IoT News - Global Cellular IoT Module Shipments up 50% YoY in Q1 2021 as Demand for 5G, LTE-Cat 1 Modules Soars iotbusinessnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from iotbusinessnews.com Daily Mail and Mail on Sunday newspapers.
North America will overtake Europe in 2024 to become the second largest market after China.
5G will lead in terms of value while NB-IoT will lead in terms of volume in the market.
Quectel and Qualcomm will maintain their top positions in cellular IoT module vendor and chipset player market shares respectively.
Global cellular IoT module shipments will cross 780 million units in 2024 to reach $11.5 billion in revenues, according to the latest research from Counterpoint’s Global Cellular IoT Module and Chipset Forecast.
The COVID-19 outbreak and recent supply shortages in semiconductor material have adversely affected the
cellular module market. However, the pandemic has accelerated the pace of IoT adoption, with organizations prioritizing it as a path towards digitalization. NB-IoT will lead the
global cellular IoT module revenue.
Automotive, Router/CPE and Enterprise are the
top three applications for cellular IoT modules globally in terms of revenue.
Qualcomm dominated the global cellular
IoT module chipset market, capturing almost half of the market in terms of shipment volumes.
Global cellular IoT module revenue increased 8% QoQ but decreased 1% YoY during Q3 2020, according to the latest research by Counterpoint Global Cellular IoT Module and Chipset Tracker.
The demand is yet to recover fully from the impact of COVID-19. However, all regions except the Middle East and Africa (MEA), Latin America and South Korea reported an increase in revenue. NB-IoT modules were the fastest-growing cellular IoT module segment and contributed to a record 30% of the global cellular IoT module shipment volumes in Q3 2020.