Wi-Fi Module Market by Type (Router Scheme Wi-Fi Module & Embedded Wi-Fi Module), by Application (Smart Grid & Smart Appliance, Handheld Mobile Device, Medical & Industrial Testing Instrument and Router) - Global Opportunity Analysis and Industry Forecast

Global Wi-Fi Module Market by Type and Application: Global Opportunity Analysis and Industry Forecast, 2017-2024, the global Wi-Fi module market was valued at $26.48 billion in 2017, and is projected to reach at $59.14 billion by 2024, growing at a CAGR of 11.2% from 2018 to 2024.

The wireless technology has Wi-Fi modules to its core and the people baffled by the era of the internet of things have no choice other than using the latest and fastest Wi-Fi technology such as Wi-Fi HaLow.

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“More than 50 billion internet of things (IoT) devices will be connected to the internet by the end of 2020,” predicted Cisco, the worldwide leader in IT and networking. If the prediction is true, the world is in dire need of smarter, smaller, and faster Wi-Fi modules. In the world of IoT, the smart things “talk” to each other and to humans.

The IoT applications touch aspect of human life as well as every industry in the world including healthcare, transportation, safety and security, home and building management. Therefore, for a seamless communication, wireless technology plays a vital role. The advanced and highly integrated Wi-Fi modules provide high-speed internet without consuming high power. Thus, the Wi-Fi module market has seen a remarkable growth in the last few years. According to Allied Market Research, the adoption of cloud computation and rise in telecommunication has boosted the growth of the Wi-Fi module market.

There are numerous advantages that Wi-Fi modules provide, making them the most suitable candidate for IoT application. Wi-Fi offers low-cost infrastructure and ease of development. In addition, Wi-Fi can be leveraged as the prime communication channel and multiple devices can be connected simultaneously, especially in smart homes, where all smart devices need to communicate with each other smoothly and most importantly, in real time. Therefore, a new version of Wi-Fi has emerged known as Wi-Fi HaLow. This radio technology-based digital devices connect to the internet without consuming the cellular data cap. This tech is not designed for gadgets, instead, it is especially aimed for network-connected devices–that includes every IoT application.

Moreover, it uses less power and doubles the range of communication. Owing to such benefits, Wi-Fi HaLow is expected to become a standard in smart cities, where smart devices and smart wearables reign instead of the traditional Bluetooth technology. Wi-Fi HaLow works in the range of 900 Mhz band–which is currently used by baby monitors and microwave ovens–as the range is ideal for penetrating walls. However, the power consumption is still the biggest obstacle for Wi-Fi HaLow. However, more technological breakthroughs will unveil the robustness and efficiency of Wi-Fi HaLow.

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There is nothing more tiresome than a device pointing toward a dying battery. In a factory, changing battery of a sensor can be equivalent to risking your life. In addition, the smart devices and wearables that people continuously use need a constant internet connection and dying battery can create unimaginable snags. With the developments in power saving techniques, it is now possible to use Wi-Fi modules to connect to battery-powered devices.

Moreover, based on the type of application, a device can use its low-power feature–such as hibernation mode–to operate as long as possible, consuming minimum power. For instance, a surveillance camera requires a constant Wi-Fi connection and can last up to two years using a 5,000 mAh battery. Opting for such battery-saving modes one can boost the efficiency of Wi-Fi modules and can be used for smart applications until the discovery of a new fast, yet low-power consuming Wi-Fi hits the market.

Analyst Review:

The global Wi-Fi market is driven prominently by the smart grid & smart appliances application. The adoption of cloud computing and increase in use of smart & connected devices mainly in the commercial, residential, and industrial sectors fuel the growth of the Wi-Fi module market. The robust growth in the electronics industry in North America and the increase in demand for smart connected devices has driven the market in the region.

In recent years, numerous industries are shifting their focus towards cloud computing components in order to eliminate investment costs required for hardware storage and physical infrastructure. Moreover, cloud computing provides certain advantages such as viability, scalability, and high-speed. Furthermore, cloud computing also helps in data storage and retrieval. These factors are expected to propel the growth of the Wi-Fi modules.

Among the analyzed geographical regions, North America accounted for the highest revenue in the global market in 2017 followed by Europe, Asia-Pacific, and LAMEA. However, Asia-Pacific is expected to grow at a higher growth rate, predicting a lucrative market growth for the Wi-Fi module market.

Murata Manufacturing Co., Ltd., Taiyo Yuden Co., Ltd., Azure Wave Technologies, Inc., Silicon Laboratories Inc., Laird PLC, Broadlink, Advantech Co., Ltd., Shanghai MXCHIP Information Technology Co., Ltd., Silex Technology, Inc., and Microchip Technology Inc. are the key market players that occupy a significant revenue share in the Wi-Fi module market.

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