Cellular IoT Module Market Size, Share, Analysis, Growth Insight, Forecast - 2031

The global Cellular IoT Module market is expected to grow at a significant CAGR during the forecast period (2024-2031). Cellular IoT is defined as a way of connecting physical devices to the internet across the globe. These advanced technologies used for connectivity comprise 3G, 4G, 5G, and LPWA (Low Power Wide Area) cellular technologies such as NB-IoT and LTE-M. It offers benefits such as global coverage, reliable connection of IoT devices, and low-cost hardware that are requirements for cellular IoT connections. Cellular Vehicle-to-Everything (C-V2X) in the automotive sector is growing due to the increase in demand for safe & reliable road transportation, the rising adoption of autonomous vehicles, and the increase in the adoption of vehicles telematics by logistics & transportation companies. Thus, the increasing demand for Cellular IoT for C-V2X in the automotive sector is fuelling the growth of the market. 

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The global cellular IoT module market includes some of the key market players such as Cisco Systems, Inc., Advantech, ADLINK Technology, and others. In order to maintain a strong position in the market, the market players are adopting various strategic moves, such as product launches, partnerships and collaborations, and mergers and acquisitions. For instance, in March 2020, Sequans Communications and NXP Semiconductors had collaborated to bring LTE for the Internet of Things (IoT) to NXP’s microcontroller (MCU) ecosystem. The crux of the partnership is expected to witness the combination of NXP’s LPC5500 MCU series with Sequans’ Monarch GM01Q and NB01Q modules, providing a development platform that includes LTE-M and NB-IoT connectivity for IoT devices. Additionally, in November 2019, Telit Introduced new modules ideal for transition to 4G NB-IoT. The new modules are created for users looking to transition from 2G to 4G NB-IoT. Telit claims the new modules offer more efficient power usage and enhanced coverage for connectivity.

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Market Coverage

• Segment Covered- 

o             By Connectivity Technology

• Competitive Landscape: Cisco Systems, Inc., Advantech, ADLINK Technology, and others.

Key questions addressed by the report

• What is the market growth rate?
• Which segment and region dominates the market in base year?
• Which segment and region will project fastest growth in the market?
• How COVID-19 impacted the market?

o             Recovery Timeline

o             Deviation from pre-COVID forecast

o             Most affected region and segment

• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

Global Cellular IoT Module Market Report Segmentation

By Connectivity Technology

• LTE-CAT-1
• Others

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