Global Cellular Modem Market size and share is currently valued at USD 5.03 billion in 2023 and is anticipated to generate an estimated revenue of USD 14.47 billion by 2032, according to the latest study by Polaris Market Research. Besides, the report notes that the market exhibits a robust 12.5% Compound Annual Growth Rate (CAGR) over the forecasted timeframe, 2024 – 2032
Market Overview:
The cellular modem market is experiencing significant growth as businesses and consumers increasingly rely on wireless connectivity for communication, data transfer, and IoT applications. Cellular modems enable devices to connect to mobile networks, facilitating seamless communication over 4G, 5G, and other wireless standards. Their applications span across industries, including automotive, healthcare, consumer electronics, and industrial automation, making them a cornerstone of modern connectivity. The rising demand for always-on connectivity, combined with advancements in network infrastructure, is propelling the adoption of cellular modems globally.
Key Trends in the Cellular Modem Market:
- Adoption of eSIM Technology
The integration of embedded SIM (eSIM) technology in cellular modems is a growing trend, offering greater flexibility in network management. This allows devices to switch carriers without the need for physical SIM cards, simplifying global deployments. - Miniaturization and Energy Efficiency
Manufacturers are focusing on designing compact and energy-efficient cellular modems to meet the requirements of portable devices and battery-operated IoT applications. These innovations are driving adoption in consumer electronics and wearables. - Focus on Multi-Band and Multi-Network Support
Cellular modems with multi-band and multi-network support are gaining traction, as they enable seamless connectivity across different regions and network types. This is particularly important for global IoT deployments and cross-border applications. - Integration with AI and Edge Computing
The incorporation of AI and edge computing capabilities in cellular modems is enhancing their functionality. These advanced modems can process data locally, reducing latency and bandwidth requirements for critical applications like smart manufacturing and autonomous systems.
𝐆𝐞𝐭 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐨𝐟 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭:
https://www.polarismarketresearch.com/industry-analysis/cellular-modem-market/request-for-sample
Some of the major players operating in the global market include:
- Advantech Co., Ltd.
- Airgain, Inc.
- Belkin
- Bentek Systems
- Campbell Scientific, Inc.
- Cisco Systems, Inc.
- D-Link Corporation
- Digi International Inc.
- Huawei Device Co., Ltd.
- InHand Networks
- Jinan USR IOT Technology Limited
- LANTRONIX, INC.
- Moxa Inc.
- Motorola Mobility LLC
Recent Developments in the Cellular Modem Market
- Renesas Acquires Sequans Communications (August 2023)
In August 2023, Renesas, a leading provider of advanced semiconductor solutions, announced its acquisition of Sequans Communications, a specialist in cellular IoT technology. This acquisition aims to strengthen Renesas’ position in the cellular modem market and enhance its IoT connectivity offerings. - MediaTek and Skyworks Collaboration on 5G Automotive Solutions (November 2022)
In November 2022, MediaTek and Skyworks joined forces to deliver cutting-edge modem-to-antenna solutions for 5G-enabled automotive applications. This partnership focuses on providing seamless, high-performance connectivity for next-generation connected vehicles. - Qualcomm and Viettel Partnership for 5G Radio Development (May 2022)
In May 2022, Qualcomm collaborated with Viettel to develop an advanced 5G radio unit featuring massive MIMO capabilities. The partnership also includes the creation of a distribution unit to support next-generation wireless networks, enhancing 5G deployment efficiency.
𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐥 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰:
The Cellular Modem Market segmentation divides the market into several segments. The industry segmentation is primarily based on product type, application, end-use, and geographic factors. Besides, the research study covers several sub-segments of the market. An in-depth examination of each market segment and sub-segment has been provided, covering the industry size, growth prospects, industry drivers, and challenges. The detailed market segmentation helps stakeholders identify the diverse needs of different consumer groups in the market. Also, it pinpoints opportunities for targeted marketing and product development strategies.
Cellular Modem Market, Type Outlook (Revenue – USD Billion, 2019-2032)
- Embedded Cellular Modem
- Box Portable Cellular Modem
Cellular Modem Market, Vertical Outlook (Revenue – USD Billion, 2019-2032)
- Agriculture
- Automotive & Transportation
- Building Automation
- Consumer Electronics
- Energy & Utilities
- Healthcare
- Industrial/Manufacturing
- Retail
- Smart Cities
- Others
Cellular Modem Market, Technology Outlook (Revenue – USD Billion, 2019-2032)
- 2G
- 3G
- 4G
- 5G
- NB-IoT
- LTE-M
The cellular modem market is poised for substantial growth, driven by the increasing demand for reliable wireless connectivity across a variety of applications. Key trends such as 5G adoption, eSIM integration, and advancements in IoT ecosystems are shaping the market’s future. As industries continue to embrace digital transformation, cellular modems will remain a critical enabler of seamless and efficient communication.