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Global Wi-Fi as a Service Market to Grow at a CAGR of 17.5% in the Forecast Period of 2022-2027, Aided by Deployment of Wi-Fi as a Service in Small and Medium Enterprises

According to a new report by EMR titled, ‘Global Wi-Fi as a Service Market Report and Forecast 2022-2027’, the global Wi-Fi as a service industry attained a value of about USD 11.05 billion in 2021. The market is further expected to grow at a CAGR of 17.5% during the forecast period of 2022-2027 to reach nearly USD 29.07 billion by 2027.

The growth in the demand for Wi-Fi as a Service can be attributed to the rising adoption by small and medium enterprises. This can be associated with the emergence of startups and the establishment of small offices in developing and developed countries. With the rising dependency on internet services and the increase in the number of connected devices, the demand for wireless internet connections is further aiding the market growth of Wi-Fi as a Service. Favourable characteristics including centralised management, remote troubleshooting, reduced cost of ownership, and low capital expenditure are further positively influencing the market growth of Wi-Fi as a Services in small and medium enterprises. Factors such as improved internet agility, enhanced efficiency, cost-effectiveness, and fast deployment are further stimulating the deployment of Wi-Fi as a Service in small and medium organisations, thereby invigorating the growth of the industry.

Johnson Controls (NYSE: JCI), a leading player in the global market for Wi-Fi as a Service, recently announced the release of a mesh Wi-Fi networking system in July 2021. To address the needs of the professional security industry, the IQ Wi-Fi is designed specifically to seamlessly connect and manage streaming cameras, video doorbells, garage openers, and consumer Wi-Fi devices using the IQ panel. The mesh network supports up to 8 IQ Wi-Fi agents. The dual-band SSID allows the partitioning of security devices from consumer Wi-Fi devices for improved security and maintenance. Such developments by leading market players are augmenting the growth of the market.

Market Analysis by Component, Location Type, Enterprise Size, Industry Vertical, and Region:

  • On the basis of components, the market can be divided into professional services and managed services.
  • Based on location type, the market can be segmented into indoor and outdoor.
  • The market, based on enterprise size, can be categorised into large enterprises and small and medium enterprises.
  • On the basis of industry vertical, the market can be divided into telecom and IT, BFSI, education, healthcare, hospitality, transportation, and retail, among others.
  • The major regional markets for the product include North America, Latin America, Europe, the Asia Pacific and the Middle East and Africa.

Key Findings of the Report:

  • The market is being driven by the rising adoption of the digital ecosystem in various organisations and the subsequent demand for seamless wireless connectivity.
  • The cloud-based centralised management system helps network operators remotely troubleshoot problems are enhancing the growth of the market.
  • The deployment of wireless connections in public spaces and high-density areas like parks, malls, education centres, and parking lots, among others, are propelling the growth of the market.
  • The emergence of smart cities in several developed countries is likely to have a favourable influence on market growth.

Key Offerings of the Report:

  • The EMR report gives an overview of the global Wi-Fi as a Service industry for the periods (2017-2021) and (2022-2027).
  • The report also offers historical (2017-2021) and forecast (2022-2027) markets for components, location types, enterprise sizes, industry verticals, and major regions.
  • The report analyses market dynamics, covering the key demand and price indicators in the market along with an assessment of the SWOT and Porter’s Five Forces Model.

The major players in the global Wi-Fi as a Service market are Arista Networks Inc., Extreme Networks Inc., Telstra Corporation Limited, Cisco Systems Inc., and Viasat Inc., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

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*We at Expert Market Research always strive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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