International shipments of mobile IoT modules skilled their first-ever annual decline in 2023, falling two p.c year-over-year.
Counterpoint Analysis’s newest report cites stock changes following provide chain disruptions and diminished demand in key verticals like industrial and enterprise as driving elements behind the decline.
One vivid spot was the fast progress of 4G Cat 1 bis modules, which captured over 22 p.c of shipments in 2023. In China, this expertise has grow to be the first mobile normal for point-of-sale techniques, sensible metres, telematics, and asset monitoring attributable to its affordability and vitality effectivity. The market is slowly transitioning away from 4G Cat 1 and NB-IoT in direction of the extra environment friendly 4G Cat 1 bis.
“India and China have proven optimistic progress attributable to growing demand within the sensible metre, POS, and asset monitoring markets. Conversely, the remainder of the world witnessed a sharper decline, indicating a scarcity of anticipated market momentum,” stated Mohit Agrawal, Affiliate Director at Counterpoint Analysis.
Agrawal famous that round 12 p.c of modules shipped in 2023 had been geared up with AI capabilities—gaining recognition in automotive, router/CPE, and PC markets to handle escalating information hundreds.
Market chief Quectel skilled a decline in market share primarily attributable to weakened non-China demand. Nevertheless, the corporate partnered with Syrma SGS to fabricate IoT modules in India. China Cellular and Fibocom noticed double-digit year-over-year progress in sensible metre, asset monitoring, POS, and telematics purposes.
The merger of Telit and Thales propelled the newly mixed Telit Cinterion into the highest 5 distributors. Telit additionally partnered with VVDN for native manufacturing in India. A number of Chinese language manufacturers like Unionman, OpenLuat, Lierda, and Neoway confirmed important progress in area of interest markets.
Trying forward, Counterpoint Analysis Analyst Anish Khajuria expects the IoT module market to return to progress within the second half of 2024 as inventories normalise and demand will increase for sensible metres, POS, and automotive purposes.
Substantial progress is projected for 2025 with wider 5G and 5G RedCap adoption throughout a number of verticals.
(Photograph by kaleb tapp)
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