Wi-Fi as a Service Market Size, Share & Industry Analysis, By Access Point (Standalone Access Point, Multifunction Access Point, and Controlled Access Point), By Location (Indoor and Outdoor), By Organization Size (Large Enterprises and Small & Medium Enterprises), By End-User (Banking, Financial Services and Insurance (BFSI), Retail, Manufacturing, Transportation, Education, Healthcare, and Others), and Regional Forecast, 2024-2032

The global Wi-Fi as a Service market size was valued at USD 1.30 billion in 2023 and is projected to grow from USD 1.48 billion in 2024 to USD 4.40 billion by 2032, exhibiting a CAGR of 14.6% during the forecast period. The North America dominated the market with a share of 46.15% in 2023.

Wi-Fi as a service (WaaS) market is a subscription-centered service that integrates software, infrastructure, and managed services segment into one package. End-use organizations are deploying these service as it is cost-effective and has a short life cycle, making it simple to configure for future updates. Key companies including Juniper Networks Inc., Cisco System Inc., HPE (Aruba), Extreme Networks, are offering subscription centered WaaS services. Key players in the Wi-Fi as a service market are focusing on expanding their business units across developing nations. For instance,

• In May 2023, TP-Link launched Wi-Fi as a Service at Bett Brazil, showcasing VGI and Omada platforms for security and connectivity needs in education. The company offered these solutions through a monthly subscription mode, aiming to cater to universities, schools, and colleges of all sizes.

The COVID-19 outbreak has significant impact on the expansion of the WaaS across worldwide. Since the global shutdown, demand for high-speed wireless fidelity services has surged in most nations, owing to the growing tendency of working from home. The rising demand has made a substantial contribution to the wireless fidelity industry's revenue growth and resulted in the Wi-Fi as a service market growth. In addition, major companies, including Cisco Systems Inc., Aruba Networks, and Juniper Networks Inc. are developing and offering advanced apps and services. For instance,

• In March 2020, Extreme Networks developed novel and consumable solutions such as the Portable Branch Kit. The solution assists users to offer connection swiftly and securely to temporary remote office sites. The company is focused to assist its worldwide client base during the COVID-19 pandemic.

COVID-19 tracker dashboards from IBM Corporation, Microsoft Corporation, Covidvisualizer.com, Johns Hopkins University's Center for Systems Science and Engineering (CSSE), and others are being used by government agencies. These services are used to track and limit the spread of the disease. As a result of the COVID–19 pandemic, factories have begun to look at automation options to decrease human reliance, creating a market for IoT technology providers, which will have an influence on the expansion of WaaS networking devices.

Wi-Fi as a Service (WaaS) Market Trends

Emergence of IoT Technology and M2M Connectivity to Drive the Demand for WaaS Solutions

The proliferation of IoT devices across multiple sectors, such as manufacturing, healthcare, retail, and smart homes, has created an unprecedented demand for reliable and ubiquitous wireless connectivity. These IoT devices, ranging from sensors and actuators to smart appliances and wearables, exchange and generate vast amounts of data, requiring seamless communication channels to operate efficiently.

The rise of IoT devices is closely intertwined with the concept of machine-to-machine (M2M) connectivity, which enables the direct exchange of data between devices without human intervention. M2M connectivity plays a crucial role in enabling IoT devices to communicate with each other, as well as with cloud platforms and data centers, facilitating real-time data transmission and remote monitoring and control. WaaS solutions are well-positioned to address the connectivity needs of these high-density IoT environments by providing robust, secure, and reliable wireless coverage. WaaS providers are leveraging advanced technologies and sophisticated network management tools to ensure optimal performance, even in crowded environments with numerous connected devices.

In November 2023, Phantom Neuro announced an integration of IoT Wi-Fi with medical devices, challenging traditional communication standards. The approach replaced conventional Bluetooth technology by offering flexible and expansive solutions for implantable medical systems.

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Wi-Fi as a Service Market Growth Factors

Cloud-Based Wi-Fi Infrastructure Administration and Remote Troubleshooting to Aid Growth

The ease of managing Wi-Fi infrastructure over cloud is propelling the growth of WaaS market. WaaS enables enterprises to manage their wireless fidelity networks from any place. The cloud-based centralized management allows network administrators to remotely handle Wi-Fi infrastructure issues using a network management interface from a remote location, saving money and time.

Heightened Demand for High-Speed and Widespread Network Coverage to Fuel Growth

The growing demand for high-speed network is likely to drive the market growth. Dial-up service has long been the most popular mode of access across commercial applications. Advanced developments have made it feasible for even residential customers to have low-cost high-speed or broadband access. Further, players including, Juniper Networks Inc., Cisco System Inc., HPE (Aruba), Extreme Networks are substantially investing in the carrier industry since the cost of implementing the service is significantly economical than that of other services. Telecom carriers’ providers are leveraging benefits from carrier-grade wireless fidelity because of technologies like BYOD and IoT. Further, various Wi-Fi models offer extra features such as tracking and packing.

RESTRAINING FACTORS

Threat to Privacy, Data Security, and Cloud Connectivity Failure Hinder Growth

WaaS is a cloud-based internet access service. Various corporate tasks such as marketing, R&D activities, and production, are now carried over cloud platform, making operations and maintenance of data much easier. Any security failure of services results in an overall failure of operations in enterprises, putting business-critical processes at risk. Also, certain management and control capabilities in distant networks might be harmed by a loss of privacy. As a result, minor cloud challenges and data security concerns are limiting the WaaS market's growth. Concerns regarding Data security, threat to privacy, and compatibility issues with Wi-Fi devices, are some other factors that could slow down the market development.

Wi-Fi as a Service Market Segmentation Analysis

By Access Point Analysis

Controlled Access Points Segment to Dominate Owing to Rising Demand across BFSI and Retail Industries

Based on access point, the market share is split into stand-alone access point, multifunction access point, and controlled access point. Controlled access point is expected to have significant growth as these are commonly used in the retail and BFSI workplace to spread a single wireless network across a large geographic region. End users can walk throughout the office property, campus, or building while remaining connected to the network.

Whereas stand-alone access points are anticipated to grow in near future as it allows wireless network to perform same duties as a wired network's switch or hub. It enables wireless devices to exchange information with one another. Further, it also transmits frames from connected devices to the target device depending on their physical addresses.

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By Location Analysis

Ease of Integration of Emerging Technology to Surge Demand for Outdoor WaaS

Based on location, the market share is bifurcated into indoor and outdoor. The outdoor will likely hold the dominant market share over 2021-2028. The term "outdoor deployment" refers to the use of access points in outside environment. Outdoor access points are usually deployed in public events, stadiums, retail malls and other. This deployment style is ideal for densely populated areas and busy locations with a significant number of wireless fidelity users. Outdoor access points are highly scalable and built with advanced technology to provide users with the foremost network connectivity. Indoor access points are suited for applications such as point-to-point and multi-point, owing to the centralized administration console.

By Organization Size Analysis

Increasing Number of Startups across Retail & Ecommerce, Healthcare to Fuel the Growth

By organization size, the market share is segregated into large enterprises and small & medium enterprises (SMEs). The large enterprise is expected to account for the largest share over 2021-2028. Large organizations are investing in WaaS to address the rising issues such as privacy, data security and cloud connectivity failure.

During the projected period, small and medium enterprises segment could grow at the highest CAGR. The rising competition to gain more customers, startups across retail & ecommerce, healthcare and life sciences are focusing on adopting WaaS to advance their offerings over cloud channel.

By End-User Analysis

Increased adoption across BFSI, Healthcare, and Others to Aid Market Development

Based on end-user, the market share is divided into banking, financial services and insurance (BFSI), retail, manufacturing, transportation and logistics, education, healthcare & life science, and others. BFSI is expected to capture the highest share of the market in terms of revenue through 2028. It allows end-users with bandwidth management and control, customized branding for wireless fidelity guest users and easy monitoring across the network.

Also, infrastructures in the government and public sector hold critical data where WaaS is used to build a specialized network for government processes alone. Wireless fidelity is used to build communication routes between different industrial divisions.

Retail and manufacturing are expected to observe significant revenue growth during the forecast period. WaaS services are deployed in retail industry to manage various applications such as efficient storage and distribution, information exchange, and real-time tracking of products and vehicles.

REGIONAL INSIGHTS

The market share is geographically broken down into North America, South America, Europe, Middle East & Africa, and Asia Pacific.

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North America is predicted to dominate the market share led by early adoption of advanced technology and the presence of major market players. Leading WaaS vendors in the region are continuously innovating to expand the application scope of the technology. In addition to these factors, the readiness of consumers to adopt the latest tech will strengthen the regional outlook.

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Major market players in Europe are investing in WaaS service for smart cities projects. For instance, in September 2020, Deutsche Bahn launched WIFI@DB, a free linked wireless fidelity network that incorporates the operator's ICE fleet, more than 100 stops, all DB lounges, and certain regional public trains and buses.

The market growth across Asia Pacific is led by China, India, South Korea, and Japan. Attributed to rising digitization of sectors, such as manufacturing, automotive, healthcare, and other, the Wi-Fi as a service market is expected to develop at the fastest rate. The need for managed IT services in this area is growing as a result of continuing digital transformation. Furthermore, as Asia Pacific’s broadband and mobile infrastructure is evolving across SMEs, the mobile workforce and BYOD trend is gaining traction. For instance,

• In May 2023, Singapore Airlines offered free Wi-Fi to its premium cabin customers and selected loyal passengers. The airline extended this service to all KrisFlyer members across cabin classes, enhancing the passenger experience.

List of Key Companies in Wi-Fi as a Service Market

Emphasis of Key Players on Partnerships and Acquisition to Strengthen Competition

Juniper Networks Inc., Cisco System Inc., HPE (Aruba), Extreme Networks, Huawei Technologies Co. Ltd, Fortinet, Ruckus Networks, Arista Networks, D-Link Corporation, TP-Link, and others are a few notable names in the industry. The increasing competition in the market is encouraging companies to adopt new strategies, such as acquisitions, to strengthen their positions. For instance,

• In October 2023, Nokia and Tata Play partnered to launch India’s inaugural WiFi6 Ready broadband network. Nokia’s advanced fiber optical line terminal was deployed, which facilitated WiFi6 services and enhanced data capacity and seamless coverage for SOHO and residential customers.

List of Key Companies Profiled:

• Juniper Networks Inc. (California, U.S.)


• Cisco System Inc. (California, U.S.)


• HPE (Aruba) (California, U.S.)


• Extreme Networks (California, U.S.)


• Huawei Technologies Co. Ltd. (Shenzhen, China)


• Fortinet (California, U.S.)


• Ruckus Networks (California, U.S.)


• Arista Networks (California, U.S.)


• D-Link Corporation (Taipei, Taiwan)


• TP-Link (Shenzhen, China)

KEY INDUSTRY DEVELOPMENTS:

• March 2024 – Intel launched its new vPro computing platform with Wi-Fi 7 at the Mobile World Congress. Based on the newly released Intel Core Ultra processor, the platform boasted data rates up to 5 times higher than standard Wi-Fi 6.


• February 2024 – The FCCC approved seven AFC service providers, including Federated Wireless, Broadcom, and Qualcomm, among others, enabling standard power 6 GHz Wi-Fi operation across the U.S.


• January 2024 – Pavlo Media acquired NetExperience to accelerate the global expansion of the TIP Open Wi-Fi solution. NetExperience’s technology provided seamless connectivity for several markets and operated as an independent division of Pavlov Media.


• August 2023 – Airtel launched its wireless home Wi-Fi service, Airtel XStream AirFiber, powered by 5G Plus featuring WiFi-6 technology. This service aimed to bridge the Wi-Fi experience gap, with plans for a nationwide rollout.


• August 2023 – Plume and NOS expanded their partnership to launch ‘Wi-Fi Pro,’ a new connectivity service for small businesses in Portugal and Madeira. This service offered a cloud-driven suite of connectivity, security, and productivity services designed to optimize network performance and support business growth.

REPORT COVERAGE

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