DUBLIN--(BUSINESS WIRE)--The "WiFi as a Service Market by Service (Professional Services and Managed Services), Solution, Organization Size (Small and Medium Enterprises and Large Enterprises), Location Type (Indoor and Outdoor), Vertical, Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global WaaS market is projected to grow USD 3.39 billion in 2018 to USD 8.36 billion by 2025, at a CAGR 19.8% from 2020 to 2025.
Reduction in the cost of ownership of WiFi infrastructure for organizations is driving the overall growth of the WiFi as a service market.
Reduction in the cost of ownership of WiFi infrastructure for organizations, development of smart cities, and increased demand for high-speed and widespread network coverage are factors fueling the growth of the market across the globe. However, cloud connectivity failure and data security issues are expected to hinder the growth of the WiFi as a service market during the forecast period.
Based on service, the managed services segment is expected to lead the WiFi as a service market from 2020 to 2025.
The managed services segment is estimated to account for a larger share of WiFi as a service market as compared to the professional services segment from 2020 to 2025. Enterprises opt for managed services to overcome the challenges of budget constraints and technical expertise as managed service providers have skilled human resources, infrastructure, and industry certifications. They offer services to monitor and manage hardware devices and manage the availability and performance of networks. They also ensure smooth operations and security of networks.
Based on organization size, the small and medium enterprises segment of the WiFi as a service market is projected to grow at a higher rate than the large enterprises segment during the forecast period.
The small and medium enterprises segment of the WiFi as a service market is projected to grow at a higher rate than the large enterprise segment from 2020 to 2025. Maximum productivity and reduced operational costs are the crucial factors for small and medium enterprises as they have limited budgets. Small and medium enterprises face several challenges in terms of capital, skills, scalability, and management control. Hence, these organizations require cost-effective solutions that can help them optimize their business processes. This leads to an increased demand for WiFi as a service from small and medium enterprises operating in the retail, education, travel and hospitality, and healthcare and life sciences verticals across the globe.
The Asia Pacific WiFi as a service market is projected to grow at the highest CAGR from 2020 to 2025.
The Asia Pacific WiFi as a service market is projected to grow at the highest CAGR during the forecast period. The growth of the market in this region can be attributed to the ongoing digitalization in various industries such as retail, education, and transportation and logistics and increased requirement for managed IT services in the region. Moreover, as broadband and mobile infrastructures are improving in the Asia Pacific region, the mobile workforce and BYOD trends are also gaining momentum. These trends in the Asia Pacific region are also leading to the increased adoption of WiFi technology, which is expected to fuel the growth of the Asia Pacific WiFi as a service market.
- Reduction in the Cost of Ownership of Infrastructure for Organizations
- Increased Demand for High-Speed and Widespread Network Coverage
- Ease of WiFi Infrastructure Management and Its Remote Troubleshooting
- Quick Deployment of Networks and End-To-End Value Chain Visibility Offered to Organizations
- Development of Smart Cities
- Cloud Connectivity Failure and Data Security Issues
- Emergence of 802.11Ax Standard
- Increased Demand for WiFi as a Service in Small and Medium and Distributed Enterprises
- Adoption of BYOD and Increased Influx of Mobile Devices at Workplaces
- Data Security and Privacy Concerns
- Lack Skilled Personnel
- Cisco Systems
- Huawei Technologies
- Commscope Holding
- Extreme Networks
- Rogers Communications
- Telstra Corporation
- Arista Networks
- Ubiquiti Networks
- Riverbed Technology
- Edgecore Networks
- Mist Systems
- Alcatel-Lucent Enterprise (Ale) International
- Allied Telesis
- Lancom Systems
- D-Link Corporation
- Cambium Networks
- Globalreach Technology
- WiFi-Soft Solutions
- Ruijie Networks
For more information about this report visit https://www.researchandmarkets.com/r/kfkdso