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 lowered demand in key verticals like industrial and enterprise as driving components behind the decline.
One vivid spot was the speedy progress of 4G Cat 1 bis modules, which captured over 22 p.c of shipments in 2023. In China, this know-how has change into the first mobile commonplace for point-of-sale programs, sensible metres, telematics, and asset monitoring on account of its affordability and vitality effectivity. The market is slowly transitioning away from 4G Cat 1 and NB-IoT in the direction of the extra environment friendly 4G Cat 1 bis.
“India and China have proven constructive progress on account of rising demand within the sensible metre, POS, and asset monitoring markets. Conversely, the remainder of the world witnessed a sharper decline, indicating an absence of anticipated market momentum,” stated Mohit Agrawal, Affiliate Director at Counterpoint Analysis.
Agrawal famous that round 12 p.c of modules shipped in 2023 have been outfitted with AI capabilities—gaining recognition in automotive, router/CPE, and PC markets to handle escalating knowledge masses.
Market chief Quectel skilled a decline in market share primarily on account of weakened non-China demand. Nonetheless, 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.
(Picture by kaleb tapp)
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