Wireless Module
What industry-specific factors are fueling the growth of the wireless module market?
The wireless module market is anticipated to expand due to the rising trend of IoT device utilization. These are interconnected objects armed with sensors and software that interact via the internet, facilitating data transfer and automation across diverse applications such as residential areas, industries, and healthcare. The primary reason for the upsurge in IoT device usage is the escalating demand for connectivity, automation, and data-guided decision-making in numerous industries. Wireless modules, being crucial for IoT devices, enable effortless communication and data transfer between smart devices, leading to efficient and automated operations. Ericsson, a Swedish network and telecommunications firm, projected in November 2022, that the count of IoT-connected devices would rise to 34.7 billion by 2028, a considerable jump from 13.2 billion in 2022. Hence, the growing adoption of IoT devices propels the development of the wireless module market.
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What Is the projected market size and growth rate for the wireless module market?
The rapid expansion of the wireless module market has been observed in recent years, progressing from $7.02 billion in 2024 to an anticipated $8.00 billion in 2025. This growth, measured at a compound annual growth rate (CAGR) of 13.9%, is attributed to several factors. These include the expansion of mobile communication and the Internet of Things (IoT), the rise in demand for smart home devices, the broadening of cellular networks, increased automation in various industries, and the mounting requirement for remote monitoring and control in sectors like healthcare and agriculture.
The anticipated size of the wireless module market is set to expand significantly in the coming years. It is projected to attain a valuation of $13.28 billion by 2029, with a compound annual growth rate (CAGR) of 13.5%. The surge in this forecasting period can be linked to the escalating demand for IoT devices, the development of smart cities, the increased implementation of industrial automation, the expansion of interconnected healthcare systems, the proliferation of connected vehicles, and a growing requirement for real-time data analytics and remote oversight. Notable trends during this projection period are improvements in data transfer rates via 5G integration, advancements in power efficiency for IoT apparatus, the adoption of compact layout designs, the evolution of long-distance communication technologies such as LoRa and Zigbee, the incorporation of AI for smarter data handling, and progression in multi-band systems.
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What new trends are reshaping the wireless module market and its opportunities?
Leading firms in the wireless module market are prioritizing the innovation of technologies such as multi-band support to boost compatibility across varying networks and ensure uninterrupted connectivity for various applications. Multi-band gives devices the ability to operate on multiple frequency ranges, providing smooth connectivity across a range of networks. For example, in November 2024, SIMCom, a wireless service provider based in China, unveiled their RedCap (reduced capability) wireless communication module range-SIM8230. With the incorporation of NTN connectivity, there is an opportunity to broaden IoT networks to isolated or underserved areas through the utilization of satellite and aerial networks. This fusion of 5G and NTN is anticipated to contribute to robust global coverage, reduced latency, and enhanced reliability for vital IoT applications, including smart cities and industrial automation.
What major market segments define the scope and growth of the wireless module market?
The wireless module market covered in this report is segmented –
1) By Type: Router, Wi-Fi Module, Embedded Wi-Fi Module
2) By Technology: Low-Power Wide-Area Network (LPWAN), 5G, 4G Or Long Term Evolution (LTE), Other Technologies
3) By Application: Remote Control, Public Safety, Wireless Payment, Transportation, Smart Meter Reading, Other Applications
4) By End-Use: Residential, Industrial, Commercial, Consumer Electronics
Subsegments:
1) By Router: Industrial Routers, Enterprise Routers, Consumer Routers, Mobile Hotspot Routers
2) By Wi-Fi Module: Dual-Band Wi-Fi Modules, Single-Band Wi-Fi Modules, Long-Range Wi-Fi Modules
3) By Embedded Wi-Fi Module: Surface Mount Wi-Fi Modules, Through-Hole Wi-Fi Modules, System-on-Module (SoM) Wi-Fi Modules
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Which region dominates the wireless module market?
Asia-Pacific was the largest region in the wireless module market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the wireless module market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Which key market leaders are driving the wireless module industry growth?
Major companies operating in the wireless module market are Huawei Technologies Co. Ltd., Xiaomi Corporation, CODICO GmbH, ZTE Corporation, Murata Manufacturing Co. Ltd., Microchip Technology Inc., Taiyo Yuden Co. Ltd., Quectel Wireless Solutions Co. Ltd., Advantech Co. Ltd., u-blox AG, Silicon Laboratories Inc., Digi International Inc., Telit Communications plc, AzureWave Technologies Inc., Shenzhen Longsys Electronics Co. Ltd., Laird Technologies Inc., Silex Technology Inc., Particle Industries Inc., Adafruit Industries LLC, Sierra Wireless Inc., Option N.V., Mipot S.p.A., Shanghai MXCHIP Information Technology Co. Ltd.
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What Is Covered In The Wireless Module Global Market Report?
•Market Size Forecast: Examine the wireless module market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the wireless module market for a structured understanding.
•Key Players Overview: Analyze major players in the wireless module market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the wireless module market.
•Segment Contributions: Evaluate how different segments drive overall growth in the wireless module market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the wireless module market.
•Industry Challenges: Identify potential risks and obstacles affecting the wireless module market.
•Competitive Landscape: Review strategic developments in the wireless module market, including expansions, agreements, and new product launches.
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