Wi-Fi Module Market Expected to Reach $59.14 Billion, Globally, by 2024 | Global Opportunity Analysis and Industry Forecast, 2018-2024

A Wi-Fi module is an independent system on a chip (SoC) that is integrated with the help of TCP/IP stack enabling microcontrollers to provide access to the Wi-Fi network. The main purpose of the Wi-Fi module is to connect numerous electronic devices to the internet mainly, smartphones, tablets, laptops, and other smart appliances that include household electronic devices such as washing machine, air-conditioner, water heater, smart television, refrigerator, and others.

In 2017, North America dominated the global Wi-Fi module market. In the same year, the U.S. dominated the North America market. According to a recent report published by Allied Market Research, titled, Global Wi-Fi Module Marketby 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.

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Rise in adoption of cloud computing and increase in use of smart connected devices in the telecommunications, industrial, and commercial sectors drive the growth of the global Wi-Fi module market. However, rise in security and privacy issues restrict the market growth.

In recent years, number of industries have shifted 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.

In 2017, based on type, the router scheme Wi-Fi module segment dominated the global Wi-Fi module market, in terms of revenue. However, based on application, smart appliance segment led the global market in the same year.

The global Wi-Fi module market is analyzed based on four regions-North America, Europe, Asia-Pacific, and LAMEA. In addition, it includes Porters five forces analysis to understand the competitive scenario of the industry and role of each stakeholder. The report further features the strategies adopted by the key market players to maintain their foothold in the 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., Microchip Technology Inc. are some of the key players operating in the global Wi-Fi module market.

Key Benefits:
•This study comprises analytical depiction of the global Wi-Fi module market with current trends and future estimations to depict the imminent investment pockets.
•The overall market potential is determined to understand the profitable trends to gain a stronger foothold.
•The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
•The current market is quantitatively analyzed from 2018 to 2024 to benchmark the financial competency.
•Porters five forces analysis illustrates the potency of the buyers and suppliers in the industry.

Wi-Fi Module Market Key Segments:

By Type
• Router Scheme Wi-Fi Module
• Embedded Wi-Fi Module

By Application
• Smart Grid & Smart Appliance
• Handheld Mobile Device
• Medical & Industrial Testing Instrument
• Router

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The report includes a micro-level study of different regions adopting Wi-Fi modules for various applications. In addition, it discusses the potential opportunities for market players to enter the market. Moreover, it provides an in-depth market analysis of Wi-Fi module, outlining current trends, key driving factors, and potential areas for product investments.

About Allied Market Research
Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small & medium enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.

Allied Market Research provides one stop solution from the beginning of data collection to investment advice. The analysts at Allied Market Research dig out factors that help clients to understand the significance and impact of market dynamics. The company amplies client’s insight on the factors, such as strategies, future estimations, growth or fall forecasting, opportunity analysis, and consumer surveys among others. As follows, the company offers consistent business intelligent support to aid the clients to turn into prominent business firm.

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This release was published on openPR.