WiFi analytics refers to the data captured through the different WiFi access points that is then used for analyzing, informing, and improving the physical layouts, business operations, and marketing strategies
There are mainly two types of data captured through the access points— marketing analytics and presence analytics. A major factor propelling the demand for WiFi analytics solutions is the increasing number of smartphone users across the globe.
As per the studies of the GSM Association, the total number of mobile users accounted for almost 67% of the global population at the end of 2019
The studies further say that “the total number of mobile phone users in the world would increase from 5.2 billion to 5.8 billion from the end of 2019 to 2025”. Out of all these mobile phone users, “nearly 65% were smartphone users in 2019”. This share will rise to almost 80% by 2025. The increasing utilization of smartphones and various other internet-enabled systems is boosting the demand for WiFi hotspots all over the world. As a result, there will be a fourfold rise in the number of public WIFi hotspots over the next few years.
Furthermore, the rapid technological advancements and improvements in the WiFi standards will lead to the development of dense platforms having multiple concurrently connecting systems and IoT (internet of things) connections such as hospitals, airports, and various public transportation areas, which will, in turn, propel the demand for real time data analysis. As a result, the global Wi-Fi analytics market will grow, in valuation, from $5,210.0 million to $52,975.5 million from 2019 to 2030. P&S Intelligence, a market research company, predicts a CAGR of 24.2% in the market from 2020 to 2030.
Increasing Adoption of Social Media for Customer Engagement Is Observed as Key Trend of Wi-Fi Analytics Market
Wi-Fi presence and Wi-Fi marketing analytics are two main application areas of the Wi-Fi analytics solutions. Between the two, the adoption of the Wi-Fi presence analytics solutions was observed to be higher in the past few years. This is ascribed to the fact that the presence analytics solutions offer real-time data as well as reporting of customers using the Wi-Fi networks. The data collected through this method includes information related to repeat visitors, physical location, dwell time, and first-time visitors, which gives businesses insight into customer behavior.
Geographically, the Asia-Pacific (APAC) Wi-Fi analytics market is predicted to demonstrate the fastest growth in the years to come. In the APAC region, China is currently observing the highest adoption of Wi-Fi analytics solutions, mainly because of the fact that the latest technological advancements and innovations are adopted early in the country as compared to the other APAC nations and the presence of a large internet using and smartphone operating population in the country.
Thus, owing to the mushrooming utilization of Wi-Fi in business operations because of the rising internet connectivity, the demand for Wi-Fi analytics will skyrocket across the world in the future years.
About the Author
Devanshu Shrivastava is an internationally-recognized technology research analyst, consultant, and blogger.
Featured image: ©Peshkova
