Research report presented by UnivDatos, Emphasis on Component (Solutions, Services), Deployment (On-Premises, Cloud), Application (Footfall Analytics, Customer Engagement, Customer Experience Management, Customer Behavior Analytics, Customer Loyalty Management), End-Users (Smart Infrastructure, Retail, Sports & Leisure, Hospitality, Others) and Geographical analysis (key regions and countries).
As per the research report, Global Wi-Fi Analytics Market is expected to reach the market valuation of US$ 30.7 billion by 2026 expanding at a reasonable CAGR of 28.53% during the forecast period (2021-2026) from US$ 5.5 billion in 2019.
Wifi analytics refers to the processing of data from Wi-Fi systems such as smartphones, tablets, and other mobile devices through a collection of Wi-Fi networks. Wi-Fi analytics is being used to help businesses of all sizes create comprehensive customer profiles to better interpret consumer behaviour within their scope. The idea has become one of the most widely used and adaptable networking strategies.
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Factors such as rising mobile usage and the introduction of the Internet of Things point to lucrative market expansion prospects. Furthermore, increased competition from online and offline retail businesses, as well as the deployment of public Wi-Fi across physical venues, has resulted in substantial industry expansion. Furthermore, the government's initiative for smart city construction in many regions has stimulated the growth of public Wi-Fi hotspots, which lead to the industry's growth.
However, with the current pandemic hazard, the total number of connected devices in the home is expected to range from seven to ten, depending on the country, with the proliferation of devices and IoT, the trend is obviously towards a rise to twenty, thirty, or more in the next few years. Due to remote working across countries, more people in the home are online at the same time, causing the Wi-Fi network to get overloaded and perform poorly. For example, the effect of COVID-19 on home Wi-Fi use has resulted in a drop in Quality of Experience (QoE). Low internet speed is causing a 40% rise in the number of call centre issues for certain operators. Slow Wi-Fi speeds are the most common cause of service calls, followed by unreliable Wi-Fi.
For a detailed analysis of the applications in the Wi-Fi Analytics Market browse through – https://univdatos.com/report/global-wi-fi-analytics-market-current-analysis-and-forecast-2020-2026
Insights Presented in the Report
“Amongst component, Solutions segment hold the major share”
The market is divided into solutions and services based on component form. With sales of US$ 4.1 billion in 2019, the solutions segment led the Wi-Fi analytics industry, which is predicted to rise at a CAGR of 27.13 percent over the projected period. The growing importance of consumer analytics in brick-and-mortar companies is fueling the development of Wi-Fi analytics solutions.
“Amongst deployment, On-Premise is expected to dominate the market during the analyzed period”
The industry is divided into two segments based on deployment: on-premise and cloud. In 2019, On-Premise accounted for about 63.8 percent of industry sales. Cloud, on the other hand, is projected to be the fastest-growing segment of the global economy. Wi-Fi analytics allows a company to make strategic choices about the physical space by using information accessible across the cellular network.
“Amongst Application, customer loyalty management is expected to dominate the market during the analyzed period”
Footfall Analytics, Customer Engagement, Customer Experience Management, Customer Behavior Analytics, Customer Loyalty Management, and Other Applications are the industry segments by application. Customer loyalty management has the highest market share of 34.1 percent in 2019 and is projected to continue to be the leading segment of the Wi-fi analytics market over the forecast period.
“Amongst end users, the Retail sector is expected to dominate the market during the analyzed period”
The market is divided into smart infrastructure, retail, sports& recreation, and hospitality based on end-user segmentation. The retail industry had the largest market share of 46.36 percent in 2019 and is expected to continue to do so in the projected period. The growth of their brand reach is due to the booming online shopping market and the growing number of hotels and restaurants offering a Wi-Fi network with many tools to incentivize their customers.
“North America represents one of the largest markets of the Wi-Fi Analytics market”
A systematic research was performed for various regions around the globe, including North America (the United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and the Rest of APAC), and the Rest of the World, to get a greater understanding of the business dynamics of the Wi-Fi Analytics market. North America led the industry in 2019, bringing in US$ 2.2 billion in sales. The market's growth opportunities are due to the increasing importance of big data analytics and the major players in the region's investments in cutting-edge technology. During the forecast period 2021-2026, however, the APAC area is predicted to have the highest CAGR of 32.25 percent.
The Wi-fi Analytics Market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.
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