The global wifi analytics market is projected to yield substantial revenue during the forecast period of 2020 to 2028, registering a CAGR of 19.43%. The attributing factors of the growth rate are an increase in demand for mobile phones, investment growth for WiFi analytics, an upsurge in the deployment of public WiFi, and adoption of big data analytics.
The WiFi analytics market comprises the use of WiFi networks for the data collection on WiFi-enabled devices such as laptops and smartphones utilizing information, particularly on the device behavior. This information also incorporates data regarding the activities conducted through the WiFi network’s internet connection and from areas encompassed by the WiFi-enabled system. WiFi analytics has become a vital part of companies and major corporations as it helps build detailed customer profiles. Moreover, it also helps cultivate an added understanding of customer behavior, within their setting and venue. Presently, mobile phones are one of the most frequently used mediums for communication, and the number of smartphone users is estimated to reach over 6 billion worldwide. Moreover, numerous applications related to entertainment, music, gaming, fitness, and health are being launched by vendors that cater to diverse audiences and their preferences. The demand for such devices has further increased due to the declining prices of tablets, smartphones, as well as several other technological developments. For instance, according to a study conducted in India by the Associated Chambers of Commerce and Industry of India, it is estimated that the number of smartphone users will have a significant rise. It is incredibly crucial to ensure security and privacy when devices are connected to public WiFi. However, several countries have raised countless security and privacy concerns about the use of free and open WiFi. Thus, privacy violations and infringements are responsible for hampering the growth of the global wifi analytics market.
The geographical segmentation of the global wifi analytics market comprises Europe, Asia Pacific, North America, and the rest of the world. According to Inkwood Research, the Asia Pacific region estimates to record the highest CAGR in terms of revenue. Many WiFi analytics vendors who dominate the North American region have begun expanding their businesses across the Asia Pacific. These endeavors have created lucrative and profitable opportunities within the global WiFi analytics market.
The prevalence of significant companies has proven to be hugely beneficial to the growth of the WiFi analytics market. Aruba Networks, Blix, Cisco Systems Inc, Purple, Gozone WiFi LLC, SingTel, etc. are among the distinguished companies in the market.
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