Market Trends of Wi-Fi Analytics Industry
Market Analytics Segment is Analyzed to Witness Significant Growth
- The market analytics segment is analyzed to witness significant growth in the coming years. The application of Wi-Fi analytics in market analytics is growing largely due to growing emphasis of businesses to understand their audience, and turn data into actionable insights. With wifi analytics, a user can identify which devices or applications are consuming the most bandwidth and make decisions on how to allocate bandwidth to students and programs, and at the same time, ensure appropriate service levels elsewhere.
- Moreover, the increasing use of smartphones and smart devices, coupled with the growing internet penetration, is driving the application of wifi analytics in the market analytic. This increase in the use of mobile devices is also increasing the number of Wi-Fi users.
- For instance, according to Cisco Systems, Globally, the total number of mobile subscribers is expected to increase by 2% every year, from 5.1 billion in 2018 to 5.7 billion in 2023. In terms of population, it accounted for 66% of the global population in 2018 and 71% of the global population penetration in the current year.
- And also, In 2023, mobile Wi-Fi speeds tripled. Globally, average Wi-Fi speeds are expected to increase from 30.3 Mbps in 2018 to 92 Mbps in 2023. Wi-Fi hotspots are more than doubled in the past three years. By 2023, there are approximately 628 million public Wi-Fi hotspots globally, up from 169 million in 2018. Wi-Fi6 hotspots will increase more than triple from the past three years, accounting for 11% of all public Wi-Fi hotspots by the end of the current year.
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North America is Expected to Register the Largest Market
- The strong financial position of the region enabled organizations to invest in advanced solutions and technologies, such as IoT and big data analytics. The presence of multiple major Wi-Fi analytics vendors, such as Cisco Systems (US), Zebra Technologies (US), Fortinet (US), and Ruckus Wireless (US), have enabled the region to draw a significant share.
- Using this feature to their advantage, many retailers, restaurants, and hotels offer public hotspot point to attract customers, through which the Wi-Fi hotspot gather information about the user behavior, time spent, etc., and can use for supporting the business.
- As more smartphones connect, retailers can provide more products and services based on customers' interests. Henceforth, the increasing penetration of smartphone users is positively impacting the retail market, which is, in turn, increasing the market's growth.
- Over the past few years, increased consumer spending across regions has driven the demand for smartphones. However, the market's growth is plateauing, considering the intense penetration levels. According to Cisco Systems, the North American Wi-Fi connection speeds originating from dual-mode mobile devices is doubled in the current year. The average Wi-Fi network connection speed was 46.9 Mbps in 2018 and exceeded 109.5 Mbps and North America is experiencing the largest Wi-Fi speeds with 18% of CAGR from 2018 to 2023.
- According to GSMA, the number of smartphone subscribers in North America is expected to reach 328 million by 2025. Moreover, by 2025, the region may witness an increase in the penetration rates of mobile subscribers (86%) and the Internet (80%). The increasing usage of the Internet has enabled the growth of public Wi-Fi installments. As the Internet speed through Wi-Fi is faster than that of mobile data, most users prefer Wi-Fi hotspots.
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