Global IoT Communication Module Market Growth (Status and Outlook) 2025-2031

Global IoT Communication Module Market Growth (Status and Outlook) 2025-2031

The global IoT Communication Module market size is predicted to grow from US$ 6305 million in 2025 to US$ 12490 million in 2031; it is expected to grow at a CAGR of 12.1% from 2025 to 2031.

The IoT Communication Module market covers Cellular Communication Module, Non-cellular Communication Module, etc. The typical players include Quectel, Sunsea Group, Sierra Wireless, Telit, etc.

IoT communication modules are key components for achieving network communication between IoT devices. With the continuous expansion of application scenarios such as smart manufacturing, smart cities, and smart homes, the demand for IoT modules will continue to grow. In particular, the widespread application of 5G technology has driven the IoT module industry to usher in a new wave of technological iteration.

The IoT module market is highly competitive, and major manufacturers include Quectel Communications, Fibocom, Neoway Technology, and Gosuncn. These manufacturers have occupied a certain share in the market and have stood out from the competition with their respective technological advantages, product performance, and market strategies. At present, there are two main business strategies in the IoT module industry. One is to win by breadth, by providing standardized low-priced modules to seize market share; the other is to win by specialization, by building a moat through technical or channel advantages in certain segments. These two strategies have their own advantages and disadvantages, and manufacturers need to choose appropriate market strategies based on their actual conditions.

According to types, the most proportion of the IoT communication module is cellular communication module, taking about 82%. The most proportion of Global IoT Communication Module is used for city Service IoT and the proportion is about 49% .

Market driving factors

Technological progress: With the rapid development and commercialization of new generation communication technologies such as 5G and 6G, the IoT module industry will usher in a new wave of technological iteration. The application of these new technologies will improve the performance of IoT modules, reduce power consumption and costs, and promote the rapid development of the market.

Policy support: Governments of various countries are actively promoting the development of the Internet of Things industry and have issued a series of relevant policies and plans. The implementation of these policies will provide strong support for the Internet of Things module market.

Market demand: With the continuous expansion of Internet of Things application scenarios and the expansion of market scale, the market demand for Internet of Things modules will continue to grow. Especially in the fields of smart manufacturing, smart cities, smart homes, etc., the application prospects of Internet of Things modules are broad.

LPI (LP Information)' newest research report, the “IoT Communication Module Industry Forecast” looks at past sales and reviews total world IoT Communication Module sales in 2024, providing a comprehensive analysis by region and market sector of projected IoT Communication Module sales for 2025 through 2031. With IoT Communication Module sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world IoT Communication Module industry.

This Insight Report provides a comprehensive analysis of the global IoT Communication Module landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyses the strategies of leading global companies with a focus on IoT Communication Module portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global IoT Communication Module market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for IoT Communication Module and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global IoT Communication Module.

This report presents a comprehensive overview, market shares, and growth opportunities of IoT Communication Module market by product type, application, key players and key regions and countries.

Segmentation by Type:
Cellular Communication Module
Non-cellular Communication Module

Segmentation by Application:
City Service IoT
Consumer IoT
Industrial Internet of Things
Others

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
Quectel
Sunsea Group
Sierra Wireless
Telit
Gemalto
Fibocom
U-Blox
Neoway Technology
Gosuncn
Huawei
LG Innotek
Nanjing Zhongxing IoT Technology

Please note: The report will take approximately 2 business days to prepare and deliver.