IoT Analytics: Cellular IoT module shipments rose 15% in H1

TL;DR

• IoT Analytics said cellular IoT module shipments increased 15% year-on-year in H1.
• LTE Cat 1 bis modules dominated shipments in H1, while 5G deployment remained gradual and focused on higher-value applications.
• China was the largest IoT module market, and India recorded the fastest growth.

IoT Analytics said cellular IoT module shipments rose 15% year-on-year in H1, with growth supported by an acceleration in Q2 despite memory component shortages affecting other device sectors.

IoT Analytics said LTE Cat 1 bis modules dominated the market in H1. The firm said 5G deployment remained relatively gradual and concentrated on higher-value applications.

Senior principal analyst Satyajit Sinha said it remains unclear how much of the market's H1 performance reflected underlying demand versus orders pulled forward because of longer lead times and rising component costs. Sinha said steady demand for LTE Cat 1 bis modules and new projects could support shipment strength in the second half.

IoT Analytics said RedCap and eRedCap modules remained nascent in H1 and were only beginning to move from roadmap to volume as devices became available and standalone 5G coverage expanded. The firm also said NB-IoT continued to decline from a peak in Q1 2024, while China remained the largest market and India posted the fastest growth.