Global Managed Wi-Fi Solutions Market Set For 15.3% Growth, Reaching $11.52 Billion By 2028
Managed Wi-Fi Solutions Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033
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What is the current state of the managed Wi-Fi solutions market?2
The managed Wi-Fi solutions market size has grown rapidly in recent years. It will grow from $5.66 billion in 2023 to $6.52 billion in 2024 at a compound annual growth rate CAGR of 15.2%. The growth in the historic period can be attributed to the need for network performance optimization, growing regulatory requirements for data protection and network security, growth in public wi-fi deployment, and increasing digital transformation.
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What is the projected market size and growth rate of the managed Wi-Fi solutions market?
The managed Wi-Fi solutions market size is expected to see rapid growth in the next few years. It will grow to $11.52 billion in 2028 at a compound annual growth rate CAGR of 15.3%. The growth in the forecast period can be attributed to increased demand for high-speed internet, a growing number of connected devices, proliferation of Internet of Things IoT devices, increasing adoption of cloud-based services, and increasing mobile payment adoption. Major trends in the forecast period include advancements in wi-fi technology, integration with smart building systems, rollout of 5G technology and its integration, sustainable technology solutions, and integration of AI and machine learning.
What are the key drivers influencing the growth of the managed Wi-Fi solutions market?
The increasing demand for high-speed internet connectivity is expected to propel the growth of the managed Wi-Fi solutions market going forward. High-speed internet connectivity refers to internet connections that offer faster download and upload speeds than traditional dial-up connections. The demand for high-speed internet connectivity is increasing due to the growing reliance on digital services, streaming, remote work, and the expansion of smart technologies. Managed Wi-Fi solutions enhance high-speed internet connectivity by providing optimized network performance, seamless coverage, and efficient management for consistent and reliable access. For instance, in March 2023, according to the Office of Communications Ofcom, a UK-based government agency, the average download speed for home broadband connections in the UK was 65.3 Mbit/s, an increase of 10% compared to March 2022. Therefore, the growing demand for high-speed internet connectivity will drive the growth of the managed Wi-Fi solutions market.
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Who are the key industry players in the managed Wi-Fi solutions market?
Major companies operating in the managed Wi-Fi solutions market are Verizon Communications Inc., Comcast Business, AT&T Inc., Vodafone Group Plc, Fujitsu Limited, Infineon Technologies AG, Rogers Communications Inc., Reliance Jio Infocomm Limited, Arista Networks Inc., Atria Convergence Technologies, Tata Communications Limited, Ruckus Wireless, Bharti Airtel Limited, Telesystem, Connectivity Wireless, bSimplify., LM Technologies Ltd, LG Networks Inc., Wroffy Technologies Pvt Ltd, Purple, Signellent Technologies India Pvt. Ltd.
What are the emerging trends in the Managed Wi-Fi solutions market?3
Companies in the market are focusing on developing advanced solutions, such as automation platforms. An automation platform is designed to automate repetitive tasks and processes within an organization. It integrates various tools and technologies to streamline workflows, enhance efficiency, and reduce manual intervention. For instance, in March 2024, Airties, a France-based provider of managed Wi-Fi solutions, launched Orbit, a continuous test automation platform. This platform simplifies the integration and deployment of smart Wi-Fi technologies for broadband service providers, equipment manufacturers, and chip suppliers.
How is the global managed Wi-Fi solutions market segmented?
The managed Wi-Fi solutions market is categorized as follows:
1 By Component: Solutions, Services
2 By Networking Services: Network Auditing And Testing, Network Consulting, Configuration And Change Management, Network Security, Network Planning And Designing
3 By Infrastructure Services: Survey And Analysis, Installation And Provisioning, Wireless Infrastructure Maintenance And Management, System Integration And Upgradation, Training And Support
4 By Industry Vertical: Information Technology IT And Telecommunications, Retail, Banking, Financial Services, And Insurance, Government And Public Sector, Healthcare, Transportation, Logistics, And Hospitality, Other Industry Verticals
Which region experienced the highest growth in the managed Wi-Fi solutions market?
North America held the largest share in the managed Wi-Fi solutions market in 2023. The encompassed regions in the managed Wi-Fi solutions market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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