Wilmington, Delaware , Aug. 12, 2024 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, "Wi-Fi Module Market by Type (Embedded Wi-Fi Modules and Router Scheme Wi-Fi Modules), Application (Consumer Electronics, Enterprise, Industrial, Smart Home, Medical and Others): Global Opportunity Analysis and Industry Forecast, 2024-2032". According to the report, the wi-fi module market was valued at $54.3 billion in 2023, and is estimated to reach $145.6 billion by 2032, growing at a CAGR of 11.4% from 2024 to 2032.
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- 123 – Tables
- 56 – Charts
- 270 – Pages
Prime determinants of growth
The Wi-Fi modules market has grown globally due to the expanding integration of Wi-Fi technology in different sectors and the increasing need for fast internet. This growth is driven by the need for reliable and uninterrupted connectivity required in smart homes, industrial automation, and many other applications. Moreover, the surge in industry expansion is hampered by expensive initial costs linked to advanced Wi-Fi module creation and implementation. Furthermore, the rising usage of IoT devices in various industries has also prompted the demand for powerful and efficient Wi-Fi modules.
Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2024–2032 |
| Base Year | 2023 |
| Market Size in 2022 | $54.3 billion |
| Market Size in 2032 | $145.6 billion |
| CAGR | 11.4% |
| No. of Pages in Report | 270 |
| Segments Covered | Type, Application, and Region. |
| Drivers |
|
| Opportunities | Expansion in Emerging Markets |
| Restraint | Surge in Security Concerns Globally |
Segment Highlights
By type, the embedded Wi-Fi modules segment dominated the market, owing to their simplicity of integration into different devices and versatility. These modules are important in Internet of Things (IoT) applications because they allow good seamless communication to a wide range of smart items, from home appliances to industrial gear. They are small, use less power, and work well with new or current systems. Because of the dependable and effective wireless communication capabilities that smart home technologies and industrial IoT solutions provide, the demand for embedded Wi-Fi modules is rapidly increasing.
By application, the smart home devices segment accounted for a major share of the Wi-Fi modules market, owing to an increase in number of smart technical products such as smart thermostats, security systems, lighting controls, home entertainment, and so on, all of which aim to improve their clients' services. Consumers want networked automated homes with reliable high-speed WI-FI connectivity. Smart home technologies save time on energy consumption while also giving more security, which is why people are increasingly adopting them over other types of houses/devices. Furthermore, this increase is further accelerated by AI advancements and voice-controlled assistants that may be found in Wi-Fi Modules for Smart Home Applications.
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Regional Outlook
Based on region, the Asia-Pacific region secure a major share due to the rapid technological improvements and high smart device usage rates in countries such as China, Japan, and South Korea, the Asia-Pacific region dominates the global market for Wi-Fi modules. The large population in this area, combined with higher disposable incomes, has increased demand for consumer electronics and smart home gadgets. Furthermore, the region has seen a rapid expansion of IoT infrastructure and the presence of large electronic manufacturers, which contributes to its dominant position. Government initiatives to promote digitization and smart cities are also driving up Wi-Fi module adoption, making Asia Pacific the largest regional market with the fastest growth rates.
Key Players:
- Murata Manufacturing Co., Ltd.
- Silicon Labs
- Texas Instruments Incorporated
- Cypress Semiconductor Corporation
- Qualcomm Technologies, Inc.
- Broadcom Inc.
- Microchip Technology Inc.
- MediaTek Inc.
- u-blox
- Redpine Signals
The report provides a detailed analysis of these key players in the global Wi-Fi module market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
Recent Development:
- On 02 December 2023: Qualcomm announced the launch of the Wi-Fi 7 Networking Pro Series platform, designed to deliver multi-gigabit speeds and low-latency connectivity for a wide range of devices, including smartphones, PCs, and IoT devices. This new platform aims to revolutionize wireless connectivity with its enhanced performance and efficiency.
- On 20 September 2023: Silicon Labs introduced a family of Wi-Fi 6 modules that feature a smaller form factor, making them ideal for space-constrained IoT devices. These modules offer robust security, low power consumption, and long-range connectivity, catering to the growing demand for reliable and efficient wireless solutions in the IoT space.
- On June 15, 2023: Infineon (Cypress) announced the launch of their new series of Wi-Fi 6E modules that support the 6 GHz band, providing increased bandwidth and reduced interference for demanding applications like video streaming and online gaming. These modules are targeted towards consumer electronics, industrial IoT, and automotive markets.
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Key Benefits For Stakeholders:
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the wi-fi module market analysis from 2024 to 2032 to identify the prevailing wi-fi module market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the wi-fi module market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global Wi-Fi Module Market trends, key players, market segments, application areas, and market growth strategies.
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Wi-Fi Module Market Key Segments:
By Type
- Embedded Wi-Fi Modules
- Router Scheme Wi-Fi Modules
By Application
- Consumer Electronics
- Enterprise
- Industrial
- Smart Home
- Medical
- Others
By Region
- North America (U.S., Canada, Mexico)
- Europe (UK, Germany, France, Italy, Rest of Europe)
- Asia-Pacific (China, Japan, India, South Korea, Rest of Asia-Pacific)
- Latin America (Brazil, Argentina, Rest of Latin America)
- Middle East and Africa (UAE, Saudi Arabia, Rest of Middle East And Africa)
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