Indoor, Outdoor, Special Purpose], WiFi LAN Controllers ); Data Delivery Rate (1300 MBPS); End-Use (Residential, Commercial/Industrial [Retail, Education, Manufacturing, Hospitality, Healthcare, Others])) – Growth, Future Prospects, and Competitive Analysis, 2023 - 2030”, the gigabit WiFi hotspot market is set to grow with a CAGR of 14.2% during the forecast period.

Market Insights

The gigabit WiFi hotspot market is driven by the growing adoption of internet penetration across the globe. The use of internet services worldwide has increased substantially over the past decade. The rising adoption of social media platforms as well as the declining data rate is acting as a major driver for internet services. Furthermore, the growing adoption of 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 wireless network capabilities is propelling market growth.

The gigabit WiFi hotspot market is characterized by the end-user in the residential and commercial/industrial sectors. The residential sector accounted for more than a 60% share in the revenue in 2021. 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. In addition, with the ongoing work from home culture coupled with online education programs, there has been an increasing demand for residential WiFi hotspots to ensure reliable connectivity. 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 internet services across the region is the primary factor driving market growth. The rising number of smartphone and tablet users is further accelerating market growth. Besides, the supportive government initiatives to promote the use of digital services are augmenting 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.

Browse the full report at https://www.acutemarketreports.com/report/gigabit-wifi-hotspot-market

The Global Gigabit WiFi Hotspot Market is Segmented into:

*Complete segmentation list is on a report page