Wi-Fi Analytics Market size is speculated to witnesses stellar growth through 2027 primarily due to the rising public Wi-Fi hotspots, increasing smartphone user base, expanding adoption of big data, and ongoing smart city initiatives worldwide. In a Public WiFi user survey by the Identity Theft Resource Center, it was revealed that 78% of the respondents accepted using public WiFi connections at least once a month.
Wi-Fi analytics involve the use of Wi-Fi access points to gain insights on visitors, like the locations they visit, time spends, and much more. Moreover, Wi-Fi analytics through increased use of smartphones is projected to benefit enterprises to present enhanced customer occurrence through location-based marketing and enhancing consumer engagement in business.
Increased risks of data theft and cyberattack due to public hotspot connection, is expected to present a major challenge for Wi-Fi analytics market growth over 2021 to 2027.
Wi-Fi analytics solutions segment is expected to generate considerable gains over the forthcoming years. The solutions help hotels, retail stores, restaurants, and other public places with customer engagement, behavior analytics, engagement, and loyalty management. Nonetheless, the emergence of social Wi-Fi has enabled businesses to deliver a personalized and seamless consumer experience through an omnichannel sales approach to gain a competitive edge.
Considering the application arena, Wi-Fi analytics is being largely used for WiFi marketing across various retail stores. It allows retailers to offer wireless internet access to shoppers and then use it as a channel to communicate promotions and messages. WiFi marketing across the retail industry is one of the ways that enables physical retailers to hold grip of the digital world and create a multiple channel experience for their shoppers in real time. Data by Cisco suggests that 96% of the shoppers prefer to shop at stores that have free WiFi access, and they are also more likely to return.
The smart infrastructure segment is projected to garner substantial gains in the Wi-Fi analytics market over the stipulated time frame. Smart infrastructure seeks to overcome the challenges faced by diverse cities across the world, such as public transport, energy management, security, and others. However, this is only likely to be possible with the collection and analysis of accurate information from vivid sources, wherein the requirement for WiFi increases.
North America Wi-Fi analytics market, led by the US, is poised to emerge as a prominent growth hub owing to the presence of a large number of public places like hotels, restaurants, airports, stadiums, and others who have been highly adopting WiFi technologies to be at peace with the digitization trend.
Asia Pacific is slated to record phenomenal gains across the overall Wi-Fi analytics industry given the escalating use of Wi-FI technology in various developing countries like China and India. Besides, rising penetration of smartphone users in the region and surging use of public wi-fi networks is also stimulating the business prospects of Wi-Fi analytics market across Asia Pacific.
Wi-Fi analytics industry is highly consolidated and boasts of the presence of leading names including Cisco Systems, Inc., Aptilo Networks, Hughes Network Systems, Inc, Fortinet, Inc., Bloom Intelligence LLC, Eleven Software, and Flame Analytics, amongst others. These vendors have been effortlessly working towards bringing in novel innovations in the space while being engaged in strategic moves such as mergers, acquisitions, product diversification, and others.
In 2020, Hughes announced partnership with Facebook Connectivity to install 1000th satellite enabled express Wi-Fi hotspot in the economies of Latin America.
Recently, Fortinet declared its collaboration with Linksys to deliver security and performance for WFH network. Apparently, Fortinet has been claimed to invest $75 million in the latter company to offer organization with reliable, fast, simple and secure remote connectivity.
As various small as well as large scale businesses look to shift to the digital platform during coronavirus pandemic induced lockdown and restriction in movements, the demand for wireless connectivity has gradually surged across various economies. This upsurge in the demand is expected to propel the business dynamics for Wi-Fi analytics market even during the pandemic realm and beyond.