Global Cellular IoT Communication Module Market (2024 Edition): Analysis By Module Type (2G/3G, 4G/5G, NB-IoT/Cat-M, Other Modules), By Component, By End-use, By Region, By Country: Market Insights and Forecast (2020-2030)

Global Cellular IoT Communication Module Market (2024 Edition): Analysis By Module Type (2G/3G, 4G/5G, NB-IoT/Cat-M, Other Modules), By Component, By End-use, By Region, By Country: Market Insights and Forecast (2020-2030)

Executive Summary

Azoth Analytics has released a research report titled “Global Cellular IoT Communication Module Market (2024 Edition)” which provides a complete analysis of the Global Cellular IoT Communication Module market in terms of market segmentation By Module Type (2G/3G, 4G/5G, NB-IoT/Cat-M, Other Modules), By Component (Hardware, Software), By End-use (Industrial, Healthcare, Consumer Electronics, Retail, Other End-uses) for the historical period of 2020-2023, the estimates of 2024 and the forecast period of 2025-2030.

The report analyses the Cellular IoT Communication Module Market by Region (Americas, Europe, Asia Pacific, Middle East and Africa) and 10 Countries (United States, Canada, Brazil, Germany, United Kingdom, France, China, Japan, India and South Korea). The Global Cellular IoT Communication Module market showcased growth at a CAGR of 19.80% during 2020-2023. The market was valued at USD 41.43 Billion in 2023 which is expected to reach USD 161.29 Billion in 2030. Cellular IoT communication modules are in high demand due to the spread of IoT applications in a variety of industries, including smart cities, healthcare, agriculture, and automobiles. These modules offer a variety of IoT devices reliable and secure connectivity, enabling enterprises to collect, process, and use data instantly.

In the cellular IoT industry, collaborations are being encouraged by the growing ecosystem of IoT platforms, solutions providers, and system integrators. This is making it easier to design and implement integrated end-to-end solutions. Because of this, companies are investing more money on cellular IoT technologies in an effort to take advantage of emerging revenue sources.

Extending the potential uses of cellular IoT communication modules to more modern industries like smart cities, healthcare, and agriculture in addition to more established ones like manufacturing and logistics. Module makers can now access new revenue sources and expand their market footprint as a result of this diversification.

Bringing together modern characteristics like improved security standards, edge computing capabilities, and connectivity with other IoT devices to offer complete solutions that satisfy changing client demands. Focusing on plans for international growth and forming strategic alliances with IoT platform suppliers, telecom operators, and system integrators so as to take the advantage of market insights, networks, and consumers.

The global market for cellular IoT connection modules is experiencing significant growth, with notable acceleration in North America, Europe, and Asia Pacific. North America and Europe are leading the adoption curve due to their early investments in IoT infrastructure and supportive regulatory environments. Meanwhile, the rapid expansion of telecommunications infrastructure and increasing IoT adoption across industries are propelling the growth in Asia Pacific.

The initial supply disruptions caused by the COVID-19 pandemic and concurrent trade conflicts led manufacturers to overorder modules and chipsets in 2021 and 2022, resulting in a surplus in the market. Despite this, technologies such as 5G and LTE Cat-1 bis are being shipped at substantial rates in the global IoT module and chipset market. The anticipated growth is fueled by the advent of intelligent and AI-enabled cellular IoT modules, which enable data processing and decision-making closer to or at the edge. Innovations in cellular technology, including 5G and LTE-M/NB-IoT, are facilitating the cost-effective implementation of IoT applications. The increasing popularity of cellular IoT connection modules is driven by industry-specific applications such as proactive maintenance in manufacturing and remote patient monitoring in healthcare. Emerging markets offer significant growth opportunities for vendors of cellular IoT communication modules due to rising investments in IoT infrastructure and the growing demand for connected solutions.

Scope of the Report

• The report analyses the Cellular IoT Communication Module Market by Value (USD Billion).
• The report analyses the Cellular IoT Communication Module Market by Region (Americas, Europe, Asia Pacific, Middle East and Africa) and 10 Countries (United States, Canada, Brazil, Germany, United Kingdom, France, China, Japan, India and South Korea).
• The report presents the analysis of Cellular IoT Communication Module Market for the historical period of 2020-2023, the estimated year 2024 and the forecast period of 2025-2030.
• The report analyses the Cellular IoT Communication Module Market By Module Type (2G/3G, 4G/5G, NB-IoT/Cat-M, Other Modules).
• The report analyses the Cellular IoT Communication Module Market By Component (Hardware, Software).
• The report analyses the Cellular IoT Communication Module Market By End-use (Industrial, Healthcare, Consumer Electronics, Retail, Other End-uses).
• The key insights of the report have been presented through the frameworks of SWOT and Porter’s Five Forces Analysis. Also, the attractiveness of the market has been presented by region, by type, by deployment and by end user industry.
• Also, the major opportunities, trends, drivers, and challenges of the industry has been analyzed in the report.
• The report tracks competitive developments, strategies, mergers and acquisitions and new product development. The companies analysed in the report include Ericsson, Sequans Communication, MediaTek Inc., Qualcomm Incorporated, Texas Instruments, ZTE Corporation, Huawei Technologies Co., Ltd., Quectel Wireless Solutions Co., Ltd., Sierra Wireless and Telit Cliterion.