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Wi-Fi Module Market Expected to Reach $59.14 Billion by 2024, at a CAGR of 11.2%

03-28-2019 06:21 PM CET | Media & Telecommunications

Press release from: Allied Market Research

Wi-Fi Module Market Expected to Reach $59.14 Billion by 2024, at

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.

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

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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.

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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 Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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