Global Cellular IoT Module and Chipset Market Tracker & Forecast (Q2/2024 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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About the product
The Global Cellular IoT Module and Chipset Market Tracker & Forecast (Update Q2/2024) represents the updated view of the cellular IoT module and chipset market for the 2018–2024 period, including a forecast for the 2024–2028 period.
This comprehensive forecast by IoT Analytics incorporates the latest information available through May 31, 2024. The analysis considers both macro and micro trends that impact the market, including global economic conditions, recovery scenarios for the general chip shortage, and the emerging challenge of AI chip scarcity. Additionally, IoT Analytics factors in the technological advancements of LTE-Cat 1, Cat 1 bis, 5G, and 5G RedCap (included in the tracker as a distinct factor).
To ensure the accuracy of this forecast, IoT Analytics conducted in-depth research through over 70 interviews with key industry players – module, chipset, and mobile network operators – at MWC, Embedded World, and Hannover Messe 2024. It’s important to note that this report focuses exclusively on cellular IoT chipsets embedded within IoT modules, excluding embedded standalone cellular IoT chipsets in devices.
Cellular IoT module and chipset market
The cellular IoT module and chipset market is growing with significant momentum projected for the coming years. Q1 2024 saw a 4% year-over-year (YoY) and 2% quarter-over-quarter (QoQ) increase in shipments. Technologies such as 5G and LTE Cat-1 bis saw a notable increase while the established 4G remained stagnant. This suggests a potential shift towards these next-generation options, which are expected to continue growing in the upcoming 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 2024, 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 2018-2028 – Q2/2024 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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