IOT Wireless Communication Modules Market Size, Share, Growth, and Industry Analysis by Type (Cellular Communication Modules and Non-Cellular Communication Modules) by Application (Consumer IOT, City Service IOT, Industrial Internet of Thingsand others) and Regional Insights and Forecast to 2032

IOT WIRELESS COMMUNICATION MODULES MARKET OVERVIEW

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The global IOT communication module market size was 2280 million in 2022 and will reach USD 9869.1 million by 2029, exhibiting a CAGR of 23.0% during the forecast period.

The IoT communication module refers to a network of connected bias that may be penetrated through the internet. Intelligent transportation services, electric grids, and smart municipalities are just a many exemplifications of IoT communication technologies in use. The IoT communication modules will continue to play an important part in adding the standard of experience in unborn technologies. Computing products that include desktops, tablets, smartphones, and wireless bias dominate the IoT communication module request share.

The IoT wireless communication modules market size is expanding rapidly due to adding relinquishment of IoT technology across diligence similar as automotive, healthcare, artificial, and consumer electronics. Factors driving this expansion include growing demand for connected bias, need for real- time data transmission and analysis, deployment of smart bias and detectors, and emergence of advanced wireless communication technologies like 5G, LoRa, and NB- IoT. Also, investments in IoT structure, development of smart metropolises, and concentrate on artificial robotization are farther fueling request expansion. Overall, the request expansion is anticipated to continue as demand for IoT connectivity results increases.

COVID-19 Impact: Supply Chain Disruptions Led to Temporary Shortages of Products

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

The COVID- 19 epidemic has had a significant impact on the IoT wireless communication module request, with both positive and negative goods. The epidemic has accelerated the relinquishment of IoT technology in colorful diligence, particularly in healthcare and manufacturing as telehealth services and remote monitoring bias have come more important. This has increased the demand for IoT wireless communication modules, as these Biases calculate on wireless connectivity to transmit data. Also, the epidemic has led to an increased focus on robotization and digitization, which has further driven the demand for IoT wireless communication modules. Still, the epidemic has also led to force chain dislocations and retardation in R&D conditioning, which has affected the product and vacuity of IoT wireless communication modules. As a result, the epidemic has had a short- term negative impact on the request, but it's anticipated to drive the request growth in the long term as the need for digitalization and remote monitoring increases.

LATEST TRENDS

"Demand for digitalization across Multiple Business Verticals to Stimulate Market Development"

The growing demand for digitalization across multiple business verticals is propelling the request. Growing demand for low- conservation, powered wireless seeing outfit, as well as advancements in big data, are driving motorists in the IoT and associated technologies request. The expanding reach of pall computing is also a crucial motorist of expansion in IoT communication module request.

Furthermore, IoT is playing an important part in automating procedures and perfecting retail shop operating effectiveness. It offers energy operation, monitoring and security, logistics operation, force operation, and pool operation. IoT is also perfecting its cold chain monitoring chops for sensitive to temperature grocery and pharmaceutical goods.

IOT WIRELESS COMMUNICATION MODULES MARKET SEGMENTATION

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By Type

Depending on IOT wireless communication module market given are types: cellular communication and non-cellular communication.

• Cellular Communication Module: The global cellular communication module request size was valued at USD2.64 billion in 2016 and is anticipated to grow at a CAGR over the cast period. The growth can be attributed to adding demand for smart phones, tablets, and other smart bias coupled with rapid-fire relinquishment of 4G/ LTE technology across the globe.

• Non-Cellular Communication Module:Non-cellular communication module is used in IOT communication modules to establish a wireless connection between the bias. It helps in transferring data without using any cables for communicating. These modules are extensively used in Smart Home robotization, smart metropolises, and other similar operations where there's a need to transfer data from one device to another over large distances with minimal power consumption.

By Application

Based on application the global market can be categorized into consumer IOT, city service IOT, and industrial IOT.

• Consumer IOT: The consumer IOT includes the automotive sector. The growth of this sector is directly commensurable to the development of smart metropolises and Smart roadways. The consumer electronics member is also anticipated to witness significant growth in the future owing to adding demand for connected bias acrossall major regions.

• City Service IOT: The city service IoT in global IoT wireless communication modules refers to the application of IoT technology in city services to ameliorate effectiveness, sustainability, and quality of life for citizens. This can include IoT- enabled smart lighting systems, waste operation results, environmental monitoring, business operation, and public transportation systems. Wireless communication modules play a pivotal part in enabling bias to connect to the IoT network and exchange data with each other and central waiters. These modules generally use technologies similar as Wi- Fi, Bluetooth, LoRa, or cellular networks to transmit data securely and efficiently.

• Industrial Internet of Things:Increasing need for automation in various industry verticals is driving the IoT Communication Technologies Market. Growing demand for low maintenance, powered wireless sensing equipment and developments in big data are the pushing factors for IoT and its associated technologies market. Growing scope for the cloud computing is also an important growth factor for the IoT communication technologies market.

DRIVING FACTORS

"Incorporation in the Automotive Industries to Aid Market Expansion"

One of the key driving factors in the global IOT wireless communication modules market growth is incorporation in the automotive industries. The cellular IoT module market within the automotive assiduity is anticipated to grow significantly over the cast period due to increased demand for connected motorcars. Because they enable vehicles to interact with one another as well as with outside associations, connected buses are anticipated to beget major shifts in the automotive sector. This is anticipated to ameliorate security, reduce business traffic, and ameliorate conveyance effectiveness. To begin, there's a huge demand of cellular IoT modules within motorcars due to the increased demand for connected buses.

"Evolving Healthcare Sector to Foster Industry Progress"

Another the key driving factors in the global IOT wireless communication modules market is evolving healthcare sector. The growing demand for networked healthcare systems, as well as the necessity to reduce sanitarium stays, medical crimes, and raising healthcare charges, is driving the pattern of relinquishment of cellular IoT modules in healthcare installations. Government enterprise to support IoT in healthcare, as well as the growing fashionability of mHealth services, is anticipated to drive request growth. The adding number of medical centers and the adding demand for medical care are having an impact on the total cellular IoT module market share.

RESTRAINING FACTORS

"Due to Its Cost and Large Investment Restrain Market Growth"

The most significant chain in IoT technology is the cost. Despite the fact that IoT offers numerous benefits and has piqued the interest of company providers, small andmid-sized enterprises are reluctant to apply the technology due to the large investment needed. Lack of comity and element standardization is also impeding assiduity expansion.

IOT WIRELESS COMMUNICATION MODULES REGIONAL INSIGHTS

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"Asia Pacific to Support Market Advancement in End-User Industries by Generating Revenue"

The market is primarily segregated into Europe, Latin America, Asia Pacific, North America and Middle East & Africa

Asia-Pacific has emerged as the most dominant region in the global IOT wireless communication modules market share due to several factors. China is boots trappers in the manufacture of dispatches equipment. The availability of a wide range of options has resonated well with consumers in the region, catering to diverse preferences and interior decor styles. Additionally, the growing e-commerce industry and increasing disposable incomes have facilitated greater accessibility to products in the Asia-Pacific market, further contributing to its dominance in the global market share.

KEY INDUSTRY PLAYERS

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making cooperative sweats by partnering with other companies to stay ahead of the competition. Numerous companies are also investing in new product launches to expand their product portfolio. Combinations and accessions are also among the crucial strategies used by players to expand their product portfolios.

LIST OF KEY PLAYERS

• Quectel (China)
• Sunsea Group (China)
• Sierra Wireless (U.S.)
• Telit (U.K.)
• Gemalto (Netherland)
• U-Blox (Switzerland)
• Thales (Europe)
• Sequans Communications SA (Europe)
• Cavli Wireless (U.S.)
• Sony (Japan)
• Rolling Wireless (China)
• Huawei (China)
• LG Innotek (South Korea)
• FibocomWirelessinc (China)
• Neoway Technology (China)
• MeiG Smart Technology (China)
• GosuncnWelink Technology (China)
• China Mobile Communications Group(China)
• Lierda Science & Technology Group (China)
• ZTE (China)
• TD Tech (Hong Kong)
• Sichuan Ai-link Technology (China)
• Wingtech Technology (China)

INDUSTRIAL DEVELOPMENT

November 2023:The Global Mobile Economy Development Report 2023 released by GSMA Intelligence pointed out that by the end of 2022, the number of global mobile users would exceed 5.4 billion. The mobile ecosystem supports 16 million jobs directly and 12 million jobs indirectly.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.