Global WiFi as a Service Market Overview
The key driver impacting the WiFi as a service market is the growth of smart cities and increased demand for centralized management, high-speed, widespread network coverage, and low capital expenditure. For instance, The Indian government launched a National Smart Cities Mission with the mission to develop smart cities across the country, making them citizen-friendly and sustainable in 2015 with a funding of US$97 billion. The mission at first included 100 cities and the deadline of projects set between 2019 and 2023. Also, the convenience of Wi-Fi infrastructure management and its quick remote troubleshooting are expected to create high demand for WiFi as a service. Moreover, strong emphasis on employee empowerment and the ensuing need to deliver digital mobility tools, globalization of businesses, the convenience of Wi-Fi infrastructure management, and its quick remote troubleshooting contributes to WiFi as a service market demand later.
According to Value Market Research, the global WiFi as a service market size was valued at about USD 3.5 billion in 2020 and is expected to grow at a CAGR of around 20% during the forecast period 2021 to 2027.
The massive adoption of WaaS by rapidly growing medium-sized organizations due to its benefits will likely augment the need for WiFi as a service in the forecast period. The benefits include end-to-end visibility, fast deployment, cost-effectiveness, labor management, improved agility, and efficiency. However, data security and cloud connectivity failure issues may hinder the market in the long run. In addition, the lack of expertise and skills is negatively impacting the market growth. Even so, the industry trends such as the high adoption of BYOD and IoT and the increased arrival of mobile devices at workplaces might provide tremendous market opportunities to the market's key players.
The WiFi as a service market is widespread, with many local and international players. The market leaders follow diverse strategies to strengthen their market, such as extending product portfolio, acquisitions, contracts, amalgamation, product upgrades to raise their market share globally. The key players taken in the report are Huawei Technologies Co., Cisco Systems, Viasat, Inc., Singtel, Fujitsu, Extreme Networks, Commscope, Pareteum Corporation, Arista Networks, Inc., and Telstra Corporation.
In this research report, the WiFi as a service market is segmented by service, location type, organization size, and end-user, and region.
Analysis by Service:
By service, the report is segmented into professional services and managed services. The collaborative filtering segment dominates the service segment with the highest share in 2020. It is because enterprises are majorly preferred managed services to conquer the challenges of budget constraints and technical expertise. Moreover, managed service providers have industry certifications, high skilled human resources, and infrastructure, contributing to the managed services segment's growth in the forecast period.
Analysis by Location Type :
By location type, the report is segregated into Indoor and Outdoor. The outdoor deployment type segment dominates the location type segment with the highest share in 2020. The outdoor APs are highly scalable and made up of industry-grade technologies to deliver optimum network connectivity to users. Moreover, outdoor deployment shows high resistance to unwanted weather conditions, such as lighting, intense heat, rainfall, and can perform efficiently even in bad conditions, contribute to the outdoor deployment type segment's growth in the coming years.
Analysis by Organization Size :
By organization size, the report is divided into large enterprises and small & medium enterprises (smes). The small & medium enterprises segment is projected to grow with a high CAGR in the forecast period. It is due to the reduced operational costs, and maximum productivity is the major requirement of small and medium enterprises as they have limited budgets. Moreover, the rising number of several challenges in terms of capital, skills, scalability, and management control face by Small and medium enterprises contributes to high market demand from small & medium enterprises in the coming years.
Analysis by End-user:
By End-user, the report is categorized into telecom & IT, BFSI, education, healthcare, hospitality, transportation, retail, and others. The telecom & IT segment dominates the end-user segment with the highest market share in 2020. It is because telecom & IT companies are the primary users of Wi-Fi as a service and boost in penetration of internet-connected devices in IT organizations. Moreover, growing BYOD trend, the constant demand for faultless internet network and central platform to manage the third parties networks contributes to the IT and telecom segment growth.
Analysis by Region:
In the regional outlook of the global WiFi as a service market, the North America region dominates with the largest market share in 2020. It is due to the high ICT spending and early adoption of advanced technologies for connectivity in this region and the presence of major key players operating in the area such as Extreme Networks, Cisco, and Aruba. Moreover, significant adoption of IoT & developing smart city projects contribute to the tremendous market demand across North America.
Market Segmentation covered in the Report:
By Service
- Professional Services
- Network planning & implementation
- Support & maintenance
- Training
- Managed Services
By Location Type
By Organization Size
- Large Enterprises
- Small & Medium Enterprises (SMEs)
By End User
- Telecom & IT
- BFSI
- Education
- Healthcare
- Hospitality
- Transportation
- Retail
- Others
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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