The global cellular IoT module market revenue was around US$ 16.8 billion in 2022 and is estimated to reach US$ 111.9 billion by 2031, growing at a compound annual growth rate (CAGR) of 23.4% during the forecast period from 2023 to 2031.
Cellular IoT modules are a class of IoT connectivity technology that permits IoT devices to connect to the internet using the same network infrastructure as mobile phones. Cellular IoT modules are modules that are utilized to receive and transmit radio signals from cellular networks. Cellular modules support a range of 2G, 3G, 4G, and now 5G technologies.
Market Driving Factors
Implementation of cellular IoT modules in building automation and smart city infrastructure drives market growth. Building automation and smart city infrastructure are the two most important vertical deployments of cellular IoT modules. Battery-operated devices can now access the internet due to new cellular IoT technologies like NB-IoT and 5G. These technologies connect devices more effectively than the current 2G and 3G technologies, from smart street lighting to smart parking. Control devices and traffic sensing, streetlights, waste management devices, and parking management devices are significant cellular IoT applications in smart cities.
The telecommunications sector and digitalization are the main factors boosting the market growth. Medium and large-scale organizations widely adopt solutions for the Long-Term Evolution of Machines (LTE-M) and Narrowband Internet of Things (NB-IoT). These technologies can be integrated with the current mobile networks to offer enhanced device-level access and authentication, end-to-end security, and encrypted data transfer. The IoT's integration with embedded sensors, Bluetooth, and Wi-Fi in automotive systems are additional growth-promoting elements.
The surge in threats of cyber-attacks may hamper the market growth.
Regional Analysis
Asia-Pacific is predicted to dominate the market in terms of the market. This is due to nations such as India and China having a large collection of semiconductor vendors. Furthermore, the increasing influx of technology companies in the region and the surge in investment in IoT technology are expected to accelerate market growth.
Segmentation Insights
Component Insight
The hardware segment dominates the market in terms of shares. The entire cellular IoT ecosystem is a foundation comprised of hardware elements like cellular IoT modules and chipsets. Furthermore, the expanding use of cellular IoT modules in connected healthcare devices, wearables, smart city infrastructure, and building automation projects is predicted to propel the segment in the market.
Cellular Technology Insight
The 3G segment dominates the market in terms of shares over the forecast period. This is due to its stable connections and compatibility with IoT devices. 3G networks provide higher data transmission speeds, enabling enterprises to operate 3G-connected M2M modules in several applications such as self-checkout kiosks and inventory management. The bitrate generated by M2M applications using 3G networks is an important factor for customers.
Prominent Companies
Segmentation Outline
The global cellular IoT module market segmentation focuses on Components, Cellular Technology, End-Use Industry, and Region.
By Component
By Cellular Technology
By End Use Industry
By Region
[TABLE OF CONTENTS]
1 INTRODUCTION OF GLOBAL CELLULAR IOT MODULE MARKET
1.1 OVERVIEW OF THE MARKET
1.2 SCOPE OF REPORT
1.3 ASSUMPTIONS
2 EXECUTIVE SUMMARY: CELLULAR IOT MODULE MARKET
3 RESEARCH METHODOLOGY
3.1 DATA MINING
3.2 VALIDATION
3.3 PRIMARY INTERVIEWS
3.4 LIST OF DATA SOURCES
3.5 ANALYST TOOLS AND MODELS
4 GLOBAL CELLULAR IOT MODULE MARKET OUTLOOK
4.1 OVERVIEW
4.2 MARKET DYNAMICS AND TRENDS
4.2.1 DRIVERS
4.2.2 RESTRAINTS
4.2.3 OPPORTUNITIES
4.3 PORTERS FIVE FORCE ANALYSIS
4.4 VALUE CHAIN ANALYSIS
4.5 MARKET GROWTH AND OUTLOOK
4.5.1 PRICE TREND ANALYSIS
4.5.2 OPPORTUNITY SHARE
5 GLOBAL CELLULAR IOT MODULE MARKET, BY COMPONENT
5.1 OVERVIEW
5.2 HARDWARE
5.3 SOFTWARE
6 GLOBAL CELLULAR IOT MODULE MARKET, BY CELLULAR TECHNOLOGY
6.1 OVERVIEW
6.2 3G
6.3 4G
6.4 5G
6.5 LTE-M
6.6 NB-IOT
6.7 OTHERS
7 GLOBAL CELLULAR IOT MODULE MARKET, BY END USE INDUSTRY
7.1 OVERVIEW
7.2 AGRICULTURE
7.3 HEALTHCARE
7.4 RETAIL
7.5 ENERGY
7.6 AUTOMOTIVE & TRANSPORTATION
7.7 INFRASTRUCTURE
7.8 OTHERS
8 GLOBAL CELLULAR IOT MODULE MARKET, BY GEOGRAPHY
8.1 OVERVIEW
8.2 NORTH AMERICA
8.2.1 NORTH AMERICA MARKET SNAPSHOT
8.2.2 U.S.
8.2.3 CANADA
8.2.4 MEXICO
8.3 EUROPE
8.3.1 EUROPE MARKET SNAPSHOT
8.3.2 WESTERN EUROPE
8.3.2.1 THE UK
8.3.2.2 GERMANY
8.3.2.3 FRANCE
8.3.2.4 ITALY
8.3.2.5 SPAIN
8.3.2.6 REST OF WESTERN EUROPE
8.3.3 EASTERN EUROPE
8.3.3. 1 POLAND
8.3.3.2 RUSSIA
8.3.3.3 REST OF EASTERN EUROPE
8.4 ASIA PACIFIC
8.4.1 ASIA PACIFIC MARKET SNAPSHOT
8.4.2 CHINA
8.4.3 JAPAN
8.4.4 INDIA
8.4.5 AUSTRALIA & NEW ZEALAND
8.4.6 ASEAN
8.4.7 REST OF ASIA PACIFIC
8.5 MIDDLE EAST & AFRICA
8.5.1 MIDDLE EAST & AFRICA MARKET SNAPSHOT
8.5.2 UAE
8.5.3 SAUDI ARABIA
8.5.4 SOUTH AFRICA
8.5.5 REST OF MEA
8.6 SOUTH AMERICA
8.6.1 SOUTH AMERICA MARKET SNAPSHOT
8.6.2 BRAZIL
8.6.3 ARGENTINA
8.6.4 REST OF SOUTH AMERICA
9 GLOBAL CELLULAR IOT MODULE MARKET COMPETITIVE LANDSCAPE
9.1 OVERVIEW
9.2 COMPANY MARKET RANKING
9.3 KEY DEVELOPMENT STRATEGIES
9.4 COMPETITIVE DASHBOARD
9.5 PRODUCT MAPPING
9.6 TOP PLAYER POSITIONING, 2022
9.7 COMPETITIVE HEATMAP
9.8 TOP WINNING STRATEGIES
10 COMPANY PROFILES
10.1 SIERRA WIRELESS
10.1.1 OVERVIEW
10.1.2 FINANCIAL PERFORMANCE
10.1.3 PRODUCT OUTLOOK
10.1.4 KEY DEVELOPMENTS
10.1.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.2 HUAWEI TECHNOLOGIES CO., LTD
10.2.1 OVERVIEW
10.2.2 FINANCIAL PERFORMANCE
10.2.3 PRODUCT OUTLOOK
10.2.4 KEY DEVELOPMENTS
10.2.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.3 VODAFONE GROUP PLC
10.3.1 OVERVIEW
10.3.2 FINANCIAL PERFORMANCE
10.3.3 PRODUCT OUTLOOK
10.3.4 KEY DEVELOPMENTS
10.3.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.4 SEQUANS COMMUNICATIONS S.A.
10.4.1 OVERVIEW
10.4.2 FINANCIAL PERFORMANCE
10.4.3 PRODUCT OUTLOOK
10.4.4 KEY DEVELOPMENTS
10.4.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.5 ZTE CORPORATION
10.5.1 OVERVIEW
10.5.2 FINANCIAL PERFORMANCE
10.5.3 PRODUCT OUTLOOK
10.5.4 KEY DEVELOPMENTS
10.5.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.6 GEMALTO N.V.
10.6.1 OVERVIEW
10.6.2 FINANCIAL PERFORMANCE
10.6.3 PRODUCT OUTLOOK
10.6.4 KEY DEVELOPMENTS
10.6.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.7 TELIT COMMUNICATIONS PLC
10.7.1 OVERVIEW
10.7.2 FINANCIAL PERFORMANCE
10.7.3 PRODUCT OUTLOOK
10.7.4 KEY DEVELOPMENTS
10.7.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.8 U-BLOX
10.8.1 OVERVIEW
10.8.2 FINANCIAL PERFORMANCE
10.8.3 PRODUCT OUTLOOK
10.8.4 KEY DEVELOPMENTS
10.8.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.9 ERICSSON AB
10.9.1 OVERVIEW
10.9.2 FINANCIAL PERFORMANCE
10.9.3 PRODUCT OUTLOOK
10.9.4 KEY DEVELOPMENTS
10.9.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.10 QUALCOMM TECHNOLOGIES, INC
10.10.1 OVERVIEW
10.10.2 FINANCIAL PERFORMANCE
10.10.3 PRODUCT OUTLOOK
10.10.4 KEY DEVELOPMENTS
10.10.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.11 ARM LIMITED
10.11.1 OVERVIEW
10.11.2 FINANCIAL PERFORMANCE
10.11.3 PRODUCT OUTLOOK
10.11.4 KEY DEVELOPMENTS
10.11.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.12 MEDIATEK INC
10.12.1 OVERVIEW
10.12.2 FINANCIAL PERFORMANCE
10.12.3 PRODUCT OUTLOOK
10.12.4 KEY DEVELOPMENTS
10.12.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.13 TEXAS INSTRUMENTS INCORPORATED
10.13.1 OVERVIEW
10.13.2 FINANCIAL PERFORMANCE
10.13.3 PRODUCT OUTLOOK
10.13.4 KEY DEVELOPMENTS
10.13.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
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