Global Wi-Fi as a Service Market Size, Share, Growth Analysis, By Type(Managed Service and Professional Service), By Verticals(Retail, healthcare) - Industry Forecast 2023-2030

Global Wi-Fi as A Service Market size was valued at USD 5.26 Billion in 2022 and is poised to grow from USD 6.39 Billion in 2023 to USD 30.36 Billion by 2031, at a CAGR of 21.50% during the forecast period (2024-2031).

The adoption of Wi-Fi as a Service (WaaS) is gaining momentum due to its cost-effectiveness and scalability, making it an appealing choice for businesses. The demand for widespread and high-speed network coverage is also increasing, leading to the expanded deployment of WaaS. Additionally, the rising popularity of air-gapped services is further driving market growth. Various sectors, including BFSI, manufacturing, retail, and transportation & logistics, are experiencing extensive deployment of public Wi-Fi networks, positively influencing the WaaS market. Technological advancements and the preference for cloud-managed Wi-Fi services are additional factors propelling industry growth. WaaS, a cloud-based subscription model, provides end-to-end Wi-Fi solutions with automatic system upgrades, access points, and cloud-native management/control planes. It offers reliable, secure, and fast wireless local area network (WLAN) access across multiple locations, along with real-time network monitoring and access to historical and real-time Wi-Fi network usage data. Particularly advantageous for smaller businesses, office relocations, and temporary locations, WaaS ensures fast and reliable data network connectivity managed through a network operating center. It enhances security for bring your own device (BYOD) technology by enabling limited network access for non-network devices and offering vendors assistance in managing network access parameters, revoking device privileges, and remotely erasing data from selected devices. Managed Wi-Fi services replace vulnerable consumer-grade systems with robust hardware and efficient services, providing improved scalability, stability, and additional security features. Consequently, the increasing adoption of BYOD technology and the growing presence of internet-connected devices in IT institutions and organizations are driving Wi-Fi market growth.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Wi-Fi As A Service Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analysed to get the final quantitative and qualitative data.

Global Wi-Fi As A Service Market Segmental Analysis

Global Wi-Fi As A Service Market is segmented by type, verticals, and region. Based on type, the market can be segmented into managed service, and professional service. Based on verticals, the market is segmented into retail, healthcare, and education. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Drivers of the Global Wi-Fi As A Service Market

A significant factor propelling the expansion of the Wi-Fi as a Service (WaaS) market is the growing need for extensive and high-speed network coverage. Businesses across diverse sectors require reliable wireless connectivity to sustain their operations efficiently. With the increasing preference for cloud-managed Wi-Fi services and the essential role of seamless connectivity in the contemporary digital landscape, there is a rising demand for WaaS solutions. This trend is prompting WaaS providers to deliver scalable, secure, and affordable Wi-Fi solutions to address the escalating market requirements.

Restraints in the Global Wi-Fi As A Service Market

While the Wi-Fi as a Service (WaaS) market shows promise for substantial growth, it encounters specific limitations. A primary challenge revolves around apprehensions regarding data security and privacy. Given that WaaS entails storing confidential data in the cloud and depending on wireless networks, organizations are wary of potential cyber risks and data breaches. Moreover, navigating regulatory requirements and legal intricacies related to data protection presents obstacles to market expansion. To address these challenges, WaaS providers need to prioritize robust security protocols, comply with regulations, and maintain transparent data management practices.

Market Trends of the Global Wi-Fi As A Service Market

A significant trend in the Wi-Fi as a Service (WaaS) market is the increasing embrace of cloud-managed Wi-Fi services by businesses. This preference for cloud-based solutions stems from their adaptability, scalability, and simplified administration. With cloud-managed WaaS, organizations can centrally oversee and regulate their wireless networks, ensuring seamless connectivity and streamlined management. This shift is motivated by the quest for straightforward network administration, economical solutions, and the agility to respond swiftly to evolving business needs. Cloud-managed WaaS empowers businesses to harness cloud technology's advantages while guaranteeing dependable and secure wireless connections.