Wi-Fi as a Service Market Strategies and Share 2031
The wi-fi as a service market size is projected to reach US$ 21.74 billion by 2031 from US$ 5.23 billion in 2023. The market is expected to register a CAGR of 19.50% in 2023–2031. The rising demand for managed IT services is likely to remain a key wi-fi as a service market trend.
Wi-Fi as a Service Market Analysis
The growing competitiveness, along with losses sustained during the COVID-19 epidemic, is driving enterprises to cut operating costs and focus more on core business activities. Such requirements have had a favorable impact on wi-fi as a service market growth. Enterprises can minimize operational costs by using wi-fi as a service, which eliminates the need to invest in the acquisition and upgrade of IT infrastructure. The solution also enables businesses to offer secure and fast wireless local area networks (WLAN) in several locations. Such variables are together propelling the Wi-Fi as a Service market forward.
Wi-Fi as a Service Market Overview
WiFi as a Service (WaaS) is a revolutionary solution that enables businesses to provide wireless network connectivity to their employees, customers, and guests seamlessly and efficiently. It is a cloud-based service that eliminates the need for organizations to invest in and manage their WiFi infrastructure. Instead, businesses can rely on a third-party provider to deliver and maintain a high-quality wireless network
Furthermore, with WaaS, businesses can enjoy the benefits of a reliable and secure WiFi network without the hassle of deploying and managing complex hardware and software. The service provider takes care of all the necessary equipment, including access points, switches, and routers, as well as the backend infrastructure, such as servers and data centers. This allows businesses to focus on their core operations without worrying about the technical aspects of WiFi network management.
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Wi-Fi as a Service Market: Strategic Insights
Market Size Value in US$ 3.66 Billion in 2021 Market Size Value by US$ 13.34 Billion by 2028 Growth rate CAGR of 19.5% from 2022 to 2028 Forecast Period 2022-2028 Base Year 2021
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Wi-Fi as a Service Market: Strategic Insights
| Market Size Value in | US$ 3.66 Billion in 2021 |
| Market Size Value by | US$ 13.34 Billion by 2028 |
| Growth rate | CAGR of 19.5% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2021 |
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Wi-Fi as a Service Market Drivers and Opportunities
Increase in Adoption of Smartphones to Favor Market
According to the GSMA's annual State of Mobile Internet Connectivity Report 2023 (SOMIC), more than half (54%) of the world's population, or around 4.3 billion people, already own a smartphone.
Smartphone owners are far more likely to be aware of and utilize mobile internet services on a regular basis and for a larger range of tasks. For example, among the 4.6 billion individuals who use mobile internet now, about 4 billion use smartphones, accounting for just under half (49%) of the global population. Meanwhile, 600 million individuals, or 8% of the world's population, use feature phones to access the internet. Thus, the growing prevalence of adoption of smartphones among consumers worldwide boosts the market growth.
Development of Wi-Fi 6E – An Opportunity in the Wi-Fi as a Service Market
Wi-Fi 6E provides access to the new 6 GHz band, resulting in 1200 MHz of clean spectrum in the United States and much of the rest of the world, as well as nearly 500 MHz of free spectrum in the European Union. This is the single greatest allocation of unlicensed spectrum in history, substantially tripling the amount accessible for Wi-Fi. The "E" in Wi-Fi 6E stands for "Extended," as it expands Wi-Fi 6's capabilities to the 6 GHz band, resulting in more capacity, larger channels, and reduced interference. Thus, such advancements in the WiFi 6E technology are expected to create new opportunities for market growth.
Wi-Fi as a Service Market Report Segmentation Analysis
Key segments that contributed to the derivation of the wi-fi as a service market analysis are service, user location, organization size, and industry.
- Based on service, the market is divided into design & configuration, network implementation, wi-fi analytics, and managed services. The design & configuration segment held a significant market share in 2023.
- Based on user location, the market is bifurcated into indoor and outdoor. The indoor segment held a significant market share in 2023.
- Based on organization size, the market is bifurcated into small & medium enterprises and large enterprises. The large enterprises segment held a significant market share in 2023.
- Based on industry, the market is bifurcated into healthcare, BFSI, transportation and logistics, manufacturing, and others. The BFSI segment held a significant market share in 2023.
Wi-Fi as a Service Market Share Analysis by Geography
The geographic scope of the wi-fi as a service market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America.
North America is expected to witness significant growth in the Wi-Fi as a Service market in the forecasted period. The dominance of this region in the market is majorly attributed to the presence of several major enterprises from all industry verticals and the operations of a large number of wi-fi as a service market player in the region. A few of the key market players functioning in North America include Cisco Systems, Inc.; CommScope, Inc.; and Juniper Networks, Inc among others. These wi-fi as a service industry players witness continuous demand from various enterprises from all verticals. The following figures showcase the revenue growth trend in the global wi-fi as a service market.
Wi-Fi as a Service Market Report Scope
Wi-Fi as a Service Market News and Recent Developments
The wi-fi as a service market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for innovations, business expansion, and strategies:
- In January 2024, Fortinet, the global cybersecurity leader driving the convergence of networking and security, announced the industry’s only comprehensive secure networking solution integrated with Wi-Fi 7. Fortinet’s first Wi-Fi 7 access point, FortiAP 441K, delivers increased speed and capacity, and the new FortiSwitch T1024 is purpose-built with 10 Gigabit Ethernet (GE) access and 90W Power over Ethernet (PoE) technology to support Wi-Fi 7 bandwidth requirements. These new devices deliver the cutting-edge wireless performance today’s enterprises need and, as a part of the Fortinet Secure Networking solution, seamlessly integrate with AIOps and FortiGuard AI-Powered Security Services for unmatched security, visibility, and control. (Source: Fortinet, Press Release)
- In May 2024, HCLTech, a leading global technology company, and Cisco announced the launch of Pervasive Wireless Mobility-as-a-Service for secure and seamless enterprise-wide connectivity. The service combines HCLTech’s managed network services expertise with Cisco’s Ultra-Reliable Wireless Backhaul (URWB) technology to create a resilient network infrastructure that provides robust connectivity. This offers visibility and mobility for operations and experiences in industrial and mission-critical environments, such as vehicle connectivity in factory areas, mobile worker connectivity in mining areas, remote patient care, real-time data access at retail stores, and fleet connectivity at terminals. (Source: Cisco, Press Release)
Wi-Fi as a Service Market Report Coverage and Deliverables
The “Wi-Fi as a Service Market Size and Forecast (2023–2031)” report provides a detailed analysis of the market covering the following areas:
- Wi-Fi as a ServiceMarket size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Market dynamics such as drivers, restraints, and key opportunities
- Wi-Fi as a Service Market trends
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Wi-Fi as a Service market analysiscovering key market trends, Global and regional framework, major players, regulations, and recent market developments
- Wi-Fi as a ServiceIndustry, landscape, and competition analysis, covering market concentration, heat map analysis, prominent players, and recent developments
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Service, User Location, Organization Size, Industry, and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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