Business
Wi-Fi as a Service (WaaS) Market: Growth Insights, Trends, and Forecast (2024-2031)
Global Market Overview
The global Wi-Fi as a Service (WaaS) market was valued at USD 5.9 billion in 2022 and is expected to grow to USD 34.04 billion by 2031, at a CAGR of 21.50%. The rise in WaaS adoption is driven by its affordability, scalability, and the increasing demand for widespread high-speed network coverage. Air-gapped services, public Wi-Fi networks in industries like BFSI, manufacturing, and retail, and technological advancements are further boosting market growth. Cloud-managed Wi-Fi services offer cost efficiency, flexibility, and the ability for future updates, enhancing WaaS adoption.
Download a detailed overview: https://www.skyquestt.com/sample-request/wi-fi-as-a-service-market
Market Segment Analysis
- Solution: Access points, WLAN controllers
- Service: Managed services, professional services (advisory, implementation, support, maintenance, training)
- Location: Indoor, outdoor
- Organization Size: Large enterprises, SMEs
- Verticals: BFSI, retail, travel & hospitality, healthcare, manufacturing, government, education, logistics
- Region: North America, Europe, Asia-Pacific, Middle East & Africa, Latin America
Regional Insights
- Asia-Pacific: Dominates due to smartphone adoption, digital infrastructure investments, and IoT integration.
- North America: Expected to maintain a high market share, driven by startup culture, SMEs, and R&D activities.
Service Analysis
- Managed Services: Dominates the market due to demand for outsourced Wi-Fi management and security.
- Professional Services: Expected to grow, driven by the need for specialized network design and optimization to integrate IoT and AI technologies.
Vertical Analysis
- BFSI: Leads the market with the highest revenue share due to online payments and secure Wi-Fi needs.
- Retail: Rapid growth expected with the demand for IoT, BYOD, and mobile workforces.
Request Free Customization of this report: https://www.skyquestt.com/speak-with-analyst/wi-fi-as-a-service-market
Market Drivers
- Increasing demand for high-speed network coverage
- Rising adoption of smartphones and wireless devices
- Cloud-managed Wi-Fi solutions offering scalability and cost savings
Market Restraints
- Data security and privacy concerns
- Shortage of skilled Wi-Fi management personnel
- Slower backups and restores due to cloud latency
Key Players
- Cisco (US)
- Huawei (China)
- CommScope (US)
- Extreme Networks (US)
- Singtel (Singapore)
- Rogers Communications (Canada)
- ADTRAN (US)
- Tata Communications (India)
- Fortinet (US)
- Arista (US)
Recent Developments
- Intel (Feb 2024): Integrated Wi-Fi 7 into its vPro platform.
- Cisco (May 2023): Acquired Open Systems AG to expand its WaaS offerings.
- HPE (March 2023): Launched GreenLake Wi-Fi as a Service platform.
- Nokia (Jan 2023): Partnered with AWS for cloud-native 5G solutions.
Key Market Trends
The shift towards cloud-managed Wi-Fi services is a significant trend, offering flexibility, centralized network control, and cost-effective scalability. This model is increasingly preferred by businesses for ease of management and adaptability.
-
World News5 days ago
World News Breakdown: Global Events and Key Stories Affecting the Planet
-
Artificial Intelligence6 days ago
Artificial Intelligence Ethics: Balancing Innovation with Responsibility
-
Business5 days ago
Best Growth Stocks to Buy for Long-Term Gains
-
Alternative Energy3 days ago
Blockchain Stocks: Investing in the Future of Technology
-
Alternative Energy6 days ago
Autonomous Driving Safety Features to Know About
-
Blockchain Technology3 days ago
Blockchain Enterprise Applications Changing Business
-
Finance6 days ago
Goldman Sachs Raises S&P 500 Forecast to 6,000
-
Alternative Energy6 days ago
Best Biotech Stocks for Innovation and Growth