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Wi-Fi module market to ‘see’ double digit CAGR till 2024

Wi-Fi module market to ‘see’ double digit CAGR till 2024

Market news |
By Wisse Hettinga



Key findings of the report include:

  • In 2017, based on type, the router scheme Wi-Fi module segment dominated the global Wi-Fi module market, in terms of revenue.
  • In 2017, the smart appliances segment accounted for the highest revenue.
  • North America held the largest market share in 2017.
  • Asia-Pacific is anticipated to exhibit the highest CAGR during the forecast period.

Rising adoption of cloud computing and an increase in use of smart connected devices in the telecommunications, industrial, and commercial sectors are driving the growth of the global Wi-Fi module market. On the other hand, the rise in security and privacy issues restrict 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.

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