Global Cellular IoT Module and Chipset Market Tracker & Forecast (Q1/2024 Update)
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- 38 cellular IoT module brands
- 13 cellular IoT chipset companies
- 10 regions
- 10 technology splits
- 16 industry verticals
- 150 unique model-level chipsets
- 737 unique model-level modules
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The Global Cellular IoT Module and Chipset Market Tracker & Forecast – Update Q1/2024 represents the updated view of the cellular IoT module and chipset market for the 2018–2023 period, including a forecast for the 2024–2027 period.
The forecast is based on the information and data available until March 8, 2024. This analysis considers significant macro and micro-events, such as the global economic situation, the recovery scenarios for general chip shortages, and the rise of AI chip shortage. Additionally, we have considered technological advancements, such as LTE-Cat 1, Cat 1 bis, 5G, and 5G RedCap. We have included 5G RedCap as a distinct technology in this projection. We have conducted over 45+ meetings with module, chipset, and mobile network operators during MWC 2024 for feedback on our forecast. This research focuses only on cellular IoT chipsets embedded within IoT modules. It does not include cellular IoT chipsets embedded standalone in a device.
The global cellular IoT modules and chipsets market experienced an 18% decline in shipments in 2023. This dip affected established technologies such as 4G and LTE Cat 1. However, some bright spots defied the trend by showing shipment growth, such as 5G and LTE Cat-1 bis. This could indicate a potential market shift towards these next-generation options, which are expected to continue growing in the coming years. Furthermore, the global cellular IoT modules and chipsets market is expected to experience significant growth in the coming years. The emergence of 5G RedCap in 2024 promises a future of lower-cost and lower-power cellular IoT deployment.
Smart meters (which have their own market tracker) will continue to be the leading application in 2023, driven by initiatives for energy efficiency and smart grid adoption. Additionally, applications such as building and infrastructure and transportation, supply chain, and logistics are expected to recover from the 2023 dip and experience steady growth in the coming years. New construction projects and advancements in automation technologies could fuel this growth. Additionally, fixed wireless access (FWA) is expected to show significant development as it is widely used in 5G applications.
Geographically, China and North America will have the largest market shares, while Western Europe and APAC will also contribute substantial portions.
With diverse applications experiencing steady growth and 5G RedCap poised to unlock new possibilities, the cellular IoT module and chipset market is on the verge of an era brimming with innovation and widespread adoption.
Definitions
Connectivity chipset: A baseband processor embedded in a smart device (either directly or via a module) that enables and manages the connectivity of the device. There are two types:
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- Cellular chipsets based on the 3GPP architecture, such as 4G, 5G, LTE-M, and NB-IoT
- Non-cellular chipsets, such as Wi-Fi, Bluetooth, Sigfox, LoRa, and satellite
IoT connectivity module: Embedded hardware that includes connectivity chipsets and other components, such as CPU/MCU, SIM slot/eSIM, GNSS (optional), and more
Cellular IoT module: An IoT connectivity module embedded with a cellular chipset
LPWA dual mode: A cellular IoT module embedded with a cellular chipset that supports both LTE-M and NB-IoT
Table of contents
Global Cellular IoT Module & Chipset Tracker Forecast 2018-2027 – Q1/2024 Update (EXCEL)
- Intro
- Module & Chipset Pivot
- Module & Chipset Model Level
- Industry & Forecast Pivot
- Industry Vertical & Forecast
Included data
- 38 cellular IoT module brands
- 13 cellular IoT chipset companies
- 10 regions
- 10 technology splits
- 16 industry verticals
- 150 unique model-level chipsets
- 737 unique model-level modules
Related reading
A research article derived from this report will be published soon.
Companies mentioned
A selection of companies mentioned in the report.
ASR
China Mobile
Continental Automotive
Fibocom
Hisilicon
Intel
LG Innotek
Mediatek
Meig
Neoway
Qualcomm
Quectel
RENESAS
STMicroelectronics
SUNSEA AIOT
Sierra Wireless
Sony Altair
Telit Cinterion
UNISOC
Wistron Neweb
XinYi
u-blox
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