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Wi-Fi analytics is the showcasing of data captured via Wi-Fi access points which can be utilized to enhance marketing initiatives, physical layouts, and business operations. There are two different types of data analytics performed by Wi-Fi analytics solutions.
These types are marketing analytics and presence analytics. The data collected for analytics include location data, behavioral data, demographic data and digital marketing data.
Access to targeted marketing capabilities and online behavioral data allows online businesses to reframe user experience, provided that their physical counterparts can keep up. Brick-and-mortar stores are required to find different ways to understand and interact with prospects and customers, while they are visiting in order to improve customer experiences, predict behaviors, and re-market efficiently.
Wi-Fi analytics offers a way for businesses to close the gap between online and offline visibility and insights into the prospect’s behavior. Whether the end-user is a retail shop, an entire city or a two-day music festival, behavioral and sentiment analytics help reveal constructive insights that have the ability to drive the end-user’s performance strategies. This is the primary factor boosting the adoption of commercial Wi-Fi analytics in the global market.
However, Wi-Fi analytics do not automatically enhance business capabilities. The end-user is required to act on the constructive insights generated by Wi-Fi analytics. The lack of strategic intellect can actually deteriorate user experience, irrespective of whether the business is online or offline (physical). This factor limits the adoption of Wi-Fi analytics solutions.
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Mandatory lockdowns legislated on a global scale have resulted in the collapse of travel and hospitality industries. With national governments allowing sales of only the essential products, retail and food industries have also taken a major hit. As a measure of cost-cutting, regular clients of Wi-Fi analytics solution and service providers are unsubscribing from their Wi-Fi analytics plans.
With collapse of the primary industries driving market growth, Wi-Fi analytics solution providers are reporting declining sales on a global level. Though the demand for personal Wi-Fi analytics is estimated to rise with users working from home, the year-on-year growth rate of commercial Wi-Fi analytics is estimated to fall to 7% during the ongoing COVID-19 pandemic.
Some of the key players in the global Wi-Fi analytics market are Cisco; Skyfii Limited; Cloud4Wi, Inc.; GoZone WiFi, LLC; Hughes Network Systems LLC; Fortinet, Inc.; Ruckus Networks; Hewlett Packard Enterprise Development LP (Aruba); Yelp Inc.; and InnoQuant Strategic Analytics (MOCA Platform), among others.
Following are some strategies incorporated by the key players operating in the global Wi-Fi analytics market:
Wi-Fi analytics market in North America, especially the U.S., is currently leading the global market. Continuous changes in consumer demands in food and hospitality industry is estimated to motivate the end-users to accelerate the procurement of Wi-Fi analytics solutions and services during the forecast period, thus enabling the industry to record the fastest growth rate in the North American market.
Economies like Spain and Italy that are always looking to promote tourism are estimated to record strong growth rates during the forecast period as end-users operating in the travel and hospitality sector boost procurement of solutions that analyze consumer sentiments. The Wi-Fi analytics market in South Asia and Pacific region is estimated to record fastest growth among all the regional markets.
The Wi-Fi Analytics market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators, and governing factors, along with market attractiveness as per segment. The market report also maps the qualitative impact of various market factors on market segments and geographies.
