Wi-Fi analytics helps to gain information of a particular user such as the location of the user the order in which they visit and time spent on every location. The increasing incorporation of wireless technology by various business organizations in order to develop enhanced understanding about their customer is the major factor driving the growth of the global wi-fi analytics market. The information retrieved from wi-fi analytics technique helps the companies in targeting large customer base in order to position their events and promotions in the minds of the customer.
Moreover, increasing popularity of wi-fi analytics in hospitality domain is another factor pertaining towards the growth of wi-fi analytics market across the globe. Wi-fi analytics enables companies to understand their guest in a well-versed manner that further results in creating ample opportunities for service providers to increase their revenue and thus revitalize their brand.
Insight by Location Type
There are two types of wi-fi analytics market on the basis of location type outdoor and indoor location. Among these two segments, outdoor location is expected to witness faster growth of during the forecast period since business organizations are inscribing tags on several products that help the providers to effectively measure the location of its customers. Furthermore, this tracking practice helps the providers in measuring the level of satisfaction attained by the customer that further helps them in molding and developing the layout of the product.
Insight by Component
On the basis of component wi-fi analytics market is segmented into services and solutions. Based upon service market is further sub-categorized into managed and professional services. Furthermore, on the basis of solutions, the market is further classified into wi-fi based indoor positioning system and wi-fi based location analytics solution. Among these two segments, wi-fi analytics solutions are anticipated to generate larger revenue throughout the estimated period since these solutions enable the providers to gain information about visitors with the help of wireless network. Furthermore, these solutions provide detailed insights about visitors and help the business organizations to undertake effective decisions related to business operations.
Insight by Deployment Type
On the basis of deployment type, the wi-fi analytics market is segmented into cloud and on-premises. Cloud is anticipated to witness faster growth during the forecast period since wi-fi analytics system once incorporated in an enterprise helps the users to solve the problem of encoding and resolves compatibility issues. Moreover, cloud-based deployment helps in developing a database that further enhances the effectiveness of business operations along with expanding their customer base.
Insight by Application
The global wi-fi analytics market has also been segmented by application into customer engagement, customer loyalty management, customer experience management, footfall analytics and customer behavior analytics. Among these segments, customer experience management is anticipated to witness the fastest growth in demand for these solutions during the forecast period. The growth of this segment is attributed towards increasing adoption of wi-fi analytics by business organizations in order to know their customer in an improved manner.
Moreover, it enables the customer to search for the product by tracing their buying habits and provide visibility of products of their choices on their online stores and assist them at the time of check out. These steps ensure to deliver maximum satisfaction to the customers and help the companies to make effective marketing decisions and enhance their revenue.
Insight by Industry
Based upon industry wi-fi analytics market is segmented into sports and leisure, retail, healthcare, transportation, hospitality and others. Among these segments, retail domain is anticipated to witness the fastest growth during the forecast period. It has been observed that brick and mortar stores are extensively utilizing location-based services in order to advertise and endorse their products. Moreover, there are several large-scale retail outlets, restaurants, cafes and hotels are significantly positioning their wi-fi marketing strategy in order to expand their market base.
The emergence of big data and IoT in various industries along with increasing adoption of wi-fi and internet amongst consumers is the key trend observed in the wi-fi analytics market across the globe. It has been observed that in various developed as well emerging economies dependence upon wi-fi facilities is increasing at a significant rate with increasing expectation among the customers pertaining to the high and fast connectivity of internet services.
Moreover, big data analytics deployment in business organizations provides purchasing behavior of the customers, helps in generating trend analysis along with historical associations which further helps in optimizing user’s experience and make their buying process satisfactory. These trends are thus enhancing the growth of wi-fi analytics market worldwide.
Increasing competition among various e-commerce sites, increasing initiatives undertaken by the government towards smart city project, increasing utilization of big data among various brick and mortar stores are the key factors that are driving the growth of global wi-fi analytics market at a rapid pace.
With the help of wi-fi analytics technology business organizations are able to engage their customers effectively with extensive personalization in providing their services. With the help of these services business enterprises are able to stimulate business transactions in the most effective manner. Furthermore, wi-fi analytics technology is enabling companies to enhance their performance and make effective exchange transactions. Moreover, these factors are thereby bolstering the growth of wi-fi analytics market across the globe.
Increasing privacy concerns with the use of wi-fi analytics technology and increasing regulations and amendments introduced by government are the major factors that are hampering the growth of wi-fi analytics market across the globe.
Globally industry players are improving their wireless connectivity and network that has enabled them to provide enhanced service to the customers, introduced new products and are developing new learning capabilities in order to leverage the market growth of wi-fi analytics market across the globe.
Geographically, North America is the largest wi-fi analytics market due to increasing adoption of big data analytics by several organizations in this region and increasing investment towards the latest technologies by key players. Increasing adoption of wi-fi analytics enables the companies to understand the behavior of their consumer in an effective manner along with ensuring retention of customers since this technology provides data pertaining to buying behavior and patterns of the consumer. It has been observed that retailers that are utilizing big data in their day to day operations are improvising their business operations and long-term strategies in an effective manner.
Moreover, Asia-Pacific is anticipated to witness the fastest growth in the wi-fi analytics market during the forecast period due to increasing penetration of smart devices in the region along with increasing adoption of wi-fi analytics technology from various restaurants and stores in the region. The restaurants and stores in this region are rapidly using wi-fi based asset tracking that attaches wi-fi tags on a particular product that further helps the companies to develop database comprising of their locations. These factors are thereby strengthening the growth of wi-fi analytics market in Asia-Pacific.
Increasing activities related to research and development, efficient product positioning amongst the customers along with enhanced infrastructural facilities in several companies are the factors leveraging the growth of wi-fi analytics market across the globe. The market structure for wi-fi analytics market is a consolidated structure and the key players operating in the global wi-fi market include Purple, Zebra Technologies, Skyfii, Fortinet, Yelp, Euclid, Ruckus Wireless, July Systems and Cloud4wi.