Wi-Fi as a Service Market to Perceive Prominent Growth of USD 12.21 Billion by 2027 – Allied Market Research
Significant adoption of IoT & development of smart city projects is propelling the Wi-Fi as a service market growth.
PORTLAND, PORTLAND, OR, UNITED STATE, April 19, 2023 /EINPresswire.com/ — As per the report published by Allied Market Research, the global Wi-Fi as a service industry generated $3.36 billion in 2019, and is projected to garner $12.21 billion by 2027, growing at a CAGR of 17.6% from 2020 to 2027.
Rise in requisite for low capital expenditure, expediency of Wi-Fi infrastructure management and its remote troubleshooting, and surge in deployment of public Wi-Fi have boosted the growth of the global Wi-Fi as a service market. However, security concerns hamper the growth of the market growth. On the contrary, increase in adoption of IoT and surge in demand for Wi-Fi as a service among SMEs would open new opportunities for the market players in the future.
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Impact of Covid-19: (Pre and Post Analysis):
• Due to the Covid-19 pandemic, several companies adopted the work-from-home culture. This increased the demand for Wi-Fi services.
• Moreover, SMEs have increased the demand for economical and reliable wireless connectivity solutions for their organizations. This increased the market growth.
The global Wi-Fi as a service market is segmented on the basis of service, location type, enterprise size, industry vertical, and region.
Based on services, the managed services segment is projected to register the highest CAGR of 20.1% during the forecast period. However, the professional services segment held the lion’s share in 2019, contributing to more than two-thirds of the market.
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On the basis of location type, the indoor segment is estimated to manifest the highest CAGR of 20.2% during the forecast period. However, the outdoor segment dominated the market in 2019, holding around two-thirds of the market.
The global Wi-Fi as a service market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across North America held the largest share in 2019, accounting for nearly two-fifths of the market. However, the market across Asia-Pacific is anticipated to portray the highest CAGR of 20.5% during the forecast period.
The global Wi-Fi as a service market includes an in-depth analysis of the prime market players such as Cisco Systems, Huawei Technologies Co., Singtel, Viasat, Inc., Fujitsu, Commscope, Extreme Networks, Arista Networks, Inc., Pareteum Corporation, and Telstra Corporation.
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Key Benefits For Stakeholders:
• This study includes the analytical depiction of the global Wi-Fi as a service market forecast and trends to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and Wi-Fi as a service market opportunity.
• The current market size is quantitatively analyzed from 2019 to 2027 to highlight the financial competency of the Wi-Fi as a service industry.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the WaaS market.
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