Report: Global cellular IoT module shipments would cross a revenue of more than 11.5 billion dollars with almost 780 million units in the year 2024

The pandemic situation has disturbed the demand and supply in the market due to which the supply of semiconductor material is short which can badly affect the cellular module market. However, this pandemic outbreak has boosted up the pace of IoT usage, many organizations are thinking that it is a new path of digitalization. Narrowband Internet of Things (NB-IoT) could lead the cellular IoT module shipment in terms of volume in the next three years. 4G and 5G are also standing behind NB-IoT but they could lead in terms of their value in the market. LTE-M only stands good in the region of North America, Japan, and Australia. Quectel and Qualcomm will maintain their top position in the market share.

Cellular IoT module shipment will reach around 780 million units in the next three years with an income of more than 11 billion dollars according to the research of counterpoint’s global cellular IoT module and Chipset forecast.

Associate Director Jan Stryjak made a report saying that China will be at the top of the regional dynamic list in the cellular IoT module market. Obviously, it is possible due to the biggest markets of China and their population is also a factor. North America is a second which has also crossed Europe in module shipment. However, India is also becoming an emerging market due to a major increase of 53% in cellular module shipment. One of the reasons why is this percent has increased in India is telecom operators like Jio, Airtel and BSNL are playing their role in the growth of cellular module shipment. Developed countries like the US, Japan, and South Korea are interested in 5G. Whereas, some Asian countries like India and Russia, Africa, and the Middle East will invest mostly in LPWA technologies.

China is the key player in the market cellular module shipment while holding a share of around 50% in the next three years. Neoway and Meig are trying to work globally in a variety of products, and cloud services after grown successful in the hometown China.

A researcher named Soumen Mandal said that the revenue of 5G would cross the revenue of 4G in the next year because the average selling rate of 5G is decreasing day by day, therefore, the market is shifting from 3G, and 4G to 5G. 2G and 3G could be replaced by NB-IoT and LTE Cat 1.

Qualcomm chipset could hold half of the market share in the future, there is one more reason that is the shortage of supply of HI silicon and the US imposed some restrictions on it. We can see strong competition between Qualcomm and MediaTek after MediaTek has launched a 5G-powered T700 and T750 chipset. Unisoc is also working in IoT-based applications to emerge as a leading player in the market of China.

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