According to new market research report "Wi-Fi Analytics Market by Component (Solutions and Services), Solution (Wi-Fi Based Location Analytics Solution, Wi-Fi Based Indoor Positioning Systems), Location Type, Application, Deployment Type, Vertical, and Region - Global Forecast to 2022", 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.
Increasing deployment of public Wi-Fi across physical venues, rising significance of big data among brick-and-mortar businesses, increasing competition among online businesses, and penetration of mobile devices are some of the major factors driving the growth of the Wi-Fi analytics market.
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“The indoor location segment is expected to have the larger market share during the forecast period.”
The need for increasing customer behavior analytics and engagement in the brick-and-mortar businesses, along with the growing competition between online and offline retail stores, plays an essential role in determining the future of the Wi-Fi analytics market in the indoor location segment. Indoor locations comprise the brick-and-mortar businesses, such as shopping malls, retail stores, hotels, Quick Service Restaurants (QSRs) and restaurants, casinos, and gyms which require effective solutions to measure the footfall traffic and engage customers, from the time they enter the store to the time they leave it.
“The retail vertical is expected to have the largest market size during the forecast period.”
The retail vertical includes brick-and-mortar shopping malls, chain stores, and retail stores. The increasing competition between in-store retail and eCommerce is acting as a threat to the brick-and-mortar stores, with the rising number of online retailers. Moreover, eCommerce businesses use online marketing analytics to monitor the customer navigation data through their websites. This data is used to yield insights and make decisions to increase the revenue. Therefore, in-store customer analytics is gaining importance among the brick-and-mortar retailers to collect the data about the customers’ buying behavior to gain insights. This can help stores offer customers a better experience and increase the turnover.
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“The rapid adoption of Wi-Fi analytics solutions and services, due to the increased deployment of public Wi-Fi in brick-and-mortar businesses is expected to make North America the largest market, in terms of the global share.”
North America consists of developed economies, such as the United States (US) and Canada. In this region, organizations are rapidly adopting and willing to invest in emerging technologies, such as big data analytics. The region’s strong financial position also enables it to invest heavily in advanced tools and technologies. These advantages have provided North American organizations a competitive edge in the market. Moreover, the region has the presence of several major Wi-Fi analytics vendors, and hence, there is a strong competition among the players. The number of enterprises adopting Wi-Fi analytics solutions and services is quite high in North America as compared to the other regions.
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). On the other hand, 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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