Research report presented by UnivDatos, Emphasis on Component (Solutions, Services), Deployment (On-Premises, Cloud), Application (Footfall Analytics, Customer Engagement, Customer Experience Management, Customer Behavior Analytics, Customer Loyalty Management), End-Users (Smart Infrastructure, Retail, Sports & Leisure, Hospitality, Others) and Geographical analysis (key regions and countries).
As per the research report, the global Wi-Fi Analytics Market was valued at US$ 5.5 billion in 2019 and is projected to expand significantly with a CAGR of 28.53% from 2021 to 2026. The global Wi-Fi Analytics market is expected to witness a boost, owing to the increasing use of smartphones and smart devices. Wifi analytics mainly refers to the use of a collection of Wi-fi networks to gather the data on Wi-fi devices such as smartphones, laptops, and other electronic devices. The adoption of wi-fi analytics purposes to support organizations of every size in building extensive consumer profiles and to better understand the consumer behavior within their reach. The concept has emerged as one of the most widespread and versatile connectivity solutions.
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Factors such as increasing smartphone penetration and the rise in the adoption of the Internet of Things showcase lucrative opportunities for business expansion. Moreover, rising competition from online and offline retail business and deployment of public Wi-Fi across physical venues has led to significant growth of the market. Besides, the initiative by the government for smart city development across several regions has further accelerated the growth of the public Wi-Fi hotspots that contribute to the industry growth.
However, with the ongoing pandemic threat, although the average number of connected devices in the home is estimated to range from seven to ten, depending on the region, the trend is clearly towards an increase to twenty, thirty, or more, in the next few years, due to the proliferation of devices and IoT. With more users in the home simultaneously active online owing to remote working across the regions, the Wi-Fi network tends to suffer overload and decreased performance. For instance, the COVID-19 impact on home Wi-Fi usage has led to a decrease in the Quality of Experience (QoE). Some operators are experiencing a 40% increase in the number of calls center complaints due to low internet speed. Slow Wi-Fi speed is the prime reason triggering service calls, followed closely by unstable Wi-Fi.
Cisco Systems Inc., Zebra Technologies, Ruckus Wireless, Aruba Networks, Inc., Purple Wi-Fi Ltd, Cloud4wi, Fortinet Inc., SkyFii Limited, Euclid and Hughes Network Systems LLC are some of the prominent players operating in the global Wi-fi Analytics market. Several M&A’s along with partnerships have been undertaken by these players to facilitate costumers with hi-tech and innovative products.
Insights Presented in the Report
“Amongst component, Solutions segment hold the major share”
Based on component type, the market is fragmented into solutions and services. The solutions segment dominated the Wi-Fi analytics market with a revenue of US$ 4.1 billion in 2019 and is expected to grow at a CAGR of 27.13% over the forecast period. The growth in the Wi-Fi analytics solutions segment is driven by the growing significance of customer analytics in brick-and-mortar businesses.
“Amongst deployment, On-Premise is expected to dominate the market during the analyzed period”
Based on the market segment by deployment, the market is segmented into on-premise and cloud. In 2019, On-Premise occupied around 63.8% of market revenue share. While Cloud is expected to be the fastest-growing segment in the global market. Wi-Fi analytics enables an organization in using the information available through the wireless network, to make better decisions about its physical space.
“Amongst Application, customer loyalty management is expected to dominate the market during the analyzed period”
Based on the market segment by application, the market is fragmented Footfall Analytics, Customer Engagement, Customer Experience Management, Customer Behavior Analytics, Customer Loyalty Management and Other Applications. In 2019, customer loyalty management accounted for the maximum market share with 34.1% and is expected to be the leading segment of the Wi-fi analytics market during the forecast period.
“Amongst end users, the Retail sector is expected to dominate the market during the analyzed period”
Based on the market segment by end-users, the market is fragmented into smart infrastructure, retail, sports& leisure, and hospitality. In 2019, the retail sector accounted for the maximum market share with 46.36% and is anticipated to lead throughout the forecast period. Surging online retail business and the number of hotels and restaurants providing a Wi-Fi platform, which offers several tools to incentivize their guests has led to the expansion in their brand presence.
“North America represents one of the largest markets of the Wi-Fi Analytics market”
For a better understanding of the market dynamics of the Wi-Fi Analytics market, a detailed analysis was conducted for different regions across the globe including North America (the U.S, Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, Australia and Rest of APAC) and Rest of the World has been conducted. North America dominated the market and generated revenue of US$ 2.2 billion in 2019. The market growth prospects are attributed to the growing significance of big data analytics and spur in investments in the latest technologies by the major players in the region. However, the APAC region is expected to witness the highest CAGR growth of 32.25% during the forecast period 2021-2026.
The Wi-fi Analytics Market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.
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