Wi-Fi as a Service Market Overview, Growth, Trends, Analysis, Research Report (2021-2031)

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

Wi-Fi as a Service Market

• Market Size 2023
  US$ 5.23 billion
• Market Size 2031
  US$ 21.74 billion

Market Dynamics

GROWTH DRIVERS

• Increase in Adoption of Smartphones

FUTURE TRENDS

• Rising demand for managed IT services

OPPORTUNITIES

• Development of Wi-Fi 6E

Regional Overview

• North America
• Europe
• Asia-Pacific
• South and Central America
• Middle East and Africa

Market Segmentation

Service

• Design & Configuration
• Network Implementation
• Wi-Fi Analytics
• Managed Services

User Location

• Indoor and Outdoor

Organization Size

• Small & Medium Enterprises and Large Enterprises

Industry

• Healthcare
• BFSI
• Transportation and Logistics
• IT
• Manufacturing

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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 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