Wi-Fi Modules Market:
A Wi-Fi Module is an independent system on a chip (SoC) integrated with transmission control & internet protocol stack that enables microcontrollers to provide access to the Wi-Fi network. Wi-Fi Module is a functional unit connecting various electronic devices such as smartphones, tablets, laptops, and smart home appliances including air-conditioner, water heater, television, washing machine, and others, to the internet. The market size of Wi-Fi Modules is 5460 million US$ in 2019 and expected to reach 12800 million US$ in 2025, recording a substantial CAGR of 11.2% during this period.
The Wi-Fi Modules industry is concentrated with manufacturers based mostly in Asia, Europe and North America. It is used in various industries mainly scientific, industrial, commercial, and consumer applications. Growing urbanization and rise in population coupled with technological advancements are key factors leading to an increased demand for internet that is creating attractive growth opportunities for the Wi-Fi Modules market. Rapid adoption of smart technology in residential and commercial sector has witnessed a rising trend of various smart technology enabled devices such as washing machines, televisions, smartphones, air-conditions, cooking range etc through Wi-Fi Modules.
In the wake of cloud computing, many industries are gradually shifting towards cloud computing to lower their costs by eliminating several investments required for hardware storage and physical infrastructures. Since cloud computing provides advantages such as viability, scalability, and swiftness along with data storage and retrieval, the Wi-Fi Modules marketis expected to witness a significant growth over a period of time. This report focuses on Wi-Fi Modules volume and value at a global, regional level and company level. From a global perspective, this report represents overall Wi-Fi Modules market size by analysing historical data and future prospect.
The Wi-Fi Modules market is broadly classified by Type and Application.
The market by Type is further divided into
- Router Scheme Wi-Fi Module
- Embedded Wi-Fi Module
The report on the basis of Application focuses on the status and outlook for major applications/end users, sales volume, market share and growth rate of Wi-Fi Modules Market applications. The market by Application is further segmented into:
- Smart Grid
- Smart Appliance
- Handheld Mobile Device
- Medical & Industrial Testing Instrument
By region, the global Wi-Fi Modules market spans across United States, Europe, China, Japan and South Korea. These key markets are further segmented into North America (U.S., Canada, Mexico); Europe (UK, Germany, France and Rest of Europe); Asia-Pacific (China, India, Japan, Rest of Asia-Pacific) and LAMEA (Latin America, Middle East and Africa).
Out of these markets, the sales volume of China market accounted for more than 48.55% of the total sales volume of global Wi-fi Modules in 2017. Murata Electronics is the world leading manufacturers in global Wi-fi Module market with a market share of 18.07%, in terms of revenue.
Increased penetration of mobile technology and advancements such as IoT (Internet of Things) enables the smart electronic devices connect to the internet that can be accessed remotely with the help of Wi-Fi modules. However, the limiting factor that makes it vulnerable and less secure to hacking owing to rising privacy and security issues, causing a restraint to the growing market of Wi-Fi modules.
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