Wi-Fi as a Service (WaaS) Market Report 2020–2030
Forecasts Plus Leading Company Analysis and Regional and Leading National Market Analysis
With growing demand for digitalization, internet is becoming a need of an hour. Unlike other essential commodities such as electricity, water, internet is becoming another important thing, which is gauging consumer attention and enables them to be part of digitalised world. Decrease in the cost of ownership of Wi-Fi infrastructure for enterprises, expansion and development of smart cities, surged in demand for widespread network and high-speed internet are the key drivers boosting the growth of the Wi-Fi as a Service industry during the forecast period. However, data security issues and cloud connectivity failure are few parameters, which are restraining the growth of the market in coming years.
The global Wi-Fi as a Service market is segmented into service, solution, vertical, deployment type, organization size and region. Based on the service, the market is broadly classified into professional services and managed services. Wherein the professional services are further segmented into advisory and implementation, support and maintenance and training, the managed services segment is expected to dominate the global WaaS market in forthcoming years. The segmental growth is attributed to complementary services offered by Managed Service Providers (MSPs). These complimentary services include the marketing cloud analysis, which is attracting most of the consumers as compared with professional services.
Apart from above, MSPs are third-party IT service providers, which remotely manage the IT systems and infrastructure of clients for recovery and backup of business-critical data. The MSPs carry out 24/7 remote monitoring and vendor management for their commercial customers.
Based on solution, the global Wi-Fi as a Service market is segmented into access points, WLAN controllers, wireless hotspot gateways, and others. Based on vertical, the market is broadly classified as education, retail, travel & hospitality, healthcare & life sciences, manufacturing, BFSI, it & telecom, transportation & logistics, government & public sector and others. Based on deployment, the market is spitted into public cloud, private cloud, hybrid cloud.
Based on organization size, the market is segmented into small and medium-sized enterprises and large enterprises. The SME segment of the WaaS market is expected to grow with a CAGR during the forecast period 2020 to 2030. SMEs are having budget constrain, owing to which, they always focus on reducing capital investment and generating maximum and optimised solution, which drives the demand for WaaS market among small and medium enterprises. Apart from lower cost, Wi-Fi as a service also leverage the small and medium enterprises to access reliable, fast, and secure networking performance without the necessity of deploying or managing cable-based connectivity in the company’s premises.
On the basis of region, the global Wi-Fi as a Service market is segmented into America, Europe, Asia Pacific and Rest of the World. North America dominates the global Wi-Fi as a service market during the period 2020 to 2030. The growth of the region is attributed to existence of key companies of the WaaS market in the region is the major factor responsible for the growth of the market. Players like ARRIS International, Extreme Networks, ADTRAN, Aerohive Networks, Viasat, Rogers Communications, Aruba, and Cisco Systems, along with several start-ups in the North America are driving the regional demand and growth of WaaS market. Also, the region is prominent in investing in R&D activities for the development of novel technologies coupled with strong economic growth drive the demand for the North America Wi-Fi as a Service market.
Recently, with advent of global pandemic; COVID-19, the demand for work from home infrastructure has increased beyond expected, which is another crucial parameter driving the demand for Wi-Fi as a Service across the globe. Even companies based in emerging economies are currently focusing on offering remote working platforms to their employees, which is another reason for the growth of the WaaS market, especial in the year 2020.
Key players operating the global WaaS Market are Mist Systems, Cisco Systems, LANCOM Systems, Huawei Technologies Co., Edgecore Networks , ARRIS International, Allied Telesis, Aerohive Networks, Rogers Communications, Singtel, Telstra Corporation, ADTRAN, Riverbed Technology, D-Link Corporation, Viasat, ALE International, Aruba, Arista Networks, Extreme Networks, Ubiquiti Networks, 4ipnet, Fujitsu, iPass, Superloop, and Fortinet. The companies operating in WaaS market are significantly involved in strategies like strategic partnership, new product launches to attract more consumers and generate more business.
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