The wi-fi module global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Wi-Fi Module Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size —
The Wi-Fi module market size has grown rapidly in recent years. It will grow from $55.90 billion in 2023 to $63.23 billion in 2024 at a compound annual growth rate (CAGR) of 13.1%. 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 increased digital transformation.
The Wi-Fi module market size is expected to see rapid growth in the next few years. It will grow to $103.91 billion in 2028 at a compound annual growth rate (CAGR) of 13.2%. The growth in the forecast period can be attributed to increased demand for high-speed internet, a growing number of connected devices, the proliferation of Internet of Things (IoT) devices, increasing adoption of cloud-based services, and increased 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.
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Scope Of Wi-Fi Module Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Market Drivers –
The increasing adoption of IoT devices is expected to propel the growth of wi-fi modules going forward. Internet of Things (IoT) devices are interconnected gadgets that communicate and exchange data through the internet. The increasing adoption of IoT devices is due to several factors, such as advancements in technology, increased connectivity and bandwidth, declining costs of sensors and hardware, and the growing need for automation and data-driven decision-making. The widespread adoption of IoT devices relies heavily on efficient and reliable Wi-Fi modules to ensure consistent network connectivity and effective data exchange. For instance, in 2023, according to a report published by Ericsson, a Sweden-based telecommunications company, total IoT connections reached 15.7 billion connections in 2023 and are expected to increase by 16% to 38.8 billion connections by 2029. Therefore, the increasing adoption of IoT devices is driving the growth of the wi-fi module market.
Market Trends —
Major companies operating in the Wi-Fi module market are focusing on developing advanced products, such as third-generation technology, to gain a competitive edge in the market. Third-generation wi-fi technology, commonly known as wi-fi 6 (or 802.11ax), represents the latest advancements in wireless networking technology, designed to improve performance, efficiency, and capacity over previous generations. For instance, in January 2024, Quectel Wireless Solutions, a China-based manufacturer of wireless communication services, introduced its new Wi-Fi 7 modules, the FGE576Q and FGE573Q, representing a significant leap forward in wireless connectivity for IoT and mobile devices. The FGE576Q achieves data rates of up to 3.6 Gbps, while the FGE573Q supports up to 2.9 Gbps, both operating across dual bands (2.4 GHz + 5 GHz and 2.4 GHz + 6 GHz). This technology promises improved speed, capacity, and efficiency, catering to a wide range of applications, including smart homes, industrial automation, healthcare, and transportation.
The Wi-Fi module market covered in this report is segmented —
1) By Type: Universal Wi-Fi Module, Router Scheme Wi-Fi Module, Embedded Wi-Fi Module
2) By Application: Smart Appliances, Handheld Mobile Devices, Medical And Industrial Testing, Instruments, Smart Grid, Router
3) By End Users: Residential Users, Commercial Users, Industrial Users
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Regional Insights —
North America was the largest region in the Wi-Fi module market in 2023. The regions covered in the Wi-Fi module market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies —
Major companies operating in the Wi-Fi module market are Verizon Communications Inc., Intel Corporation, Vodafone Group Plc, Cisco Systems Inc., Broadcom Inc., Fujitsu Limited, Hewlett Packard Enterprise Development LP, Bharti Airtel Limited, Infineon Technologies AG, Murata Manufacturing Co. Ltd., NXP Semiconductors N.V., Rogers Communications Inc., Arista Networks Inc., Tata Communications Limited, NMB Technologies Corporation, U-Blox Holding AG, Ruckus Wireless Inc., Espressif Systems Co. Ltd., Rolling Wireless SARL, LM Technologies Ltd., LG Networks Inc., DayStar Electric Technology Inc.
Table of Contents
1. Executive Summary
2. Wi-Fi Module Market Report Structure
3. Wi-Fi Module Market Trends And Strategies
4. Wi-Fi Module Market — Macro Economic Scenario
5. Wi-Fi Module Market Size And Growth
…..
27. Wi-Fi Module Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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