Wi-Fi Analytics Market

Industry Overview

The global wi-fi analytics market size is expected to grow to USD 12.53 billion by 2030 from its current estimate of USD 4.89 billion in 2024 with a CAGR of about 20.26% during the forecast period. Wi-Fi analytics is mainly used to gather necessary information. such as the location of a specific user. It is usually done on the time spent and the order of visits. This practice is increasing with each passing day with businesses wanting to know more about their customers, which is, in turn, driving the growth of the global wi-fi analytics market. With such information in hand, companies can now target specific customers to grow their customer base and create a better impression in their minds through their promotions and events. This helps them to revitalize their brand, make better and more productive decisions regarding the physical space, and increase their revenue.

Furthermore, the rising popularity of wi-fi analytics in specific areas such as hospitality is also helping the global wi-fi analytics market to grow significantly, which will be even at a much faster rate during the forecast period.

Also, other factors influence the growth of the global wi-fi analytics market such as extensive use of mobile phones, internet proliferation, increased deployment of public wi-fi, higher investments, and greater use of big data analytics.

Today, public places, shopping complexes, offices, transport hubs, and even trains and cars have wi-fi onboard, which is expected to be the new normal in the forecast period offering greater customer satisfaction and propelling growth of the global wi-fi analytics market. 

Market Segmentation

Insight by Location Type

According to the location type, there are two categories into which the global wi-fi analytics market can be divided namely, outdoor and indoor.

Among these two segments, there will be a much faster growth of the outdoor location during the forecast period due to the inscribing tags put on different products by the business organizations that help them determine the location of the customers. Moreover, with such tracking ability and practice, the businesses can also determine the satisfaction level of the customers which helps them further to design and develop a product layout.

Insight by Component

Depending on the components, the global wi-fi analytics market can be divided into two segments namely, solutions and services.

Here, the services market is further subdivided into professional services and managed services. On the other hand, the solutions category is further divided into wi-fi-based location analytics and indoor positioning systems solutions. Out of these two segments, it is the wi-fi analytics solutions segment that is expected to grow more and generate more revenue during the forecast period. This is because it mainly uses a wireless network to provide necessary information to the providers about the visitors.

In addition to that, these specific services also provide detailed insights about the visitors that help them to make more effective and useful decisions that will help in their business operations.

Insight by Deployment Type

According to the deployment type, the global wi-fi analytics market can be divided into two heads, such as on-premises and cloud-based.

Out of these two segments, the cloud-based segment is expected to grow at a faster rate during the forecast period because it helps businesses a great deal in solving encoding and compatibility issues. In addition to that, the cloud-based systems also help them to develop a larger database that facilitates enhancing the usefulness of business operations.

Insight by Application

Based on the diverse application types, the global wi-fi analytics market can be divided into customer loyalty management, customer engagement, customer experience management, customer behavior analytics, and footfall analytics. Among all these segments, it is the customer experience management segment that is expected to grow faster during the forecast period. This is due to the rising adoption of wi-fi analytics by business organizations to know their customers in a better way.

Furthermore, it also helps them to use the data regarding their buying habits to search for the product and provide visibility of them on their online stores. It also helps them at the time of checkout. All of these offer higher customer satisfaction and enable businesses to make better marketing decisions, which, in turn, help them to increase their revenue.

Insight by Industry

Based on the industry the wi-fi analytics market is segmented into sports, retail, healthcare, hospitality, transportation, leisure and others are the segments the global wi-fi analytics market can be divided into based on the industry verticals.

Out of all these segments, the retail sector is expected to grow faster during the forecast period since these brick-and-mortar stores use location-based services extensively to endorse their products. Moreover, a lot of large-scale retail businesses, such as cafes, restaurants, and hotels use wi-fi marketing strategies to grow their market base.

Global Wi-Fi Analytics Market Report Coverage

Industry Dynamics

Industry Trends

The global wi-fi analytics market is seen to use IoT and big data across different industries. There is also an increased use of the internet and wi-fi among the customers. The developed and developing countries today are increasingly dependent on wi-fi facilities. With all these practices followed, customers today have a consistently growing expectation for better services of faster connectivity and better internet services.

Also, the extensive use of big data analytics among businesses helps them to analyze trends based on their insight gained regarding the purchasing patterns of the customers. Apart from that, historical association analysis also helps them further optimize customer experience and offer a satisfactory buying process. All these trends have a clear positive impact on the growth of the global wi-fi analytics market internet services. 

Moreover, big data analytics deployment in business organizations provides purchasing behavior of the customers and helps in generating trend analysis along with historical associations which further helps in optimizing user experience and making their buying process satisfactory. These trends are thus enhancing the growth of the wi-fi analytics market worldwide.

Growth Drivers

One of the most significant growth drivers of the global wi-fi analytics market growing competition among e-commerce sites. Also, a large number of initiatives have been taken by the government for several smart city projects. In addition, a large number of retail businesses are now using and relying more on big data analytics just like the hospitality industries. The insights gained into customer behavior help them to customize experiences, develop better marketing campaigns, and increase customer loyalty and trust. Since these companies are growing at a rapid rate worldwide, they are pushing the global wi-fi analytics market along with them northward.

In the past couple of years, the need for location-based services has increased and will continue to grow in the forecast period. Wi-fi analytics and increased use of mobile gadgets and apps play a significant role in asset tracking, targeted marketing, indoor navigation, and determining the real-time location of customers. The need for wi-fi- analytics solutions has also increased due to extensive IoT applications in smart cities. A stable internet connection and wi-fi networks are needed to collect data from different sensors and IoT devices. Such networks are effectively managed by wi-fi analytics and ensure well-organized data processing.

Technological advancements and development in the fields of machine learning, AI, and data analytics have improved the performance and abilities of wi-fi analytics. Users can now extract useful insights in real-time, irrespective of the data volumes, to identify trends, forecast customer behavior, and automate the decision-making processes due to wi-fi analytics.

All these are also contributing to the growth of the global wi-fi analytics market.

Challenges

Growing data privacy and security concerns, stringent government policies and laws, absence of a standard regulatory framework, will hinder the growth of the global wi-fi analytics market to some extent. However, extensive use of mobile-connected smart devices or the Internet of Things will offer lucrative opportunities for growth in the forecast period.

Though there was a market slump after COVID-19, innovative solutions, smartphone penetration, and extensive use of the internet did not allow the market to crash completely. With several end-user sectors reopening the market has overcome the challenges then and now.

Industry Ecosystem

The major players of the industry all over the globe now have a much more improved network and wireless connectivity that help them offer better service to their customers. They have also developed novel learning capabilities and launched new products to leverage the global wi-fi analytics market across the globe and ensure its growth.

Geographic Overview

Based on the different regions of the global wi-fi analytics market, North America is the largest contributor to it. This is mainly due to the increased adoption of wi-fi and big data analytics by a large number of businesses in this region and the increasing investments in the latest technologies.

On the flip side, the global wi-fi analytics market in the Asia-Pacific countries is also expected to grow at a reasonably fast rate during the forecast period due to higher adoption of wi-fi analytics and more penetration of smart devices. The retail stores and restaurants in these regions will be the larger contributor to the global wi-fi analytics market due to their growing need for wi-fi-based asset tracking systems.

Competitive Insight

Increasing activities related to research and development, efficient product positioning amongst the customers along with enhanced infrastructural facilities in several companies are the factors leveraging the growth of the wi-fi analytics market across the globe. The market structure for the Wi-Fi analytics market is a consolidated structure and the key players operating in the global Wi-Fi market include Purple, Zebra Technologies, Skyfii, Fortinet, Yelp, Euclid, Ruckus Wireless, July Systems, and Cloud4wi.

Recent developments by Key Players

Zebra Technologies has launched new sustainability partner recognition program globally. This initiative shall support greener outcomes for customers through digitization and automation, from reducing food waste to lowering vehicle emissions.

Euclid, analytics provider has is launchaed no-hardware solution Euclid Zero for brick and mortar shops to monitor customer behaviour and make better decisions about things like window displays and store layout. This service shall allow shopping centres, retailers and venues to measure behaviour inside establishments using the existing wireless infrastructure.

Fortinet Inc. has introduced a new artificial intelligence features designed for the companies to manage their network infrastructure, detect cybersecurity issues and fix them with more ease.