Low Power Wi-Fi Conversion Market Trends

Growth Drivers

• Growing Industrial Application- Industries such as manufacturing, agriculture, and logistics benefit from low-power Wi-Fi for efficient monitoring and control systems. 5G technology has the potential to bring about the next Industrial Revolution in the manufacturing sector. Smart factories supported by 5G could add between USD 1.5 to USD 2.2 trillion to the global economy annually by 2023. 5G can automate manual processes and improve production efficiency by powering mobile devices and robotics.
• Smart Home Technology- Growth in smart home applications, such as connected and home automation, fuels the demand for low-power Wi-Fi devices. Smart home products have been gaining popularity in developed countries, with 5-15% of households adopting these advanced systems. These products use IoT devices and AI technology to automate various tasks, such as controlling lighting and temperature, security systems, and entertainment. The early phase of adoption indicates a growing trend among homeowners to invest in smart technology, thus propelling the low power Wi-Fi conversion market growth. With the added convenience and energy efficiency benefits, it's no surprise that more people are making the switch to smart home products.
• Rising Battery Efficiency- As we become increasingly dependent on our mobile devices, the need for extended battery life has become paramount. This has led to a surge in demand for low-power Wi-Fi solutions that can help conserve battery life. With the increasing popularity of smart homes and the Internet of things (IoT), the demand for such solutions is expected to rise further. As a result, there is a growing need for developers to come up with innovative solutions that can address this challenge and provide users with a seamless and uninterrupted experience.

Challenges

• Interference and Range Limitations- Low-power Wi-Fi operates in unlicensed spectrum bands, leading to potential interference issues and limited range due to lower transmission power. This can affect connectivity and reliability, especially in crowded environments or over longer distances.
• Developing low-power Wi-Fi solutions with advanced features at an affordable price point can be challenging.
• The lack of uniformity can hinder seamless integration and widespread adoption.