Accelerated adoption of mobile technology among users to drive the Wi-Fi analytics market
The global Wi-Fi analytics market size is expected to grow from USD 5.3 billion in 2019 to USD 16.8 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 26% during the forecast period. The key factors driving the Wi-Fi analytics market include an increase in the use of smart devices, need of understanding customers behavior and to refine the marketing strategy to increase the sales.
Cloud deployment model to grow with a higher CAGR during the forecast period
Cloud-based Wi-Fi analytics solutions offer multiple benefits, including rapid implementation, reduced setup and operational costs, less maintenance cost, 24X7 data accessibility, scalability, security, and ease of use for SMEs. On-demand solutions are usually accessible through the internet and can be accessed from anywhere, whenever required. These solutions are subscription based and are easily customizable. Businesses are interested in cloud-based solutions, owing to their multiple advantages, such as low operational expenses, ease of deployment, improved scalability, and integration. Moreover, enterprises with limited resources, especially SMEs, tend to adopt cloud-based solutions as these tools provide the ability to integrate with many third-party integrations while constraining cost and resources.
Retail segment to engage with customers more frequently through Wi-Fi analytics
To convert casual browsers into regular patrons, retailers are adopting Wi-Fi analytics. As soon as the protentional customer enters the store along with the smartphone, the Wi-Fi enabled smart devices to transmit pings to detect and connect to available Wi-Fi networks and the access point and sensors passively listen to these pings. These help in defining the location of the smart devices, and all the collected data through the access points are used for location analytics to understand the traffic and visitor behaviors. However, in the next step, when the visitors sign-in to the network, the associated device is linked with permanent ID within the system to identify the visitor’s next visit and other associated information. In the different region, laws are already placed to protect the data, hence, these data are collected with the visitor’s consent and are anonymized before it provides businesses with Wi-Fi user analytics. This information gives the business an extra edge when it comes to run a segmented marketing campaigns. Before the visitor stats using the service, managers can splash pages with offers and discounts to boost the business.
Asia Pacific (APAC) to record the highest growth rate during the forecast period
Growing cloud adoption and vendor expansion are expected to drive the APAC Wi-Fi analytics market during the forecast period. Due to increasing competition, lower operational costs and higher productivity have become major concerns for organizations operating in the region, which need to be addressed immediately to stay competitive in the market. The companies in APAC continue to focus on improving their customer service to drive competitive differentiation and revenue growth. The increasing global competition and the high economic growth in the evolving countries, such as China and India, are boosting the growth of the market in APAC. China plays a key role in the technological landscape of APAC and is heavily dependent on technological innovations. Hence, organizations are rapidly adopting Wi-Fi analytics solutions to increase overall marketing and operational efficiency.
In-depth interviews were conducted with the Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the Wi-Fi analytics market.
- By Company – Tier 1 – 22%, Tier 2 – 30%, and Tier 3 – 48%
- By Designation – C-Level – 25%, Director Level – 30%, and Others – 45%
- By Region – North America – 12%, Europe – 42%, APAC – 26%, and RoW – 20%
Major vendors in the global Wi-Fi analytics market include Cisco Systems (US), Aruba Networks (US), Purple (UK), Cloud4Wi (US), Fortinet (US), Ruckus Networks (US), Extreme Networks (US), Yelp (US), Singtel (Singapore), SpotOn (US), Eleven Software (US), Aislelabs (Canada), Flame Analytics (Spain), Aptilo Networks (Sweden), Blix (Australia), SkyFii (Australia), Guest Networks (Canada), Hughes Network System (US), GoZone WiFi. The study includes an in-depth competitive analysis of these key players in the Wi-Fi analytics market with their company profiles, recent developments, and key market strategies.
- The Wi-Fi analytics market revenue is primarily classified into revenues from component, application, deployment model, and end use.
- The revenue is associated with software and platform offerings associated with support and maintenance, training, and education, in addition to the consulting services.
Key benefits of the report
- The report would help the market leaders/new entrants in the market with the information on the closest approximations of the revenue numbers for the Wi-Fi analytics market and the sub-segments.
- The report would help stakeholders understand the competitive landscape and gain insights to better position their businesses and plan suitable go-to-market strategies.
- The report also helps stakeholders understand the pulse of the market and provides them with information on the key market drivers, restraints, challenges, and opportunities.