WiFi as a Service Market by Service (Professional Services and Managed Services), Solution, Organization Size (Small and Medium Enterprises and Large Enterprises), Vertical (Education, Retail, Travel and Hospitality), Region - Global Forecast to 2023
Reduction in the cost of ownership of WiFi infrastructure for organizations is driving the overall growth of the WiFi as a service market.
The WiFi as a service market is projected to grow from 2.1 billion in 2018 to USD 6.1 billion by 2023, at a CAGR of 23.8% from 2018 to 2023. Reduction in the cost of ownership of WiFi infrastructure for organizations, development of smart cities, and increased demand for high-speed and widespread network coverage are factors fueling the growth of the market across the globe. However, cloud connectivity failure and data security issues are expected to hinder the growth of the WiFi as a service market during the forecast period.
Based on service, the managed services segment is expected to lead the WiFi as a service market from 2018 to 2023.
The managed services segment is estimated to account for a larger share of WiFi as a service market as compared to the professional services segment from 2018 to 2023. Enterprises opt for managed services to overcome the challenges of budget constraints and technical expertise as managed service providers have skilled human resources, infrastructure, and industry certifications. They offer services to monitor and manage hardware devices and manage the availability and performance of networks. They also ensure smooth operations and security of networks.
Based on organization size, the small and medium enterprises segment of the WiFi as a service market is projected to grow at a higher rate than the large enterprises segment during the forecast period.
The small and medium enterprises segment of the WiFi as a service market is projected to grow at a higher rate than the large enterprises segment from 2018 to 2023. Maximum productivity and reduced operational costs are the crucial factors for small and medium enterprises as they have limited budgets. Small and medium enterprises face several challenges in terms of capital, skills, scalability, and management control. Hence, these organizations require cost-effective solutions that can help them optimize their business processes. This leads to an increased demand for WiFi as a service from small and medium enterprises operating in the retail, education, travel and hospitality, and healthcare and life sciences verticals across the globe.
The Asia Pacific WiFi as a service market is projected to grow at the highest CAGR from 2018 to 2023.
The Asia Pacific WiFi as a service market is projected to grow at the highest CAGR during the forecast period. The growth of the market in this region can be attributed to the ongoing digitalization in various industries such as retail, education, and transportation and logistics and increased requirement for managed IT services in the region. Moreover, as broadband and mobile infrastructures are improving in the Asia Pacific region, the mobile workforce and BYOD trends are also gaining momentum. These trends in the Asia Pacific region are also leading to the increased adoption of WiFi technology, which is expected to fuel the growth of the Asia Pacific WiFi as a service market.
In-depth interviews were conducted with chief executive officers, marketing directors, other innovation and technology directors, and executives from various key organizations operating in the WiFi as a service marketplace.
By Company Type: Tier 1 - 62%, Tier 2 - 23%, and Tier 3 - 15%
By Designation: C-level - 38%, D-level - 30%, and Others - 32%
By Region: North America - 40%, Europe - 15%, Asia Pacific - 35%, the Middle East and Africa - 5%, and Latin America - 5%
Cisco Systems (US), Huawei Technologies Co. (China), ARRIS International (US), Aerohive Networks (US), Singtel (Singapore), Rogers Communications (Canada), Telstra Corporation (Australia), Viasat (US), ADTRAN (US), Aruba (US), Extreme Networks (US), Fujitsu (Japan), Superloop (Australia), iPass (US), Arista Networks (US), Ubiquiti Networks (US), Fortinet (US), Riverbed Technology (US), 4ipnet (Taiwan), Edgecore Networks (Taiwan), Mist Systems (US), ALE International (France), Allied Telesis (Japan), LANCOM Systems (Germany), and D-Link Corporation (Taiwan) are the leading players operating in the WiFi as a service market. The study includes an in-depth competitive analysis of these key market players along with their profiles, recent developments undertaken by them, and key market strategies adopted by them.
The market study estimates sizes of the WiFi as a service market and its segments and subsegments. It aims at estimating the market size and the growth potential of the market based on service, solution, organization size, vertical, and region. The study also includes an in-depth competitive analysis of the key market players, along with their company profiles, key observations related to their product and business offerings, recent developments undertaken by them, and key market strategies adopted by them.
Key Benefits of Buying the Report
The report is expected to help the market leaders/new entrants with information on the closest approximations of the revenue numbers for the overall WiFi as a service market and its segments. This report also aims at helping the stakeholders understand the competitive landscape and gain insights to improve the position of their businesses and plan suitable go-to-market strategies. The report is also expected to enable stakeholders to understand the pulse of the market and provide them with information on key drivers, restraints, challenges, and opportunities influencing the growth of the market.
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