The worldwide marketplace for mobile IoT module slipped by round two p.c when it comes to annual cargo volumes in 2023, in comparison with 2022. It’s the first time the mobile IoT gross sales have shrunk over a 12 month interval, in accordance with Counterpoint Analysis, which has a new report about it. It cited provide chain disruption and decreased demand from sure enterprise and industrial IoT sectors. However the market will stabilise in 2024, mentioned the agency, and see “substantial development” in 2025 on the again of “widespread adoption” of 5G and 5G RedCap throughout all IoT classes.
China-based Quectel maintained its lead as the most important mobile IoT module maker by quantity. However Quectel noticed a decline in its market share due to weakened demand outdoors of China; its complete share stands at 34 p.c of the market – which nonetheless utterly dwarfs its rivals. Quectel was adopted within the rankings by Fibocom (7.8 p.c) and China Cellular (6.7 p.c), each additionally primarily based in China; these firms claimed double-digit annual development in gross sales, mentioned Counterpoint Analysis.
China Cellular’s development was pushed by good meters, asset trackers, and POS functions; Fibocom’s development was pushed by POS and telematics functions. The latest merger of European makers Telit and Thales propelled the mixed enterprise, Telit Cinterion, into fourth, with 6.5 p.c. Telit is partnering with VVDN for native manufacturing in India, a key development market. Quectel, by the way, has partnered with Syrma SGS Know-how to do the identical.
In the meantime, Chinese language manufacturers like Unionman, OpenLuat, Lierda, and Neoway have seen “vital development” in good metering, asset monitoring, and POS terminals. The remainder of the market, mixed, contributes to 39 p.c of complete gross sales. Counterpoint Analysis mentioned: “India and China have proven optimistic development because of growing demand within the good meter, POS and asset monitoring markets.”
Conversely, the remainder of the world has seen sharper decline – “indicating a scarcity of anticipated market momentum,” in accordance with the corporate. Anish Khajuria, analysis analyst at Counterpoint Analysis, commented: “In 2024, the IoT module market is anticipated to return to development within the second half of the yr with normalizing stock ranges and growing demand within the good meter, POS and automotive segments.”
Of assorted mobile IoT expertise sorts, LTE (4G) Cat 1 bis grew the quickest in 2023, capturing over 22 p.c of complete shipments, mentioned Counterpoint Analysis. In China, LTE Cat 1 bis has now grow to be the first mobile customary for POS, good meter, telematics, and asset monitoring – “owing to its affordability and vitality effectivity”, mentioned the agency. The market is slowly transitioning from LTE Cat 1 and NB-IoT to extra environment friendly LTE Cat 1 bis, it added.
Round 12 p.c of modules shipped in 2023 have been outfitted with AI capabilities at software program or {hardware} stage. “These modules are gaining reputation in high-end markets akin to automotive, router/CPE and PC, facilitating the administration of the escalating knowledge load in these sectors,” mentioned Counterpoint Analysis. It advised 5G RedCap will drive uptake of mobile IoT in 2025 in good meters, routers/CPE, POS techniques, automotive options, and asset monitoring functions.
