Dublin, Nov. 07, 2023 (GLOBE NEWSWIRE) -- The "Cellular IoT and Low-power Wide-area Network (LPWAN) Modules Growth Opportunities" report has been added to ResearchAndMarkets.com's offering.
This study analyzes the global cellular and LPWAN module market in terms of module shipment, with the forecast period running from 2023 to 2026. The study also estimates total module shipment by type of technology and the cellular IoT and LPWAN share for 2022.
In 2022, the market started to recover, but it grew less than industry expectations. However, from 2022 to 2026, it is expected to improve with a 19.3% compound annual growth rate (CAGR).
Leading IoT module manufacturers are adopting innovative business models and exploring industry convergence between cellular IoT and low-power wide-area network (LPWAN). Additionally, the emergence of advanced technologies like non-terrestrial networks (NTN) and 5G-based hardware is transforming the global cellular IoT and LPWAN module market.
Various new use-cases, such as healthcare, connected and autonomous cars, wearables, metaverse and immersive experiences, manufacturing, and smart mobility, are gaining popularity. This surge in demand is driving the need for cost-effective and low-power consumption IoT connectivity and modules.
Asia-Pacific leads in NB-IoT module shipments, particularly in China with domestic companies like Quectel, Fibocom, and SUNSEA dominating the market. On the other hand, LTE-M is experiencing rapid growth in North America. In the western hemisphere, proprietary LPWAN solutions like LoRaWAN and Sigfox are gaining traction, while emerging protocols such as Amazon Sidewalk and Wi-SUN are gradually making their presence felt.
Furthermore, 5G is expected to witness significant expansion in 2024, with increased network deployments, cost reductions, and the commercial launch of 5G RedCap.
The COVID-19 pandemic disrupted supply chains, impacting the availability of IoT chipsets and modules in 2020 and 2021. This resulted in a device shortage and elevated costs in the IoT module market.
Growth opportunities include:
- 5G and LTE-M modules for wearables, healthcare, and remote monitoring
- LoRaWAN for smart metering (gas, water, and electricity)
- 5G for cellular vehicle-to-everything (C-V2X)
- NB-IoT and satellite connectivity for agribusinesses
- Sigfox for asset tracking and supply chain
Key Topics Covered:
1. Strategic Imperatives
- Why is it Increasingly Difficult to Grow?
- The Strategic Imperative
- The Impact of the Top 3 Strategic Imperatives on the Cellular IoT and LPWAN Modules Industry
- Growth Opportunities Fuel the Growth Pipeline Engine
2. Growth Opportunity Analysis
- Scope of Analysis
- Market Definitions
- Segmentation by Type and Technology
- Key Questions this Study will Answer
3. Vendor Landscape
- Manufacturers - Key Competitors
4. Growth Opportunity Analysis
- Growth Metrics
- Forecast Assumptions
- Growth Drivers
- Growth Restraints
- Global IoT Module Shipment
- Global IoT Module Shipment Analysis
- Global IoT Module Shipment by Type
- Global IoT Module Shipment by Type Analysis
- Global IoT Module Shipment Share by Technology
- Global IoT Module Shipment Share by Technology Analysis
5. Company Profiles
- Quectel
- Fibocom
- Telit Cinterion
- Sunsea AIoT
- China Mobile IoT
- Semtech/Sierra Wireless
- u-blox
- Neoway Technology
- MeiG Smart Technology
- Sequans
For more information about this report visit https://www.researchandmarkets.com/r/xnr9li
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