Market Analysis
Market Research Future (MRFR) projects the global Wi-Fi as a service market to reach USD 5 billion at a CAGR of 38% from 2018 to 2023 (forecast period).
Wi-Fi, in general, is a cloud-based management system. The Wi-Fi as a service industry is growing in popularity due to Wi-Fi technology, which uses radio waves to provide network connectivity all over the world. A Wi-Fi connection is recognized by a wireless connecter, which creates hotspots in the vicinity of a wireless router. As a result, these are linked to the network, and it allows operators to use internet facilities. Wi-Fi as a service industry is based on the amount of data on the network and provides wireless connectivity to devices using frequencies ranging from 5GHz to 2.4GHz. Wi-Fi enables businesses with limited IT resources to provide their employees and customers with stable, fast, and secure wireless LAN access from many locations.
The primary factors are driving the Wi-Fi as a service market cover expanding requirement for cheap capital expenditure and compact total cost of ownership, as well as a claim for centralized management and remote troubleshooting. Wi-Fi market also enables end-to-end prominence and faster placement. The global market is likely to gain a major grip throughout the forecast period with the rise in Wi-Fi's acceptance rate as a service between small and medium enterprises. Wi-Fi service is ideal for office relocations and temporary locations. Furthermore, Wi-Fi service delivered progressive analytic tools that can help evaluate customer's behavior. Furthermore, Wi-Fi as a service allows for uninvited visitor access and is armed with involuntary system advancements.
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COVID-19 Impact on the Global Wi-Fi as a Service Market
COVID 19 has had an impact on practically every industry, including Wi-Fi as a service market. The Wi-Fi service market also experienced a halt. For a variety of reasons, most consumers were hesitant to sign up for subscriptions or spend money on Wi-Fi network services.
The producers are planning to leverage the increased demands for the Wi-Fi market network service using the latest technology to enhance market revenue generation. The COVID 19 pandemic has hindered the market's economic growth, but key stakeholders have now taken the necessary steps to resurrect it for more profitable outcomes in the current environment.
Market Segmentation
The global Wi-Fi as a service market has been segmented into hardware, service, industry, and organization size.
By hardware, the global Wi-Fi as a service market has been segmented into wireless access points, gateway, and antenna.
By service, the global Wi-Fi as a service market has been segmented into cloud access point support and maintenance, network plan and design.
By industry, the global Wi-Fi as a service market has been segmented into IT & telecom, healthcare, retail, manufacturing, utilities, and transportation.
By organization size, the global Wi-Fi as a service market has been segmented into small & medium scale business and large scale business.
Regional Analysis
Region-wise, the global Wi-Fi as a service market has been segmented into North America, Europe, Asia Pacific, and other parts of the world.
North America is predicted to provide the most profit to the Wi-Fi industry due to the region's high demand. This region has a higher concentration of investors.
Key Players
Hewlett Packard Enterprise Company (U.S.), Fujitsu Limited (Japan), Big Air Group Limited (Australia), Zebra Technologies Corporation (U.S.), Ruckus Wireless (U.S.), Cisco Systems Inc. (U.S.), Telstra Corporation Limited (Australia), Rogers Communication Inc. (U.S.), Singapore Telecommunications Limited (Singapore), IPASS Inc. (U.S).
Recent Development
In February 2020, Huawei Technologies released Wi-Fi 6, a breakthrough enterprise wireless solution to increase capacity and reduce delay.\
Summary
The global Wi-Fi as a service market is projected to reach USD 5 billion at a CAGR of 38% from 2018 to 2023 (forecast period). The growing need for wireless connectivity, combined with the increasing installation of connected devices, is expected to drive market expansion.
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