The wi-fi as a service market is projected to grow from US$ 3.66 billion in 2021 and it is expected to grow at a CAGR of 19.5% during 2022–2028.
Wi-fi as a service is a fully cloud-based management system that allows organizations with limited IT resources to provide secure, reliable, and fast WLAN access across various locations. Since the deployment of wi-fi as a service is easy and time-efficient as it involves no cable installations, can be managed via a network operating center (NOC), and consequently allows smaller business organizations to attain fast and reliable data networks.
MARKET DYNAMICS
Growing competitiveness, coupled with losses incurred by businesses amid the COVID-19 pandemic, is compelling businesses to reduce their operational costs and focus more on core business activities. Such requirements have been positively impacting wi-fi as a service market growth. With the aid of wi-fi as a service, enterprises can reduce their operational expenditure, as no investment in the purchase and upgrading of IT infrastructure is required. The service also enables enterprises to provide secure and fast wireless local area networks (WLAN) across different locations. Such factors are collectively driving the wi-fi as a service market forward.
MARKET SCOPE
The "Global Wi-fi as a Service Market Analysis to 2028" is a specialized and in-depth study of the market with a special focus on market trend analysis. The report aims to provide an overview of the market with a detailed analysis of market segmentation by service, user location, organization size, and industry. The global market is expected to witness high growth during the forecast period. The report provides key market statistics based on the revenue performances of the leading wi-fi as a service industry players. It also offers mentioned and describes trends and opportunities in the market.
Strategic Insights
MARKET SEGMENTATION
The wi-fi as a service market is segmented on the basis of service, user location, organization size, and industry. On the basis of service, the market is segmented into design & configuration, network implementation, wi-fi analytics, and managed services. Based on user location, the market is bifurcated into indoor and outdoor. On the basis of organization size, the market is segmented into small & medium enterprises and large enterprises. The wi-fi as a service industry, by industry, is segmented into healthcare, BFSI, transportation and logistics, IT, manufacturing, and others.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global wi-fi as a service industry based on various segments. It also provides the market size and forecast from 2020 to 2028 with respect to five major regions: North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America. The market in each region is further segmented into respective countries and segments. The report entails the analysis and forecast of 18 countries, along with current trends and opportunities prevailing in a particular region.
North America dominated the wi-fi as a service market with ~36% market share in 2021. The dominance of this region in the market is majorly attributed to the presence of several major enterprises from all industry verticals and the operations of a large number of wi-fi as a service market players in the region. A few of the key market players functioning in North America include Cisco Systems, Inc.; CommScope, Inc.; and Juniper Networks Inc. These wi-fi as a service industry players witness continuous demand from various enterprises from all verticals. The following figures showcase the revenue growth trend in the global wi-fi as a service market.
Source: The Insight Partners Analysis
The report analyzes factors governing the market from the demand and supply sides, along with evaluating market dynamics, i.e., drivers, restraints, opportunities, and future trends. It also provides exhaustive PEST analysis of the wi-fi as a service market in these regions.
IMPACT OF COVID-19 PANDEMIC
The US, India, Brazil, France, Russia, Turkey, the UK, Argentina, and Colombia were among the worst-affected countries by the COVID-19 pandemic. The global outbreak disrupted industries, including automotive, manufacturing, energy & power, aerospace & defense, and construction, in 2020. Implementing containment measures such as trade bans, travel restrictions, and workforce limitations at workplaces hampered manufacturing, supply, and sales businesses. Such disruptions encouraged the adoption of wi-fi as a service among enterprises, as a part of their cost management measures. Enterprises partnered with wi-fi as a service market players for reducing IT infrastructure costs, while ensuring a reliable WLAN connection throughout all locations. Thus, the COVID-19 pandemic favored the growth of the wi-fi as a service market.
MARKET PLAYERS
The reports cover key developments in the wi-fi as a service market organic and inorganic growth strategies. Various companies in the wi-fi as a service market are focusing on organic growth strategies such as product launches and approvals, and patents and events. Inorganic growth strategies witnessed in the market include acquisitions, partnerships, and collaborations. These activities pave the way for the expansion of businesses and clientele. The list of several companies engaged in the wi-fi as a service market is mentioned below.
- Alcatel-Lucent Enterprise
- Cisco Systems, Inc.
- CommScope, Inc.
- Fortinet, Inc.
- Fujitsu Ltd.
- Juniper Networks Inc.
- Rogers Communications
- Telstra Corporation
- Ubiquiti Inc.
- Viasat Inc.
The report includes the profiles of key wi-fi as a service market companies, along with their SWOT analysis and prominent market strategies. In addition, the company profiles section focuses on information such as components and services offered, financial information of the last 3 years, and key developments in the past 5 years.
The Insight Partner's dedicated research and analysis team consists of experienced professionals having advanced statistical expertise. They offer various customization options in the existing study.