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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 lowered demand from sure enterprise and industrial IoT sectors. However the market will stabilise in 2024, mentioned the agency, and see “substantial progress” 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 largest mobile IoT module maker by quantity. However Quectel noticed a decline in its market share due to weakened demand exterior of China; its whole 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 progress in gross sales, mentioned Counterpoint Analysis.
China Cellular’s progress was pushed by sensible meters, asset trackers, and POS functions; Fibocom’s progress was pushed by POS and telematics functions. The current 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 progress 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 progress” in sensible metering, asset monitoring, and POS terminals. The remainder of the market, mixed, contributes to 39 p.c of whole gross sales. Counterpoint Analysis mentioned: “India and China have proven optimistic progress on account of rising demand within the sensible meter, POS and asset monitoring markets.”
Conversely, the remainder of the world has seen sharper decline – “indicating an absence of anticipated market momentum,” in accordance with the corporate. Anish Khajuria, analysis analyst at Counterpoint Analysis, commented: “In 2024, the IoT module market is predicted to return to progress within the second half of the yr with normalizing stock ranges and rising demand within the sensible meter, POS and automotive segments.”
Of assorted mobile IoT know-how varieties, LTE (4G) Cat 1 bis grew the quickest in 2023, capturing over 22 p.c of whole shipments, mentioned Counterpoint Analysis. In China, LTE Cat 1 bis has now grow to be the first mobile customary for POS, sensible 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 had been geared up with AI capabilities at software program or {hardware} stage. “These modules are gaining reputation in high-end markets comparable to automotive, router/CPE and PC, facilitating the administration of the escalating knowledge load in these sectors,” mentioned Counterpoint Analysis. It prompt 5G RedCap will drive uptake of mobile IoT in 2025 in sensible meters, routers/CPE, POS methods, automotive options, and asset monitoring functions.
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