Global Wi-Fi Module Market Set For 13.2% Growth, Reaching $103.91 Billion By 2028
Widefield Imaging Systems Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company’s Early Year-End Sale! Get up to 30% off detailed market research reports—for a limited time only!
LONDON, GREATER LONDON, UNITED KINGDOM, December 19, 2024 /EINPresswire.com/ -- The Business Research Company’s Early Year-End Sale! Get up to 30% off detailed market research reports—limited time only!
As the digital transformation era remains in full swing, the necessity for network performance optimization and enhanced network security has become more apparent. This trend has led to a surge in the global Wi-Fi module market size, which is expected to grow from $55.90 billion in 2023 to $63.23 billion in 2024, marking a compound annual growth rate CAGR of 13.1%. This historical period growth was driven largely by the demand for improved network performance, heightened regulatory requirements for data protection and network security, expansion in public Wi-Fi deployment, and increased digital transformation efforts.
How is the Market Projected to Grow?
The Wi-Fi module market size is expected to see rapid growth in the next few years, reaching an impressive value of $103.91 billion in 2028 at a CAGR of 13.2%. This forecast period growth is primarily attributed to an increased demand for high-speed internet, growing number of connected devices, the proliferation of Internet of Things IoT devices, increasing adoption of cloud-based services, and heightened mobile payment adoption. The market will be charactized by major advancements in Wi-Fi technology, integration with smart building systems, rollout of 5G technology and its integration, demonstartion of sustainable technology solutions, and integration of AI and machine learning.
Get a detailed sample of the report here: https://www.thebusinessresearchcompany.com/sample.aspx?id=19757&type=smp
What’s Driving the Market's Growth Forward?
The increasing use of IoT devices is forecasted to propel future growth of the Wi-Fi module market. IoT devices, which are interconnected gadgets that communicate and exchange data through the internet, have seen rising adoption due to advancements in technology, increased connectivity and bandwidth, declining costs of sensors and hardware, and the growing need for automation and data-driven decision-making. These IoT devices rely heavily on efficient and reliable Wi-Fi modules to ensure consistent network connectivity and effective data exchange. For instance, Ericsson, a Sweden-based telecommunications company, reported that total IoT connections reached 15.7 billion connections in 2023, and this figure is expected to rise by 16% to 38.8 billion connections by 2029.
Access the full report here: https://www.thebusinessresearchcompany.com/report/widefield-imaging-systems-global-market-report
Who Are the Key Players in the Market?
The Wi-Fi module market is run by an array of major companies including Verizon Communications Inc., Intel Corporation, Vodafone Group Plc, Cisco Systems Inc., Broadcom Inc., Fujitsu Limited, Hewlett Packard Enterprise Development LP, Bharti Airtel Limited, Infineon Technologies AG, Murata Manufacturing Co. Ltd., NXP Semiconductors N.V., Rogers Communications Inc., Arista Networks Inc., Tata Communications Limited, NMB Technologies Corporation, U-Blox Holding AG, Ruckus Wireless Inc., Espressif Systems Co. Ltd., Rolling Wireless SARL, LM Technologies Ltd., LG Networks Inc., and DayStar Electric Technology Inc.
What Are Some Emerging Trends in the Market?
Looking forward, players in the Wi-Fi module market are focusing on developing advanced products like third-generation technology or wi-fi 6 or 802.11ax. This emerging technology aims to improve performance, efficiency, and capacity over previous generations. For example, in January 2024, China-based Quectel Wireless Solutions introduced its new Wi-Fi 7 modules, the FGE576Q and FGE573Q, resulting in a significant upgrade in wireless connectivity for IoT and mobile devices.
How is the Wi-Fi Module Market Segmented?
The Wi-Fi module market can be segmented based on various factors:
1 By Type: Universal Wi-Fi Module, Router Scheme Wi-Fi Module, Embedded Wi-Fi Module
2 By Application: Smart Appliances, Handheld Mobile Devices, Medical And Industrial Testing Instruments, Smart Grid, Router
3 By End Users: Residential Users, Commercial Users, Industrial Users
What are the Regional Insights?
North America emerged as the largest region in the Wi-Fi module market in 2023. The report further provides coverage for regions including Asia-Pacific, Western Europe, Eastern Europe, South America, and the Middle East and Africa.
Browse Through More Similar Reports By The Business Research Company:
3D Medical Imaging Devices Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/3d-medical-imaging-devices-global-market-report
Diagnostic Imaging Equipment Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/diagnostic-imaging-equipment-global-market-report
3D Diagnostic Imaging Services Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/3d-diagnostic-imaging-services-global-market-report
About The Business Research Company
Learn More About The Business Research Company. With over 15000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Armed with 1,500,000 datasets, the optimistic contribution of in-depth secondary research, and unique insights from industry leaders, you can get the information you need to stay ahead in the game.
Contact us at:
The Business Research Company: https://www.thebusinessresearchcompany.com/
Americas +1 3156230293
Asia +44 2071930708
Europe +44 2071930708
Email us at info@tbrc.info
Follow us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
Oliver Guirdham
The Business Research Company
+44 20 7193 0708
email us here
Visit us on social media:
Facebook
X
LinkedIn
Distribution channels: Business & Economy, Companies, International Organizations, Technology, World & Regional
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
Submit your press release