The ‘Global Wi-Fi as a Service Market Size, Share, Growth, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the Wi-Fi as a service market, assessing the market on the basis of its segments like component, location type, enterprise size, industry vertical, and major regions.
Wi-Fi as a Service Market Share, Size, Trends, Report, Key Player, Major Segments and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
- Forecast CAGR (2023-2028): 17.5%
The global Wi-Fi as a service market is being driven by the growing importance of reliable and high speed Wi-Fi services across various industry verticals to support smooth functioning of business operations. The demand for Wi-Fi as a service is rising rapidly owing to the growing penetration of digital ecosystems, particularly in crucial sectors such as BFSI, healthcare, telecom and IT, and transportation, among others. Digital ecosystems carry out the entire process of collecting and provisioning information with the help of internet and hence, Wi-Fi as a service is considered a crucial component in the process.
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Rising usage of electronic devices such as smartphones and laptops is fuelling the demand for seamless data connections resulting in the growth of the Wi-Fi as a service market. With increasing disposable incomes, more consumers are purchasing advanced electronic devices with superior capabilities that are supported by internet connectivity. Accordingly, there is an increasing demand for Wi-Fi as a service, particularly in outdoor and high-density areas such as education centres and malls where traditional internet may not be available.
Growing prevalence of bring your own device (BYOD) by various companies and organisations, resulting in an increasing demand for improved and secured network security, is also supporting the Wi-Fi as a service market growth. Through Wi-Fi as a service, employees and visitors can connect to the company’s network and gain access to the private networks and centralised documents on their own devices.
Industry Definition and Major Segments
Wi-Fi as a service is a cloud-based management system that provides its customers with real time data on a subscription basis. This multi-user network facility enables smart devices such as smartphones, laptops, and tablets to connect to the internet as well as each other wirelessly and also facilitates sharing of internet via hotspots.
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Based on component, the market is classified into:
- Professional Services
- Managed Services
On the basis of location type, the market is bifurcated into:
- Indoor
- Outdoor
By enterprise size, the market is segmented into:
- Large Enterprises
- Small and Medium Enterprises
On the basis of industry vertical, the market is categorised into:
- Telecom and IT
- BFSI
- Education
- Healthcare
- Hospitality
- Transportation
- Retail
- Others
Based on region, the market is divided into:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Market Trends
The key trends in the Wi-Fi as a service market include growing investments by various governments worldwide towards the development of smart cities. Various developed countries are focussing on introducing wireless technologies such as Wi-Fi, Bluetooth, and 5G or LTE solutions to cater to the connectivity needs of smart city initiatives. Additionally, several governments are investing in providing free Wi-Fi service at specific locations for the ease and comfort of people visiting the location. Evolution of Wi-Fi technology such as development of high-speed optical communications, and mmWave pulse transmission technologies is also contributing to the growth of the market for Wi-Fi as a service globally.
Asia Pacific accounts for a large share of the Wi-Fi as a service market owing to the rising penetration of electronic devices such as smartphones in the region, leading to a growing demand for internet services. In countries such as China and India, large populations, rising disposable incomes, and increasing penetration of smartphones are resulting in a vast customer base for Wi-Fi as a service. Moreover, various multinational companies are expanding their business in the Asia Pacific region, which is also increasing the demand for Wi-Fi as a service.
Key Market Players
The major players in the global Wi-Fi as a service market report are Arista Networks Inc., Cisco Systems Inc., Extreme Networks Inc., Telstra Corporation Limited, and Viasat Inc., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
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