The gigantic internet web across all the verticals of the end-user industries coupled with constantly innovating technologies are set to surge the global Wi-Fi market
The outbreak of industry 4.0 is a result of robust technical innovation and tremendous amplification of Internet bandwidth. The wireless internet connectivity has radically optimized the utility and convenience for the users. Wireless internet connections are now being used to analyze human behavior and preferences. Wi-Fi analytics is a technique that analyzes information and details gathered through wireless internet network and converts them to valuable insights that further enhances the decision making for a physical space. This technology is gaining popularity as it offers the benefits of tracking visitors through a unique identifier per device. The prevailing wireless internet technologies such as public hotspot are driving the Wi-Fi analytics market that generated revenues worth $3.2 billion as of 2018. Although the market value is not exuberant, the demands in the global Wi-Fi Analytics Market are expected to grow at a CAGR of 28.2% during the forecast period of 2019 to 2025.
North America: Highest growth prospects in the region
North America is the most productive region in the global Wi-Fi analytics market and registered the regional market share of 32.84% in 2018. According to The World Economic Forum, the United States dominates the region with the highest Wi-Fi networks surpassing 50 million identified networks. The region exhibits an enormous market share owing to the presence of numerous enterprises coupled with early penetration of the Internet and the rapid adoption of wireless technologies.
Application Areas of Wi-Fi Analytics
Marketing: The key application in the Wi-Fi analytics market
The applications of Wi-Fi analytics are countless. However, marketing is observed as the most lucrative application in the global Wi-Fi analytics market. The formulating implementation of advertising strategies via wireless internet connection harnessed at numerous commercial complexes are advocating the Wi-Fi analytics market growth. During the forecast period, the marketing application in the Wi-Fi analytics market is projected to witness growth at a CAGR of 30.06%.
Massive application potential in the transport segment
Majority of the public transport such as buses, trains, and commercial airplanes are now coming with pre-installed Wi-Fi setup to cater to the needs of the passengers. Evidently, a good internet connection in public transport will attract a significant crowd to the transport’s Wi-Fi connection. Once connected, the Wi-Fi service starts fetching data to the service provider from the device. Then this data is further analyzed to attain valuable insights about a process or a situation. Thus, growing awareness of the benefits of using public transport is expected to drive the Wi-Fi analytics market. Public places such as airports, railway stations, and bus stations are now connected with a well-established wireless internet network, which indicates numerous people using the common Wi-Fi network. All the data generated here is further analyzed, and it provides insights such as the maximum crowded region, fastest-moving crowd, and the least crowded place. After this analysis, the operators of these commercial places can implement optimized decisions towards crowd handling. Hence, the Wi-Fi analytic technology is projected to enhance the business operations at certain segments of the society, which will support the Wi-Fi analytics market growth.
Fueling demands from the Hospitality Sector
Wi-Fi is imperative in hospitality services. Hotels, restaurants, and cafes are integrating free Wi-Fi service with their other respective services. With growing disposable income and changing the lifestyle of people, the crowd at these places is increasing, which further points to the heavy usage of Wi-Fi at these places. Therefore it is evident that the tourism sector is a major application of Wi-Fi analytics. According to the World Travel & Tourism Council, the tourism sector contributes to 10.4% of the total world GDP, generating $8.8 trillion in 2018. Foreseeing the current hospitality and tourism scenario, the global Wi-Fi analytics market is estimated to harness a substantial revenue.
Assured returns from the retail sector
Wi-Fi network at supermarkets, shops, and malls help the vendors analyze the preferences and the frequency of customers. The wireless connection aids the shop owners in counting people, identifying unique customers, and returning customers. An insightful record of such data allows the vendors to optimize their business processes according to their customer base. According to The World Economic Forum, despite the e-commerce prevalence in the market, the physical stores will continue to remain the leading revenue generator for the major retailers until at least 2026. Considering the constant growth in the retail sector, the demands in the Wi-Fi analyzer market will grow.
Growth in smart cities to Flourish the Wi-Fi analysis market
Several developing and developed economies have installed public Wi-Fi at numerous locations such as bus stops, pedestrian crossings, community halls, and other commercial places as an initiative towards smart cities. These Wi-Fi networks analyze the pedestrian traffic at places, favorite locations of people, and other activities related to customer engagement and interaction. As per the World Economic Forum, there are 1.3 million people migrating to smart cities every week, and 65% of the world population is projected to reside in smart cities by 2040. The growing trend of ultimate Wi-Fi network at smart cities is estimated to channel substantial revenues in the global Wi-Fi analyzer market.
Market Forces Driving the Wi-Fi Analytics Market
Rising Prevalence of Smartphones
As per the GSMA reports, around 5.21 billion unique mobile connections were recognized as of March 2019. The global mobile demands are subjected to increase continuously in the near future, which will encourage the global Wi-Fi analytics market growth. The internet connectivity is directly proportional to the growth in the smartphone market. With the growing concentration of smartphone connections, the vendors and retailers can offer a wider range of products and services based on consumer interests. Henceforth, increased concentration of smartphone users is positively impacting the retail market, which is further swelling the demands in the global Wi-Fi analytics market. Additionally, with ongoing digitalization of every possible device, the demands in the smartphone market are evident to rise, subsequently inducing revenues in the Wi-Fi analytics market.
Booming IoT Ecosystem:
We are on the verge to witness a flood of IoT devices; all these devices use the internet to establish communication among them. It is certain that the influx of IoT device will require a considerate amount of wireless network connections. A well-established Wi-Fi infrastructure is anticipated to boom the digital ecosystem. With the widespread adoption of IoT in the majority of the end-user industries, the requirement of Wi-Fi analytics is certain to increase, which will support further growth in the global Wi-Fi market.
The pervasive adoption of cloud computing technologies
Most of the existing and niche enterprises are inclining towards cloud deployment models for storing, manipulating, and transferring data across a standard platform. Similarly, all the Wi-Fi service providers are dependent on the cloud computing techniques to store and implement the analytics on the received data. Hence, constant research and development in cloud computing technologies for achieving efficiency is further subjected to attract significant profits in the global Wi-Fi analytics market.
Wi-Fi Analytics Market Competitive Landscape
Some of the major companies influencing the global Wi-Fi analytics market are Cisco Systems (US), Aruba Networks (US), Purple (UK), Cloud4Wi (US), Fortinet (US), Ruckus Networks (US), Extreme Networks (US), Yelp (US), Singtel (Singapore), SpotOn (US), Eleven Software (US), Aislelabs (Canada), Flame Analytics (Spain), Aptilo Networks (Sweden), Blix (Australia), SkyFii (Australia), Guest Networks (Canada), Hughes Network System (US), GoZone WiFi (US), Wefi (US), MetTel (US), WhoFi (US), Presence Aware Tech Ltd (UK), and Bloom Intelligence (US).
Talk to one of our sales representative about the full report by providing your details in the link below:
a) IoT Communication Technologies Market
b) Global Location Intelligence Location Analytics Market
Any other custom requirements can be discussed with our team, drop an e-mail to [email protected] to discuss more about our consulting services.
To request for a quote, provide your details in the below link:
Mr. Venkat Reddy
Email: [email protected]
Contact Sales: +1-614-588-8538 (Ext-101)
About IndustryARC: IndustryARC is a Research and Consulting Firm that publishes more than 500 reports annually, in various industries such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food and Beverages, Information Technology, and Life sciences and Healthcare.