The cellular IoT Module market is projected to have a CAGR of 23.4% by 2033. According to FMI, the market is expected to expand from USD 16.88 Billion in 2023 to USD 20.83 Billion by 2033.
The cellular IoT module market is expected to be driven by the demand for devices that are large, high-density, low-power, and affordable. During the forecast period, demand for cellular IoT modules is increasing due to their ability to control with native infrastructure and networking technologies, such as Wi-Fi and Bluetooth.
Additionally, developments in the huge adoption of LTE and technological advancements inside the IoT system support the adoption of cellular IoT modules. The demand for vehicle telematics is expected to increase quickly as a result of the implementation of IoT and telematics solutions to monitor instrumentation and on-road assets, due to the limited supply of technicians.
Attributes | Details |
---|---|
Cellular IoT Module Market CAGR (2023 to 2033) | 23.4% |
Cellular IoT Module Market Size (2023) | USD 16.88 Billion |
Cellular IoT Module Market Size (2033) | USD 20.83 Billion |
The adoption trends for cellular IoT modules in healthcare facilities are driven by the growing demand for interconnected healthcare systems, as well as the need to reduce hospital admissions, medical errors, and rising healthcare costs.
Government programs to support IoT in healthcare and the rising popularity of mHealth services are also anticipated to fuel the market's expansion. The rising number of healthcare facilities and the rising demand for healthcare services are affecting the overall cellular IoT module market share.
Due to the rising demand for connected vehicles, the cellular IoT module market in the automotive sector is anticipated to expand significantly throughout the forecast period. Given that they allow vehicles to communicate with one another and with external entities, connected cars are predicted to bring about significant changes in the automotive industry.
This is likely to increase security, ease road congestion, and make transportation more effective. Firstly, in response to the rising demand for connected cars, there is a significant need for cellular IoT modules in automotive applications.
Secondly, the need for cellular IoT modules in automotive applications is anticipated to increase, along with the demand for advanced driver assistance systems (ADAS). Lastly, it is anticipated that the rising need for telematics and infotainment systems would further propel the cellular IoT module market expansion.
The adoption of cellular IoT modules in the logistics industry is anticipated to rise in response to the growing necessity for real-time tracking of shipments. Furthermore, the market is anticipated to increase as a result of the rising trends in automation and remote monitoring.
The logistics industry's growing applications of modules are predicted to present a wide range of opportunities for cellular IoT module market participants. In addition, efforts made by various governments to encourage applications in the logistics industry are anticipated to assist market expansion.
5G networks are the trending revolution in the market. It gives cellular IoT module market players a larger scope during the forecast period. Moreover, sales revenue in the cellular IoT module market industry expanded at a 17% CAGR from 2018 to 2022. According to FMI, by 2033, the market CAGR is likely to rise by 23.4%.
Currently, the telecom sector enhances the cellular IoT module market outlook. The rise of the market is also supported by speedy digitization and rising automation across sectors. Many medium-sized and large-scale organizations are implementing solutions for the Narrowband Internet of Things (NB-IoT) and Long-Term Evolution for Machines (LTE-M).
Moreover, these technologies can be incorporated with the present mobile networks to provide enhanced end-to-end security, device-level access and authentication, and encrypted data transport.
The components and tools required for the cellular IoT module are contained in a connected ecosystem. They assist in streamlining applications for numerous crucial businesses, however, they are susceptible to hackers.
It has become simpler for hackers to launch cyberattacks utilizing cellular and IoT vulnerabilities as a result of the growth of IoT devices on cellular networks. Most cellular IoT devices depend on cloud networks to function properly.
Additionally, cellular IoT security strategy must include cloud-based security since unsecured cloud infrastructure increases the risk of data theft and device piracy. For instance, a drone used for delivery or surveillance can process information like navigational directions and imaging data on its own. However, it might send any recorded videos or logs to a cloud server. There may be a threat to the network or other devices.
During the projected period, a CAGR of 26.5% is anticipated for the hardware segment.
The largest portion of the global cellular IoT market is owned by the hardware sector. Hardware components like chipsets and cellular IoT modules serve as the framework for the complete cellular IoT ecosystem.
Additionally, the use of cellular IoT modules in wearables, connected healthcare devices, smart city infrastructure, and building automation projects is expected to increase, which fuels the expansion further.
During the forecast period, the energy industry is anticipated to increase and had the highest CAGR of 28.1%. It is projected that cellular technologies would become more popular in applications needing large deployments and dense endpoint connections.
Therefore, the sectors of manufacturing, utilities, and energy stand to benefit the most. The technology is being used in smarter city applications, which is expanding the opportunities in the market.
Despite the lockdowns, China remained the largest IoT market in the world, accounting for more than half of the demand. Sales of cellular IoT modules in the nation slightly increased from earlier months this year, propelled by lockdown-triggered applications like smart locks, security cameras, and routers.
The Chinese companies have gotten bigger, making it very difficult for international brands to grow in silos. This is a vital phase for the IoT module market. Again, despite growing from a lower base, India's IoT module market experienced the fastest growth (+264% YoY), driven by smart meters, telematics, POS, and automotive applications.
By providing for its enormous customer base of current and potential customers, as well as its extensive cellular network, China Mobile maintained its fourth place in the global cellular IoT module market.
The operator and Xinyi Semiconductor collaborated to concentrate on lower-end applications. Both have benefited from being able to target 2G to 4G IoT applications in transition.
Moreover, the world's largest operator is able to scale its end-to-end 5G IoT solutions quickly over the coming quarters due to China Mobile's expanding 5G footprint and partnerships with companies across the value chain.
Due to the strong pursuit of IoT implementation projects by solution vendors and component manufacturers, North America now holds the greatest share of the worldwide cellular IoT module market.
The ability of industries to quickly adopt smart and connected devices, as well as the frequently changing nature of the technology landscape, are key growth drivers for the area.
Over the course of the projected period, Europe's market for cellular IoT modules is anticipated to rise impressively. This is mostly due to the region's growing demand for practical and affordable IoT solutions.
The region's expanding use of 5G technology is anticipated to fuel additional market expansion. High data rates, better latency, and higher coverage provided by 5G technology are projected to increase demand for cellular IoT modules.
Additionally, the presence of a sizable population of tech-savvy consumers and the growing trend of digitization in a number of the region's countries are anticipated to fuel market growth. The demand for cellular IoT modules in Europe is anticipated to grow at a faster rate due to the rising demand for connected products.
Key Players Count on Telematics and Smart Grid to Have a Competitive Advantage
Telematics solution providers now include cellular IoT modules in their product lines, making it simpler for fleet managers and OEMs of off-highway vehicles to collect and analyze data to spot important trends and problems in the field's instrumentation usage.
Additionally, it is anticipated that a number of factors, including strong security, ubiquitous quality, and resilient networks, energize the industry over the ensuing many years.
Due to their extensive investments in the telecommunications industry and pertinent smart grid connectivity, major players in the cellular IoT module market have a sizable position.
Table 1: Global Market Value (US$ Million) Forecast by Region, 2017 to 2032
Table 2: Global Market Value (US$ Million) Forecast by Component, 2017 to 2032
Table 3: Global Market Value (US$ Million) Forecast by Type, 2017 to 2032
Table 4: Global Market Value (US$ Million) Forecast by End-User, 2017 to 2032
Table 5: North America Market Value (US$ Million) Forecast by Country, 2017 to 2032
Table 6: North America Market Value (US$ Million) Forecast by Component, 2017 to 2032
Table 7: North America Market Value (US$ Million) Forecast by Type, 2017 to 2032
Table 8: North America Market Value (US$ Million) Forecast by End-User, 2017 to 2032
Table 9: Latin America Market Value (US$ Million) Forecast by Country, 2017 to 2032
Table 10: Latin America Market Value (US$ Million) Forecast by Component, 2017 to 2032
Table 11: Latin America Market Value (US$ Million) Forecast by Type, 2017 to 2032
Table 12: Latin America Market Value (US$ Million) Forecast by End-User, 2017 to 2032
Table 13: Europe Market Value (US$ Million) Forecast by Country, 2017 to 2032
Table 14: Europe Market Value (US$ Million) Forecast by Component, 2017 to 2032
Table 15: Europe Market Value (US$ Million) Forecast by Type, 2017 to 2032
Table 16: Europe Market Value (US$ Million) Forecast by End-User, 2017 to 2032
Table 17: South Asia Market Value (US$ Million) Forecast by Country, 2017 to 2032
Table 18: South Asia Market Value (US$ Million) Forecast by Component, 2017 to 2032
Table 19: South Asia Market Value (US$ Million) Forecast by Type, 2017 to 2032
Table 20: South Asia Market Value (US$ Million) Forecast by End-User, 2017 to 2032
Table 21: East Asia Market Value (US$ Million) Forecast by Country, 2017 to 2032
Table 22: East Asia Market Value (US$ Million) Forecast by Component, 2017 to 2032
Table 23: East Asia Market Value (US$ Million) Forecast by Type, 2017 to 2032
Table 24: East Asia Market Value (US$ Million) Forecast by End-User, 2017 to 2032
Table 25: Oceania Market Value (US$ Million) Forecast by Country, 2017 to 2032
Table 26: Oceania Market Value (US$ Million) Forecast by Component, 2017 to 2032
Table 27: Oceania Market Value (US$ Million) Forecast by Type, 2017 to 2032
Table 28: Oceania Market Value (US$ Million) Forecast by End-User, 2017 to 2032
Table 29: MEA Market Value (US$ Million) Forecast by Country, 2017 to 2032
Table 30: MEA Market Value (US$ Million) Forecast by Component, 2017 to 2032
Table 31: MEA Market Value (US$ Million) Forecast by Type, 2017 to 2032
Table 32: MEA Market Value (US$ Million) Forecast by End-User, 2017 to 2032
Figure 1: Global Market Value (US$ Million) by Component, 2022 to 2032
Figure 2: Global Market Value (US$ Million) by Type, 2022 to 2032
Figure 3: Global Market Value (US$ Million) by End-User, 2022 to 2032
Figure 4: Global Market Value (US$ Million) by Region, 2022 to 2032
Figure 5: Global Market Value (US$ Million) Analysis by Region, 2017 to 2032
Figure 6: Global Market Value Share (%) and BPS Analysis by Region, 2022 to 2032
Figure 7: Global Market Y-o-Y Growth (%) Projections by Region, 2022 to 2032
Figure 8: Global Market Value (US$ Million) Analysis by Component, 2017 to 2032
Figure 9: Global Market Value Share (%) and BPS Analysis by Component, 2022 to 2032
Figure 10: Global Market Y-o-Y Growth (%) Projections by Component, 2022 to 2032
Figure 11: Global Market Value (US$ Million) Analysis by Type, 2017 to 2032
Figure 12: Global Market Value Share (%) and BPS Analysis by Type, 2022 to 2032
Figure 13: Global Market Y-o-Y Growth (%) Projections by Type, 2022 to 2032
Figure 14: Global Market Value (US$ Million) Analysis by End-User, 2017 to 2032
Figure 15: Global Market Value Share (%) and BPS Analysis by End-User, 2022 to 2032
Figure 16: Global Market Y-o-Y Growth (%) Projections by End-User, 2022 to 2032
Figure 17: Global Market Attractiveness by Component, 2022 to 2032
Figure 18: Global Market Attractiveness by Type, 2022 to 2032
Figure 19: Global Market Attractiveness by End-User, 2022 to 2032
Figure 20: Global Market Attractiveness by Region, 2022 to 2032
Figure 21: North America Market Value (US$ Million) by Component, 2022 to 2032
Figure 22: North America Market Value (US$ Million) by Type, 2022 to 2032
Figure 23: North America Market Value (US$ Million) by End-User, 2022 to 2032
Figure 24: North America Market Value (US$ Million) by Country, 2022 to 2032
Figure 25: North America Market Value (US$ Million) Analysis by Country, 2017 to 2032
Figure 26: North America Market Value Share (%) and BPS Analysis by Country, 2022 to 2032
Figure 27: North America Market Y-o-Y Growth (%) Projections by Country, 2022 to 2032
Figure 28: North America Market Value (US$ Million) Analysis by Component, 2017 to 2032
Figure 29: North America Market Value Share (%) and BPS Analysis by Component, 2022 to 2032
Figure 30: North America Market Y-o-Y Growth (%) Projections by Component, 2022 to 2032
Figure 31: North America Market Value (US$ Million) Analysis by Type, 2017 to 2032
Figure 32: North America Market Value Share (%) and BPS Analysis by Type, 2022 to 2032
Figure 33: North America Market Y-o-Y Growth (%) Projections by Type, 2022 to 2032
Figure 34: North America Market Value (US$ Million) Analysis by End-User, 2017 to 2032
Figure 35: North America Market Value Share (%) and BPS Analysis by End-User, 2022 to 2032
Figure 36: North America Market Y-o-Y Growth (%) Projections by End-User, 2022 to 2032
Figure 37: North America Market Attractiveness by Component, 2022 to 2032
Figure 38: North America Market Attractiveness by Type, 2022 to 2032
Figure 39: North America Market Attractiveness by End-User, 2022 to 2032
Figure 40: North America Market Attractiveness by Country, 2022 to 2032
Figure 41: Latin America Market Value (US$ Million) by Component, 2022 to 2032
Figure 42: Latin America Market Value (US$ Million) by Type, 2022 to 2032
Figure 43: Latin America Market Value (US$ Million) by End-User, 2022 to 2032
Figure 44: Latin America Market Value (US$ Million) by Country, 2022 to 2032
Figure 45: Latin America Market Value (US$ Million) Analysis by Country, 2017 to 2032
Figure 46: Latin America Market Value Share (%) and BPS Analysis by Country, 2022 to 2032
Figure 47: Latin America Market Y-o-Y Growth (%) Projections by Country, 2022 to 2032
Figure 48: Latin America Market Value (US$ Million) Analysis by Component, 2017 to 2032
Figure 49: Latin America Market Value Share (%) and BPS Analysis by Component, 2022 to 2032
Figure 50: Latin America Market Y-o-Y Growth (%) Projections by Component, 2022 to 2032
Figure 51: Latin America Market Value (US$ Million) Analysis by Type, 2017 to 2032
Figure 52: Latin America Market Value Share (%) and BPS Analysis by Type, 2022 to 2032
Figure 53: Latin America Market Y-o-Y Growth (%) Projections by Type, 2022 to 2032
Figure 54: Latin America Market Value (US$ Million) Analysis by End-User, 2017 to 2032
Figure 55: Latin America Market Value Share (%) and BPS Analysis by End-User, 2022 to 2032
Figure 56: Latin America Market Y-o-Y Growth (%) Projections by End-User, 2022 to 2032
Figure 57: Latin America Market Attractiveness by Component, 2022 to 2032
Figure 58: Latin America Market Attractiveness by Type, 2022 to 2032
Figure 59: Latin America Market Attractiveness by End-User, 2022 to 2032
Figure 60: Latin America Market Attractiveness by Country, 2022 to 2032
Figure 61: Europe Market Value (US$ Million) by Component, 2022 to 2032
Figure 62: Europe Market Value (US$ Million) by Type, 2022 to 2032
Figure 63: Europe Market Value (US$ Million) by End-User, 2022 to 2032
Figure 64: Europe Market Value (US$ Million) by Country, 2022 to 2032
Figure 65: Europe Market Value (US$ Million) Analysis by Country, 2017 to 2032
Figure 66: Europe Market Value Share (%) and BPS Analysis by Country, 2022 to 2032
Figure 67: Europe Market Y-o-Y Growth (%) Projections by Country, 2022 to 2032
Figure 68: Europe Market Value (US$ Million) Analysis by Component, 2017 to 2032
Figure 69: Europe Market Value Share (%) and BPS Analysis by Component, 2022 to 2032
Figure 70: Europe Market Y-o-Y Growth (%) Projections by Component, 2022 to 2032
Figure 71: Europe Market Value (US$ Million) Analysis by Type, 2017 to 2032
Figure 72: Europe Market Value Share (%) and BPS Analysis by Type, 2022 to 2032
Figure 73: Europe Market Y-o-Y Growth (%) Projections by Type, 2022 to 2032
Figure 74: Europe Market Value (US$ Million) Analysis by End-User, 2017 to 2032
Figure 75: Europe Market Value Share (%) and BPS Analysis by End-User, 2022 to 2032
Figure 76: Europe Market Y-o-Y Growth (%) Projections by End-User, 2022 to 2032
Figure 77: Europe Market Attractiveness by Component, 2022 to 2032
Figure 78: Europe Market Attractiveness by Type, 2022 to 2032
Figure 79: Europe Market Attractiveness by End-User, 2022 to 2032
Figure 80: Europe Market Attractiveness by Country, 2022 to 2032
Figure 81: South Asia Market Value (US$ Million) by Component, 2022 to 2032
Figure 82: South Asia Market Value (US$ Million) by Type, 2022 to 2032
Figure 83: South Asia Market Value (US$ Million) by End-User, 2022 to 2032
Figure 84: South Asia Market Value (US$ Million) by Country, 2022 to 2032
Figure 85: South Asia Market Value (US$ Million) Analysis by Country, 2017 to 2032
Figure 86: South Asia Market Value Share (%) and BPS Analysis by Country, 2022 to 2032
Figure 87: South Asia Market Y-o-Y Growth (%) Projections by Country, 2022 to 2032
Figure 88: South Asia Market Value (US$ Million) Analysis by Component, 2017 to 2032
Figure 89: South Asia Market Value Share (%) and BPS Analysis by Component, 2022 to 2032
Figure 90: South Asia Market Y-o-Y Growth (%) Projections by Component, 2022 to 2032
Figure 91: South Asia Market Value (US$ Million) Analysis by Type, 2017 to 2032
Figure 92: South Asia Market Value Share (%) and BPS Analysis by Type, 2022 to 2032
Figure 93: South Asia Market Y-o-Y Growth (%) Projections by Type, 2022 to 2032
Figure 94: South Asia Market Value (US$ Million) Analysis by End-User, 2017 to 2032
Figure 95: South Asia Market Value Share (%) and BPS Analysis by End-User, 2022 to 2032
Figure 96: South Asia Market Y-o-Y Growth (%) Projections by End-User, 2022 to 2032
Figure 97: South Asia Market Attractiveness by Component, 2022 to 2032
Figure 98: South Asia Market Attractiveness by Type, 2022 to 2032
Figure 99: South Asia Market Attractiveness by End-User, 2022 to 2032
Figure 100: South Asia Market Attractiveness by Country, 2022 to 2032
Figure 101: East Asia Market Value (US$ Million) by Component, 2022 to 2032
Figure 102: East Asia Market Value (US$ Million) by Type, 2022 to 2032
Figure 103: East Asia Market Value (US$ Million) by End-User, 2022 to 2032
Figure 104: East Asia Market Value (US$ Million) by Country, 2022 to 2032
Figure 105: East Asia Market Value (US$ Million) Analysis by Country, 2017 to 2032
Figure 106: East Asia Market Value Share (%) and BPS Analysis by Country, 2022 to 2032
Figure 107: East Asia Market Y-o-Y Growth (%) Projections by Country, 2022 to 2032
Figure 108: East Asia Market Value (US$ Million) Analysis by Component, 2017 to 2032
Figure 109: East Asia Market Value Share (%) and BPS Analysis by Component, 2022 to 2032
Figure 110: East Asia Market Y-o-Y Growth (%) Projections by Component, 2022 to 2032
Figure 111: East Asia Market Value (US$ Million) Analysis by Type, 2017 to 2032
Figure 112: East Asia Market Value Share (%) and BPS Analysis by Type, 2022 to 2032
Figure 113: East Asia Market Y-o-Y Growth (%) Projections by Type, 2022 to 2032
Figure 114: East Asia Market Value (US$ Million) Analysis by End-User, 2017 to 2032
Figure 115: East Asia Market Value Share (%) and BPS Analysis by End-User, 2022 to 2032
Figure 116: East Asia Market Y-o-Y Growth (%) Projections by End-User, 2022 to 2032
Figure 117: East Asia Market Attractiveness by Component, 2022 to 2032
Figure 118: East Asia Market Attractiveness by Type, 2022 to 2032
Figure 119: East Asia Market Attractiveness by End-User, 2022 to 2032
Figure 120: East Asia Market Attractiveness by Country, 2022 to 2032
Figure 121: Oceania Market Value (US$ Million) by Component, 2022 to 2032
Figure 122: Oceania Market Value (US$ Million) by Type, 2022 to 2032
Figure 123: Oceania Market Value (US$ Million) by End-User, 2022 to 2032
Figure 124: Oceania Market Value (US$ Million) by Country, 2022 to 2032
Figure 125: Oceania Market Value (US$ Million) Analysis by Country, 2017 to 2032
Figure 126: Oceania Market Value Share (%) and BPS Analysis by Country, 2022 to 2032
Figure 127: Oceania Market Y-o-Y Growth (%) Projections by Country, 2022 to 2032
Figure 128: Oceania Market Value (US$ Million) Analysis by Component, 2017 to 2032
Figure 129: Oceania Market Value Share (%) and BPS Analysis by Component, 2022 to 2032
Figure 130: Oceania Market Y-o-Y Growth (%) Projections by Component, 2022 to 2032
Figure 131: Oceania Market Value (US$ Million) Analysis by Type, 2017 to 2032
Figure 132: Oceania Market Value Share (%) and BPS Analysis by Type, 2022 to 2032
Figure 133: Oceania Market Y-o-Y Growth (%) Projections by Type, 2022 to 2032
Figure 134: Oceania Market Value (US$ Million) Analysis by End-User, 2017 to 2032
Figure 135: Oceania Market Value Share (%) and BPS Analysis by End-User, 2022 to 2032
Figure 136: Oceania Market Y-o-Y Growth (%) Projections by End-User, 2022 to 2032
Figure 137: Oceania Market Attractiveness by Component, 2022 to 2032
Figure 138: Oceania Market Attractiveness by Type, 2022 to 2032
Figure 139: Oceania Market Attractiveness by End-User, 2022 to 2032
Figure 140: Oceania Market Attractiveness by Country, 2022 to 2032
Figure 141: MEA Market Value (US$ Million) by Component, 2022 to 2032
Figure 142: MEA Market Value (US$ Million) by Type, 2022 to 2032
Figure 143: MEA Market Value (US$ Million) by End-User, 2022 to 2032
Figure 144: MEA Market Value (US$ Million) by Country, 2022 to 2032
Figure 145: MEA Market Value (US$ Million) Analysis by Country, 2017 to 2032
Figure 146: MEA Market Value Share (%) and BPS Analysis by Country, 2022 to 2032
Figure 147: MEA Market Y-o-Y Growth (%) Projections by Country, 2022 to 2032
Figure 148: MEA Market Value (US$ Million) Analysis by Component, 2017 to 2032
Figure 149: MEA Market Value Share (%) and BPS Analysis by Component, 2022 to 2032
Figure 150: MEA Market Y-o-Y Growth (%) Projections by Component, 2022 to 2032
Figure 151: MEA Market Value (US$ Million) Analysis by Type, 2017 to 2032
Figure 152: MEA Market Value Share (%) and BPS Analysis by Type, 2022 to 2032
Figure 153: MEA Market Y-o-Y Growth (%) Projections by Type, 2022 to 2032
Figure 154: MEA Market Value (US$ Million) Analysis by End-User, 2017 to 2032
Figure 155: MEA Market Value Share (%) and BPS Analysis by End-User, 2022 to 2032
Figure 156: MEA Market Y-o-Y Growth (%) Projections by End-User, 2022 to 2032
Figure 157: MEA Market Attractiveness by Component, 2022 to 2032
Figure 158: MEA Market Attractiveness by Type, 2022 to 2032
Figure 159: MEA Market Attractiveness by End-User, 2022 to 2032
Figure 160: MEA Market Attractiveness by Country, 2022 to 2032
The cellular IoT module market is estimated to record a CAGR of 23.4% during the forecast period.
The cellular IoT module market size is predicted to be valued at USD 20.83 Billion by 2033.
The cellular IoT module market share is valued at USD 16.88 Million in 2023.
By 2033, Asia Pacific is anticipated to hold the largest market share of cellular IoT modules.
The hardware dominates the cellular IoT module market by 2033.
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