The cellular IoT Module market is projected to have a CAGR of 23.4% by 2033. According to FMI, the market is expected to expand from US$ 16.88 Billion in 2023 to US$ 20.83 Billion by 2033.
The cellular IoT module market is expected to be driven by the demand for devices that are large, high-density, low-power, and affordable. During the forecast period, demand for cellular IoT modules is increasing due to their ability to control with native infrastructure and networking technologies, such as Wi-Fi and Bluetooth.
Additionally, developments in the huge adoption of LTE and technological advancements inside the IoT system support the adoption of cellular IoT modules. The demand for vehicle telematics is expected to increase quickly as a result of the implementation of IoT and telematics solutions to monitor instrumentation and on-road assets, due to the limited supply of technicians.
| Attributes | Details |
|---|---|
| Cellular IoT Module Market CAGR (2023 to 2033) | 23.4% |
| Cellular IoT Module Market Size (2023) | US$ 16.88 Billion |
| Cellular IoT Module Market Size (2033) | US$ 20.83 Billion |
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The adoption trends for cellular IoT modules in healthcare facilities are driven by the growing demand for interconnected healthcare systems, as well as the need to reduce hospital admissions, medical errors, and rising healthcare costs.
Government programs to support IoT in healthcare and the rising popularity of mHealth services are also anticipated to fuel the market's expansion. The rising number of healthcare facilities and the rising demand for healthcare services are affecting the overall cellular IoT module market share.
Due to the rising demand for connected vehicles, the cellular IoT module market in the automotive sector is anticipated to expand significantly throughout the forecast period. Given that they allow vehicles to communicate with one another and with external entities, connected cars are predicted to bring about significant changes in the automotive industry.
This is likely to increase security, ease road congestion, and make transportation more effective. Firstly, in response to the rising demand for connected cars, there is a significant need for cellular IoT modules in automotive applications.
Secondly, the need for cellular IoT modules in automotive applications is anticipated to increase, along with the demand for advanced driver assistance systems (ADAS). Lastly, it is anticipated that the rising need for telematics and infotainment systems would further propel the cellular IoT module market expansion.
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The adoption of cellular IoT modules in the logistics industry is anticipated to rise in response to the growing necessity for real-time tracking of shipments. Furthermore, the market is anticipated to increase as a result of the rising trends in automation and remote monitoring.
The logistics industry's growing applications of modules are predicted to present a wide range of opportunities for cellular IoT module market participants. In addition, efforts made by various governments to encourage applications in the logistics industry are anticipated to assist market expansion.
5G networks are the trending revolution in the market. It gives cellular IoT module market players a larger scope during the forecast period. Moreover, sales revenue in the cellular IoT module market industry expanded at a 17% CAGR from 2018 to 2022. According to FMI, by 2033, the market CAGR is likely to rise by 23.4%.
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Currently, the telecom sector enhances the cellular IoT module market outlook. The rise of the market is also supported by speedy digitization and rising automation across sectors. Many medium-sized and large-scale organizations are implementing solutions for the Narrowband Internet of Things (NB-IoT) and Long-Term Evolution for Machines (LTE-M).
Moreover, these technologies can be incorporated with the present mobile networks to provide enhanced end-to-end security, device-level access and authentication, and encrypted data transport.
The components and tools required for the cellular IoT module are contained in a connected ecosystem. They assist in streamlining applications for numerous crucial businesses, however, they are susceptible to hackers.
It has become simpler for hackers to launch cyberattacks utilizing cellular and IoT vulnerabilities as a result of the growth of IoT devices on cellular networks. Most cellular IoT devices depend on cloud networks to function properly.
Additionally, cellular IoT security strategy must include cloud-based security since unsecured cloud infrastructure increases the risk of data theft and device piracy. For instance, a drone used for delivery or surveillance can process information like navigational directions and imaging data on its own. However, it might send any recorded videos or logs to a cloud server. There may be a threat to the network or other devices.
During the projected period, a CAGR of 26.5% is anticipated for the hardware segment.
The largest portion of the global cellular IoT market is owned by the hardware sector. Hardware components like chipsets and cellular IoT modules serve as the framework for the complete cellular IoT ecosystem.
Additionally, the use of cellular IoT modules in wearables, connected healthcare devices, smart city infrastructure, and building automation projects is expected to increase, which fuels the expansion further.
During the forecast period, the energy industry is anticipated to increase and had the highest CAGR of 28.1%. It is projected that cellular technologies would become more popular in applications needing large deployments and dense endpoint connections.
Therefore, the sectors of manufacturing, utilities, and energy stand to benefit the most. The technology is being used in smarter city applications, which is expanding the opportunities in the market.
Despite the lockdowns, China remained the largest IoT market in the world, accounting for more than half of the demand. Sales of cellular IoT modules in the nation slightly increased from earlier months this year, propelled by lockdown-triggered applications like smart locks, security cameras, and routers.
The Chinese companies have gotten bigger, making it very difficult for international brands to grow in silos. This is a vital phase for the IoT module market. Again, despite growing from a lower base, India's IoT module market experienced the fastest growth (+264% YoY), driven by smart meters, telematics, POS, and automotive applications.
By providing for its enormous customer base of current and potential customers, as well as its extensive cellular network, China Mobile maintained its fourth place in the global cellular IoT module market.
The operator and Xinyi Semiconductor collaborated to concentrate on lower-end applications. Both have benefited from being able to target 2G to 4G IoT applications in transition.
Moreover, the world's largest operator is able to scale its end-to-end 5G IoT solutions quickly over the coming quarters due to China Mobile's expanding 5G footprint and partnerships with companies across the value chain.
Due to the strong pursuit of IoT implementation projects by solution vendors and component manufacturers, North America now holds the greatest share of the worldwide cellular IoT module market.
The ability of industries to quickly adopt smart and connected devices, as well as the frequently changing nature of the technology landscape, are key growth drivers for the area.
Over the course of the projected period, Europe's market for cellular IoT modules is anticipated to rise impressively. This is mostly due to the region's growing demand for practical and affordable IoT solutions.
The region's expanding use of 5G technology is anticipated to fuel additional market expansion. High data rates, better latency, and higher coverage provided by 5G technology are projected to increase demand for cellular IoT modules.
Additionally, the presence of a sizable population of tech-savvy consumers and the growing trend of digitization in a number of the region's countries are anticipated to fuel market growth. The demand for cellular IoT modules in Europe is anticipated to grow at a faster rate due to the rising demand for connected products.
Key Players Count on Telematics and Smart Grid to Have a Competitive Advantage
Telematics solution providers now include cellular IoT modules in their product lines, making it simpler for fleet managers and OEMs of off-highway vehicles to collect and analyze data to spot important trends and problems in the field's instrumentation usage.
Additionally, it is anticipated that a number of factors, including strong security, ubiquitous quality, and resilient networks, energize the industry over the ensuing many years.
Due to their extensive investments in the telecommunications industry and pertinent smart grid connectivity, major players in the cellular IoT module market have a sizable position.
The cellular IoT module market is estimated to record a CAGR of 23.4% during the forecast period.
The cellular IoT module market size is predicted to be valued at US$ 20.83 Billion by 2033.
The cellular IoT module market share is valued at US$ 16.88 Million in 2023.
By 2033, Asia Pacific is anticipated to hold the largest market share of cellular IoT modules.
The hardware dominates the cellular IoT module market by 2033.
1. Executive Summary | Cellular IoT Module Market 1.1. Global Market Outlook 1.2. Demand-side Trends 1.3. Supply-side Trends 1.4. Technology Roadmap Analysis 1.5. Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 3. Market Background 3.1. Market Dynamics 3.1.1. Drivers 3.1.2. Restraints 3.1.3. Opportunity 3.1.4. Trends 3.2. Scenario Forecast 3.2.1. Demand in Optimistic Scenario 3.2.2. Demand in Likely Scenario 3.2.3. Demand in Conservative Scenario 3.3. Opportunity Map Analysis 3.4. Investment Feasibility Matrix 3.5. PESTLE and Porter’s Analysis 3.6. Regulatory Landscape 3.6.1. By Key Regions 3.6.2. By Key Countries 3.7. Regional Parent Market Outlook 4. Global Market Analysis 2017 to 2021 and Forecast, 2022 to 2032 4.1. Historical Market Size Value (US$ Million) Analysis, 2017 to 2021 4.2. Current and Future Market Size Value (US$ Million) Projections, 2022 to 2032 4.2.1. Y-o-Y Growth Trend Analysis 4.2.2. Absolute $ Opportunity Analysis 5. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Component 5.1. Introduction / Key Findings 5.2. Historical Market Size Value (US$ Million) Analysis By Component, 2017 to 2021 5.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Component, 2022 to 2032 5.3.1. Hardware 5.3.2. Software 5.3.3. Services 5.4. Y-o-Y Growth Trend Analysis By Component, 2017 to 2021 5.5. Absolute $ Opportunity Analysis By Component, 2022 to 2032 6. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Type 6.1. Introduction / Key Findings 6.2. Historical Market Size Value (US$ Million) Analysis By Type, 2017 to 2021 6.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Type, 2022 to 2032 6.3.1. 4G 6.3.2. 5G 6.3.3. LTE–M 6.3.4. NB–LTE–M 6.3.5. NB–IoT 6.4. Y-o-Y Growth Trend Analysis By Type, 2017 to 2021 6.5. Absolute $ Opportunity Analysis By Type, 2022 to 2032 7. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By End-User 7.1. Introduction / Key Findings 7.2. Historical Market Size Value (US$ Million) Analysis By End-User, 2017 to 2021 7.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By End-User, 2022 to 2032 7.3.1. Retail 7.3.2. Energy 7.3.3. Healthcare 7.3.4. Manufacturing 7.3.5. Consumer Electronics 7.3.6. Automotive & Transportation 7.3.7. Others 7.4. Y-o-Y Growth Trend Analysis By End-User, 2017 to 2021 7.5. Absolute $ Opportunity Analysis By End-User, 2022 to 2032 8. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Region 8.1. Introduction 8.2. Historical Market Size Value (US$ Million) Analysis By Region, 2017 to 2021 8.3. Current Market Size Value (US$ Million) Analysis and Forecast By Region, 2022 to 2032 8.3.1. North America 8.3.2. Latin America 8.3.3. Europe 8.3.4. South Asia 8.3.5. East Asia 8.3.6. Oceania 8.3.7. Middle East and Africa(MEA) 8.4. Market Attractiveness Analysis By Region 9. North America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 9.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2017 to 2021 9.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2022 to 2032 9.2.1. By Country 9.2.1.1. USA 9.2.1.2. Canada 9.2.2. By Component 9.2.3. By Type 9.2.4. By End-User 9.3. Market Attractiveness Analysis 9.3.1. By Country 9.3.2. By Component 9.3.3. By Type 9.3.4. By End-User 9.4. Key Takeaways 10. Latin America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 10.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2017 to 2021 10.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2022 to 2032 10.2.1. By Country 10.2.1.1. Brazil 10.2.1.2. Mexico 10.2.1.3. Rest of Latin America 10.2.2. By Component 10.2.3. By Type 10.2.4. By End-User 10.3. Market Attractiveness Analysis 10.3.1. By Country 10.3.2. By Component 10.3.3. By Type 10.3.4. By End-User 10.4. Key Takeaways 11. Europe Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 11.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2017 to 2021 11.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2022 to 2032 11.2.1. By Country 11.2.1.1. Germany 11.2.1.2. United Kingdom 11.2.1.3. France 11.2.1.4. Spain 11.2.1.5. Italy 11.2.1.6. Rest of Europe 11.2.2. By Component 11.2.3. By Type 11.2.4. By End-User 11.3. Market Attractiveness Analysis 11.3.1. By Country 11.3.2. By Component 11.3.3. By Type 11.3.4. By End-User 11.4. Key Takeaways 12. South Asia Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 12.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2017 to 2021 12.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2022 to 2032 12.2.1. By Country 12.2.1.1. India 12.2.1.2. Malaysia 12.2.1.3. Singapore 12.2.1.4. Thailand 12.2.1.5. Rest of South Asia 12.2.2. By Component 12.2.3. By Type 12.2.4. By End-User 12.3. Market Attractiveness Analysis 12.3.1. By Country 12.3.2. By Component 12.3.3. By Type 12.3.4. By End-User 12.4. Key Takeaways 13. East Asia Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 13.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2017 to 2021 13.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2022 to 2032 13.2.1. By Country 13.2.1.1. China 13.2.1.2. Japan 13.2.1.3. South Korea 13.2.2. By Component 13.2.3. By Type 13.2.4. By End-User 13.3. Market Attractiveness Analysis 13.3.1. By Country 13.3.2. By Component 13.3.3. By Type 13.3.4. By End-User 13.4. Key Takeaways 14. Oceania Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 14.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2017 to 2021 14.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2022 to 2032 14.2.1. By Country 14.2.1.1. Australia 14.2.1.2. New Zealand 14.2.2. By Component 14.2.3. By Type 14.2.4. By End-User 14.3. Market Attractiveness Analysis 14.3.1. By Country 14.3.2. By Component 14.3.3. By Type 14.3.4. By End-User 14.4. Key Takeaways 15. MEA Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 15.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2017 to 2021 15.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2022 to 2032 15.2.1. By Country 15.2.1.1. GCC Countries 15.2.1.2. South Africa 15.2.1.3. Israel 15.2.1.4. Rest of Middle East and Africa(MEA) 15.2.2. By Component 15.2.3. By Type 15.2.4. By End-User 15.3. Market Attractiveness Analysis 15.3.1. By Country 15.3.2. By Component 15.3.3. By Type 15.3.4. By End-User 15.4. Key Takeaways 16. Key Countries Market Analysis 16.1. USA 16.1.1. Pricing Analysis 16.1.2. Market Share Analysis, 2021 16.1.2.1. By Component 16.1.2.2. By Type 16.1.2.3. By End-User 16.2. Canada 16.2.1. Pricing Analysis 16.2.2. Market Share Analysis, 2021 16.2.2.1. By Component 16.2.2.2. By Type 16.2.2.3. By End-User 16.3. Brazil 16.3.1. Pricing Analysis 16.3.2. Market Share Analysis, 2021 16.3.2.1. By Component 16.3.2.2. By Type 16.3.2.3. By End-User 16.4. Mexico 16.4.1. Pricing Analysis 16.4.2. Market Share Analysis, 2021 16.4.2.1. By Component 16.4.2.2. By Type 16.4.2.3. By End-User 16.5. Germany 16.5.1. Pricing Analysis 16.5.2. Market Share Analysis, 2021 16.5.2.1. By Component 16.5.2.2. By Type 16.5.2.3. By End-User 16.6. United Kingdom 16.6.1. Pricing Analysis 16.6.2. Market Share Analysis, 2021 16.6.2.1. By Component 16.6.2.2. By Type 16.6.2.3. By End-User 16.7. France 16.7.1. Pricing Analysis 16.7.2. Market Share Analysis, 2021 16.7.2.1. By Component 16.7.2.2. By Type 16.7.2.3. By End-User 16.8. Spain 16.8.1. Pricing Analysis 16.8.2. Market Share Analysis, 2021 16.8.2.1. By Component 16.8.2.2. By Type 16.8.2.3. By End-User 16.9. Italy 16.9.1. Pricing Analysis 16.9.2. Market Share Analysis, 2021 16.9.2.1. By Component 16.9.2.2. By Type 16.9.2.3. By End-User 16.10. India 16.10.1. Pricing Analysis 16.10.2. Market Share Analysis, 2021 16.10.2.1. By Component 16.10.2.2. By Type 16.10.2.3. By End-User 16.11. Malaysia 16.11.1. Pricing Analysis 16.11.2. Market Share Analysis, 2021 16.11.2.1. By Component 16.11.2.2. By Type 16.11.2.3. By End-User 16.12. Singapore 16.12.1. Pricing Analysis 16.12.2. Market Share Analysis, 2021 16.12.2.1. By Component 16.12.2.2. By Type 16.12.2.3. By End-User 16.13. Thailand 16.13.1. Pricing Analysis 16.13.2. Market Share Analysis, 2021 16.13.2.1. By Component 16.13.2.2. By Type 16.13.2.3. By End-User 16.14. China 16.14.1. Pricing Analysis 16.14.2. Market Share Analysis, 2021 16.14.2.1. By Component 16.14.2.2. By Type 16.14.2.3. By End-User 16.15. Japan 16.15.1. Pricing Analysis 16.15.2. Market Share Analysis, 2021 16.15.2.1. By Component 16.15.2.2. By Type 16.15.2.3. By End-User 16.16. South Korea 16.16.1. Pricing Analysis 16.16.2. Market Share Analysis, 2021 16.16.2.1. By Component 16.16.2.2. By Type 16.16.2.3. By End-User 16.17. Australia 16.17.1. Pricing Analysis 16.17.2. Market Share Analysis, 2021 16.17.2.1. By Component 16.17.2.2. By Type 16.17.2.3. By End-User 16.18. New Zealand 16.18.1. Pricing Analysis 16.18.2. Market Share Analysis, 2021 16.18.2.1. By Component 16.18.2.2. By Type 16.18.2.3. By End-User 16.19. GCC Countries 16.19.1. Pricing Analysis 16.19.2. Market Share Analysis, 2021 16.19.2.1. By Component 16.19.2.2. By Type 16.19.2.3. By End-User 16.20. South Africa 16.20.1. Pricing Analysis 16.20.2. Market Share Analysis, 2021 16.20.2.1. By Component 16.20.2.2. By Type 16.20.2.3. By End-User 16.21. Israel 16.21.1. Pricing Analysis 16.21.2. Market Share Analysis, 2021 16.21.2.1. By Component 16.21.2.2. By Type 16.21.2.3. By End-User 17. Market Structure Analysis 17.1. Competition Dashboard 17.2. Competition Benchmarking 17.3. Market Share Analysis of Top Players 17.3.1. By Regional 17.3.2. By Component 17.3.3. By Type 17.3.4. By End-User 18. Competition Analysis 18.1. Competition Deep Dive 18.1.1. CommSolid GmbH 18.1.1.1. Overview 18.1.1.2. Product Portfolio 18.1.1.3. Profitability by Market Segments 18.1.1.4. Sales Footprint 18.1.1.5. Strategy Overview 18.1.1.5.1. Marketing Strategy 18.1.2. Sequans Communications 18.1.2.1. Overview 18.1.2.2. Product Portfolio 18.1.2.3. Profitability by Market Segments 18.1.2.4. Sales Footprint 18.1.2.5. Strategy Overview 18.1.2.5.1. Marketing Strategy 18.1.3. ZTE Corporation 18.1.3.1. Overview 18.1.3.2. Product Portfolio 18.1.3.3. Profitability by Market Segments 18.1.3.4. Sales Footprint 18.1.3.5. Strategy Overview 18.1.3.5.1. Marketing Strategy 18.1.4. Telit Communications PLC 18.1.4.1. Overview 18.1.4.2. Product Portfolio 18.1.4.3. Profitability by Market Segments 18.1.4.4. Sales Footprint 18.1.4.5. Strategy Overview 18.1.4.5.1. Marketing Strategy 18.1.5. MediaTek Inc. 18.1.5.1. Overview 18.1.5.2. Product Portfolio 18.1.5.3. Profitability by Market Segments 18.1.5.4. Sales Footprint 18.1.5.5. Strategy Overview 18.1.5.5.1. Marketing Strategy 18.1.6. U-Blox Holding AG 18.1.6.1. Overview 18.1.6.2. Product Portfolio 18.1.6.3. Profitability by Market Segments 18.1.6.4. Sales Footprint 18.1.6.5. Strategy Overview 18.1.6.5.1. Marketing Strategy 18.1.7. Sierra Wireless 18.1.7.1. Overview 18.1.7.2. Product Portfolio 18.1.7.3. Profitability by Market Segments 18.1.7.4. Sales Footprint 18.1.7.5. Strategy Overview 18.1.7.5.1. Marketing Strategy 18.1.8. Gemalto N.V. 18.1.8.1. Overview 18.1.8.2. Product Portfolio 18.1.8.3. Profitability by Market Segments 18.1.8.4. Sales Footprint 18.1.8.5. Strategy Overview 18.1.8.5.1. Marketing Strategy 18.1.9. Texas Instruments Incorporated 18.1.9.1. Overview 18.1.9.2. Product Portfolio 18.1.9.3. Profitability by Market Segments 18.1.9.4. Sales Footprint 18.1.9.5. Strategy Overview 18.1.9.5.1. Marketing Strategy 18.1.10. Qualcomm Technologies Inc. 18.1.10.1. Overview 18.1.10.2. Product Portfolio 18.1.10.3. Profitability by Market Segments 18.1.10.4. Sales Footprint 18.1.10.5. Strategy Overview 18.1.10.5.1. Marketing Strategy 19. Assumptions & Acronyms Used 20. Research Methodology
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Cellular IoT Module Market
