Portland, April 02, 2020 (GLOBE NEWSWIRE) -- According to the report, the global Wi-Fi module market accounted for $31.36 billion in 2018 and is expected to reach $59.14 billion by 2024, registering a CAGR of 11.2% from 2018 to 2024. The report offers a detailed analysis of the key segments, top investment pockets, changing dynamics, market size & estimations, and competitive scenario.

Excellent frequency characteristics along with highly resistant to abnormal voltage have boosted the growth of the global Wi-Fi module market. Furthermore, the performance advantage of MLCC such as high capacitance, lower impedance, and compact size propel the market growth. However, the devices being highly prone to physical damage such as cracking. hamper the market growth. On the contrary, increasing automotive electronics and upsurge in demand of the consumer electronics are expected to create lucrative opportunities in the near future.

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The global Wi-Fi module market is segmented on the basis of type, application, and region. Based on types, the market is divided into router scheme Wi-Fi module and embedded Wi-Fi module. The router scheme Wi-Fi module segment held the largest share in 2018, accounting for nearly three-fifths of the market. However, the embedded Wi-Fi module segment is projected to register 12.3% CAGR during the forecast period.

On the basis of application, the market is segmented in to smart appliances & smart grid, handheld mobile devices, medical & industrial testing instruments, and router. The smart appliances & smart grid segment held the largest share in 2018, accounting for nearly two-fifths of the market. However, the handheld mobile devices segment is projected to register the fastest CAGR of 13.1% during the forecast period.

Based on geography, he Wi-Fi module market is analyzed across various regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across North America held the lion’s share in 2018, accounting for more than two-fifths of the market. However, the Asia-Pacific region is anticipated to register the fastest CAGR of 13.3% during the forecast period.

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The market report provides an in-depth analysis of the major market players such as Darfon Electronics Corp., Taiyo Yuden Co. Ltd., TDK Corporation, Walsin Technology Corporation, YAGEO Corporation, Murata Manufacturing Co., Ltd., Vishay, Kyocera (AVX), Samsung Electro-Mechanics, and KEMET. They have adopted different strategies such as mergers & acquisitions, partnerships, collaborations, new product launches, and others to gain a strong position in the global industry.

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