The Business Research Company’s report on the Wireless Module Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
What are the primary drivers fueling the growth of the wireless module market in recent years?
The increase in adoption of IoT devices is expected to drive the growth of the wireless module market going forward. IoT devices are connected objects equipped with sensors and software that communicate via the internet, enabling data sharing and automation across various applications like homes, industries, and healthcare. The increased adoption of IoT devices is primarily due to the growing demand for connectivity, automation, and data-driven decision-making across various industries. Wireless modules are essential for IoT devices, enabling seamless communication and data exchange between smart devices for efficient and automated operations. For instance, in November 2022, according to Ericsson, a Sweden-based network and telecommunication company, the number of IoT-connected devices is expected to increase to 34.7 billion by 2028, up from 13.2 billion in 2022. Therefore, the increase in adoption of IoT devices is driving the growth of the wireless module market.
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What is the projected market size of the wireless module industry, and how is it expected to grow?
The wireless module market size has grown rapidly in recent years. It will grow from $7.02 billion in 2024 to $8.00 billion in 2025 at a compound annual growth rate (CAGR) of 13.9%. The growth in the historic period can be attributed to the rise of mobile communication, growth of the Internet of Things (IoT), increasing demand for smart home devices, expansion of cellular networks, rise in automation in industries, and rise in need for remote monitoring and control in sectors such as healthcare and agriculture.
The wireless module market size is expected to see rapid growth in the next few years. It will grow to $13.28 billion in 2029 at a compound annual growth rate (CAGR) of 13.5%. The growth in the forecast period can be attributed to increasing demand for IoT devices, expansion of smart cities, rising adoption of automation in industries, growing connected healthcare solutions, proliferation of connected vehicles, and increasing need for real-time data analytics and remote monitoring. Major trends in the forecast period include enhancements in data transfer speeds with 5G integration, improvement in power efficiency for IoT devices, adoption of compact designs, development of long-range communication technologies such as LoRa and Zigbee, integration of AI for intelligent data processing, and advancements in multi-band systems.
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Who are the key players driving competition in the wireless module market?
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.
What key trends are expected to drive the white shrimp market during the forecast period?
Major companies operating in the wireless module market are focusing on innovative technologies, such as integrating multi-band support, to enhance compatibility across various networks and provide seamless connectivity for diverse applications. Multi-band allows devices to work on different frequency ranges, ensuring seamless connectivity across diverse networks. For instance, in November 2024, SIMCom, a China-based company that provides wireless services, launched RedCap (reduced capability) wireless communication module range—SIM8230. The integration of NTN connectivity offers the potential to extend IoT networks to remote or underserved areas by leveraging satellite and aerial networks. This combination of 5G and NTN is expected to provide robust, global coverage, lower latency, and improved reliability for mission-critical IoT applications, ranging from smart cities to industrial automation.
Which key geographies are driving the growth of 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.
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What are the key segments driving growth in 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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How is the wireless module market defined?
A wireless module refers to a compact device that enables communication between electronic systems through wireless signals, typically using RF transceivers. They are used for applications such as IoT devices, remote sensing, home automation, and wireless communication in various industries.
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