Wi-Fi Analytics Market Expected to Reach $31.01 Billion by 2026

According to a recent report published by Allied Market Research, titled, " Wi-Fi Analytics Market by Component, Deployment, Application, and Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2019-2026," the global Wi-Fi analytics market was valued at $5.64 billion in 2018, and is projected to reach $31.01 billion by 2026, growing at a CAGR of 23.8% from 2019 to 2026.

Wi-Fi analytics involves the use of Wi-Fi networks for collecting data on Wi-Fi devices like smartphones and laptops and contains thorough information on the device behavior. Such device behavior information includes information from the space covered by the Wi-Fi network, and about the activity performed via the Wi-Fi network's internet connection. The adoption of Wi-Fi analytics is intended to help companies in building detailed customer profiles and to better understand customers behavior within their venue. The factors such as need to gain insights regarding customers’ behavior, analyze customer presence at business locations, trigger proximity-based marketing messages, formulate targeted marketing strategies, and proliferation of smartphone devices drive the growth of the global Wi-Fi analytics market.

The solution segment dominated the Wi-Fi analytics market share in 2018, and is projected to maintain its dominance during the forecast period. This is attributed to key benefits offered by Wi-Fi analytics solutions. Organizations are increasingly adopting Wi-Fi analytics to gain the insights about footfall at their venue and get the unassociated device data. It includes data concerning people counting, cross shopping, dwell time, bounce rate, passing traffic, and others. This solution also helps in tracking frequency of how often people return to the specific venue and at what intervals. All such data helps companies in building detailed customer profiles with the data collected. Thus, these benefits of Wi-Fi analytics solutions are expected to drive the growth of this segment during the forecast period.

Region wise, the global Wi-Fi analytics market was dominated by North America in 2018 and is expected to maintain this trend during the forecast period Presence of large number of Wi-Fi analytics vendors, continuous adoption of advanced technology for attracting customers in retail, and great awareness about targeted marketing are the major factors that drive the market in North America. In addition, extensive use of smartphones and tablets by the consumers in this region are expected to boost the growth of the Wi-Fi analytics market in North America. Continuous advancements in technology, presence of major number of Wi-Fi analytics industry vendors, and accessibility of proficient technical expertise are some of the factors responsible the growth of the market in this region. In addition, the North American companies are becoming more aware about analyzing the customer presence and behavior patterns, which is leading them to invest and implement location-based services and make use of Wi-Fi technologies. This is again creating the demand for Wi-Fi analytics solutions to gain the insights from the customers’ data collected from such Wi-Fi deployments.

Key Findings of the Study:

• Depending on component, the solution segment led the Wi-Fi analytics market size in terms of revenue in 2018.
• By deployment, the cloud segment is witnessing highest growth rate during the forecast period of 2019-2026.
• By application, Wi-Fi marketing analytics is growing with highest CAGR of 25.9% during the forecast period of 2019-2026.
• Depending on industry vertical, the sports & entertainment segment is anticipated to exhibit substantial growth during the forecast period.
• Region wise, North America generated the highest revenue in 2018; however, Asia-Pacific is anticipated to exhibit substantial growth during the Wi-Fi analytics market forecast period.
• The global Wi-Fi analytics market analysis includes some of the key market players such as SAP SE, Oracle, SAS Institute, Teradata, Tibco, Adobe, Cisco, IBM, Tableau, and Sisense.