Wi-Fi as a Service Market Size, Share, Growth Analysis, By Type(Managed Service and Professional Service), By Verticals(Retail, healthcare) - Industry Forecast 2024-2031

Global Wi-Fi As A Service Market size was valued at USD 5.9 Billion in 2022 and is expected to grow from USD 7.17 Billion in 2023 to reach USD 34.04 Billion by 2031, at a CAGR of 21.50% during the forecast period (2024-2031). 

The adoption of WaaS is on the rise due to its affordability and scalability, making it an attractive option for businesses. Moreover, the demand for extensive and high-speed network coverage is growing, leading to increased deployment of WaaS. Another contributing factor is the rising popularity of air-gapped services, further propelling the market expansion. Multiple sectors, including BFSI, manufacturing, retail, and transportation & logistics, are witnessing the widespread deployment of public Wi-Fi networks, positively impacting the growth of the WaaS market. Technological advancements and the preference for cloud-managed Wi-Fi services are also driving the industry's rapid development. Organizations are increasingly embracing Wi-Fi managed services because of their cost efficiency, short life cycle, and flexibility for future updates.

Wi-Fi as a Service is a cloud-based subscription model that offers end-to-end Wi-Fi solutions, including automatic system upgrades, access points, and a cloud-native management/control plane. It encompasses infrastructure, software, and managed services, empowering businesses and organizations with reliable, secure, and fast wireless local area network (WLAN) access across multiple locations. By leveraging WaaS, users gain real-time network monitoring and access to historical and real-time data on Wi-Fi network usage.

This solution is particularly beneficial for smaller businesses, office relocations, and temporary locations, as it can be managed through a network operating center, ensuring fast and reliable data network connectivity. WaaS also provides enhanced security measures for bring your own device (BYOD) technology. It enables limited network access for non-network devices, allowing vendors to assist users in managing network access parameters, revoke device privileges, and remotely erase data from selected devices. Managed Wi-Fi services replace vulnerable consumer-grade systems with robust hardware and efficient services, offering improved scalability, stability, and additional security features. As a result, the growing trend of BYOD technology and the increasing presence of internet-connected devices in IT institutions and organizations are driving the growth of the Wi-Fi market.

US Wi-Fi As A Service Market is poised to grow at sustainable CAGR for the next forecast year.