According to a new report, published by KBV research, The Global Wi-Fi Module Market size is expected to reach $119.89 billion by 2031, rising at a market growth of 11.0% CAGR during the forecast period.
In addition to consumer applications, Wi-Fi modules are being increasingly adopted in the automotive industry to enable connected car technologies. Modern vehicles have various Wi-Fi-enabled features, including infotainment systems, navigation, vehicle diagnostics, and over-the-air (OTA) software updates. Wi-Fi modules facilitate seamless communication between the vehicle and external networks, enhancing the experience and enabling advanced functionalities such as real-time traffic updates, in-car entertainment, and remote vehicle monitoring.
The Embedded segment led the maximum revenue in the Global Wi-Fi Module Market by Type in 2023, thereby, achieving a market value of $68.8 billion by 2031. These modules are widely integrated into various devices, including consumer electronics, smart home devices, industrial equipment, and healthcare monitoring systems. Their compact size, low power consumption, and seamless integration capabilities make them ideal for IoT applications, where connectivity must be directly embedded.
The Consumer Electronics segment is growing at a CAGR of 9.4 % during the forecast period. The consumer electronics segment benefits from the rising penetration of smartphones, tablets, laptops, smart TVs, and gaming consoles, all requiring stable, high-speed internet connectivity. Consumers' increasing reliance on digital content consumption, video streaming, online gaming, and virtual communication tools has driven the need for efficient Wi-Fi modules.
Full Report: https://www.kbvresearch.com/wi-fi-module-market/
The Asia Pacific region dominated the Global Wi-Fi Module Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $44.0 billion by 2031. The North America region is anticipated to grow at a CAGR of 10.3% during (2024 - 2031). Additionally, The Europe region would witness a CAGR of 10.8% during (2024 - 2031).
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