Wi-Fi Analytics Market: Current Analysis and Forecast (2020-2026)
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 call center complaints due to low internet speed.
Slow Wi-Fi speed is the prime reason triggering service calls, followed closely
by unstable Wi-Fi.
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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.
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Detailed examination of drivers,
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The study comprehensively covers the
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Deep dive regional level analysis of
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Customization Options:
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Analytics Market can further be
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Labels: Cloud, Customer Behavior Analytics, Customer Engagement, Customer Experience Management, Customer Loyalty Management, Footfall Analytics, Wi-Fi Analytics Market
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