Rise in deployment of public Wi-Fi, and expediency of Wi-Fi infrastructure management and remote troubleshooting drive the Wi-Fi as a Service market growth.

PORTLAND, PORTLAND, OR, UNITED STATE, April 29, 2024 /EINPresswire.com/ -- An increase in requisite for low capital expenditure, rise in deployment of public Wi-Fi, and expediency of Wi-Fi infrastructure management and its remote troubleshooting drive the growth of the global Wi-Fi as a Service market. On the other hand, several security concerns impede the growth to some extent. However, rise in the adoption of IoT and the surge in demand for Wi-Fi as a service among SMEs are expected to create lucrative opportunities in the industry.

According to a recent report published by Allied Market Research, the global Wi-Fi as a service market was valued at $3.36 billion in 2019, and is projected to reach $12.21 billion by 2027, growing at a CAGR of 17.6% from 2020 to 2027.

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Wi-Fi as a Service (WaaS) primarily serves to streamline Wi-Fi operations, encompassing WLAN configuration, network deployment, hardware and software management, as well as network monitoring and upkeep. Its applications are diverse, catering to organizations ranging from those without an existing Wi-Fi infrastructure to those seeking managed solutions for guest Internet access.

The growth of the global Wi-Fi as a Service market is propelled by various factors, including the growing demand for cost-effective solutions, the proliferation of IoT devices, the expansion of public Wi-Fi deployments, increased adoption by SMEs, and the ongoing development of smart city projects worldwide.

Impact of Covid-19 on Wi-Fi as a Service Market, Globally:

• The outbreak of the pandemic led to rise in the trend of work-from-home culture. Accordingly, there's been a significant rise in the demand for Wi-Fi services, which in turn has boosted the global Wi-Fi as a service market.

• Also, SMEs have started looking for economical and reliable wireless connectivity solutions for their organizations, which has contributed significantly for the continuation of revenue generation across the Wi-Fi industry.

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In 2019, the professional services segment emerged as the dominant force in the global Wi-Fi as a Service market, accounting for over two-thirds of the market share and is projected to maintain its supremacy through 2027. This dominance is attributed to its critical role in ensuring the efficient operation of Wi-Fi networks. Concurrently, the managed services segment is forecasted to witness the highest Compound Annual Growth Rate (CAGR) of 20.1% during the forecast period. The growth of this segment is propelled by the implementation of Service-Level Agreements (SLAs) for managed Wi-Fi services, guaranteeing the consistent achievement of business objectives for access, availability, and bandwidth, thus driving the segment growth.

Regarding location type, the outdoor segment contributed to approximately two-thirds of the total Wi-Fi as a Service market revenue in 2019 and is expected to maintain its lead by 2027. This dominance is attributed to the preference of organizations for deploying Wi-Fi as a Service in outdoor settings to ensure optimal Wi-Fi performance. Conversely, the indoor segment is projected to exhibit the fastest CAGR of 20.2% during the forecast period, fueled by the increasing demand for uninterrupted internet connectivity and the rising adoption of Internet of Things (IoT) devices.

Geographically, North America commanded a significant share of the Wi-Fi as a Service market in 2019, accounting for nearly two-fifths of the global market. The region's growth is driven by continuous technological advancements and the presence of a substantial number of Wi-Fi as a Service vendor. Conversely, the Asia-Pacific region is anticipated to witness the fastest CAGR of 20.5% from 2020 to 2027. This growth is attributed to factors such as the increasing penetration of smartphones, the demand for cost-effective internet services among small and medium-sized enterprises (SMEs), the rising popularity of high-speed internet connectivity, and intense competition among Internet Service Providers (ISPs) in the region.

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Frontrunners in the industry-

• Cisco Systems
• Huawei Technologies Co.
• Singtel
• Viasat, Inc.
• Fujitsu
• Commscope
• Extreme Networks
• Arista Networks, Inc.
• Pareteum Corporation
• Telstra Corporation

In 2019, the telecom & IT sector emerged as the primary contributor to the Wi-Fi as a Service (WaaS) market, driven by the pressing need for operational efficiency within these industries. Companies sought streamlined operations, comprehensive network monitoring, enhanced security measures, and improved productivity, all achievable through managed Wi-Fi solutions.

North America dominated the global Wi-Fi as a Service market in 2019 and is expected to maintain its lead in the forecast period. This dominance is fueled by the region's concentration of leading WaaS providers, widespread use of smartphones and smart devices, and the increasing adoption of Wi-Fi hotspots across retail, hospitality, and education sectors.

The outbreak of the COVID-19 pandemic in 2020 prompted Wi-Fi as a Service providers to pivot their business and marketing strategies. For instance, Extreme Networks introduced innovative solutions like the Portable Branch Kit in March 2020 to rapidly and securely provide connectivity to temporary remote office setups during the pandemic. Additionally, the rise of Bring Your Own Device (BYOD) policies and other mobility initiatives presents significant opportunities for cloud-managed Wi-Fi-as-a-Service providers.

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