Global Outdoor Wi-Fi Market - by Products and Services, by Implementation models, by End User Industry, and Geography - Growth, Trends, and Forecasts (2018 - 2023)
The global outdoor Wi-Fi market was valued at USD 28.51 billion in 2017, and it is projected to reach a value of USD 63.25 billion by the end of 2023, at a CAGR of 14.20% over the forecast period, 2018-2023. Several wireless applications have been envisaged with wireless internet technology, which can be used for the provision of mobile and wireless applications and services. Further, the popularity of these services is growing rapidly, along with technologies such as Internet of Things and social networking, therefore, boosting the market. The public and private Wi-Fi ecosystems have clearly expanded over the last few years. The major players, such as Cisco, Alcatel-Lucent and others are investing in Next Generation Hotspot initiatives and their services. Moreover, the increasing investments in smart city projects, globally, are expected to boost the market during the forecast period.
Increased in Demand for Internet of Things and Penetration of Internet-Enabled Smart Gadgets
The deployment of smart infrastructure systems, based on IoT techniques, helps companies establish and maintain work efficiency and continuous workflow, which is further boosting the market growth. Global manufacturers are expected to invest about USD 70 billion in 2017, as such developments further necessitate the need for outdoor Wi-Fi systems. Fashion and luxury smart watches are expected grow, which are expected to constitute about 25% of smart wearables are among the most commonly used platform through which outdoor Wi-Fi networks are set to be accessed by consumers. Upcoming smart wearables, such as the smart jackets by Google and Levi, are expected to follow suit. Adidas and Under Armor have also collaborated for the launch of smart shoes, many other revolutionary products are being deployed, which depend on outdoor Wi-Fi services for functionality, which fuels the growth of outdoor Wi-Fi systems.
Education Sector is Expected to Revolutionize Teaching Methods to Drive Growth for this Market
The trend of internet penetration in the education institutions has proliferated, globally. However, in developing countries many schools and colleges are still using wired technology, as opposed to the emerging Wi-Fi infrastructure. 41% of the total college going students are estimated to own 3 or more connected devices, which further emphasizes the need for outdoor Wi-Fi in educational institutions. It has also been identified that about 33% of the schools provide 500 mbps of internet and have estimated an increase in the bandwidth, owing to the growth of mobile devices. Integrating technology and devices to provide a better learning experience is a trend, which is expected to transform the learning culture across the developing economies. Leveraging the ease of access to internet to facilitate e-learning in the remote and rural areas is further encouraging government initiatives to install outdoor Wi-Fi systems to enhance the existing and conventional architecture in schools and other educational institutions.
North America is Expected to Have One of the Highest Market Share for AI Medicine.
The outdoor Wi-Fi in this region, under the transportation sector, is gaining recognition with a number of service hubs looking to monetize their Wi-Fi networks by using vehicle as an outdoor Wi-Fi relay point to deliver location-based services. North America has a large number of educational institutions looking to make their data available more easily and accessible, through a single Wi-Fi network. About 48 states and the District of Columbia have been supporting online learning opportunities owing to, which the outdoor Wi-Fi market is expected to increase.
Key Developments in the Market