Wi-Fi AS A Service Market Growth & Trends
The global wi-fi as a service market size is anticipated to reach USD 24.36 billion by 2030, registering a CAGR of 21.4% over the forecast period, according to a new report by Grand View Research, Inc. Technological innovations and users’ inclination toward cloud-managed Wi-Fi services are driving the growth. The rising deployment of public Wi-Fi in several verticals such as BFSI, healthcare, retail, manufacturing, and transportation & logistics is positively contributing to the growth of the industry. End-user organizations are adopting Wi-Fi as a Service (WaaS) as it has a short life cycle and offers a cost-efficient solution, which allows the scope of configuration for future updates.
Wi-Fi as a service is a subscription-centered, cloud-based management system that provides end-to-end Wi-Fi solutions, automatic system upgrades, access points, and a cloud-native management/control plane. WaaS comprises infrastructure, software, and professional as well as managed services. With WaaS, users can benefit from real-time network monitoring and a combination of historical and real-time data on Wi-Fi network usage.
Wi-Fi as a service is ideal for smaller businesses, office relocations, and temporary locations, as it can be controlled through a network operating center delivering a fast and reliable data network. WaaS allows businesses and organizations with IT resource to provide reliable, secure, and fast wireless local area network (WLAN) access across several locations.
The rising deployment of Wi-Fi as a service is attributed to low-cost services, greater scalability, resolute technological advancements, and increasing use cases in several sectors. Additionally, growing demand for widespread and high-speed network coverage and increasing adoption of air-gapped services are some of the factors fueling the growth of the market.
WaaS provides service users with security measures about bring your own device (BYOD) technology. BYOD technology grants limited network access to a non-network device, enabling the vendor to help the user compartmentalize network access parameters, assist the user in revoking devices, and remotely wipe data from selected devices. The growing adoption of BYOD policy in many organizations is expected to contribute positively to the growth of the market.
The players operating in the WaaS industry are adopting numerous key strategies such as product launches, partnerships and collaborations, and mergers and acquisitions to obtain a significant share in the market. For instance, Cisco Inc. announced the introduction of new technologies such as catalyst 9000X series switches, private 5G as a managed service, and high-end Wi-Fi 6E access points. These new solutions aim to help organizations and businesses digitize operations and scale networks to redefine campus experience to support hybrid work.
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Wi-Fi AS A Service Market Report Highlights
The market is expected to witness a CAGR of 21.4% over the forecast period owing to the rising adoption of Wi-Fi as a service and cloud-based Wi-Fi infrastructure. Moreover, trends such as growing adoption of cloud platforms, ongoing technological advancements such as air-gapped services along with increasing adoption of BYOD technology in a number of organizations are propelling the growth of the market
Based on component, the infrastructure segment accounted for the largest revenue share of over 44% in 2021. As wireless infrastructure enables the management and delivery of wireless communications through the integration of technology, security measures, and devices. WaaS infrastructure is extensively used in several verticals such as retail & e-commerce, BFSI, transportation & logistics, and manufacturing which is driving the growth of this segment
Based on location type, the indoor segment dominated the market in 2021 and is expected to witness a significant CAGR of 22.4% over the forecast period owing to the benefits of WaaS for closed environments such as low latency, higher speed, increased network capacity, and device density
Based on organization size, the large enterprise segment dominated the market in 2021 and is expected to witness a significant CAGR of 20.0% over the forecast period. The growth is attributed to the rapid adoption of WaaS at a substantial rate in large enterprises is propelling the growth. Large enterprises are making considerable investments in WaaS to address issues such as data security, privacy, and cloud connectivity failure
Based on vertical, the BFSI industry vertical dominated the market for Wi-Fi as a service owing to increasing payment transactions and the growing adoption of WaaS in the BFSI industry
Asia Pacific dominated the market in 2021 and accounted for the largest revenue share of more than 37%, owing to the extensive adoption of smartphones and growing internet subscribers. Additionally, adopting WaaS by emerging organizations and businesses to analyze and track sales, valuable data, in-store customer behavior, and customer preferences drives the regional growth
List of Key Players in the Wi-Fi AS A Service Market
Cisco Systems
Huawei Technologies Co. Ltd
Commscope
Aruba
Singtel
Rogers Communication
Juniper Networks Inc
Dell Technologies
TP-Link
Extreme Networks
Fortinet
Arista Networks
D-Link Corporation
Cambium Networks
Superloop
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