WiFi as a Service Global Market Report 2024

WiFi as a service refers to a subscription-based offering that integrates three crucial components such as software, infrastructure, and managed services. This service is employed to reduce costs, enhance security, and leverage the expertise of external IT teams.

The primary components of WiFi as a service include professional services and managed services. Professional services are project-based and address specific issues or challenges associated with WiFi as a service solutions. These services are more on-demand in nature than managed services and are deployed in both indoor and outdoor locations. Large enterprises and small to medium enterprises across various industries, including telecom and IT, BFSI, education, healthcare, hospitality, transportation, retail, among others, utilize these services.

The WiFi as a service market research report is one of a series of new reports that provides WiFi as a service market statistics, including WiFi as a service industry global market size, regional shares, competitors with a WiFi as a service market share, detailed WiFi as a service market segments, market trends and opportunities, and any further data you may need to thrive in the WiFi as a service industry. This WiFi as a service market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The WiFi as a service market size has grown rapidly in recent years. It will grow from $5.95 billion in 2023 to $6.72 billion in 2024 at a compound annual growth rate (CAGR) of 12.9%. The growth observed in the historic period can be attributed to several factors, including cost efficiency and resource optimization, scalability to meet the growing healthcare needs, adherence to regulatory compliance, a focus on patient-centric care, and the emphasis on faster implementation and time-to-value.

The WiFi as a service market size is expected to see rapid growth in the next few years. It will grow to $12.32 billion in 2028 at a compound annual growth rate (CAGR) of 16.4%. The anticipated growth in the forecast period can be attributed to initiatives in personalized medicine, continuous compliance management, improved user experience and interfaces, population health analytics, a heightened focus on mental health support, and enhanced data governance and ethics. Major trends expected in the forecast period include a shift towards cloud-managed WiFi, the rise of software-defined networking (SDN) for WiFi, integration with IoT devices, the application of AI and analytics for network optimization, and the integration of edge computing.

The WiFi as a Service market is anticipated to experience significant growth, primarily driven by the increasing adoption and deployment of WiFi systems. This surge in WiFi system adoption is attributed to the cost reduction, heightened efficiency, improved access, availability, flexibility, and convenience benefits associated with WiFi systems. As organizations increasingly embrace WiFi systems, the demand for WiFi as a service naturally follows suit. An insightful report by the Wireless Broadband Alliance (WBA) has predicted a widespread adoption of Wi-Fi 6 by 2022, with 83% of organizations expressing interest in its adoption. Consequently, the growing adoption and deployment of WiFi systems are set to propel the growth of the WiFi as a Service market.

The WiFi as a Service market is expected to witness growth due to the increased adoption of smartphones. The term 'adoption of smartphones' refers to the rising usage of smartphones by individuals and organizations worldwide. WiFi as a service for smartphones plays a pivotal role in delivering faster internet speeds, cost-effectiveness, extended battery life, personal hotspots, and managed WiFi services. In February 2023, Uswitch Limited reported that starting in 2022, the UK witnessed 71.8 million mobile connections, marking a 3.8% increase over 2021. With an anticipated UK population of 68.3 million by 2025, it is projected that 95% (approximately 65 million individuals) will own a smartphone. Consequently, the growing penetration of smartphones is a driving force behind the expansion of the semiconductor and other electronic components market.

A notable trend in the WiFi as a Service market is the development of new technologies. Several companies in this market are actively working on introducing new products or technologies to meet the escalating demand from end customers and enhance their market presence. Smart WiFi management platforms with diverse access points and improved integration are key aspects of these technological developments. In October 2021, HCL Technologies unveiled HCL SMARTWiFi, a cloud-native, containerized, and highly scalable WiFi management platform catering to communication service providers (CSPs). This platform, aimed at large-scale deployments, boasts a lower total cost of ownership compared to traditional offerings and integrates with operation support and business support systems (OSS/BSS) network components for enhanced operational control and reporting.

Major companies in the WiFi as a Service market are strategically focusing on introducing advanced Fixed Wireless Access (FWA) offerings to stay competitive. Advanced FWA offerings represent the latest generation of wireless home internet services that deliver high-speed broadband connections using the 4G and 5G radio spectrums. In August 2023, Bharti Airtel launched Airtel Xstream AirFiber, its FWA offering, on 5G for consumers in India. This solution addresses last-mile connectivity challenges in both rural and urban areas and offers extensive indoor coverage with built-in Wi-Fi 6, supporting simultaneous connections to up to 64 devices.

In April 2021, Viasat Inc., a global communications company based in the US, acquired RigNet Inc. for an undisclosed amount. This strategic acquisition brings RigNet's extensive sector expertise, established customer base, and global communications delivery infrastructure to Viasat. The collaboration enables both companies to further diversify Viasat's portfolio and address customers' communication challenges through digital transformation. RigNet, Inc., specializing in comprehensive technological services, aligns with Viasat's goals for expansion and enhanced customer offerings.

Major companies operating in the in the WiFi as a service market report are Arista Networks Inc., Hewlett Packard Enterprise Company LP, Cisco Systems Inc., ViaSat Inc., Extreme Networks Inc., Commscope Inc., Aerohive Networks, Inc, Mojo Networks, Inc., Fortinet, Inc., Huawei Technologies Co. Ltd., Ubiquiti Inc., Mist Systems, Cambium Networks Corporation, ADTRAN, Inc., D-Link Corporation, EnGenius Technologies, Inc., Firetide, Inc., Motorola Solutions, Inc., NETGEAR, Inc., Proxim Wireless Corporation, Redline Communications Group Inc., Siemens AG, SonicWall Inc., WatchGuard Technologies Inc., Zebra Technologies Corporation, Zyxel Communications Corporation, Nokia Corporation, Allied Telesis, Inc., Avaya Inc., Brocade Communications Systems, Inc., Dell Technologies Inc.

North America was the largest region in the WiFi as a service market in 2023. The regions covered in the WiFi as a service market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the WiFi as a service market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.

The WiFi as a service market includes revenues earned by entities by providing centralized network administration services, real-time visibility, business intelligence choices, customizable captive portals, location services, and reporting. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.