Mainly driven by 5G, NB-IoT and 4G Cat 1 bis technologies, the CAGR is projected at 12%.
After the IoT module shipments grew at a 35% rate YoY, reports suggest that the global cellular IoT module shipments could cross 1.2 billion units by 2030. Mainly driven by 5G, NB-IoT and 4G Cat 1 bis technologies, these shipments are projected to cross the billion mark soon. Companies like Quectel, and Fibocom, would be playing a huge role as longtail module vendors may struggle with scale and partnerships.
Research Analyst Soumen Mandal said, “With the ongoing sunset of 2G and 3G networks across the world, most of the demand has been shifting to LPWA, 4G Cat 1 and 4G Cat 1 bis technologies until now. NB-IoT will still remain popular in parts of Asia, including China, and Europe, while 4G Cat-1-based modules proliferate over the next few years.”
China is said to be a leader in terms of 5G adoption, while North America and Europe are said to have great potential in the future.
