According to a new market research report the WaaS market size is estimated to grow USD 4.0 billion in 2021 and is projected to reach USD 10.1 billion by 2026, at a CAGR of 20.1% during the forecast period.
Rising smartphone and wireless devices adoption across the world is driving the growth of WaaS Market. The increasing number of smart devices and smartphone users represents the rising potential for Wi-Fi solutions, as the devices use Wi-Fi for better connectivity purposes. The number of mobile subscribers around the world is expected to grow significantly in the upcoming years. To reduce capital expenditure, many companies would opt for WaaS. Companies providing the WaaS model offer a subscription-based pricing model, which encourages the development of consumption-based business models and reduces the Total Cost of Ownership (TCO) of infrastructure, making the service affordable for companies of all size.
The WLAN controller segment to record the highest market share during the forecast period
In the Wi-Fi as a Service Market by Solutions, WLAN Controller segment is expected to hold the larger market size in 2026. WLAN controllers network security and next-generation hotspots for Small Office/Home Office (SOHO). These controllers offer different deployment options based on the requirements of clients, along with reducing operational costs. The rising number of Wi-Fi deployments, especially in the retail and travel and hospitality verticals, would drive the growth of the WLAN controller segment of the WaaS market.
The Managed Service segment to record the highest market share during the forecast period
In the Wi-Fi as a Service Market by Service, Managed Service segment is expected to hold the larger market size in 2026. The growing demand for cloud-based managed services and increasing requirement for improved connectivity among enterprises is leading to the growth of the WaaS market globally.
Managed services offer services to monitor and manage hardware devices and manage networks’ availability and performance. They also ensure smooth operations and security of networks, thereby increasing the adoption of managed services
Small and Medium Enterprises are expected to hold a larger market share during the forecast period
By Organisation size, Small and Medium Enterprises are expected to hold the largest market size. Maximum productivity and reduced operational costs are the crucial factors to accelerate the adoption of WaaS for Small and Medium Enterprises as they have limited budgets. Demand for WaaS from Small and Medium enterprises operating in retail, education, travel and hospitality, and healthcare and life sciences verticals is increasing globally. Wi-Fi services has enabled SMEs to access fast, reliable, and secure networking performance without the requirement for the installation or management of cable-based connectivity in their premises, which leads to the growth of the market.
Service Providers segment expected to have a higher growth rate during the forecast period
By End Users, Service Providers segment is expected to lead the Wi-Fi as a Service Market during the forecast period. The increasing demand for bandwidth from consumers and growth of internet consumption is expected to drive the growth of the WaaS model among ISPs. Telecos are adopting wireless infrastructure to boost connectivity and enable customers to connect with their network seamlessly. The telecom operators are the major revenue share contributors in the WaaS market. They have an existing enterprise customer base and have decades of experience managing network infrastructure. Followed by the telecom operators, ISPs hold a significant market share in the WaaS market.
Asia Pacific to hold the largest market size during the forecast period
Asia Pacific is expected to hold the largest market size in the global Wi-Fi as a Service Market during the forecast period. Asia Pacific has witnessed significant growth in the adoption of Wi-Fi services, and it leads the market in terms of market share. High investments in developing new technologies, such as Wi-Fi and the cloud, lower density of base stations in developing countries compared to developed countries and increasing digitalization in this region would drive the growth of Wi-Fi as a Service market.