Market Research Report
Global Wifi Analytics Market - 2019-2026
|Published by||DataM Intelligence||Product code||944262|
Delivery time: 1-2 business days
|Global Wifi Analytics Market - 2019-2026|
|Published: June 25, 2020||Content info:||
Wi-Fi Analytics includes the use of the Wi-Fi networks for the data collection on Wi-Fi devices including smartphones and laptops. It provides detailed information on the device behavior regarding the space covered by the Wi-Fi network, and the activity performed via the Wi-Fi network's internet connection. Wi-Fi Analytics is useful for improving business operations, physical layouts, and marketing initiatives. The wi-fi analytics market valued USD XX million in 2018 and it is expected to grow at a CAGR of XX% to reach USD XX million by 2026.
The market is driven by the rising demand for the Wi-Fi Analytics with the growing adoption of the Internet of Things (IoT) and smart devices to understand the customers' behavior and to refine the marketing strategy to increase sales. The increase in the smartphone users and growing smart city deployment leading to rising Wi-Fi hotspots in public places such as transport hubs, shopping complexes, shared taxis, and trains shall stimulate the market growth.
There is an increase in the launch of the Wi-Fi analytics innovative solutions. For instance, in June 2019, Inpixon had launched the IPA Wi-Fi and support of IPA Pod sensors within the IPA Wi-Fi solution. IPA Wi-Fi is an inexpensive, easy-to-activate visitor analytics solution that leverages a customer's existing Wi-Fi infrastructure. It doesn't require any hardware. It provides the visitor counts, dwell times, path analysis, and other critical metrics for smart infrastructure stores, brands, shopping centers, office buildings, and other organizations. It is available via a software-as-a-service (SaaS) subscription model. It also includes the integration option including the people-counting cameras to enable more accurate counts, weather information to help customers determine the impact of inclement weather on store traffic, and correlation of RF devices to security video camera images to help security personnel identify persons of interest and to know when they return to the site. These integration options are not available with other visitor analytics solutions. IPA Pod is a specialized Wi-Fi sensor that can expand coverage areas, increase the number of devices detected, and improve positional accuracy compared to using solely the existing Wi-Fi infrastructure.
In January 2018, Hughes Systique and Hughes Network Systems had launched the Wi-Fi analytics solution. The HSC Analytics solution is cloud-hosted, requires little to no configuration, and is an ideal analytics platform for businesses to understand what their customers are doing and improve store efficiency. This platform includes the rich visualization for presence, social, and web analytics along with the ability to customize the graphs to suit different enterprise needs.
The stringent regulations imposed by the government bodies shall boost the adoption of Wi-Fi analytics over the forecasted period. Such regulations by the government support the more secure application of Wi-Fi analytics and demand from the vendor. For instance, The General Data Protection Regulation (GDPR) come into force by the European Parliament across the European Union in 2018. General Data Protection Regulation (GDPR) is a new set of rules designed to provide the EU citizens more control over their data. It aims to simplify the regulatory environment for business so both citizens and businesses in the European Union can fully benefit from the digital economy. All the data controllers and processors that handle personal information of EU residents have to implement the proper security measures for minimizing the loss of personal data. The Controllers are also forced to ensure that all contracts with processors must follow GDPR.
The Wi-Fi analytics market is segmented based on the component as the solutions and services. The solutions segment accounts for the highest market share due to the higher adoption of the Wi-Fi analytic solutions that aid the retail stores, hotels, restaurants, and other industries with the footfall analytics, customer engagement, customer experience management, customer behavior analytics, and customer loyalty management. The market is dominated by the availability of several Wi-Fi analytic solutions. For instance, Hughes Systique's WiFi Analytics Solution is a powerful and flexible analytics platform that helps businesses to monetize the raw location information by converting them into actionable business insights based on accurate footfall measurement, dwell time analytics, heatmaps and further into predictive analytics including future footfall expectations and others. Several companies are also providing social Wi-Fi solutions that integrate social media and Wi-Fi captive portals. These solutions provide a seamless and personalized consumer experience via omnichannel sales approaches.
Further, the Wi-Fi Analytics market is also classified based on the application as the wi-fi presence analytics, and wi-fi marketing analytics. The wi-fi marketing analytics segment is expected to grow at the highest CAGR over the forecasted period due to the increasing usage of the wi-fi marketing analytics for knowing about the customers, their social media preferences, and what factors motivate them to buy for increasing the sales. The wi-fi marketing analytics also encourages customer engagement, gathering the customers' feedback, and recognizing individual behaviors. The wi-fi marketing analytics includes the collection of personal data such as customer name, age, birthday, gender, and hometown, and digital marketing data including the email addresses and social profiles. The wi-fi marketing analytics provide an in-depth understanding of the real-time data of marketing activities for maximizing the effectiveness and optimizing the return over investment.
By region, the wi-fi analytics market is segmented into North America, South America, Europe, Asia-Pacific, Middle-East, and Africa. Among all of the regions, North America dominated the wi-fi analytics market due to the high usage of wi-fi analytics in various industries such as retails, e-commerce, manufacturing, and hospitality industries. Several hotels and restaurants are providing a Wi-Fi platform that offers the various tools to incentivize the guests to bond with their hotels and restaurants. There is a growing adoption of the technologically advanced wi-fi analytics for increasing customer engagement. There is the presence of a large number of companies providing wi-fi analytics. The growing number of companies providing education and training programming for cybersecurity skills shall stimulate market growth. For instance, in April 2019, Fortinet Inc. had provided education and training programming includes additional Fortinet Network Security Expert (NSE) Institute cloud certifications and the offering of its cybersecurity awareness training at no cost for individuals or organizations seeking to deploy a cybersecurity awareness training program.
The Asia-Pacific region is expected to have positive market growth owing to the growing penetration of the wi-fi analytics by several retailers, restaurants, and hotels for attracting the customers. There is increasing interest of the people towards the free Wi-Fi. There is an increase in the number of smartphones being connected with the Wi-Fi hotspot that helps retailers to provide more products and services based on customers' interests. The growing domestic income and purchasing power of people shall boost the demand for wi-fi analytics over the forecasted period.
The Wi-Fi Analytics market is highly competitive with the presence of several international and local market players. The technological advancement, revenue generation, and opportunities intensify the market competition. Cisco Systems Inc., Euclid Analytics, Cloud4Wi, Purple Wi-Fi, Fortinet Inc., Ruckus Wireless Inc., Blix, and Skyfii Limited are the leading Market players with significant market share.
Companies are using novel Wi-Fi analytics innovative solution launches, capacity utilization, technology advancement, new product development, and market expansion strategies for holding their position in the market. For instance, In April 2019, Cisco Systems, Inc. had launched innovative solutions i.e. Wi-Fi 6, the new standard for Wi-Fi networks. This innovative solution would embrace a new age of wireless connectivity. Wi-Fi 6 delivers up to 400 percent greater capacity and is more effective in high-density settings like large lecture halls, stadiums, and conference rooms. It provides the smarter and more secure wireless network with the custom, programmable chipsets, and access to industry-leading analytics capabilities.
The companies are entering into the collaborations, mergers, strategic partnerships, and acquisitions to increase the demand for the wi-fi analytics market and their expansion across the globe. For instance, In November 2019, BT had entered into the multi-year partnership with Purple, the Manchester-based specialists in Wi-Fi analytics and engagement. The partnership would lead to the incorporation of advanced customer engagement capabilities within BT Wi-Fi services enabling BT to provide high street businesses with a level of customer insight, tracking, and analytics relating to footfall and user behavior.
In October 2019, Manchester Analytics firm Purple had taken over Ohio-based Logic Junction, with the combined businesses operating under its 'Purple' brand. Purple offers a WiFi platform through which businesses can monitor customers' shopping patterns and habits, allowing them to communicate with targeted messaging. This deal would enhance the Purple portfolio with its 'wayfinding' technology, which provides indoor navigation and location-based systems.
In August 2018, Cisco Systems, Inc. had acquired the July Systems, Inc., a cloud-based WiFi analytics provider.
In December 2013, RetailNext, Inc., the in-store analytics market leader, had acquired the Nearbuy Systems, the leading provider of location-based Wi-Fi Analytics solutions for retailers. Nearbuy is the largest provider of in-store opt-in analytics, enabling retailers to enhance one-to-one engagement and personalization strategies. This acquisition would help the company to build the most advanced in-store analytics platform for retailers around the world.
*The global wi-fi analytics market report will provide access to approximately 53 Market data tables, 44 figures, and 178 pages