Growing competition of offline retail businesses with online retail businesses, increasing usage of public Wi-Fi hotspots across various locations, and growing prominence of data analytics in Brick-And-Mortar Businesses is driving market revenue growth
Market Size – USD 8.42 Billion in 2021, Market Growth – at a CAGR of 25.5%, Market Trends – Advancement in technology
The global Wi-Fi analytics market size is expected to reach USD 65.69 Billion in 2030 and register a revenue CAGR of 25.5% over the forecast period, according to the latest report by Reports and Data. The market revenue growth of Wi-Fi analytics is primarily driven by rising use of smart devices, as well as increased deployment of Wi-Fi connections in public locations to attract more consumers and use of big data analytics in the corporate sphere.
Wi-Fi analytics is the process of collecting analyzing customer data from Wi-Fi access points to report Key Performance Indicators (KPIs) such as customer traffic, dwell time, and churn likelihood. Wi-Fi analytics is used to improve operations, trigger marketing, and track campaign results. Wi-Fi has developed into one of the most widely used adaptable connection technologies in recent decades, with fast adoption across a wide range of business sectors. Wi-Fi analytics helps businesses make informed decisions regarding physical locations based on data acquired through wireless networks. Increased deployment of public Wi-Fi connections and increase in adoption of smartphone devices have propelled the growth of Wi-Fi analytics market.
However, concerns surrounding the privacy of the customers’ data owing to the tracking of their location through Wi-Fi-enabled devices hamper market revenue growth. Along with this, stringent government regulations regarding the use of Wi-Fi connections to collect data are also limiting adoption of the technology.
Companies profiled in the global market report include Cisco Systems, Inc., Skyfii Limited, Aruba (Hewlett Packard Enterprise Company), Zebra Technologies Corp., Cloud4Wi, Extreme Networks, Fortinet, Inc., Commscope, MetTel, and Spotonwifi.com.
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Some Key Highlights From the Report
- On Jan 27, 2022, Extreme Networks, Inc., a cloud-based networking company, and the National Hockey League (NHL) announced a new multiyear partnership that will see Extreme serve as the NHL's official Wi-Fi analytics provider and an official Wi-Fi partner in the U.S. through 2026. Extreme will deploy Extreme Analytics across select NHL arenas as part of the partnership. Extreme Analytics provides greater visibility into Wi-Fi network performance at cloud speed, giving the NHL instant access to business intelligence and actionable insights about foot traffic flow, application usage, and network security, as well as helping NHL teams improve certain aspects of venue operations.
- Solution segment accounted for largest revenue share in 2021 due to the increasing requirement of consumer behavior data in brick-and-mortar retail stores. Retail stores use the information to gain a competitive advantage, which is driving growth of the segment.
- Cloud segment accounted for largest revenue share in 2021, owing to increased flexibility and operational efficiency of deploying Wi-Fi analytics services and solutions directly from cloud-based solutions to a large client base.
- Footfall analytics segment accounted for largest revenue share in 2021. Wi-Fi-based footfall tracking technology allows retail centers to look into data in much more depth than other methods. Footfall analytics isn’t limited to just a footfall count either. Other features include behavioral trends, frequency, and peak usage and allow strategies to be made accordingly.
- Indoor segment accounted for largest revenue share in 2021. Increasing requirement of consumer data in offline retail businesses and intensifying competition between offline and online retail stores are expected to drive the growth of indoor segment throughout the forecast period.
- Market in North America accounted for largest revenue share in 2021. Changes in consumer demand in the food hospitality industries are expected to encourage end-users to accelerate the deployment of Wi-Fi analytics solutions and services over the forecast period. Moreover, increase in deployment of smart devices and emergence of smart cities across the globe is contributing to market revenue growth.
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For the purpose of this report, Reports and Data has segmented the Wi-Fi analytics market based on component, deployment, application, location, and region:
Component Outlook (Revenue, USD Billion; 2019–2030)
Deployment Outlook (Revenue, USD Billion; 2019–2030)
Application Outlook (Revenue, USD Billion; 2019–2030)
- Footfall Analytics
- Customer Experience Management
- Customer Behavior Analytics
- Customer Engagement
- Customer Loyalty Management
Location Outlook (Revenue, USD Billion; 2019–2030)
Regional Outlook (Revenue, USD Billion; 2019–2030)
- North America
- Asia Pacific
- Latin America
- Middle East Africa
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Key Advantages of Wi-Fi Analytics Report:
- Identification and analysis of the market size and competition
- Qualitative and quantitative analysis of the market data
- Data validated by industry experts after extensive primary and secondary research
- Extensive regional analysis of the Wi-Fi Analytics industry
- Profiling of key players along with their business overview, business strategies, deals and partnerships, and product portfolio
- SWOT and Porter’s Five Forces Analysis for in-depth understanding of the competitive landscape
- Feasibility analysis and investment analysis to enable strategic investment decisions
- Analysis of opportunities, drivers, restraints, challenges, risks, and limitations
Conclusively, all aspects of the Wi-Fi Analytics market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.
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