Wi-Fi Module Market size is estimated to grow at a CAGR of 7.9% during the forecast period 2021 to 2026 to reach $22.9 billion. The significant rise in the demand for the Wi-Fi Modules is owing to the rising data traffic alongside cloud computing and 5G deployment across various regions. Reduction in the cost of ownership of Wi-Fi infrastructure for organizations, development of smart cities, increased demand for high-speed and widespread wireless network interface controls, and quick deployment of networks and end-to-end value chain visibility offered to organizations are factors fuelling the growth of the Wi-Fi Module industry. Rising adoption of Wi-Fi as a base technology for various other wireless network protocols such as radio frequency technology will also drive the market significantly
Wi-Fi Module Market Segment Analysis – By Type
By type, the market is segmented into embedded Wi-Fi module and router scheme based Wi-Fi module. Router scheme based Wi-Fi modules are highly used in residential applications, industrial applications and so on, hence hold highest share of 67.2% in 2020. However, with the growing demand for the IoT devices especially those based on radio frequency technology, embedded Wi-Fi modules based on the latest wireless network protocol (Wi-Fi 6) are analysed to grow at highest rate during the forecast period 2021-2026. The growing smart city projects are majorly contributing to the implementation of the IoT devices thereby leading to the market growth rate. Government in various APAC countries such as India, Japan and Korea are significantly investing in the smart city projects thereby contributing to the market growth rate.
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Wi-Fi Module Market Segment Analysis – By Application
Smart appliance is analysed to grow at highest rate of 10.5% during the forecast period 2021-2026. With the rising growth of the Smart TV, refrigerators, and other devices, the Wi-Fi module market size is analysed to grow as the Wireless network interface control modules are integrated into these devices. Handheld mobile devices such as digital cameras, radios and so on also have significant demand, hence hold a significant share in the market. With the significant implementation of IIoT devices in industrial, medical sector and so on is also majorly contributing to the market growth rate.
Wi-Fi Module Market Segment Analysis – By Geography
APAC is analysed to be the dominant region in 2020 with a share of 34.2% owing to the increasing data traffic from the economies such as China and India. The shifting trend towards the digitalization in India involving the projects such as Digital India, Smart cities and others is set to significantly contribute to the growth of the market. All these require the connected solutions thereby boosting the demand for the Wi-Fi Modules. However, increase in privacy and security issues especially in Europe affect the growth of the Wi-Fi module industry. These factors are anticipated to either drive or hamper the market growth. The rising adoption of the latest Wireless network protocol (Wi-Fi 6) in enterprise and residential markets will be a major driver.
Wi-Fi Module Market Drivers
Increasing cloud computing
The increasing data traffic at a global level, with the growing demand from the end user majorly from communication sector is set to escalate the market growth rate. The significant adoption of cloud based technologies requires the WI-FI Modules for data transfer and storage hereby contributing to the market growth rate. In April 2020, Alibaba Cloud, has announced to invest a $28.2 billion in cloud infrastructure and the construction of data centers over the next three years as it prepares to help digital transformation efforts in a post-pandemic world.
Adoption of Wireless Networks during Covid-19
Although the COVID-19 pandemic has certainly not triggered Industry 5.0, it has brought home the reality of Industry 4.0. digital workflows, wireless communication and automation whose penetration has risen significantly. Also, with the need for social distancing, people are communicating more, which will drive additional data traffic, whether it’s on legacy systems or new wireless network protocols such as 5G or Wi-Fi. The strain on voice services, though, will be helped to some extent by the convergence of WhatsApp, Messenger, Skype, Hangouts, and FaceTime calling within the iOS and Android ecosystems. The rising adoption of Wi-Fi in enterprise and industrial sectors especially in conjunction with radio frequency technology. This will drive the Wi-Fi module industry.
Wi-Fi Module Market Challenges
With the significant growth in the advanced technologies such as IoT devices and smart devices. The Wi-Fi devices, especially wireless network interface controls, are vulnerable to hijacks, cyber-attacks and other threats thereby hindering the market growth rate. In 2019, Forbes stated that the Cyberattacks on the IOT devices surged 300%. These factors are significantly hampering the market growth rate during the forecast period 2021-2026.
Wi-Fi Module Market Landscape
Product launches, acquisitions, and R&D activities are key strategies adopted by players in the Wi-Fi Module market. Wi-Fi Module driver market is expected to be dominated by major companies such as Murata Manufacturing Co., Ltd., Azure Wave Technologies, Advantech Ltd., Broadlink, Microchip Technology., Silex Technolog., among others.
In February 2020, ublox announced the launch of its first Wi-Fi 6 module series majorly for the automotive infotainment applications.
In June 2020, Fibocom announced the launch of its Wi-Fi 6 Module to deliver enhanced IoT wireless solutions with 5G.
APAC is analysed to grow at highest rate during the forecast period owing to the increasing developments in the communication and adoption of advanced technologies.
With the rising adoption and implementation of IoT devices is significantly contributing to the embedded Wi-Fi module growth rate.
The increasing infrastructure development in the communication sector such as 5G is analysed to be the key driving factor for the market.
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