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 increasing use of smart devices, understanding customers’ expectations, and refining the marketing strategy to increase the sales.
Smart infrastructure is expected to account for the largest market size during the forecast period
Smart infrastructure helps overcome the challenges faced by many cities such as energy management, public transport, and security. This has become possible because of the collection and analysis of accurate data form various sources. To measure such data, smart tools are preferred, and many times, these tools are connected through Wi-Fi. The use of Wi-Fi has increased over the period due to the availability of smart devices and tools that need access to the internet in order to communicate with each other or to perform desired functions. Two companies working in the telecom sector in Singapore, M1 and Infocomm Development Authority (IDA), teamed up to provide Wi-Fi to Singapore’s bus users with green Wi-Fi service.
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Solutions segment to constitute a larger market size during the forecast period
The solutions segment outperforms the services segment and would see maturation in the future due to the higher adoption of solutions. These solutions cater particularly to retail stores, hotels, restaurant, and other places pulling venues for analyzing footfall analytics, customer engagement, customer experience management, customer behavior analytics, and customer loyalty management, among others. Moreover, with social Wi-Fi, gaining market traction, businesses can deliver a seamless and personalized consumer experience and retain more customers via omnichannel sales approaches, to gain a competitive advantage.
Major global vendors offering Wi-Fi analytics 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 (US), Wefi (US), MetTel (US), WhoFi (US), Presence Aware Tech Ltd (UK), and Bloom Intelligence (US).
These players have executed different growth strategies to expand their global presence and increase their market shares. New product launches and upgradations; and partnerships, agreements, and collaborations, have been the major strategies adopted by the key players, which helped them innovate their offerings and expand their reach.
Purple (UK) provides an in-depth understanding of physical space and enables the user to take meaningful actions based on responses of the visitors in the premise. The company has a presence in North America, South America, Europe, and APAC. It offers services in segments, such as Guest Wi-Fi, Wi-Fi analytics, and Wi-Fi marketing. In Guest Wi-Fi, it helps the customer connect to the Wi-Fi using social media profile; provides family friendly Wi-Fi; controls the access based on time, date, and speed; provides multilingual experience to the visitors; and maintains complete transparency with the user about the data collected. In Wi-Fi analytics, it shares a wide range of reports, enables to query data as per the needs, and helps optimize the physical space using location analytics and proximity marketing. It caters to businesses, such as transport hubs, retails, stadium and entertainment, restaurants, coffee shops, hotels, towns, small cities, and banks.
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SpotOn (Netherlands) founded in 2014 offers products that include Guest Wi-Fi, Analytics, and Marketing. In Guest Wi-Fi, the user can control the way visitors use the Wi-Fi in terms of time spent, data usage, and speed per user. In analytics, it helps gather personal details, demographic details, and visitor’s behavior in the premise to optimize marketing strategies, online reputation, and customer retention. It also offers all-in-one dashboard with easy to use interface and detailed reports. In marketing, it helps the store owner advertise new offers and deals before the visitor logs-in. With the help of marketing strategies the organizations can target their customers through personalized messages, texts, and emails can be triggered based on the demographic, personal details.
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