IoT LTE Module Market Key Highlights:
- Market Size (2024): USD 7.36 Billion
- Projected Market Size (2034): USD 25.65 Billion
- CAGR (2023-2034): 13.30%
Pricing Analysis:
- Price Growth
- Regional Variations
Market Historic Sales
- Total sales volume, year-over-year growth, product categories, and market share.
Revenue Estimation
- Forecasting future revenues based on historical data, market trends, and economic indicators.
Sales by Region
- Breakdown of sales performance across different geographical areas.
Revenue by Manufacturer
- Analysis of revenue contributions from different manufacturers in the market.
IoT LTE Module Market Definition
The IoT LTE module market deals in developing devices for communicating with the internet and other devices using a cellular network. These devices are used to exchange data between cloud servers and enterprise servers. The components of this industry consist of hardware and software. These modules are used in several applications, including broadband IoT, massive IoT, industrial automation, and critical IoT. The connections supported by these devices consist of WIFI, broadband, satellite, cable, and some others. This market is likely to rise significantly with the growth of the telecom sector across the world.
The demand for IoT LTE modules has increased in the agricultural and healthcare sectors. In the agricultural sector, these modules are used in IoT devices for agriculture to enhance precision farming. In the healthcare sector, these devices are used in remote patient monitoring and telemedicine applications. Also, the application of LTE modules has grown in the automotive sector. In the automotive industry, these devices are used in predictive maintenance, remote control, improved safety, in-car entertainment, and other automotive applications. Moreover, the usage of these modules has increased in the manufacturing sector. In the manufacturing industry, the IoT LTE module helps in factory automation, real-time monitoring, predictive maintenance, asset tracking, and others. Thus, the growing application of these devices in the above-mentioned sectors is expected to drive the growth of the IoT LTE module market.
Advancements in voice over LTE (VoLTE) along with growing demand for module-based design is expected to create ample growth opportunities for the market players in the future. In October 2024, Fibocom launched LE270-CN/LE270-EU/LE270-LA. It is a LTE Cat 1bis module designed for water meters, smart electricity meters and gas meters.
IoT LTE Module Market Segmentation:
By Type
- LTE Cat.1/LTE Cat.1 bis
- LTE-M
- Others
By Application
- Smart Meter
- Security
- Payment Terminal
- Automotive
- Others
IoT LTE Module Market Companies:
- Quectel
- MeiG
- Fibocom
- Sunsea AIoT Technology
- Semtech
- Telit Cinterion
- China Mobile IOT Company
- Shanghai HeZhou Communication
- Ubox
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