MiFi Market Size, Share, and COVID-19 Impact Analysis, By Type (High-Density Wi-Fi, Enterprise-Class Wi-Fi), By Organization (Large Enterprise, SMEs), By Application (Telecom and IT, Hospitality, Healthcare, Education, Financial Services, Transportation, Retail), and Regional Forecast, 2024-2032

MiFi a portable broadband device that allows mobile devices and multiple end-users to create an ad-hoc network and share mobile broadband internet connection. MiFi uses cellular signals to give a wireless internet connection. It can be used on cell phones with built in secure functions or through an independent mobile hotspot with a cellular data plan and sim card.

MiFi, named by Novatel, is often used as a generic label for any device capable of becoming a pocket router or personal hotspot. It is different than a mobile dongle, which allows to connect only on a single device and to Wi-Fi.

MiFi depends on sim cards for internet access so the internet quality and speed depend on good mobile coverage. Most MiFi devices are basically built small, such as smart phones, so that it can easily fit into a pocket. It also consists of USB type C port so that it can be charged with universal chargers that work with today’s smartphones.

Impact of COVID-19 on the MiFi market

The market has been significantly impacted on the expansion of the internet worldwide due to the outbreak of COVID-19 pandemic. Due to movement restrictions and lockdowns across the globe, demand for high speed wireless services has been surged in most regions, owing to the growing trend of working from home. The increased demand has made a significant contribution to the MiFi market growth.

Due to the pandemic, it has risen the demand for MiFi, owing to work from home adopted by virtual learning by educational institutes and companies as well as rising demand for Over-The-Top (OTT) platforms among consumers. It also increased dependency on the internet for work, studying, and staying connected.

Furthermore, the rising demand for developed data communications led to sharing of faster information among people within the organization, which is driving market growth. However, increasing internet penetration with connected devices, such as IoT devices and smartphones, has led to employment of Internet of Things (IoT) and Bring Your Own Device (BYOD) corporate models, thereby driving revenue growth of the market.

Key Insights

The report will cover the following key insights:

• Micro & macroeconomic indicators


• Drivers, restraints, trends, and opportunities


• Business strategies adopted by the players


• Impact of COVID-19 on the MiFi market


• Consolidated SWOT analysis of the key players

Analysis by Application

Based on application, the market includes telecom and IT, hospitality, healthcare, education, financial services, transportation, and retail. The transportation segment is expected to hold the largest MiFi market share as it helps people to connect the internet without any wired connectivity and can travel from any regions with the pocket sized devices.

MiFi device also helps people to attend any meeting while travelling and can connect to social media and more devices such as smartphones can be added with MiFi devices. Due to this, there has been an increased demand for MiFi.

Regional Analysis

The global MiFi market is divided into five regions, North America, Europe, Asia Pacific, the Middle East & Africa, and South America. North America is expected to account for a major share of the MiFi market, and is expected to continue during the forecast period. The start-ups in North America are growing at a fast pace as compared to other regions.

Also, the beginning of SMEs and increasing R&D activities by large enterprises have aided the growth of the North America market. The growth is mainly driven by the increasing adoption of enterprise and business solutions. These solutions make the business processes and operations more flexible and active.

Key Players Covered

The key players in the market include Vodafone Idea Limited, Palcom International Corp, Juniper Networks, Inc, Shenzhen Junxin-Win Technology Co., Ltd, MaxComm, Shanghai Kuanyi Communication Technology Co. Ltd., Huawei Device Co., Ltd, and others.

Segmentation

Key Industry Developments

• October 2022: Fibocom, a global provider of the Internet of Things (IoT) wireless solutions and wireless communication modules, announced the launch of 5G module FG370 powered by the newly-launched MediaTek T830 platform, FG370, which is set to bring enhanced mobile broadband, low latency, and ultra-reliable 5G Fixed Wireless Access (FWA) connectivity solution for global operators.


• March 2022: Vodafone Idea launched Vi MiFi for family plans and postpaid customers. Vi MiFi is a pocket-sized 4G router that delivers reliable, high speed, and secure connectivity for multiple devices. Vi MiFi comes with an inbuilt 2700 mAh rechargeable battery that can provide uninterrupted connectivity for up to 5 hours on a single charge.