Mobile Broadband Modem Market: Projections Point to CAGR of 9.9% by 2032

The mobile broadband modems market would be worth US$ 48.0 billion By 2032,. From 2022 to 2032, it is projected to exhibit a moderate CAGR of 9.9%. In 2022, the market was valued at over US$ 18.6 billion.

More people than ever before have started working from home or other remote locations over recent years. This has accelerated the trend toward remote work. Mobile broadband modems offer a dependable method for remote employees to maintain an internet connection and access corporate systems & apps from any location.

Consumers and organizations can now use the internet more affordably thanks to the recent sharp decline in the price of mobile data. As more people can nowadays afford the price of data plans and equipment, it has contributed to growth in the mobile broadband modem industry.

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In the years following the pandemic, about 80% of people are working from home at least three times per week, up from the 52% who did so before the outbreak.

Around the world, 16% of businesses now allow employees to work permanently from home. Sales of mobile broadband modems are anticipated to rise over the assessment period as remote work expands globally.

Applications involving the Internet of things (IoT) frequently use mobile broadband modems. Wireless networks are often used to link IoT devices to the internet. These gadgets can be connected to the internet in a dependable and adaptable manner using mobile broadband modems.

In remote or difficult-to-reach areas without fixed-line broadband connections, these modems can also be employed for IoT applications. In the event of a primary internet outage, these can be utilized in IoT to provide a backup internet connection.

Mobile broadband modems can be crucial for Internet of Things (IoT) applications that need constant communication, including security systems or industrial monitoring software.

In 2019, there were around 8.6 billion IoT-connected devices; by 2022, there will be over 13 billion connected devices. By 2030, it is anticipated that there will be about 29 billion linked IoT devices worldwide. Mobile broadband modem demand is anticipated to soar due to rising IoT demand globally.

Leading Key Players:

The leading key players in the mobile broadband modem market include D-Link, Netgear, Motorola, TP-LINK, Cisco-Linksys, Belkin, Huawei, Hewlett-Packard, Minim Inc., and Beetel. These companies offer a diverse range of mobile broadband modems catering to various consumer needs, contributing significantly to the advancement and accessibility of high-speed internet connectivity worldwide.

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