What are the Historical Developments and Current Growth Metrics of the Wireless Module Market?
The wireless module market has seen considerable growth due to a variety of factors.
• The size of the wireless module market has seen rapid expansion in the last few years. It is projected to rise from $7.02 billion in 2024 to $8.00 billion in 2025, with a Compound Annual Growth Rate (CAGR) of 13.9%.
The historic growth period is associated with the emergence of mobile communication, the development of the Internet of Things (IoT), the surge in demand for devices for smart homes, the broadening of cellular networks, increased automation in the industry sector, and the growing need for remote monitoring and control in areas such as healthcare and agriculture.
What Does Future Hold for The Wireless Module Market By 2029?
The wireless module market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of wireless modules is anticipated to experience a significant surge in the coming years, projected to amplify up to $13.28 billion in 2029 with a compound annual growth rate (CAGR) of 13.5%.
The expansion during the forecast period is primarily due to the rising demand for IoT devices, the growth of smart cities, increasing implementation of industrial automation, burgeoning connected healthcare solutions, the rapid rise in connected vehicles and the escalating requirement for real-time data analytics and remote monitoring. Key trends during this forecast period encompass improvements in data transfer speeds due to 5G integration, enhancements in power efficiency for IoT devices, the trend towards compact design, the evolution of long-range communication technologies such as LoRa and Zigbee, the incorporation of AI for smart data processing and progress in multi-band systems.
What Are The Primary Growth Drivers In The Wireless Module Market?
The wireless module market's expansion is anticipated to be fueled by the escalating adoption of IoT devices. These IoT devices are connected objects outfitted with software and sensors that facilitate communication through the internet, promoting data sharing and automation across diverse applications like homes, healthcare, and industries. The surge in IoT devices' utilization largely stems from the increasing needs for connectivity, automation, and data-driven decision-making across various sectors. Wireless modules play a crucial role in these IoT devices, promoting uninterrupted communication and data transmission between intelligent devices for efficient and automated functions. As per a report by Ericsson, a renowned network and telecommunication company based in Sweden, in November 2022, the count of IoT-connected devices is anticipated to soar to 34.7 billion by 2028 from 13.2 billion in 2022. Hence, the escalating adoption of IoT devices propels the expansion of the wireless module market.
What Is The Segmentation Of The Global 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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What Emerging Trends Are Influencing The Growth Of The Wireless Module Market?
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.
Who Are the Key Players 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 Are The Regional Insights Into 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.
