PUBLISHER: The Business Research Company | PRODUCT CODE: 1619451
PUBLISHER: The Business Research Company | PRODUCT CODE: 1619451
Automotive Wi-Fi modules are specialized components that provide wireless internet connectivity within vehicles, enabling a range of connected services and features. These modules can be integrated into the vehicle's infotainment system or function as standalone devices, offering in-car Wi-Fi hotspots and connectivity for various applications. They are essential for enhancing the driving experience by supporting navigation, media streaming, and communication with external networks.
The main types of automotive Wi-Fi modules include Wi-Fi 6 modules, Wi-Fi 5 modules, and others. A Wi-Fi 6 module supports the latest Wi-Fi 6 (802.11ax) technology, delivering faster and more efficient wireless connectivity. Key technologies include Wi-Fi Direct, Dual Wi-Fi Bluetooth, and Wi-Fi Bluetooth. Sales channels for these modules include original equipment manufacturers and the aftermarket. They are used in a variety of applications, including commercial vehicles and passenger cars.
The automotive Wi-Fi modules market research report is one of a series of new reports from The Business Research Company that provides automotive Wi-Fi modules market statistics, including automotive Wi-Fi modules industry global market size, regional shares, competitors with an automotive Wi-Fi modules market share, detailed automotive Wi-Fi modules market segments, market trends, and opportunities, and any further data you may need to thrive in the automotive Wi-Fi modules industry. This automotive Wi-Fi modules market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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 during the historic period can be attributed to increased demand for in-car infotainment systems, greater use of telematics, rising investment in automotive cybersecurity measures, expansion in the automotive industry, and the growing integration of smartphones 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 anticipated growth during the forecast period can be attributed to the increasing demand for connected vehicles, greater adoption of advanced driver assistance systems, a rise in electric vehicles, growing investment in smart traffic management solutions, and a higher demand for seamless connectivity across devices. Key trends expected during this period include technological advancements, the adoption of 5G technology, developments in advanced driver assistance systems, innovations in in-car entertainment systems, and advancements in telematics solutions.
The increasing adoption of IoT devices is expected to drive the growth of the automotive Wi-Fi modules market. IoT devices are interconnected gadgets that use the Internet to communicate and exchange data. This rise in IoT device usage is attributed to factors such as technological advancements, improved connectivity and bandwidth, decreasing costs of sensors and hardware, and the increasing demand for automation and data-driven decision-making. In automotive applications, IoT devices integrated into Wi-Fi modules enhance vehicle connectivity by enabling real-time data exchange, remote diagnostics, and advanced infotainment features. For example, a report by Ericsson, a Sweden-based telecommunications company, indicated that total IoT connections reached 15.7 billion in 2023 and are projected to grow by 16% to 38.8 billion by 2029. This growing adoption of IoT devices is fueling the expansion of the automotive Wi-Fi modules market.
Key players in the automotive Wi-Fi modules market are focusing on developing advanced technologies, such as temperature variant technology, to maintain a competitive edge. Temperature variant technology involves design features and materials that ensure reliable operation of the modules across a wide temperature range. Automotive environments can expose electronic components to extreme temperatures, making it crucial for Wi-Fi modules to withstand these conditions. For instance, in June 2023, u-blox, a semiconductor company based in Switzerland, introduced its new dual-band Wi-Fi 6 and dual-mode Bluetooth 5.3 modules. The u-blox JODY-W5 is an automotive-grade module featuring dual-band Wi-Fi 6 and dual-mode Bluetooth 5.3, including LE Audio. It is designed to operate in harsh automotive environments at temperatures up to 105 °C, providing reliable and secure wireless connectivity for various applications like telematics, real-time vehicle diagnostics, and enhanced in-car entertainment.
In September 2022, Fibocom Wireless, a provider of wireless modules and solutions based in China, acquired all equity in Rolling Wireless S.a.R.L. for an undisclosed amount. This acquisition aims to bolster Rolling Wireless's position in the automotive connectivity market and support its growth in 5G and vehicle-to-everything (V2X) solutions. Rolling Wireless S.a.R.L. is a Luxembourg-based company specializing in automotive Wi-Fi modules.
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.
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.
The countries covered in the automotive wi-fi modules market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The automotive Wi-Fi modules market consists of revenues earned by entities by providing services such as network design and planning, technical support and troubleshooting, firmware and software updates, and analytics and reporting. The market value includes the value of related goods sold by the service provider or included within the service offering. The automotive Wi-Fi modules market also includes sales of infotainment system modules, in-car hotspot devices, telematics control units, and connectivity controllers. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Automotive Wi-Fi Modules Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on automotive Wi-Fi modules market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for automotive Wi-Fi modules ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The automotive Wi-Fi modules market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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