Press release
Cellular IoT Module Shipments market projected to reach USD 85.47 billion by 2034, growing at a CAGR of 27.1%.
The global cellular IoT module shipments market was valued at approximately USD 7.78 billion in 2024 and is projected to reach USD 85.47 billion by 2034, growing at a CAGR of 27.1% from 2025 to 2034.
Market Definition
Cellular IoT connects physical things by piggybacking on the cellular framework frequently used. It eases a massive data stream among sensors, actuators and so on while saving prices by diminishing the requirement to structure contemporary network framework. Firms profiting from cellular IoT involve those in automotive, mining, manufacturing, and agriculture sectors-and the technology's approval is on the upswing.
In this day and age there is an understanding of sim cards but many people do not know their functionality. A sim card chip is a chip with distinctive identifier that a modem knows how to interact with. Cellular has automatic encryption that offers more strong privacy and security. It also provides thorough coverage with no established range or requirement of a router.
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Market Drivers
Retailers are growingly acquiring progressive point-of-sale systems combined with cellular IoT technology to improve functional productivity and customer experience. These systems sanction smooth mobile disbursements, real-time inventory management, and safe transaction processing without depending on an established network framework.
Businesses covering several sectors are growingly categorizing precise and real-time tracking of resources across supply chains. Cellular IoT modules permit these businesses to observe the location, situation, and current of resources, warranting improved resolution and decreased functional probabilities. For instance, in November 2024, Airgain, Inc. instigated the AT-Flight resource tracker for healthcare and life sciences IoT markets, driving up the cellular IoT module shipments market demand.
Competitive Landscape
Major and emerging cellular IoT module shipments market players are closely examined in terms of market share, gross margin, product portfolio, production, revenue, sales growth, and other significant factors. The report further explores the key business players along with their in-depth profiling:
• China Mobile Limited.
• Fibocom Wireless Inc.
• LG Innotek
• Lierda Science & Technology Group Co., Ltd.
• Neoway Technology Co. LTD.
• Quectel Wireless Solutions Co., Ltd
• Semtech Corporation
• Sunsea AIoT Technology Co., Ltd.
• Telit Cinterion
• u-blox AG
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Cellular IoT Module Shipments Market Report Highlights
• In terms of technology, the 4G/LTE segment led the market in 2024, owing to its broad adoption, dependable coverage, and optimal balance between cost and performance.
• Based on application, the telematics & automotive segment is anticipated to experience the fastest growth in the cellular IoT module shipments market during the forecast period, fueled by the increasing adoption of connected vehicles and advancements in telematics technologies.
• Asia Pacific accounted for the largest share of the global market in 2024, driven by its strong manufacturing ecosystem, extensive smart city projects, and substantial investments in IoT infrastructure.
• The North America cellular IoT module shipments market is expected to witness the fastest growth during the forecast period, supported by the growing adoption of IoT in sectors like healthcare, logistics, and retail.
Geographical Landscape
Regionally, the market is segmented into North America, Europe, Asia Pacific, South America and the Middle East and Africa.
Asia Pacific accounted for the largest cellular IoT module shipments market share owing to a strong manufacturing base, extensive smart city undertakings, and notable funding in the IoT framework.
North America followed Asia Pacific as being a significant regional entity due to the growing acquisition of IoT across sectors such as healthcare, logistics, and retail. The region's progressive technology topography, amalgamated with sizeable funding in 5G networks, offers a robust foundation for IoT augmentation.
Segmentation Outlook
By Technology Outlook (Revenue, USD Billion, 2020-2034)
• 3G
• 4G/LTE
• 5G
By Application Outlook (Revenue, USD Billion, 2020-2034)
• Smart Meters & Utilities
• Telematics & Automotive
• Healthcare
• Retail
• Smart Cities
• Others
By Frequency Band Outlook (Revenue, USD Billion, 2020-2034)
• Licensed Spectrum
• Unlicensed Spectrum
By End User Outlook (Revenue, USD Billion, 2020-2034)
• Transportation & Logistics
• Energy & Utilities
• Healthcare
• Manufacturing
• Others
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