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Wi-Fi Analytics Market To Generate Revenue Worth $52,975.5 Million by 2030

Wi-Fi Analytics Market To Generate Revenue Worth $52,975.5 Million by 2030

Published: June 2020

The rising penetration of smartphones, increasing adoption of the big data technology, and growing number of public Wi-Fi networks are the key factors that are positively impacting the growth of the market. Owing to such factors, the global Wi-Fi analytics market is expected to generate $52,975.5 million revenue by 2030, advancing at a CAGR of 24.2% during the forecast period (2020–2030), according to P&S Intelligence

At present, the Wi-Fi analytics market is experiencing a decline in its growth, due to the global lockdown scenario caused because of the coronavirus pandemic (COVID-19). There are numerous factors that are restricting the smooth penetration of Wi-Fi analytics solutions, which include the closure of shopping malls, sports centers, restaurants, hotels, and other public-gathering areas. However, in the coming years, the industry is expected to gain momentum in its growth. Businesses will integrate Wi-Fi analytics solutions in order to increase their revenue and combat the loss that was incurred due to the crisis, which will result in the market growth. In addition to this, the deployment of advanced technologies, such as internet of things (IoT) and artificial intelligence (AI), is further projected to boost the market growth during the forecast period.

Retail Category to Witness Fastest Growth in Market during Forecast Period

The retail category, among all end users, is projected to attain the fastest growth in the Wi-Fi analytics market during the forecast period. Nowadays, retail stores have started measuring consumer behavioral patterns in detail and in real time, which is helping the businesses implement the best practices to boost sales. Wi-Fi analytics solutions can map how customers behave inside the venue, the patterns they create when roaming around, where they spend most of their time, areas that capture interest, and other aspects. By collecting and analyzing the patterns that customers commonly follow, the businesses can make changes to the store layout, based on customers’ demand and behavior.

Based on application, the Wi-Fi analytics market was dominated by Wi-Fi presence analytics during the historical period (2014–2019). Presence analytics offers real-time data and reporting of customers using Wi-Fi networks. The information collected through this includes the data of first-time visitors, repeat visitors, dwell time, and physical location. This information gives businesses an unprecedented level of insight on consumer behavior and opportunities to engage with customers directly.

Geographically, Asia-Pacific (APAC) is projected to attain the fastest growth in the Wi-Fi analytics market during the forecast period. The growing penetration of smart devices in the region, coupled with the rapid adoption of the Wi-Fi analytics technology in several retail stores and restaurants, is driving the growth of the regional market. Furthermore, as part of their growth strategies, multiple solution vendors are focusing on partnerships, facility expansions, and mergers and acquisitions, in order to widen their geographical reach. Such factors are driving the growth of the region in the global market.

Client Wins Are Strongest Strategic Measure Taken by Players in Market

Players in the Wi-Fi analytics market are taking several strategic measures, in order to expand their market share, of which client wins is the strongest one. For instance, in December 2019, Skyfii Limited announced that the company has signed a new contract with an Australian Property Trust, ISPT Pty Ltd., a developer of and investor in retail, commercial, warehousing, logistics, and residential properties in Australia. The agreement includes the deployment of Skyfii Limited’s IO Connect, which is a guest Wi-Fi network, and IO Insight, a data analytics service, across 31 commercial office towers and retail shopping centers across the country. This will assist ISPT Pty Ltd. in generating rich customer profiles and insights, to drive asset performance.

Similarly, in June 2019, Skyfii Limited announced that the company has signed a contract to work with Sydney Cricket & Sports Grounds at the Sydney Cricket Ground (SCG). The contract included the deployment of IO Platform services, such as IO Connect (data collection) and IO Insight (data analytics), across the SCG. The platform will provide a captive portal solution to the SCG, in order to engage with customers who use the available guest Wi-Fi network. Furthermore, IO Insight will act as a critical venue management tool that will enable the SCG to measure patron experience, including travel patterns in the stadium, visitor frequency, and impact of weather conditions on stadium utilization. It will help the SCG management take improved operational, marketing, and staffing decisions.

Browse report overview with detailed TOC on "Wi-Fi Analytics Market Research Report: By Component (Solutions, Services), Application (Wi-Fi Presence Analytics, Wi-Fi Marketing Analytics), Deployment (On-Premises, Cloud), End Use (Smart Infrastructure, Retail, Hospitality, Sports and Entertainment, Transportation, Healthcare) - Global Industry Analysis and Growth Forecast to 2030" at:https://www.psmarketresearch.com/market-analysis/wifi-analytics-market-report

Some of the major players operating in the global Wi-Fi analytics market are Skyfii Limited, Purple Wifi Ltd., Cloud4Wi Inc., Cisco Systems Inc., GoZone WiFi LLC, Yelp Inc., Blix Traffic, Aruba Networks Inc., Fortinet Inc., Bloom Intelligence LLC, Soft Emirates, Presence Aware Tech Ltd., Singapore Telecommunications Ltd. (Singtel), Ruckus Networks (an Arris Company), Juniper Networks Inc. (Mist), Aislelabs Inc., SO Connect BV, Locarise Inc., Omnia Information Pvt. Ltd. (i2e1), and FGTECH INNOVATIONS LLP (FreeG WiFi).