Wi-Fi As A Service Market Projected to Rise USD 32.4 Billion by 2031 Due to Rising demand for IoT and Smart Devices

The SNS Insider report reveals that the Wi-Fi as a Service market size stood at USD 6.8 Billion in 2023 and expected to reach USD 32.4 Billion by 2031, reflecting a remarkable Compound Annual Growth Rate of 21.55% during the forecast period 2024-2031.

Growing Demand: Factors Fueling Market Expansion

In Wi-Fi as a Service market businesses are also looking for wider, faster internet coverage and secure, isolated networks (air-gapped services). WaaS offers all this, making it popular in various industries like banking, manufacturing, and retail. New technology and the desire for cloud-based management are further driving this growth. Businesses are ditching outdated Wi-Fi systems for WaaS because it’s cost-effective, has a short upgrade cycle, and allows for future adjustments. WaaS as an all-in-one Wi-Fi solution with a subscription fee. It includes hardware (access points), software, ongoing management, and automatic upgrades – all delivered through the cloud. This allows businesses of all sizes, even those with limited IT resources, to offer secure, reliable Wi-Fi across multiple locations. Plus, WaaS provides real-time network monitoring and historical data for better management.

Get a Sample of Wi-Fi as a Service Market Report @ https://www.snsinsider.com/sample-request/3575 

Major The Key Players of Wi-Fi as a Service Market

Dell Technologies, Commscope, Aruba, Rogers Communication, Juniper Networks Inc., Cisco Systems, Huawei Technologies Co. Ltd., TP-Link, Extreme Networks, Cambium Networks, Fortinet, Superloop, Arista Networks, D-Link Corporation, Singtel, Axians, 4ipnet, LANCOM Systems, Redway Networks, and others

Segmentation Analysis

• By Type

Managed services hold the dominant share due to the rising preference of organizations, especially SMEs, to outsource Wi-Fi management and maintenance. Managed service providers offer comprehensive solutions encompassing installation, configuration, monitoring, security, and troubleshooting, allowing businesses to focus on core operations. The professional services segment is expected to witness significant growth as businesses recognize the importance of network optimization and seamless connectivity. Specialized professional services are crucial for integrating emerging technologies like IoT and AI with existing Wi-Fi networks.

The retail sector currently leads the WaaS market adoption. Retailers leverage WaaS to provide secure and seamless Wi-Fi access to customers, enabling features like location-based marketing and personalized offers, ultimately enhancing the shopping experience. WaaS providers cater to the unique needs of healthcare environments by offering specialized solutions for secure and reliable network connectivity.

Do you have any specific queries or need customization research on Wi-Fi as a Service Market, Enquire Now@ https://www.snsinsider.com/enquiry/3575 

Key Market Segments

By Component

• Infrastructure
• Software
• Services

By Service

• Professional Services
• Managed Services

By Solution

• Access Points
• WLAN Controllers

By Organization Size

• Large Enterprises
• Small and Medium-Sized Enterprises

By Location Type

• Indoor
• Outdoor

By Vertical

• Education
• Retail
• Travel and Hospitality
• Healthcare and Life Sciences
• Manufacturing
• Banking, Financial Services, and Insurance
• Service Providers
• Transportation and Logistics
• Government and Public Sector
• Others

Impact of Global Events

The ongoing Russia-Ukraine war and potential economic slowdown pose potential challenges to the WaaS market growth trajectory. However, the long-term outlook remains positive due to the underlying demand for robust Wi-Fi networks across industries. Businesses may prioritize cost-effective solutions and delay non-critical network upgrades during an economic slowdown. However, the long-term benefits of WaaS, such as improved operational efficiency and enhanced customer experience, are likely to outweigh these temporary headwinds.

Key Regional Developments: North America Takes the Lead

North America is projected to hold the largest market share throughout the forecast period. Early adoption of WaaS technology, coupled with well-established economies and strong investments in R&D activities, contribute to North America’s dominance. The increasing adoption of WaaS by both large enterprises and SMEs further fuels regional market growth. Additionally, North America boasts a highly receptive market for innovative Wi-Fi solutions.

Recent Developments

• In February 2024:Keysight Technologies introduced the ‘E7515W UXM Wireless Connectivity Test Platform’ for Wi-Fi 7. This solution empowers testing for devices utilizing the latest Wi-Fi standard, ensuring compatibility and optimal performance.
• In January 2024:The Wi-Fi Alliance launched ‘Wi-Fi CERTIFIED 7,’ a powerful new feature enhancing Wi-Fi performance and connectivity across diverse environments. This certification signifies devices that meet stringent standards for high throughput, low latency, and reliable critical traffic handling.

Future Growth

The proliferation of Wi-Fi 6 and Wi-Fi 7 these next-generation Wi-Fi standards will offer faster speeds, lower latency, and greater network capacity, further fueling WaaS adoption. As businesses increasingly rely on cloud solutions, the demand for reliable and secure Wi-Fi networks will surge, propelling the WaaS market forward. The growing threat landscape will compel organizations to prioritize secure Wi-Fi networks, making WaaS, with its inherent security features, a compelling choice.

Buy Now Enterprise-User PDF of Wi-Fi as a Service Market report 2024-2031@ https://www.snsinsider.com/checkout/3575 

Key Takeaways

• Gain valuable knowledge about the key factors propelling the WaaS market, enabling informed decision-making.
• Explore the lucrative opportunities within the WaaS market across various industry segments and regions.
• Stay updated on the latest advancements and trends in Wi-Fi technology and their impact on the WaaS landscape.
• Leverage the data and analysis to make strategic investments in WaaS solutions that align with your business goals.

About Us

SNS Insider stands out as a distinguished market research and insights firm, boasting numerous accolades and a sterling reputation for excellence in service and strategy. Serving as your strategic ally, we specialize in reshaping challenges and uncovering solutions to even the most complex business dilemmas. Harnessing the power of expertise and interpersonal connections, we drive profound consumer insights and elevate client experiences. When you engage our services, you embark on a journey with seasoned and adept professionals. We prioritize collaboration with our clients, recognizing the paramount importance of tailoring each project to their unique requirements. After all, nobody comprehends your customers or community better than you do. Hence, our team adeptly crafts the right inquiries that resonate with your audience, ensuring the collection of unparalleled information.

Contact Us:

Akash Anand – Head of Business Development & Strategy

[email protected]  

Phone: +1-415-230-0044 (US)