Wi-Fi Module Market by 2026 - Competitor Revenue Models, Industry Analysis and Forecast
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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In 2017, North America dominated the global Wi-Fi module market. In the same year, the U.S. dominated the North America market.
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.
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