Market Overview:
4G refers to the next generation in mobile phone networks. It is expected to offer faster Internet connection speeds with more reliability than the current networks. The aim of any networking technology is to provide fast Internet access to users and this is one of the reasons why the developers of this network are spending lots of time and money in developing the technology. A 4G network must offer features defined by ITU-IETA in IMT Advanced. The other important feature of a good network provider is its compatibility with a variety of mobile devices. It must have the required coverage area so that it can serve the people well. It must also have the in-built capability features to meet the changing needs of the users. Thus, a good network provider provides a wide range of services to its customers.
Competitive Landscape:
Major players operating in the global 4G LTE hotspot market include Ericsson, Ruckus Wireless, Alcatel-Lucent, Cisco, and Aruba Networks.
Key Market Drivers:
Increasing smartphone usage in the world is the main factor that is expected to boost the growth of the global 4G LTE hotspot market. For instance, according to BankMyCell, in 2023 there were around 3.6 billion smartphones in the world and around 61.85% population in the world use smartphones. GSM cell phones are equipped with a modem and the latest mobile phones use a SIM card for both telephone communications as well as data transmission. The cell phone network services have evolved over the period of time and there has been a lot of technological innovation that is implemented in the modern mobile phone. One of the upcoming and next-gen mobile phones is GSM, which stands for Global Systems for Mobile Communication. GSM is the latest fourth generation of mobile phone technology. It is supposed to replace CDMA and TDMA technologies. Increasing product and service launches by key market players are estimated to propel the growth of the global 4G LTE hotspot market.
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Covid-19 Impact Analysis:
Increasing COVID positive cases in the world is the main factor, which impacted the growth of the global 4G LTE hotspot market. For instance, according to Our World in Data, in November 2020, the 7-day average of COVID positive cases in Italy was around 35,073. Moreover, owing to work from home demand for faster networks has also and had a significant effect on the global 4G LTE hotspot market.
Key Takeaways:
- The size of the global 4G LTE hotspot market is expected to increase at a CAGR of 17.1%, owing to increasing sales of smartphones in the world. For instance, according to Counterpoint Research, in Q2 of 2023 Samsung sold around 58 million units worldwide.
- North America is expected to hold a major share of the global 4G LTE hotspot market, owing to the increasing usage of smartphones in the region. For instance, according to GSM Association, in 2023, there were around 290 million smartphone users in the United States.
- Asia Pacific is estimated to witness high growth in the global 4G LTE hotspot market, owing to the prevalence of smartphone users in developing nations. For instance, according to GSM Association, in 2020 there were more than 748 million smartphone users in India.
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