2024-06-27 17:14:52
Cellular IoT module market Q1 2024 update: Demand recovery, market trends
The IoT Analytics team's report highlights a 7% year-over-year growth in the cellular IoT module market during Q1 2024, driven by increased demand in China despite global inventory management strategies. This growth is bolstered by advancements in 5G and LTE Cat 1 bis technologies, which saw a combined 67% increase in market share. Key sectors contributing to this expansion include embedded automotive and various access points, with China's market influence remaining pivotal, representing 54% of global revenues.
