Wi-Fi (Wireless Fidelity) is a technology that uses radio waves to provide network connectivity. Wi-Fi offers flexibility, mobility, and fast speed for devices. Wi-Fi is a highly cost effective technology with low power consumptions and high bandwidth.
It is extensively used in Wi-Fi enabled devices such as computers, laptops, notebooks, mobile and others. Wi-Fi analytics provides demographics of users such as gender, age, location, and length of internet. It is possible for an organization to use information to provide better strategies for its business. This information helps enterprise to offer better customer experience through location-based marketing, to attract new customers. This enhances customer engagement in business.
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The driving factor for the global Wi-Fi analytics market is penetration of smartphone devices. Moreover, the increase in smart city initiatives by governments is expected to boost the market growth. More services are being accessed and provided online with Wi-Fi analytics. Wi-Fi analytics provide secure connectivity for IoT (internet of things) applications such as smart homes, smart city, waste management etc. Increase in significance of data analytics in business is a key factor driving the Wi-Fi analytics market.
Data analytics is required in business to consumer (B to C) applications to enhance productivity and business gain. Additionally, increasing product innovation and integration of additional functions by top companies in this market further increases the demand. However, issues related to data privacy are hampering the growth of the Wi-Fi analytics market. Furthermore, government regulations and policies are restraining the growth of the market. Opportunities for the global Wi-Fi analytics market include adoption of IoT (Internet of things) across organizations.
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The global Wi-Fi analytics market is segmented on the basis of component, application, deployment type, end use vertical, location type, and geography. Based on component, the market is categorized into services and solutions. The service component segment is estimated to expand at a higher rate during the forecast period.
This is due to growing impact of customer analytics in retail businesses. On the basis of application the Wi-Fi analytics market is segmented into customer loyalty management, footfall analytics, customer engagement, and customer analytics. On the basis of deployment type, the market is be segmented into cloud based deployment and on premise.
In terms of end use vertical, the global Wi-Fi analytics market is sectioned into hospitality, transportation, healthcare, retail, government, education and others. It is expected that the retail segment will grow at a rapid rate due to the rise in usage of online marketing analytics to monitor customer navigation data. The global Wi-Fi analytics market is divided on the basis of location type into indoor location and outdoor location.