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Cellular IoT module to cross 780 million units in 2024

Cellular IoT chipset’s nearly half global market is expected to be held by Qualcomm by 2024

The cellular Internet of Things (IoT) module will be reaching $11.5 billion in revenues as its shipment will cross 780 million units in the year 2024. India will lead as the country is set to experience the highest growth of 38 per cent, as per a latest research.

Followed by 4G and 5G, NarrowBand-Internet of Things (NB-IoT) will lead the shipments by the year 2024.

Associate Director Jan Stryjak said, “The growth of NB-IoT will keep China ahead of other regions in the cellular IoT module market. However, India is expected to experience the highest growth (38 per cent) in shipments”.

Stryjak said in a statement, “The commercial deployment of NB-IoT by the country’s major telecom operators, such as Jio, VI, Airtel and BSNL, will help usher growth in cellular module shipments in India”.

In the year 2024, to become the second largest market after China, North America will overtake Europe.

As per Counterpoint Research’s Global Cellular IoT Module and Chipset Forecast, NB-IoT will lead in terms of volume in the market and 5G will lead in terms of value.

Nearly half of the global IoT chipset market is expected to be held by Qualcomm by the year 2024.

Neil Shah, Vice-President Research said, “With its leadership in 5G market, supply shortages being faced by Hisilicon and sanctions imposed by the US, Qualcomm is going to maintain its legacy in this market”.

“We may witness strong competition between Qualcomm and Mediatek for the 5G cellular IoT chipset market, just as we see in the smartphone chipset market”, Shah noted.

Also Read:Digitally transforming businesses: Imaginea becomes a part of Accenture

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