Wi-Fi Analytics Market Worth US$ 30.7 billion with Huge CAGR of 28.53% During 2021–2026
According To Univdatos Market Insights — The Global Wi-Fi Analytics Market is expected to reach the market valuation of US$ 30.7 billion by 2026 expanding at a reasonable CAGR of 28.53% during the forecast period (2021–2026) from US$ 5.5 billion in 2019.
With the rising adoption of connected devices and the popularity of smartphones, the Wi-Fi analytics market is projected to boom enormously. Wi-Fi analytics enables people to use the information available through the wireless network to make better decisions about a physical space. It incorporates tracking things like devices actually on the Wi-Fi, devices that are detected near the Wi-Fi using AP probes, and information about other Wi-Fi access points or Wi-Fi channel strength. Increasing penetration of the internet as well as smart devices along with a rise in demand for capturing real-time data of the consumers across several industries to drive the global Wi-Fi analytics market. Moreover, increasing deployment of data analytics across numerous brick and mortar businesses, along with rising competition between online and offline retail businesses is further expected to propel the Wi-Fi analytics market, globally
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Wi-Fi analytics is the process of accumulating & evaluating customer data from Wi-Fi access points to report KPI’s such as customer traffic, dwell time, and churn likelihood. Wi-Fi analytics are used for improving operations, trigger marketing, and track campaign results. Every connected device, such as a cell phone, laptop, or tablet, broadcasts an anonymous signal. This signal allows Wi-Fi access to recognize a unique device ID associated with the device. One of the main solutions to meet the demands of the increasing demand for bandwidth has long been leveraging Wi-Fi networks, which enables operators to scale capacity to meet their subscribers’ needs. With advances and ratifications in Wi-Fi standards, dense environments with many concurrently connecting devices and IoT connections such as airports, public transportation, retail, healthcare, smart cities, stadiums, etc. result in public wi-fi use cases across industry segments. Based on the component, the market is mainly bifurcated into solutions and services. The solution segment dominates the market and generated revenue of US$ 4.1 billion in 2019.
Mobile devices are evolving from lower-generation network connectivity (2G) to higher-generation network connectivity (3G, 3.5G, 4G, or LTE and now also 5G). Combining device capabilities with faster, higher bandwidth, and more intelligent networks will facilitate broad experimentation and adoption of advanced multimedia applications that contribute to increased mobile and Wi-Fi traffic. Based on the deployment the market is mainly bifurcated into on-premises and cloud. The on-premise segment dominate the market and generated revenue of US$ 3.5 billion in 2019.
Based on the application, the market is mainly bifurcated Footfall Analytics, Customer Engagement, Customer Experience Management, Customer Behavior Analytics, Customer Loyalty Management, and Other Applications. In 2019, customer loyalty management accounted for the maximum market share with 34.1% and is expected to be the leading segment of the Wi-fi analytics market during the forecast period.
Wi-Fi technologies and services are seen as the savior for connecting remote users and individuals to networks in protected environments (i.e guest wireless) for events, hotspots, and to improve customer loyalty. They have evolved beyond these offerings to exploit new capabilities and opportunities. Based on the market segment by end-users, the market is fragmented into smart infrastructure, retail, sports& leisure, and hospitality. In 2019, the retail sector accounted for the maximum market share with 46.36% and is anticipated to lead throughout the forecast period.
Additionally, the report provides detailed initiatives that are being taken in the field of wi-fi analytics. The market is classified into distinct regions including North America (the U.S and Canada), Europe (Germany, France, Spain, Italy, and United Kingdom), Asia-Pacific (China, Japan, India, South Korea, and Australia), and the Rest of the World. North America generated maximum revenue of US$ 2.2 billion in 2019 owing to the surging adoption of big data analytics by several organizations and growing investments in the latest technologies. However, the APAC region is expected to witness the highest CAGR growth of 32.25% during the forecast period 2021 -2026.
Cisco Systems Inc, Zebra Technologies, Ruckus Wireless, Aruba Networks, Inc., Purple Wi-Fi Ltd, Cloud4wi, Fortinet Inc, Yelp Inc, Euclid and Hughes Network Systems LLC are some of the prominent players operating in the global wi-fi analytics market. Several M&A’s along with partnerships have been undertaken by these players to increase the adoption of wi-fi analytics across the world