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Over the past few years, the automotive industry has shown an increasing inclination towards the adoption of advanced technologies and connectivity systems in automobiles. With the world becoming advanced with latest technologies in every sector, it is necessary and demanded that the vehicles in today’s time should enhance the driver and passengers experience without compromising on the comfort, safety and security. Nowadays, connectivity is not just the need, but has become an integral part of life. From everyday commuters to businessmen, all want good connectivity on the go. With the uncertainty of cellular signals, it has become crucial to install devices and services that help deliver continuous signals in order to stay connected to the social world. So, a portable Wi-Fi router is very essential to access the hotspot for ensuring unbroken connectivity. The automotive companies’ are thus adopting Wi-Fi technology and are implementing advanced connectivity devices to deliver enhanced connectivity services to the customers. Additionally, the growing penetration of Internet of Things (IoT), and cloud computing in the automobile sector is permitting the automobile telematics and fleet management to offer improved solutions to the customers. Therefore, the thriving automotive industry is creating great opportunities for the portable automotive Wi-Fi routers in the global market.
Key Market Driver -
The advent of new 4G and 5G cellular technology and high demand for connectivity on the go is expected to drive the growth of the market in the forecast period.
Key Market Restraint -
Presence of economical alternatives such as utilization mobile phone for hotspot and availability of plug-in devices may retrain the growth of the market during the forecast period.
Globally, the Portable Automotive Wi-Fi Router market is segmented by vehicle type, by sales channel type, and by geographic coverage. The vehicle type is further segmented into passenger cars and commercial vehicles. The passenger cars segment holds the major share in the global market and is expected to uphold its dominating position over the forecast period. The increasing urbanization, high demographic growth, improvement in the living standards, as well as rise in the disposable income are the primary factors that are escalating the sales and production of passenger cars across the world. The constant innovation and development in the automotive sector along with the advent of new cellular technology such as 4G and 5G are boosting the demand for constant connectivity on the go. The automotive manufacturers are also investing large amount of money to incorporate connectivity solutions in vehicles to make the life of the consumers easier, simpler and more comfortable. The sales channel is further segmented into OEM and aftermarket. The OEM segment accounts for the major share in the global market. Over the past few years, the automotive industry has seen a rapid change in the development of advanced technologies and also the manufacturers are focusing on implementing latest solutions and systems in their vehicles in order to meet the rising demand and maintain their leading position in the market. Nowadays, not only the premium and high end vehicles are equipped with connectivity systems but also the mid-sized and compact cars are provided with the latest connectivity solutions as this requirement has become a need of an hour for everyone. Thus, most of the cars have in-built portable Wi-Fi router which leverages the growth of the OEM segment in this market. However, the aftermarket is also expected to show a substantial growth in the market as many individuals opt for aftermarket solutions as the quality of these products have gone up to match the original company manufactured products. Also, the existing vehicles without these advanced facilities in them are now inclined towards installing these systems in their vehicles to meet the latest trend and also fulfil the need of connectivity in today’s time.
Major players operating in the global Portable Automotive Wi-Fi Router market include KuWFi Technology Co., Ltd, ZTE Corporation, Huawei Technologies Co., Ltd., TP-Link, Sierra Wireless, Linksys, Teldat Group, and NETGEAR Inc. among others.
Geographically, the Portable Automotive Wi-Fi Router market is segmented into North America, Europe, Asia Pacific, and the rest of the world. The North America and Europe are the leading regions among others as they have a well-established product market and collectively account for a high revenue contribution in the global market. However, the Asia Pacific region is expected to witness a fastest growth in terms of value as well as volume. Developing and developed economies including China, India, Japan, and South Korea are the major contributors for the rapid growth of the market owing to the presence of various automotive manufacturers and their plans to expend the production capacities in these countries. Also, the high number of sales and production of passenger cars in this region is likely to thrive the growth of the portable automotive Wi-Fi routers in the global market. Middle East and Latin America regional markets are expected to witness a steady growth, creating relatively high opportunities during the forecast period.
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