WiFi as a Service Market Set to Soar: Anticipated 18.2% CAGR and a Whopping US$ 26.0 Billion by 2032
High-speed internet service and widespread coverage are key components of business growth. There is substantial demand for WiFi as a service (WaaS) that is expected to integrate software, infrastructure, and managed services segments into one packaged service and is also expected to be subscription-based. It is well known to end-user organizations that these services are cost-efficient and have a short life cycle, which means that the service is simple to configure for future updates. This is leading to a rise in the adoption of WiFi as a service.
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In the wake of the COVID-19 outbreak, the WaaS has been expanding globally. In most nations, it has become more and more popular to work from home since the global shutdown, which has resulted in an increase in demand for high-speed wireless fidelity services. Increased demand has fuelled the growth of the wireless fidelity market and contributed greatly to the growth of the industry's revenue.
The major IT companies also develop and offer advanced applications and services, such as Cisco Systems Inc., Aruba Networks, and Juniper Networks Inc. The Portable Branch Kit, for instance, is an Extreme Networks solution introduced in March 2020. A quick and secure connection can be established to temporary remote office sites through the solution. COVID-19 is a pandemic that is affecting the entire world, and the company is focused on helping its client base around the globe.
As a result of the easy management of wireless infrastructure over cloud services, WaaS is experiencing rapid growth. Managed over the cloud, WaaS allows enterprises to operate wireless networks from anywhere.
Network administrators can remotely manage WiFi infrastructure issues using cloud-based centralized management, saving both time and money by performing the work from a remote location. Commercial applications have long made use of dial-up access. Thanks to advancements in technology, even residential customers can now have reasonably priced high-speed Internet access.
Key Takeaways from the WiFi as a Service Market Report:
The WiFi as a Service Market is predicted to develop at a CAGR of 17.9% in the wireless local area network (WLAN) controller section of the solution category.
The CAGR for the outdoor segment of the location type category in the WiFi as a Service Market is anticipated to be 18.0% through 2032.
In the United States, the WiFi as a Service Market is estimated to reach US$ 9.1 billion by 2032, rising at a CAGR of 18.1% throughout the forecast period.
By 2032, the WiFi as a Service Market in the United Kingdom is expected to be valued at US$ 1.1 billion, with a CAGR of 17.3% through 2032.
With a CAGR of 17.5% throughout the forecast period, China is expected to reach a market size of US$ 1.9 billion in WiFi as a Service Market by 2032.
By 2032, the WiFi as a Service Market in Japan is estimated to be worth US$ 1.5 billion, growing at an annual rate of 16.4% through 2032.
With a CAGR of 15.9% throughout the forecast period, South Korea is predicted to reach a market size of US$ 934.3 million in WiFi as a Service Market by 2032.
Leading Key Players:
Juniper Networks Inc.
Cisco System Inc.
Huawei Technologies Co. Ltd.
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WiFi as a Service Market Segmentation:
Wireless Local Area Network (WLAN) Controllers
By Organization Size:
Small and Medium Enterprises
By Location Type:
Travel and Hospitality
Healthcare and Life Sciences
Banking, Financial Services, and Insurance (BFSI)
Transportation and Logistics
Government and Public Sector
Others (Media and Entertainment, Non-profit Organizations, and Real Estate)
Middle East & Africa
Nandini Singh Sawlani
Future Market Insights Inc.
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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