The hotspot forms an on-the-spot Wi-Fi network, using which user can connect a number of computers or gadgets to the network for simple, fast Internet access. 4G (Fourth Generation) and 4G LTE (4G Long Term Evolution) are the most common type of wireless mobile network technologies. These two technologies vary in terms of speed and coverage area. 4G LTE hotspot provide a relatively fast and consistent internet connection. 4G LTE wireless broadband is 10 times faster than 3G. It has capacity to handle download speeds between 5 and 12 Mbps (Megabits per second) and upload speeds between 2 and 5 Mbps, with peak download speeds approaching 50 Mbps.
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Increasing adoption of smartphone with 4G LTE network type is a major driving factor for growth of the global 4G LTE hotspot market. Several IT and telecom industries require high speed internet for carrying out daily operations which is propelling demand for 4G LTE hotspot by such end-use industries. Furthermore, increasing inclination of consumers towards utilization of advanced network technologies augmenting growth of the 4G LTE hotspot market. However, factors such as data breach, cyber-attacks, and low security of personal data are the major factors restraining growth of 4G LTE hotspot market.
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Key Developments of 4G LTE Hotspot Market
Market players are introducing various network plans in order to maintain leading position in the market. For instance, in September 2016, Jio, an Indian mobile network operator owned by Reliance Industries announced national LTE network with coverage across all 22 telecom circles. Jio utilizes voice over LTE to provide voice service on its network. The company offered Jio Prime exclusive membership program to ensure that prime members get substantially better benefits than the counterparts in the industry. Furthermore, in March 2018, The Company expanded JioFi series by launching new JioFi 4G LTE hotspot device, which is capable of delivering 150Mbps download speed. Key players operating in global 4G LTE HotSpot market include Verizon, AT&T, T-Mobile, FreedomPop, Samsung, Internet on the Go, Sprint, Huawei, D-Link, TP-Link, Skyroam, NETGEAR, Cisco, and Alcatel-Lucent.
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