New York, March 16, 2023 (GLOBE NEWSWIRE) -- The Insight Partners’ recent research study on “Wi-Fi as a Service Market Size, Share, Trends, Growth and Global Forecast to 2028 – COVID-19 Impact and Global Analysis – by Service (Design & Configuration, Network Implementation, Wi-Fi Analytics, and Managed Services), User Location (Indoor and Outdoor), Organization Size (Small & Medium Enterprises and Large Enterprises), Industry (Healthcare, BFSI, Transportation and Logistics, IT, Manufacturing, and Others), and Geography”, the global wi-fi as a service market is projected to grow from USD 3.66 billion in 2021 to USD 13.34 billion by 2028, it is expected to grow at a CAGR of 19.5% during 2022–2028.
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Understanding the Wi-Fi as a Service Market:
The Wi-Fi as a Service (WaaS) market has been rapidly growing in recent years due to the increased need for reliable and high-speed internet connectivity. Businesses are always looking for ways to stay competitive, and providing seamless connectivity to employees and customers is essential in today's digital age. WaaS provides businesses with a comprehensive and cost-effective solution for their Wi-Fi needs.
Global Wi-Fi as a Service Market – Report Scope:
| Market Size Value in | USD 3.66 Billion in 2021 |
| Market Size Value by | USD 13.34 Billion by 2028 |
| Growth rate | CAGR of 19.5% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2021 |
| No. of Pages | 150 |
| Historical data available | Yes |
| Segments covered | Service, User Location, Organization Size, Industry, and Geography |
| Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
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Global Wi-Fi as a Service Market – Growth Outlook:
Wi-fi as a service is a subscription-based service offering that integrates software, infrastructure, and managed services. Software offerings include solutions for centralized network management, business intelligence, captive portals, and location services, among others. Infrastructure includes access points, firewalls, and internet service providers (ISPs). Through managed services, customers of the wi-fi as a service market players can avail 24×7 monitoring and assistance for troubleshooting any issues with networks. Moreover, enterprises can provide secure and fast wireless local area networks (WLAN) across different locations using wi-fi as a service. This drastically reduces their operational expenditure (OPEX) since no investments in the purchase and upgrading of IT infrastructure, and appointment of in-house IT teams is required. Additionally, with the shrinking lifecycles of electronics, enterprises don’t need to upgrade their systems on a frequent basis, further saving operational costs. Such varied advantages are collectively driving the wi-fi as a service market growth. The increasing use of public wi-fi across different industry verticals is also contributing to the wi-fi as a service market growth. Industry 4.0 and cloud-managed wi-fi services are other prominent trends that are benefitting the wi-fi as a service market growth.
Global Wi-Fi as a Service Market Trends:
1. Rise of Smart Cities
Smart cities are using WaaS to provide residents with reliable and high-speed connectivity. Wi-Fi connectivity is essential in smart cities, as it facilitates the efficient functioning of smart devices and technologies.
2. Increased Adoption of Cloud Computing
The increased adoption of cloud computing is driving the demand for WaaS. Businesses are looking for cost-effective and efficient ways to access cloud services, and WaaS provides them with the necessary connectivity.
3. Growing Demand for Mobile Connectivity
The growing use of mobile devices is driving the demand for WaaS. Businesses need to provide their customers with reliable and high-speed connectivity to access mobile apps and services
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Global Wi-Fi as a Service Market: Competitive Landscape
Alcatel-Lucent Enterprise; Cisco Systems, Inc.; CommScope, Inc.; Fujitsu Ltd.; and Juniper Networks Inc. are among the key wi-fi as a service market players profiled during the study. Several other major wi-fi as a service market players were studied and analyzed during this research study to get a holistic view of the wi-fi as a service market and its ecosystem.
Benefits of Wi-Fi as a Service - Market Insights:
WaaS has several benefits for businesses, including:
1. Cost-Effective
WaaS providers offer flexible pricing plans that allow businesses to choose a package that meets their budget and needs. Businesses don't have to worry about investing in hardware or maintenance costs, making it a cost-effective option for Wi-Fi connectivity.
2. Scalability
WaaS providers can easily scale their services to cater to a business's changing needs. As businesses grow, they can easily upgrade their package to accommodate more devices and users.
3. Reliable Connectivity
WaaS providers manage the network infrastructure, ensuring that the Wi-Fi network is always up and running. Clients can enjoy reliable connectivity without worrying about downtime or maintenance.
4. Security
WaaS providers offer enterprise-level security features, such as encryption and access controls, to protect businesses' data and devices.
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