TSR Market Replace: 2024 Mobile IoT Module Market
Weak demand and stock correction continues in Western market. China market exhibits robust rebound. India market emerges. LTE Cat.1 bis continues to develop from China to globally.
Mobile IoT Module Market Forecast by Space – The other pattern between China and Western market in 2024
Mobile IoT module (Industrial and automotive) market is estimated to develop by 16% in 2024 because of the robust rebound in China and India market progress, offset the consecutive lower within the western market. In 2025, China market is estimated to develop by 10-15% YoY. The Western market is anticipated to rebound from stock adjustment prior to now two years, to attain excessive single-digit to round 10% YoY progress. We forecast mid-high single digit progress after 2025.
China has been the most important marketplace for mobile IoT modules, with a share of round 55% in 2021-2023. In 2024, whereas outside-China market decreased, the China market has expanded, and its share has grown to 63%. Amongst outside-China market, North American and European market decreased consecutively from 2023 to 2024, whereas India market begin rising for good meter deployments, e-bike, and cell cost.
For end-use, good utility metering, GPS monitoring (fleet, asset, life…), good cost, automotive OEM telematics, and safety/automation (safety digicam and sensor) are the principle purposes of mobile IoT modules. It is usually used for distant medical, distant well being monitoring, chilly chain, good metropolis, good agriculture, EV/ e-bike charging pile, PV electrical generator, and so forth.
Amongst mobile industrial purposes, demand for good fuel/water metering, safety digicam, electrical scooter monitoring, EV and e-bike charging piles are rising lately.
Mobile IoT Module Market Forecast by Normal – LTE Cat.1 bis can be subsequent 2G, changing a part of mobile LPWA. 4G to 5G migration will take time.
Many industrial IoT purposes don’t require excessive velocity information communication, whereas dependable community (space protection and steady connection) is important.
In 2024, LTE Cat.1/Cat.1 bis is probably the most broadly adopted, adopted by LTE/LTE-Superior, NB-IoT, and LTE Cat.M. The market share of Mobile LPWA requirements (LTE Cat.M and NB-IoT) is lowering as among the purposes like GPS monitoring return to low-cost LTE Cat.1 bis (with eDRx low energy know-how) to make the most of higher community protection.
The market share of broadband mobile modules (LTE/LTE-Superior, 5G eMBB, and RedCap) is estimated to be about 24% in 2024, lowering barely to 22% in 2030.
The tendencies in industrial M2M module requirements for 2023-2024 are as follows:
Mobile LPWA (LTE Cat.M and NB-IoT) market has decreased for the second consecutive yr, with its share lowering from 27% (2023) to 21% (2024).
LTE Cat.1/Cat.1 bis has expanded considerably, from 32% (2023) to 45% (2024).
LTE market share has decreased barely from 23% (2023) to 22.5% (2024).
5G stays area of interest within the industrial IoT subject, however will enhance for automotive automotive telematics from 2024.
The tendencies in 2025 onwards are:
LTE Cat.1 bis market enlargement outdoors China, changing 2G/3G and a few LPWA purposes, with its share enhance to round 61-62% in 2028-2030.
5G RedCap market to develop in China in 2026-2027 adopted by the module costs drop.
5G eRedCap module market will take off in 2028-2029, as a successor of LTE Cat.1 bis. North America and China are anticipated to be the early adopter of 5G eRedCap.
LTE Cat.M market will rebound, reasonable progress from 2025, primarily within the good metering and healthcare fields.
NB-IoT market is shrinking in China by reverse again to LTE Cat.1 bis, whereas the demand stays in China fuel meter, India, a part of Southern Europe and a part of southeast Asia.
5G eMBB is has been area of interest in industrial IoT market. Its share is anticipated to extend for Automotive OEM telematics, safety cameras, robotics, AI purposes, reaching 5% share by 2030.
5G RedCap Machine Market Forecast – China Industrial IoT, Shopper wearable and low finish MBB
5G RedCap is positioned because the successor to LTE Cat.4 and LTE Cat.6. Excessive finish Industrial, Automotive OEM Telematics (in China), low finish cell broadband and shopper wearable would be the fundamental purposes of 5G RedCap in subsequent 5 years.
Industrial deployment of 5G Redcap has begun in North America, China, and the Philippines. Australia, India, and the Center East are anticipated to comply with in subsequent 1-2 years. The penetration velocity of 5G Redcap will depend on MNOs community technique (4G to 5G migration, 5G SA community penetration) and gadget value.
When it comes to gadget value, there are enormous value delta in 5G Redcap chipset between Chinese language suppliers and Western suppliers. At the moment, 5G Redcap chipset value is estimated about $20-25 within the western market, whereas it’s already reaching under $10 in China. Chinese language startup chip suppliers have aggressive value roadmap, goal to make 5G RedCap chip value under $5 by 2026. 5G Redcap might widespread sooner in China, Center East, Southeast Asia, and different rising international locations, the place enterprises and authorities settle for Chinese language mobile chipset.
5G eRedCap, which is an extra cut-off from RedCap, is anticipated to be materialized in 2028. 5G eRedCap would be the successor to LTE Cat.1 bis, and might also partially substitute LTE Cat.M. Because the LTE Cat.1 bis chipset may be very mature and low value, it’s seemingly that the migration to 5G eRedCap will take very long time.
Mobile Module & Modem Chip Market Share – Fragmented, however the market share concentrated to a couple suppliers. Chinese language suppliers achieve market share
Reflecting geographical market tendencies, Chinese language mobile module suppliers gained market share in 2024, whereas Western module suppliers decreased considerably. Amongst fundamental module suppliers, Quectel, China Cellular-IoT (CMCC-IoT), Fibocom, Neoway, and Lierda gained market share respectively in 2024, whereas Telit-Cinterion, Sierra Wi-fi (Semtech), and u-blox misplaced market share as a consequence of declining demand within the western market and stock changes.
The highest provider Quectel recorded 46.6% of the market share in cargo unit base, added 5.2% from the earlier yr. Regardless of rising geopolitical concern, Quectel and Fibocom are rising market share in each China and abroad, together with North America.
The principle module suppliers in every area are as follows (excluding automotive):
Japan: Telit-Cinterion, Quectel, Sierra Wi-fi, SunSea, TaiyoYuden, Murata, Seiko, Abit
China: Quectel, CMCC IoT, Lierda, Fibocom, SunSea, Neoway, MeiG, MobileTek, Luat, Unionman…
N.America: Telit-Cinterion, Quectel, Sierra Wi-fi, u-blox, SunSea, Fibocom
Europe: Quectel, Telit-Cinterion, SunSea, Sierra Wi-fi, Fibocom
India: Quectel, Neoway, Telit-Cinterion, Cavli, SunSea, Fibocom, MoMagic
After the large income lower in 2024, ublox determined to shut the mobile module enterprise. Because the mobile module market shrunk considerably within the western international locations, different module suppliers might comply with the best way, to retreat or exit from mobile module enterprise.
In China market, As a result of fierce value competitors, a few of Chinese language module suppliers, Gosuncn Welink, MeiG, Huawei, Neoway, and others shifted their focus from module enterprise to gadget ODM and IoT platform enterprise.
For the chipsets for mobile IoT modules, ASR and UNISOC gained market share in 2024 as LTE Cat.1 bis enhance considerably in mobile IoT module market. Whereas Qualcomm, Xinyi, Sony, MediaTek and different suppliers decreased. There are about 20 firms taking part out there, high 4 suppliers: Qualcomm, ASR, Eigencomm and UNISOC collectively will depend about 87% market share in 2024, rising from 80% in 2023.
Main chipset producers by mobile customary are as follows:
GSM: MediaTek, UNISOC
LTE: Qualcomm, UNISOC, Sanechips, ASR, MediaTek
5G eMBB: Qualcomm, UNISOC, Sanechips, MediaTek (Telematics)
5G RedCap: HiSilicon, ASR
LTE Cat.1 Qualcomm, Intel, Sequans
LTE Cat.1 bis: ASR, Eigencomm, UNISOC, AICXTek, Innochip
LTE Cat.M: Qualcomm, Sony, ublox, Nordic, Sequans
NB-IoT: Eigencomm, Xinyi, UNISOC, HiSilicon
Within the LTE Cat.1 bis chipset market, ASR has a market share of almost 50% in 2024. Eigencomm and UNISOC share a lot of the remaining pie. Since 2H2023, AICX, Innochip, Xinyi, Sequans, Qualcomm and others have entered however haven’t succeeded but. As LTE Cat.1 bis market will develop in North America and Japan in 2025-2026, Qualcomm is anticipated to take main share in these areas with new chipsets. Qualcomm first acquired the LTE IP from Eigencomm, then it acquired the LTE IP from Sequans
5G RedCap for industrial IoT is being deployed within the China market first, thus HiSilicon has acquired a majority market share by 2024. ASR, Eigencomm, and a number of other startup firms reminiscent of Cygnus, Innobase, Innochip, and Bluewave are coming into the market in 2024-2025, market share is anticipated to be diversified shortly in 2025-2026.
