New York, US, June 08, 2022 (GLOBE NEWSWIRE) -- Wi-Fi as a Service Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Wi-Fi as a Service Market Analysis by Hardware, By Service, By Industry, By Organization Size - Forecast 2030” valuation is poised to reach USD 12.2 Billion by 2030, registering an 20.1% CAGR throughout the forecast period (2021–2030).
Wi-Fi as a Service Market Report Scope:
The wi-fi as a service market outlook appears promising, witnessing the rising demand. The benefits of wifi-as-a-service are immense for enterprises of all sizes. The most prominent ones are improved customer experience, sophisticated connectivity, and user intelligence from location-based analytics. Of course, the proliferation of smart connected devices and wi-fi networks is an equally important factor.
| Report Metric | Details |
| Market Size | USD 12.2 Billion |
| CAGR | 20.1% |
| Base Year | 2020 |
| Forecast Period | 2021-2030 |
| Historical Data | 2019 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Hardware, Service, Industry, Organization Size and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Vendors | Cisco Systems Inc. (US), Telstra Corporation Limited (Australia), Singapore Telecommunications Limited(Singapore), Fujitsu Limited(Japan), Rogers Communication Inc. (US), Hewlett Packard Enterprise Company(US), Big Air Group Limited(Australia), Ruckus Wireless (US), Zebra Technologies Corporation (US), and IPASS Inc. (US) |
| Key Market Opportunities | With the high adaptation of advanced new technology, small and medium enterprises require automated, cost-efficient, flexible, and scalable Wi-Fi networks |
| Key Market Drivers | Rising Demand for Industrial-Grade Private Wireless Solution Enhances Market Size |
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Wifi-as-a-service networks allow enterprises to engage with end consumers through location-based advertising and optimize their experience. Choosing the WaaS subscription model allows organizations to gain enterprise-grade wireless networks with enhanced security and expertise while avoiding extra expenses and short life cycles.
The WiFi-as-a-Service (WaaS) model refers to subscription-based services that integrate three essential components such as software, infrastructure, and managed services. Many companies are now progressively turning to the WaaS model to ensure reliable wireless connectivity through internal WiFi access to their clients and staff.
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At the same time, industry players or service providers are increasingly working to improve their capabilities to support wireless networks for such organizations. Many service providers are improving their industrial connectivity edge-centric solution portfolio with the digital automation cloud wi-fi solution. Besides, the rising demand for industrial-grade private wireless solutions with Wi-Fi to provide more connectivity options for industries drives the market growth.
The secure, low-latency and reliable connectivity allow enterprises to access, analyze, and work on operational data in real-time to avail new capabilities and improve efficiencies. Many organizations embrace Industry 4.0, so wireless networks have become crucial to connecting industrial assets. Therefore, organizations are increasingly implementing various technologies and Wi-Fi solutions & services to connect assets.
Also, many are upgrading to Wi-Fi 6 to improve capabilities for connected legacy assets and services. Organizations strive to tap into a license-free spectrum to enhance their private networks and support non-business-critical Operational Technology (OT) workflows to access machine maintenance data. However, these organizations need broad support for connecting machines, sensors, and people to accelerate their Industry 4.0 journey.
The wi-fi as a service model allows these organizations to leverage cloud-based operations & manage interface for all connectivity technologies independently, add plug & play private wireless like 4.9G/LTE/ 5G for reliable real-time connectivity, or boost capacity with Wifi6 for other connectivity needs. It also provides unparalleled flexibility and significant cost efficiencies with single platform operations.
Wi-Fi as a Service Market Segments
The Wi-Fi as a service market is segmented into hardware, services, organization size, locations, industries, and regions. The hardware segment comprises a gateway, antenna, wireless LAN controller, wireless access point, and others. The service segment comprises network planning & designing, cloud access point, support & maintenance, and others.
The organization size segment comprises small & medium scale businesses and large scale businesses. The location segment comprises indoor and outdoor locations. The industry segment comprises manufacturing & retail, education, healthcare, and others. By region, the analysis is segmented into the Asia Pacific, Americas, MEA, Europe, and the rest of the world.
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Wi-Fi as a Service Market Regional Analysis
North America leads the global wi-fi as a service market. Large technological advances and well-established infrastructure in the region drive the wi-fi as a service market. Moreover, the rising numbers of wi-fi users and the early adoption of advanced IoT & artificial intelligence (AI) technologies increase the region's wi-fi as a service market share.
Industry Trends
Other major factors fuelling the wi-fi as a service market revenues include the penetration of computer-aided systems, wearable technology, IoT, and automation technologies. Also, the proliferation of wi-fi hotspots and smart devices is expected to create significant opportunities for the market players in the coming years.
Besides, the rising automation and use of IIoT devices in manufacturing industries are expected to create substantial market demand. Similarly, increasing trends like smart homes and smart city projects worldwide are expected to provide immense impetus to the growth of the wi-fi as a service market.
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Wi-Fi as a Service Market Competitive Analysis
Dominant Key Players on Wi-Fi as a Service Market Covered are:
- Cisco Systems Inc. (US)
- Telstra Corporation Limited (Australia)
- Singapore Telecommunications Limited(Singapore)
- Fujitsu Limited(Japan)
- Rogers Communication Inc. (US)
- Hewlett Packard Enterprise Company(US)
- Big Air Group Limited(Australia)
- Ruckus Wireless (US)
- Zebra Technologies Corporation (US)
- IPASS Inc. (US)
The wi-fi as a service market witnesses several strategic approaches, such as mergers & acquisitions, partnerships, expansion, collaboration, and product/ technology launches. These market players make significant investments to drive research and development activities and expansion plans.
For instance, recently, on May 01, 2022, Starlink from SpaceX announced its partnership with airlines to offer improved in-flight wi-fi services. Flight passengers have been requesting in-flight wi-fi service to remain connected to the internet, even at high altitudes. Of course, some airlines have been offering in-flight wi-fi services to passengers currently, but they are expensive and nowhere near a good Wi-Fi setup in terms of speed.
Therefore, Starlink decided to change these scenarios with improved in-flight wi-fi services. SpaceX has also started to deal with airline companies to offer satellite-based internet services to flyers. The company has also secured deals with Hawaiian Airlines and charter airline JSX to bring its Wi-Fi services on their flights, and both airlines confirmed that they are planning to offer these in-flight Wi-Fi services to passengers for free. The idea of bringing improved in-flight Wi-Fi has been on the mind of Starlink for a while now, and it was developing an aviation product.
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