Wi-Fi as a Service Market Soars: 20.14% CAGR
Evolve Business Intelligence has published a research report on the Global Wi-Fi as a Service Market, 2023–2033. The global Wi-Fi as a Service Market is projected to exhibit a CAGR of around 20.14% during the forecast period of 2023 to 2033.
Evolve Business Intelligence has recognized the following companies as the key players in the global Wi-Fi as a Service Market: Cisco Systems, Huawei Technologies Co., Singtel, Viasat Inc., Fujitsu, Commscope, Extreme Networks, Arista Networks Inc., Pareteum Corporation and Telstra Corporation.
More Information: https://evolvebi.com/report/wi-fi-as-a-service-market-analysis/
Market Highlights
The Global Wi-Fi as a Service Market is projected to be valued at USD 12.85 Billion by 2033, recording a CAGR of around 20.14% during the forecast period. Wi-Fi as a Service (WaaS) is a business model where a third-party provider manages and delivers Wi-Fi connectivity to businesses and organizations. Instead of purchasing and maintaining their own Wi-Fi infrastructure, these entities subscribe to a WaaS service, allowing them to focus on their core operations.
WaaS is popular among businesses, educational institutions, healthcare facilities, and other organizations looking for scalable and cost-effective Wi-Fi solutions without the complexities of managing the infrastructure themselves. It often includes features like security updates, scalability, and integration with other IT services.
The COVID-19 pandemic had a significant impact on the Wi-Fi as a Service (WaaS) market. With the shift to remote work and online education during lockdowns, there was a surge in demand for reliable and scalable Wi-Fi solutions. This drove interest in WaaS, as organizations sought to quickly and efficiently enhance their network capabilities to support remote activities. The pandemic accelerated the adoption of cloud-based services, including WaaS. Businesses and educational institutions favored cloud-managed Wi-Fi solutions for their flexibility and ease of deployment, which allowed them to adapt to rapidly changing conditions. With more employees and students accessing networks from various locations, there was an increased emphasis on network security. WaaS providers responded by enhancing their security features and offering more robust protection against cyber threats. The pandemic accelerated the broader digital transformation trend, including the adoption of WaaS. Organizations were motivated to modernize their IT infrastructure, which included upgrading or implementing managed Wi-Fi solutions.
Segmental Analysis
The global Wi-Fi as a Service Market has been segmented based on Service, Location Type, Application and End User.
Based on Service, the Wi-Fi as a Service Market is segmented into Professional Services and Managed Services. The Professional Services segment is anticipated to dominate the market.
Based on Location Type, the global Wi-Fi as a Service Market has been divided into Indoor and Outdoor. The Outdoor segment is anticipated to dominate the market.
Based on Application, the global Wi-Fi as a Service Market has been divided into Large Enterprises and Small & Medium Enterprises (SMEs). The Large Enterprises segment is anticipated to dominate the market.
Based on End User, the global Wi-Fi as a Service Market has been divided into Telecom & IT, BFSI, Education, Healthcare, Hospitality, Transportation, Retail, Others. The Healthcare segment is anticipated to dominate the market.
More Information: https://evolvebi.com/report/wi-fi-as-a-service-market-analysis/
Regional Analysis
The Wi-Fi as a Service Market is divided into five regions: North America, Europe, Asia-Pacific, South America, and the Middle East, & Africa. North America is one of the largest and most mature WaaS markets. The region boasts a well-developed telecommunications infrastructure, supporting the deployment of Wi-Fi networks. Businesses and organizations in North America have been early adopters of WaaS services. High adoption of advanced technologies, significant presence of key WaaS providers, and a mature IT infrastructure. The European WaaS market is experiencing steady growth, driven by increasing demand for reliable and high-speed Wi-Fi. The European WaaS market is highly competitive, with multiple players vying for market share. Increasing investments in digital transformation, smart cities, and improved network infrastructure in both Western and Eastern Europe. The Asia-Pacific region is witnessing the fastest growth in the WaaS market, fueled by rapid urbanization and economic development. Countries like India, China, and Southeast Asia are experiencing significant growth in Wi-Fi demand. The Latin American WaaS market is expanding, driven by the growing need for connectivity in businesses and public spaces. Governments in Latin America are investing in infrastructure development and digital initiatives to support the growth of the WaaS market. The Middle East and Africa region is a developing market for WaaS services, with significant growth potential. The growing tourism and hospitality industries in the Middle East and Africa are creating opportunities for WaaS providers.
