| Status : Published | Published On : Mar, 2023 | Report Code : VRICT5162 | Industry : ICT & Media | Available Format :
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Page : 250 |
Global Wi-Fi as a Service Market – Analysis and Forecast (2023-2030)
Industry Insight by Service (Managed Services and Professional Services (Advisory and Implementation, Support and Maintenance, and Training), by Solution (Wireless Local Area Network (WLAN) Controllers and Access Points), by Location Type (Indoor and Outdoor), by Organization Size (Large Enterprises and Small and Medium Enterprises), by Vertical (Education, Retail, Travel and Hospitality, Healthcare and Life Sciences, Manufacturing, Banking, Financial Services, and Insurance, Service Providers, Transportation and Logistics, Government and Public Sector, and Others), and Geography (U.S., Canada, Germany, U.K., France, China, Japan, India, and Rest of the World)
Industry Overview
During the projected period 2023-2030, the global wi-fi as a service (WaaS) market is estimated to develop at a CAGR of 19.6 percent, from USD 4.85 billion in 2022 to USD 15.56 billion in 2030. WiFi as a Service (WaaS) is a subscription-based method that integrates infrastructure, software, and managed services in a single package. It's simple to use, saves time, doesn't require cable installation, and allows 24/7 remote monitoring and troubleshooting of configuration difficulties. It enables reliable network connections for back-office and customer use while giving a framework for constructing an intelligent multichannel customer experience.
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Thus, it is used to provide secure wireless local area network (WLAN) access across multiple locations in enterprises with limited information technology (IT) resources. Users can also benefit from a fast data network because it can be managed by a network operating center (NOC). The robust development of technologies, and digital platforms in businesses, and customers are converting their CAPEX and OPEX-based business models to subscription-based consumption models to reduce the cost of ownership, which is driving the WaaS industry forward.
In the face of COVID-19, Wi-Fi networks were critical to national resilience. With the expanding number of connected gadgets and people working remotely, there has been a global growth in work-from-home Wi-Fi activity. However, due to shelter-in-place directives, Wi-Fi use in public locations such as coffee shops, hotels, and airports has plummeted. In post-pandemic circumstances, it is projected that the use of enterprise-class and high-density Wi-Fi solutions will continue to rise.
Market Segmentation
Insight by Service
Based on service, the global Wi-Fi as a service market is classified into managed services and professional services. Professional services are further divided into advisory and implementation, support and maintenance, and training. The managed services are anticipated to have the largest share during 2022-2030 owing to the mounting adoption of managed services in various end-user so as to address budget constraints and lack of technological knowledge will propel the growth of the segment. When the Wi-Fi network is outsourced to a competent managed service provider, it is referred to as managed services. It boosts employee productivity while also providing a positive consumer experience. However, the professional services segment is anticipated to have constant growth owing to the increased need to provide consultancy, training, implementation, support, maintenance, and advisory services about Wi-Fi network infrastructure among end-users.
Insight by Solution
Based on the solution, the global Wi-Fi as a service market is classified into wireless local area network (WLAN) controllers and access points. WLAN controller is anticipated to witness the largest market share as these controllers can provide several deployment solutions as per the need of the clients and reduce operational costs. Furthermore, the surge in Wi-Fi deployments, particularly in the retail, travel, and hospitality sector will propel the demand for WLAN controllers in the global WaaS market.
Insight by Location Type
Based on location type, the global Wi-Fi as a service market is bifurcated into indoor and outdoor. The outdoor segment is expected to have a significant share during the forecast period owing to the increased installation of outdoor access points for smart cities and colleges and universities. The demand for internet connectivity in high-density areas such as malls, public parks, education centers, and parking spaces is expanding as a result of the increasing market penetration of smart consumer goods such as smartphones, laptops, and tablets, among others. Furthermore, several governments throughout the world are rapidly investing in providing free Wi-Fi connectivity in public transportation services to assure traveler safety. These all factors will accelerate the growth of the outdoor location segment in the Wi-Fi as a service market.
Insight by Organization Size
Based on organization size, the global Wi-Fi as a service market is categorized into large enterprises and small and medium enterprises. The SME holds the largest share in the market as Wi-Fi as a Service offers high productivity and decreased operational costs. Furthermore, there is increased adoption of Wi-Fi as a Service for small and medium enterprises operating in education, retail, healthcare and life sciences, travel, and hospitality. Wi-Fi services have enabled SMEs to gain access to fast, consistent, and secure networking performance without having to establish or manage cable-based connectivity in their offices, resulting in market growth.
Insight by Vertical
On the basis vertical, education, retail, travel and hospitality, healthcare and life sciences, manufacturing, banking, financial services, insurance, service providers, transportation and logistics, government and public sector, and others make up the global Wi-Fi as a service market. Service providers dominate the Wi-Fi as a service market owing to the rising demand for bandwidth among consumers and increased penetration of internet connectivity will fuel the growth of the Wi-Fi as a Service market. Infrastructures in the government and public sector contain critical data. WiFi as a service can be used to build a specialized network for government proceedings alone, resulting in a more effective and efficient communication route.
Wi-Fi as a Service Market Report Coverage
|
Report Metric |
Details |
|
Historical Period |
2018–2022 |
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Base Year Considered |
2022 |
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Forecast Period |
2023-2030 |
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Market Size in 2022 |
$4.85 Billion |
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Revenue Forecast in 2030 |
$15.56 Billion |
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Growth Rate |
19.6% |
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Segments Covered in the Report |
By Service, By Solution, By Location Type, By Organization Size, and By Vertical |
|
Report Scope |
Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Companies’ Strategic Developments; Market Share Analysis of Key Players; Company Profiling |
|
Regions Covered in the Report |
North America, Europe, Asia-Pacific, Middle East, and the Rest of the World |
Industry Dynamics
Industry Trends
The rising traction in the BFSI sector so as to offer security protection, decrease latency, and provides business with a competitive edge are the trends prevalent in the Wi-Fi as a service market. Also, it is extensively used by SMEs to acquire analytics about customer engagement and take action in real-time. The evolving trend of Wi-Fi marketing is a state-of-art technology for brick-and-mortar businesses to develop loyalty among customers, perform relevant digital ads, send emails and messages, and automate customer communications.
Growth Drivers
Factors attributing to the growth of Wi-Fi as a service market owing to the demand from organizations to decrease the cost of ownership of Wi-Fi infrastructure and its remote troubleshooting, rising demand for high-speed and extensive network coverage, rising adoption of BYOD and CYOD trend in the businesses, increased influx of mobile devices at the workplace, and the increasing investment in smart cities will accelerate the growth of the market. The cloud-based centralized management of the Wi-Fi as a service business saves money and time by allowing network managers to resolve problems with Wi-Fi infrastructure remotely via a network management interface from a remote location. Also, it is deployed in the healthcare industry to provide healthcare professionals timely health information, reminders, and support along with monitoring patients remotely.
Cost-effectiveness: WaaS eliminates the need for upfront investment in hardware and infrastructure, allowing organizations to adopt a subscription-based model. This reduces capital expenditure and provides cost predictability.
Scalability and flexibility: WaaS enables businesses to scale their Wi-Fi networks up or down based on their requirements. It provides the flexibility to accommodate changing needs, such as seasonal fluctuations or business expansions.
Centralized management: WaaS providers typically offer centralized management platforms that allow organizations to monitor and control their Wi-Fi networks from a single interface. This simplifies network administration, troubleshooting, and policy enforcement.
Challenges
The failure in cloud connectivity can impact business-critical functions and data security issues may impede the growth of the Wi-Fi as a service market. Another major issue is natural or man-made disasters, which can destroy data centers, causing loss of internet connectivity and disrupting many business processes.
Opportunities
The surge in demand for Wi-Fi as a service from small and medium enterprises owing to automation, flexible, cost-effective, and scalable Wi-Fi networks will create lucrative growth opportunities in the market. Furthermore, increased adoption of cloud technology, IoT, etc. will provide functioning of network service, resulting in growth potential in the market.
Geographic Overview
North America dominates the Wi-Fi as a service market owing to massive investment in cloud-based solutions, rapidly growing infrastructure, favorable policies by the government, and are early adopters of technology. Furthermore, the presence of key industry players like Cisco, Extreme Networks, etc., substantial adoption of IoT, and advancement of smart cities will fuel the growth of the Wi-Fi as a service market.
Competitive Insight
The global market for WaaS solutions and services is extremely competitive, thus suppliers are focusing on solidifying their positions through new product development, building feature-rich solutions, and gaining higher market awareness. In order to meet the growing customer base, companies in the WaaS industry are strategically combining with domestic players to augment individual services into a multi-faceted solution.
CommScope pushes the limits of communications technology to create the world's most advanced networks. They create, manufacture, install, and maintain the hardware infrastructure and software intelligence that allows digital society to function and prosper. They've advanced into broadband, corporate, and wireless networks with the help of consumers to power progress and establish enduring partnerships. People and solutions all across the world are redefining connectedness, solving today's problems, and driving innovation that will meet the requirements of the future. CommSpace thrives to innovate by offering a portfolio that includes HELIAX, SYSTIMAX, and NOVUX in their network solutions.
Hewlett Packard Enterprise is a global edge-to-cloud corporation that helps businesses to provide all the data. HPE provides distinctive, open, and intelligent technology solutions as a service by focusing on innovations and inventions. HPE provides a consistent experience across all clouds and edges, helping businesses establish new business models, and improve operational performance, with services encompassing Cloud Services, Compute, High-Performance Computing & AI, Intelligent Edge, Software, and Storage.
In February 2022, Cisco unveils new solutions to assist organizations in rapidly scaling networks and digitization of operations in order to reimagine the campus experience to accommodate hybrid work. With Cisco Silicon One, the company introduces the industry's first high-end Wi-Fi 6E access points, Private 5G for the enterprise as a managed service and new high-powered Catalyst 9000X series switches to give top speeds and performance with the security needed for hybrid work. Customers can simplify the technology needed for hybrid work, including smart and sustainable workspaces and secure IoT at scale, using Cisco's powerful suite of platforms, including Cisco DNA Spaces, Cisco DNA Center, and Meraki.
In February 2022, Hewlett Packard Enterprise announced that it is extending its leadership in enterprise connectivity with new private networking capabilities that span 5G and Wi-Fi, allowing new enterprise and industrial applications from edge to cloud. The private 5G solution, which is pre-integrated with radio access capabilities from leading manufacturers, can be deployed rapidly, flexibly, and as a service with HPE GreenLake.
Some of the major players operating in the Wi-Fi as a service market include Cisco, Extreme Networks, Huawei Technologies Co., Ltd., CommScope Inc., Hewlett Packard Enterprise Development LP (Aruba), Rogers Communications, Tata Communications, ADTRAN, Juniper Networks, Inc., and Telstra.
The Wi-Fi as a Service Market research includes a comprehensive market segmentation analysis as well as projections for the analysis period 2022-2030.
Segments Covered in the Report
- By Service
- Managed Services
- Professional Services
- Advisory and Implementation
- Support and Maintenance
- Training
- By Solution
- Wireless Local Area Network (WLAN) Controllers
- Access Points
- By Location Type
- Indoor
- Outdoor
- By Organization Size
- Large Enterprises
- Small and Medium Enterprises
- By Vertical
- Education
- Retail
- Travel and Hospitality
- Healthcare and Life Sciences
- Manufacturing
- Banking, Financial Services, and Insurance
- Service Providers
- Transportation and Logistics
- Government and Public Sector
- Others
Region Covered in the Report
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia-Pacific (APAC)
- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific
- Rest of the World (RoW)
- Brazil
- Saudi Arabia
- South Africa
- U.A.E.
- Other Countries
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Source: VynZ Research
.png "Wi-Fi as a Service Market Analysis")
Source: VynZ Research
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Wi-Fi as a Service Market