Global Wi-Fi as a Service Market By Offering (Solution and Services), Location (Indoor and Outdoor), Organization Size (Large Enterprises and Small and Medium Enterprises), Vertical (Banking, Financial Services and Insurance (BFSI), Retail, Manufacturing, Transportation, Education, Healthcare, and Others), and Region - Market Share, Trend Analysis, Competitive Intelligence, Historical Data, and Forecast 2023 - 2030

Market Perspective

The global Wi-Fi as a Service Market was valued at USD 3.02 billion in 2022 and is projected to reach USD 11.85 billion by 2030, growing at a CAGR of 21.56% from 2023 to 2030.

The global Wi-Fi as a Service market has witnessed substantial growth in recent years owing to the increasing demand for seamless, high-speed internet connectivity across various sectors. Wi-Fi as a Service, or WaaS, is a model that allows users to access Wi-Fi on a subscription or pay-per-use basis. It encompasses various types of service models, including cloud-based solutions, managed services, and hybrid models, accommodating diverse consumer needs. This market caters to multiple industries such as retail, healthcare, education, hospitality, and others. The drivers for this market's growth include the proliferation of mobile devices, the growing need for IoT connectivity, and the increased reliance on remote work and digital communication, particularly accelerated by the COVID-19 pandemic.

Additionally, industry expansion is expected to be propelled by the increasing adoption of Wi-Fi as a Service, which offers cost-effectiveness and scalability advantages. Furthermore, the growing demand for extensive and high-speed network coverage, as well as the rising popularity of air-gapped services, is also fostering the product outlook.

Key Insights

• Based on offering, the solution segment acquired the largest market share in 2022
• Based on location, the outdoor segment captured the largest industry share in 2022
• Based on organization size, the large enterprises segment dominated the market in 2022
• Based on vertical, the banking, financial services and insurance (BFSI) segment captured the largest industry share in 2022
• By region, North America accounted for the largest market share in 2022

Proliferation of Mobile Devices Fuels Wi-Fi as a Service Market Growth

The proliferating adoption of mobile devices is fueling the market. With the increasing number of smartphones, tablets, and IoT gadgets, the demand for reliable, high-speed internet connectivity has skyrocketed. This surge in device usage directly correlates to the need for seamless and robust Wi-Fi services, driving Wi-Fi as a Service market development. The versatility and portability of these devices have led to an exponential increase in the requirement for accessible and high-quality Wi-Fi networks.

Concerns Pertaining to Data Security to Impede Market Growth

Prevalent concerns related to data security, privacy, and network vulnerabilities are hampering the growth of the Wi-Fi as a Service market. Issues surrounding data breaches, hacking threats, and privacy regulations have instilled a level of caution among businesses and consumers. As a result, ensuring robust security features within Wi-Fi as a service solution has become a critical factor fueling market progress and wider product adoption.

Recent Development

November 2022: Superloop announced an extended partnership with Palo Alto Networks, a leading global provider of cybersecurity solutions. Through this agreement, Superloop was able to provide its customers with Palo Alto Networks' advanced Prisma SASE solutions as part of its comprehensive integrated security services.

Segmentation Analysis

Based on offering, the Wi-Fi as a Service market is categorized into solution and services. The solution segment dominated the market with a share in 2022 on account of its comprehensive offerings. Wi-Fi solutions encompass hardware, software, and services tailored to meet diverse connectivity needs. This dominance reflects the increasing demand for integrated solutions providing end-to-end Wi-Fi infrastructure, management, and support, driving market growth and innovation.

Based on location, the market is categorized into indoor and outdoor. The outdoor segment garnered the highest revenue in 2022 due to the rising demand for public Wi-Fi access points and outdoor connectivity solutions. The proliferation of smart cities, outdoor events, and public spaces, and the need for seamless connectivity while on the move are significant factors driving the growth of outdoor Wi-Fi. The increased usage of mobile devices and IoT gadgets in outdoor settings, is also prompting the need for robust, reliable, and high-speed outdoor Wi-Fi solutions, thereby propelling segment expansion.

Based on vertical, the Wi-Fi as a Service market is categorized into banking, financial services and insurance (BFSI), retail, manufacturing, transportation, education, healthcare, and others. The banking, financial services and insurance (BFSI) segment is anticipated to witness the highest growth over the forecast period  fueled by the critical reliance of these sectors on secure, stable, and robust network connectivity. The BFSI sector demands high levels of data security, uninterrupted connectivity for financial transactions, and seamless operations. Widespread adoption of solutions tailored to meet the stringent security and connectivity needs of the BFSI sector is aiding the revenue growth of the segment.

North America Dominates Global Industry With Early Adoption of Solutions

North America dominated the market with the highest valuation in 2022 due to its early adoption of WaaS solutions, coupled with continuous technological advancements. The region's tech-savvy population and a high level of digitization across various sectors have led to a significant demand for reliable Wi-Fi services. Moreover, the presence of key market players, innovative technologies, and substantial investments in infrastructure and R&D contributed to North America's dominance in the global Wi-Fi as a Service market.

Asia Pacific is Anticipated to Witness the Highest Growth over the Forecast Period Owing to Rapid Digitalization and Emerging Markets

Asia-Pacific is estimated to register a CAGR between 2023 and 2030  due to rapid digitalization and the emergence of diverse markets. The region has witnessed substantial growth in digital transformation, increasing smartphone and IoT device penetration, and the rise of e-commerce. The presence of emerging economies in Asia-Pacific, as well as the adoption of new technologies in sectors viz., manufacturing, healthcare, and retail, is boosting the demand for Wi-Fi as a Service, thereby impelling market expansion.

Competitive Landscape

The global Wi-Fi as a Service market is fragmented with key players such as Juniper Networks Inc., Cisco System Inc., Hewlett Packard Enterprise Development LP, Extreme Networks, Huawei Technologies Co. Ltd., Fortinet, Ruckus Networks, Arista Networks, Dell Technologies, Rogers Communication, Commscope, Cambium Networks, Ltd., and Superloop Limited, among others. Companies are employing a variety of strategic measures such as acquisitions, mergers, partnerships, product innovation, and collaborations to expand their business globally and enhance their competitive position

The global Wi-Fi As A Service Market is segmented as follows:

By Offering

• Solution
• Services

By Location

• Indoor
• Outdoor

By Organization Size

• Large Enterprises
• Small and Medium Enterprises

By Vertical

• Banking, Financial Services and Insurance (BFSI)
• Retail
• Manufacturing
• Transportation
• Education
• Healthcare
• Others

By Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • France
  • UK
  • Spain
  • Germany
  • Italy
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia Pacific
• Middle East & Africa
  • GCC
  • North Africa
  • South Africa
  • Rest of Middle East & Africa
• Latin America
  • Brazil
  • Argentina
    • Rest of Latin America