Today: 7 October 2025
7 January 2024
1 min read

Global cellular IoT module shipments see 2% decline

The top five applications – smart meter, automotive, POS, router/CPE and telematics – accounted for over 60 per cent of total cellular IoT module shipments….reports Asian Lite News

Global cellular IoT module shipments saw a 2 per cent decline (year-on-year) in Q3 2023, a new report has said.

For the first time, the 5G market’s share in the global cellular IoT module market crossed 5 per cent, indicating traction for 5G adoption.

“However, 5G applications are currently limited due to the lack of killer use cases and higher prices. We are only witnessing early adoption in the router/CPE, PC and automotive markets,” according to the report by Counterpoint Research.

The top five applications – smart meter, automotive, POS, router/CPE and telematics – accounted for over 60 per cent of total cellular IoT module shipments.

“Notably, only the smart meter and router/CPE segments observed positive growth in shipments, with other applications experiencing a decline,” said Associate Director Mohit Agrawal.

India stands out as the only region to register positive growth in the global cellular IoT module market.

“Conversely, the market outside of China and India saw a steeper decline compared to China. Contrary to industry expectations, the market is not gaining momentum,” Agrawal added.

The full-year shipments for 2023 are expected to decline by 5 per cent, against the backdrop of muted demand.

Quectel, the market leader, and Telit Cinterion, one of the leading international vendors, experienced a decline in shipments, said the report.

ALSO READ: Biden’s State of the Union Set for March 7

Previous Story

Gulmarg Gondola: 1M Visitors, Rs. 108 Cr!

Next Story

Authors sue Microsoft, OpenAI for copyright infringement

Latest from Business

Rupee, Markets Gain Amid Trade Optimism

Emerging market currencies, including the rupee, have gained support amid softening in the dollar. Reports suggesting that the US economy is on the verge of a recession have contributed to the greenback’s

Gold Shines Bright Amid Global Jitters

Gold and silver continued their bullish run on Monday, scaling new highs amid mounting global uncertainties, heightened geopolitical tensions, and growing expectations of a US Federal Reserve rate cut. According to the

ADNOC signs 15-year LNG deal with Indian Oil

Under the deal, LNG cargoes can be delivered to any port across India, enhancing the country’s energy security and meeting its rising energy demand. Abu Dhabi National Oil Company (ADNOC) has signed

India Inc Eyes Upswing

Private equity (PE) remained comparatively stable in Q2, clocking 357 deals worth $7.4 billion — the second-highest volume since Q4 2022. However, deal values dipped on a quarter-on-quarter basis due to the
Go toTop

Don't Miss

India to facilitate smooth international trade during Covid surge

DPIIT will monitor the status and issues arising due to

‘Israel-Hamas Conflict Shouldn’t Hinder India’s Relations with Iran’

Experts said that the Israel-Hamas conflict should not be allowed