Pune, India, July 13, 2022 (GLOBE NEWSWIRE) -- The global Wi-Fi as a service market size was USD 1.70 billion in 2020. The market is projected to grow from USD 2.04 billion in 2021 to USD 8.80 billion in 2028 at a CAGR of 23.2% during the 2021-2028 period.
This information is presented by Fortune Business Insights™, in its report, titled, “Wi-Fi as a Service Market Forecast, 2022-2028.”
According to our researchers, vital players in the market are emphasizing on extending their business divisions across emerging nations. For example, in April 2021, in Saudi Arabia, the Communications and Information Technology Commission announced that it will be the prime country to use the complete 6 GHz frequency spectrum for Wi-Fi.
Key Industry Development:
November 2021: CTI connect teamed up with Tarana to help members of WISP community based in Canada and the U.S. Furthermore, this will also permit suppliers to offer fiber class service speeds with declined rates and wider market.
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Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2022 to 2028 |
| Forecast Period 2021 to 2028 CAGR | 23.2% |
| 2028 Value Projection | USD 8.80 Billion |
| Base Year | 2020 |
| Wi-Fi as a Service Market Size in 2020 | USD 1.70 Billion |
| Historical Data for | 2017 to 2019 |
| No. of Pages | 160 |
| Segments covered | Access Point; Location; Organization Size; End-User |
| Wi-Fi as a Service Market Growth Drivers | Cloud-Based Wi-Fi Infrastructure Administration and Remote Troubleshooting to Aid Growth |
| Heightened Demand for High-Speed and Widespread Network Coverage to Fuel Growth | |
| Threat to Privacy, Data Security, and Cloud Connectivity Failure Hinder Growth |
COVID-19 Pandemic to Generate Notable Growth Prospects for Market Players
The COVID-19 outbreak has considerable sway on the development of the Wi-Fi as a service across the globe. Since the worldwide shutdown, demand for high speed Wi-Fi services has increased in most countries, on account of the increasing inclination of working from home. The growing demand has made a substantial contribution to the Wi-Fi industry's income growth, and led to the Wi-Fi as a service market growth. Additionally, prime companies are establishing and delivering advanced apps and services.
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Drivers and Restraints:
Increased Demand for High-Speed and Widespread Network Coverage to Fuel Growth
The growing demand for high speed network is likely to drive the growth of the Wi-Fi as a Service Market size. Dial-up service has long been the most popular mode of access across commercial applications. Advanced developments have made it feasible for even residential customers to have low-cost high-speed or broadband access. Further, players are substantially investing in the carrier industry since the cost of implementing the service is significantly economical than that of other services.
Segmentation:
On the basis of access points, the market is classified into stand-alone access points, multifunction access points, and controlled access points. Controlled access points is projected to have notable growth as these are commonly used in the retail and BFSI workplace to spread a single wireless network across a large geographic region.
In terms of location, the market is branched into indoor and outdoor.
Based on organization size, the market is segregated into large enterprises and small & medium enterprises (SMEs).
On the basis of end-user, the Wi-Fi as a Service Market is divided into the banking, financial services and insurance (BFSI), retail, manufacturing, transportation, education, healthcare & life science and others.
Geographically, the market is segmented across five major regions, namely, North America, Europe, Asia Pacific, the Middle East & Africa, and South America.
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Report Coverage:
The report offers a methodical study of the market and a profound review of the prime segments of the market. It offers an extensive examination of vital players and their insightful strategies to spur the market growth for monetary gains. It also describes tangible visions which guide business owners with their investment point of view. The regional dynamics and how they shape the market in an upward curve are presented in the following report. Moreover, COVID-19 sways have been added for additional information and how it is anticipated to affect the growth of the Wi-Fi as a service market in future.
Regional Insights:
North America held the largest Wi-Fi as a service market share and witnessed prompt growth in trend, owing to preliminary implementation of progressive technologies and high competitive landscape.
Key players in Europe are expansively embracing the service for smart cities ventures, owing to the adoption of digital technologies with considerable growth rate.
The Wi-Fi as a Service Market growth across Asia Pacific is directed by Japan, China, South Korea, India, and others.
Competitive Landscape:
Collaborations among Companies to Fortify their Brand Values in Global Market
Fundamental players in the market are incessantly rooting for operative strategies to endorse their products and inaugurate their positions in the market. One such tactic is to unveil novel products by teaming up with other companies to extend their reach to end-users.
List of Key Players Mentioned in the Report:
- Juniper Networks Inc. (California, U.S.)
- Cisco System Inc. (California, U.S.)
- HPE (Aruba) (California, U.S.)
- Extreme Networks (California, U.S.)
- Huawei Technologies Co. Ltd. (Shenzhen, China)
- Fortinet (California, U.S.)
- Ruckus Networks (California, U.S.)
- Arista Networks (California, U.S.)
- D-Link Corporation (Taipei, Taiwan)
- TP-Link (Shenzhen, China)
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Major Table of Contents:
- Introduction
- Definition, By Segment
- Research Methodology/Approach
- Data Sources
- Key Takeaways
- Market Dynamics
- Macro and Micro Economic Indicators
- Drivers, Restraints, Opportunities and Trends
- Impact of COVID-19
- Short-term Impact
- Long-term Impact
- Competition Landscape
- Business Strategies Adopted by Key Players
- Consolidated SWOT Analysis of Key Players
- Global Wi-Fi as a Service Market Share Analysis and Matrix, 2020
- Key Market Insights and Strategic Recommendations
- Profiles of Key Players
- Overview
- Key Management
- Headquarters etc.
- Offerings/Business Segments
- Key Details
- Employee Size
- Key Financials
- Past and Current Revenue
- Geographical Share
- Business Segment Share
- Recent Developments
- Overview
- Annexure / Appendix
- Global Wi-Fi as a Service Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2017-2028
- By Access Points (USD)
- Standalone Access Point
- Multifunction Access Point
- Controlled Access Point
- By Location (USD)
- Indoor
- Outdoor
- By Organization Size (USD)
- Large Enterprises
- Small and Medium Enterprises (SMEs)
- By End-user (USD)
- Banking, Financial Services and Insurance (BFSI)
- Retail
- Manufacturing
- Transportation
- Education
- Healthcare
- Others (Oil & Gas, etc.)
- By Region (USD)
- North America
- South America
- Europe
- Middle East & Africa
- Asia Pacific
- By Access Points (USD)
- Global Wi-Fi as a Service Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2017-2028
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