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(Wireless-NewsWire.Com, May 24, 2018 ) The Wi-Fi analytics market is expected to grow from USD 2.94 Billion in 2017 to USD 10.72 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 29.54% during the forecast period. Several factors such as the rising competition between online and offline retail businesses, increasing significance of data analytics in brick-and-mortar businesses, and penetration of mobile devices are driving the market growth. The adoption of Wi-Fi analytics solutions and services is high in the verticals, such as retail, hospitality, sports and leisure, and healthcare; this as boosted the growth of the market.
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The global Wi-Fi analytics market is segmented by component (solutions and services), application (footfall analytics, customer engagement, Customer Experience Management (CEM), customer behaviour analytics, and customer loyalty management), location type (indoor location and outdoor location), deployment type (on-premises and cloud), vertical, and region. The services component is expected to grow at a higher CAGR during the forecast period, as these services help organizations in easily deploying the software, either on-premises or on the cloud.
The retail vertical is expected to have the largest market share and is projected to grow at the highest CAGR during the forecast period. More and more brick-and-mortar businesses across various verticals, such as retail, hospitality, sport and leisure, healthcare, and transportation, are deploying guest Wi-Fi to provide free internet connectivity to their customers. The gap between online and offline retail is driving the recent boom of technological innovations in customer analytics in brick-and-mortar retail stores. With the power of big data and in-store marketing analytics, retailers can capture real-time data of their customers’ traffic patterns and gain insights to measure the effectiveness of their marketing campaigns and merchandising. This information helps them offer customers a better experience through location-based marketing, to proactively influence customers and drive the in-store sales. Therefore, businesses have started leveraging the power of Wi-Fi for customer analytics in the physical venues, thereby boosting customer engagement.
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The global Wi-Fi analytics market has been segmented on the basis of regions into North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America to provide a region-specific analysis in the report. North America is expected to have the largest market share and is projected to dominate the market during the forecast period. Businesses in the North American region are rapidly adopting emerging trends in internet connectivity to provide several services, such as offering public Wi-Fi to the visitors. Due to this, companies are willingly investing in the North American region. Most Wi-Fi analytics solutions and services vendors have an eminent presence in the North American region, and therefore, the competition is stiff among the major market players.
The major vendors who offer Wi-Fi analytics solutions and services across the globe are Cisco Systems (US), July Systems (US), Skyfii (Australia), Zebra Technologies (US), Fortinet (US), Ruckus Wireless (US), Purple (England), Cloud4Wi (US), Euclid (US) and Yelp (US), whereas the key innovators include Walkbase (Finland), Weblib (France), and Aptilo Networks (Sweden). These vendors have adopted various organic and inorganic growth strategies, such as new product launches, partnerships, and collaborations, to enhance their position in the Wi-Fi analytics market.
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