Wi-Fi as a Service Market

The expediency of Wi-Fi infrastructure management and its remote troubleshooting drive the growth of the global Wi-Fi as a Service market.

PORTLAND, PORTLAND, OR, UNITED STATES, November 13, 2023 /EINPresswire.com/ -- According to the report, the global Wi-Fi as a Service industry was estimated at $3.36 billion in 2019, and is expected to hit $12.21 billion by 2027, registering a CAGR of 17.6% from 2020 to 2027.

Wi-Fi as a service (WaaS) is majorly used to manage the Wi-Fi operations and it generally comprises WLAN configuration, network implementation, hardware & software management, and network monitoring & maintenance. WaaS has varied application for all types of organizations, from those that do not have existing Wi-Fi network to those having an existing network but need managed solution for a guest Internet only Wi-Fi network.

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Factors such as rise in requisite for low capital expenditure, increase in penetration of IoT devices, rise in deployment of public Wi-Fi, surge in demand for WaaS from SMEs, and emerging smart city projects development across the world are the major factors contributing toward the global Wi-Fi as a service market growth.

The outdoor location type segment is anticipated to hold majority of the Wi-Fi as a service market share in 2027, due to increase in deployment of Wi-Fi hotspots by government across public places, rise in need for fast connectivity among smartphone users, increase in initiatives by government to cover many places with Wi-Fi connectivity, across the world.

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In terms of enterprise size, SMEs segment is projected to witness highest CAGR during the forecast period, as most of the small enterprises do not have capital to invest into the enterprise Wi-Fi hardware or the skilled staff required to manage such hardware. Thus, Wi-Fi as a service gives small & medium sized enterprises the support & maintenance required to aim more on their business growth and less time spent on resolving the Wi-Fi problems. Thus, these factors are expected to further propel the growth of SMEs segment of global Wi-Fi as a service market in upcoming years.

The telecom & IT industry accounted for the highest share among industry vertical segment of WaaS market in 2019. This is attributed to increase in need to streamline the day-to-day operations in the telecom & IT companies. Furthermore, the requirement for in-depth monitoring of network and reporting, get insight regarding network utilization, uplink performance, increase security over internal network of the organization, and operating at peak productivity with a managed Wi-Fi solution is augmenting the need for WaaS.

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The global Wi-Fi as a service market size was dominated by North America in 2019, and is expected to maintain this trend during the forecast period. This is attributed to the presence of leading companies designing Wi-Fi as a service in North America; extensive use of cellphones & smart devices; and surge in adoption of Wi-Fi hotspots by retail, hospitality, and education sectors in this region.

The global Wi-Fi as a service market analysis includes some of the key market players such as Cisco Systems, Huawei Technologies Co., Singtel, Viasat, Inc., Fujitsu, Commscope, Extreme Networks, Arista Networks, Inc., Pareteum, and Telstra Corporation. This study includes Wi-Fi as a service market trends, WaaS market analysis, and future estimations to determine the imminent investment pockets.

Asia-Pacific segment is anticipated to exhibit highest CAGR of 20.5% during forecast period in Wi-Fi as a service industry, owing to rise in expenditure on connectivity, increase in penetration of smartphones, and government initiatives to provide Wi-Fi connectivity at public places in countries such as India and Japan.

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