According to the latest report by IMARC Group, titled "Wi-Fi Analytics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global Wi-Fi analytics market reached a value of US$ 9.0 Billion in 2021. Wi-Fi analytics is the method of collecting and analyzing customer data through wireless fidelity (Wi-Fi) access points in order to improve business operations, marketing initiatives and community spaces. It involves the utilization of Wi-Fi networks for gathering data from the activity performed via the Wi-Fi network's internet connection and the space covered by the Wi-Fi network. It is widely adopted by multiple businesses to act as a bridge for determining the gap between online and offline visibility into visitor behavior. As a result, it helps enterprises in understanding customer behavior and building detailed customer profiles for effective decision-making.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Wi-Fi Analytics Market Trends:
The global market is primarily driven by the increasing adoption of Wi-Fi-enabled devices among the masses. Coupled with the rising installation of Wi-Fi hotspots in homes and public places, including airports, train stations and shopping malls due to the increasing demand for high-speed connectivity across the globe, this is providing a boost to the market. With a considerable increase in data generation, multiple leading players are heavily investing in the deployment of Wi-Fi analytics, which is augmenting the growth of the market. Additionally, continual technological advancements, such as the integration of cloud computing and the Internet of Things (IoT), with Wi-Fi analytics are impacting the market growth favorably. Other factors, including rapid urbanization and digitization, the rising adoption of online services for shopping, payments and travel bookings, the growing investments towards smart city development, intensive business competition, continuous improvements in the information technology (IT) infrastructure and extensive research and development (R&D) activities conducted by key players, are also positively influencing the market. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 34.2 Billion by 2027, exhibiting a CAGR of 25.8% during 2022-2027.
- On the basis of the component, the market has been segmented into solution and services.
- Based on the deployment, the market has been bifurcated into cloud-based and on-premises.
- On the basis of the application, the market has been segregated into Wi-Fi presence analytics and marketing analytics.
- Based on the industrial verticals, the market has been classified into retail, hospitality and tourism, sports and entertainment, transportation, healthcare and others.
- On the basis of the region, the market has been divided into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others) and the Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of these players include Blix, Cisco Systems Inc., Cloud4Wi, Fortinet Inc., GoZone WiFi LLC, Hewlett Packard Enterprise Company, Hughes Network Systems LLC (Echostar Corporation), Purple, Ruckus Networks (CommScope Inc), Skyfii Limited and Yelp Inc.
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