The automotive wi-fi modules global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Automotive Wi-Fi Modules Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size —
The automotive Wi-Fi modules market size has grown rapidly in recent years. It will grow from $2.97 billion in 2023 to $3.29 billion in 2024 at a compound annual growth rate (CAGR) of 10.6%. The growth in the historic period can be attributed to the rise in demand for in-car infotainment systems, growth in the use of telematics, rise in investment in automotive cybersecurity measures, growth in the automotive industry, and growth in smartphone integration within vehicles.
The automotive Wi-Fi modules market size is expected to see rapid growth in the next few years. It will grow to $4.94 billion in 2028 at a compound annual growth rate (CAGR) of 10.7%. The growth in the forecast period can be attributed to increasing demand for connected vehicles, rising adoption of advanced driver assistance systems, rising number of electric vehicles, rising investment in smart traffic management solutions, and rising demand for seamless connectivity across devices. Major trends in the forecast period include technological advancements, the adoption of 5G technology, advanced driver assistance systems, in-car entertainment systems, and telematics solutions.
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Scope Of Automotive Wi-Fi Modules Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Automotive Wi-Fi Modules Market Overview
Market Drivers –
The growing uptake of IoT devices is expected to propel the growth of the automotive Wi-Fi modules market going forward. Internet of Things devices are interconnected gadgets that communicate and exchange data through the Internet. The growing uptake of IoT devices is due to several factors, such as advancements in technology, increased connectivity and bandwidth, declining costs of sensors and hardware, and the growing need for automation and data-driven decision-making. IoT devices in automotive Wi-Fi modules enhance vehicle connectivity by enabling real-time data exchange, remote diagnostics, and advanced infotainment features. For instance, in 2023, according to a report published by Ericsson, a Sweden-based telecommunications company, total IoT connections reached 15.7 billion connections in 2023 and are expected to increase by 16% to 38.8 billion connections by 2029. Therefore, the growing uptake of IoT devices is driving the growth of the automotive Wi-Fi modules market.
Market Trends —
Major companies operating in the automotive Wi-Fi modules market are focusing on developing advanced products, such as temperature variant technology, to gain a competitive edge in the market. Temperature variant technology refers to specialized design features and materials that allow the modules to operate reliably across a wide range of temperatures. Automotive environments can expose electronic components to extreme heat and cold, making it essential for Wi-Fi modules to be resilient to these conditions. For instance, in June 2023, u-blox, a Switzerland-based semiconductor company, launched its latest dual-band Wi-Fi 6 and dual-mode Bluetooth 5.3 modules. The u-blox JODY-W5 is an advanced automotive-grade module equipped with dual-band Wi-Fi 6 and dual-mode Bluetooth 5.3 features, including LE Audio, to enhance vehicle connectivity. It is compact and designed to operate in demanding automotive environments at temperatures up to 105 °C. This module provides reliable and secure wireless connectivity and is suitable for a wide range of applications, including telematics, real-time vehicle diagnostics, and improved in-car entertainment.
The automotive wi-fi modules market covered in this report is segmented —
1) By Type: Wi-Fi 6 Module, Wi-Fi 5 Module, Other Types
2) By Technology: Wi-Fi Direct, Dual Wi-Fi Bluetooth, Wi-Fi Bluetooth
3) By Sales Channel: Original Equipment Manufacturers, Aftermarket
4) By Application: Commercial Vehicle, Passenger Car
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Regional Insights —
Asia-Pacific was the largest region in the automotive Wi-Fi modules market in 2023 and it is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive Wi-Fi modules market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies —
Major companies operating in the automotive Wi-Fi modules market are 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., DayStar Electric Technology Inc.
Table of Contents
1. Executive Summary
2. Automotive Wi-Fi Modules Market Report Structure
3. Automotive Wi-Fi Modules Market Trends And Strategies
4. Automotive Wi-Fi Modules Market — Macro Economic Scenario
5. Automotive Wi-Fi Modules Market Size And Growth
…..
27. Automotive Wi-Fi Modules Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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