The worldwide mobile IoT module market’s shipments grew 11% YoY in Q2 2024.
The expansion was primarily fuelled by China, the place robust demand in soundbox, automotive, and asset-tracking functions led to a 25% YoY improve.
4G Cat 1 bis is the fastest-growing section, capturing 42% of the market in Q2, pushed by demand from China and India.
Qualcomm remained the market chief, whereas ASR doubled its market share as a result of robust efficiency of its low-cost 4G Cat 1 bis chipset choices.
International mobile IoT module shipments grew 11% YoY and 6% QoQ in Q2 2024, in line with Counterpoint’s newest ‘Global Cellular IoT Module and Chipset Tracker by Application’ report.
This development was primarily pushed by robust demand in China and India, whereas different markets continued to face challenges.
Commenting in the marketplace’s dynamics, Senior Analyst Tina Lu mentioned, “China experienced robust growth of 25%, primarily driven by the significant expansion in POS, particularly soundbox (a portable and small form factor POS device), as well as in automotive and asset-tracking applications. In contrast, markets outside of China saw a 5% YoY decline due to low demand and inventory buildup at the customer end. However, the automotive, telematics, router/CPE and PC sectors also showed growth in markets outside China. On the technology front, 4G Cat 1 bis maintained its momentum, doubling its contribution to global shipments from a year ago. The average selling price (ASP) of 4G Cat 1 bis nearly halved over the year, making it more cost-effective for use in smart meter and soundbox applications.”
Quectel continued to guide the market, whereas China Cell changed Fibocom for the second spot. Fibocom slipped to the third spot. Collectively, these three corporations held greater than half of the worldwide market in Q2 2024. In markets exterior China, Telit Cinterion maintained its second place behind Quectel.
For the primary time, Lierda entered the checklist of high 5 world gamers, because of its robust efficiency in Cat 1 bis functions equivalent to POS (particularly soundboxes), sensible meters and safety cameras. Lierda’s partnerships with home chipset suppliers have enabled it to supply low-cost modules, permitting the corporate to seize market share from smaller distributors in China.
One other main issue is the expansion of Chinese language module gamers, pushed by the numerous worth differential between them and different module gamers. This pattern is especially evident in rising markets like India, Africa and Latin America, the place Chinese language gamers proceed to broaden. To remain aggressive and sustain with the rising Chinese language market presence, worldwide gamers might want to scale back their module ASP margins.
Commenting on the chipset participant dynamics, Analysis Analyst Subhadip Roy mentioned, “In the global cellular IoT module chipset market, Qualcomm continues to lead, followed by ASR and UNISOC. ASR has seen significant growth over the years, nearly doubling its market share due to its strong performance in the 4G Cat 1 bis chipset segment, where it captured nearly half of the market in Q2 2024. Chipset players like Qualcomm, MLink, UNISOC, MediaTek and HiSilicon have launched 5G RedCap chipsets. While their early adoption is underway in China, US operators are also gearing up. The launch price of 5G RedCap modules is nearly twice that of 4G Cat 4 modules, so it will be keenly watched how pricing evolves to support the adoption of 5G RedCap technology.”
Counterpoint’s ‘Global Cellular IoT Module and Chipset Tracker by Application, Q2 2024’ tracks 1,500+ IoT module SKUs on a quarterly foundation and gives forecasts on shipments, revenues and ASP performances for 80+ IoT module distributors, 12+ chipset gamers and 18+ IoT functions throughout 10 main geographies.
