Global Wi-Fi Analytics Market to Reach $22.8 Billion by 2026
SAN FRANCISCO, Aug. 10, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Wi-Fi Analytics - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 8; Released: May 2021
Executive Pool: 8778
Companies: 50 - Players covered include Aptilo Networks AB; Hewlett Packard Enterprise Development LP; Blix Traffic; Bloom Intelligence LLC; Cisco Systems Inc.; Cloud4Wi Inc.; Flame Analytics S.L.; Fortinet Inc.; GoZone WiFi LLC; Hughes Networks Systems LLC; Purple Wifi Ltd.; Retailnext Inc.; CommScope; Singapore Telecommunications Limited; Skyfii Limited; Soft Emirates and Others.
Coverage: All major geographies and key segments
Segments: Component (Solutions, Services);Deployment (On-Premise, Cloud); Application (Presence Analytics, Marketing Analytics); Vertical (Retail, Hospitality & Tourism, Sports & Entertainment, Transportation, Healthcare, Other Verticals)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Rest of Europe; Asia-Pacific; Rest of World.
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ABSTRACT-
Global Wi-Fi Analytics Market to Reach $22.8 Billion by 2026
Wi-Fi analytics refers to the use of Wi-Fi network for collecting data from diverse Wi-Fi enabled devices such as smartphones. The collected data is trove of information about the customer and device being served by the Wi-fi network. Wi-Fi analytics allow the information from wireless networks to be utilized for better decision making pertaining to a physical space. Wi-Fi analytics track devices on Wi-Fi networks, devices detected near Wi-Fi through the use of AP probes. In addition, information related to other Wi-Fi access points and data related to Wi-Fi channel strength. Such solutions are capable of tracking visitors using unique identifier for each device. The unique identifier is vital not just to track people in a given space but also to ascertain the frequency at which people return to that place. Presence analytics involves use of Wi-Fi AP probes for detection of devices that are near a Wi-Fi hotspot, both connected or not connected to the Wi-Fi network. With this data, Wi-Fi analytics companies can detect devices on the network and also the foot traffic through count of smartphone Wi-Fi signals. Retail Analytics refers to business intelligence that finds use in retail storefront. Retail analytics provide information related to point of sale, reward programs related statistics, and information related to people counters among others. Retail Wi-Fi analytics involves using AP probes for detection of foot traffic.
Amid the COVID-19 crisis, the global market for Wi-Fi Analytics estimated at US$7 Billion in the year 2020, is projected to reach a revised size of US$22.8 Billion by 2026, growing at a CAGR of 21.8% over the analysis period. Solutions, one of the segments analyzed in the report, is projected to record 20.4% CAGR and reach US$19.3 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Services segment is readjusted to a revised 25.8% CAGR for the next 7-year period.
The U.S. Market is Estimated at $2.1 Billion in 2021, While China is Forecast to Reach $2.1 By 2026
The Wi-Fi Analytics market in the U.S. is estimated at US$2.1 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$2.1 Billion by the year 2026 trailing a CAGR of 23.7% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 18.7% and 20.6% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 21.3% CAGR.
The penetration of public Wi-Fi is increasing owing to measures by private players as well as governments in a bid to expand internet coverage and improve user experience. Public transit places such as airports and railway stations routinely provide free Wi-Fi in a bid to make them user friendly. In addition, retail spaces such as malls and shops are providing public Wi-Fi services to provide an improved user experience as well as to analyze user behavior within their premises. Digital initiatives such as smart cities are also driving public Wi-Fi installations across the world, providing an avenue for the growth of the Wi-Fi analytics market. Increasing penetration of Wi-Fi enabled devices such as smartphones and laptops, as well as the penetration of public Wi-Fi services are driving the market for Wi-Fi analytics. Smartphone penetration is increasing at a significant pace and majority of the global population now uses a smartphone. The availability of cheaper smartphones with advanced features is driving the market and increasing adoption of smartphones worldwide. The increasing smartphone penetration is enabling establishments to tap analyze behavior using Wi-Fi analytics. The adoption of Internet of Things (IoT) and application of big data analytics are expected to further boost the market prospects for Wi-Fi analytics. IoT and Big Data analytics penetration is increasing across the world. Big Data analytics are being implemented across businesses to study consumer behavior to provide better service and improve revenues. Wi-Fi analytics enable businesses to collect and analyze consumer data within their premises, and the implementations are driving the market for Wi-Fi analytics. With 5G services and IoT on the cusp of mass adoption, the deluge of data is expected to increase further.
Artificial Intelligence (AI) and Machine Learning (ML) have the potential to be game changers in Wi-Fi analytics. Present Wi-Fi analytics solutions are capable of providing insightful inputs into consumer behavior. However, AI and ML have the potential to automate the analyses, especially in dense areas such as shopping malls, sports stadia, and hospitals. In addition, the advent of IoT would provide a deluge of data for Wi-Fi analytics and AI & ML would enable faster analysis of the data in such instances. The automation of the analyses would enable the IT departments to utilize resources freed from the activities to other tasks. Strict regulations are resulting in the strengthening the Wi-Fi analytics market. In particular the GDPR regulation, which came into effect in 2019 in the EU, mandates all processors and controllers managing personal data of EU residents to put into place strict security measures to prevent any security or data breach. These regulations are expected to result in a greater need for secure application of Wi-Fi analytics that ensure compliance with various regulatory specifications. More
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