Global WiFi as a Service Market 2024-2033: Size, Share & Growth Forecast Outlook

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 in the historic period can be attributed to cost efficiency and resource optimization, scalability for growing healthcare needs, regulatory compliance, focus on patient-centric care, 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 growth in the forecast period can be attributed to personalized medicine initiatives, continuous compliance management, enhanced user experience and interface, population health analytics, focus on mental health support, enhanced data governance and ethics.. Major trends in the forecast period include shift to cloud-managed wifi, rise of software-defined networking (sdn) for wifi, integration with iot devices, ai and analytics for network optimization, edge computing integration.

Market Overview -
The WiFi as a service refer to a subscription-based service integrating three essential components - software, infrastructure, and managed services. WiFi as a service is used to cut expenses, increase security and bring expertise to the external IT team.

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Surging Wifi System Adoption Drives Growth In The Wifi As A Service Market
The increase in the adoption and deployment of WiFi systems is expected to propel the growth of the WiFi as a Service market. The increase in the adoption of WiFi systems is primarily due to the reduction of the cost of ownership, increased efficiency, access, availability, flexibility, and convenience benefits. The increased adoption and deployment of WiFi systems automatically trigger the need for WiFi as a service option. For instance, a report by Wireless Broadband Alliance (WBA) suggested a mass adoption of Wi-Fi 6 by 2022 as 83% of organizations reported interest in adopting Wi-Fi 6. Therefore, an increase in the adoption and deployment of WiFi systems will drive the WiFi as a Service market growth.

Competitive Landscape -
Major companies operating 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.

New Technology Developments Drive Advancements In The Wifi As A Service Market
New technology development is a key trend gaining popularity in the WiFi as a service market. Many companies operating in the WiFi as a service market are developing new products or new technologies to meet the fast-growing demand from end customers and strengthen their business presence. New technology developments including smart WiFi management platforms offering various access points with better integration are focused on increasing the operational efficiency and reducing costs of ownership. For instance, in October 2021, HCL Technologies (HCL), a renowned worldwide technology company, launched HCL SMARTWiFi, a WiFi management platform aimed at communication service providers (CSPs) who provide WiFi services. HCL SMARTWiFi is a cloud-native, containerized, and highly scalable WiFi access point platform for large-scale deployments. When compared to traditional offerings, the platform has a cheaper total cost of ownership and contains a variety of access points from various prominent WiFi access point vendors. For operational control and reporting, HCL SMARTWiFi integrates with operation support and business support systems (OSS/BSS) network components for operational control and reporting.

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Key Segments -
The wifi as a service market covered in this report is segmented -
1) By Component: Professional Services, Managed Services
2) By Location Type: Indoor, Outdoor
3) By Enterprise Size: Large Enterprises, Small & Medium Enterprises (SMEs)
4) By End Use Industry: Telecom and IT, BFSI, Education, Healthcare, Hospitality, Transportation, Retail, Other End Users

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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