TMCnet News

Cellular Modem Market worth $12.4 billion by 2028 - Exclusive Report by MarketsandMarkets™
[November 22, 2023]

Cellular Modem Market worth $12.4 billion by 2028 - Exclusive Report by MarketsandMarkets™


CHICAGO, Nov. 22, 2023 /PRNewswire/ -- The Cellular Modem Market is projected to grow from USD 4.8 billion in 2023  and is estimated to reach USD 12.4 billion by 2028; it is expected to grow at a Compound Annual Growth Rate (CAGR) of 20.6% from 2023 to 2028 according to a new report by MarketsandMarkets™. The key factors contributing to the growth of the cellular modem market include High demand for smart home devices, and Strong preference for e-learning and online education. Cellular modems allows students and educators in areas with limited broadband access can participate in online classes, engage in live video lectures, and access interactive learning platforms.

MarketsandMarkets_Logo

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=135102534

Browse in-depth TOC on "Cellular Modem Market"

149 – Tables
75 – Figures
244 – Pages

Cellular Modem Market Report Scope:





Report Coverage

Details

Market Revenue in 2023

$4.8 billion

Estimated Value by 2028

$12.4 billion

Growth Rate

Poised to grow at a CAGR of 20.6%

Market Size Available for

2019–2028

Forecast Period

2023–2028

Forecast Units

Value (USD Million/Billion)

Report Coverage

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Segments Covered

Offering, Deployment, Application, End-Use and Region.

Geographies Covered

North America, Europe, Asia Pacific, and Rest of World

Key Market Challenge

Increasing adoption of telemedicine and remote healthcare services

Key Market Opportunities

Limited coverage of cellular networks in remote or rural areas

Key Market Drivers

Rapid evolution and adoption of advanced wireless technologies


 

The embedded cellular modems segment to grow at the fastest CAGR during the forecast period.

Embedded cellular modems industry are integrated directly into devices during the manufacturing process. These modems are designed to be integral to various electronic devices, such as smartphones, tablets, laptops, IoT devices, and industrial equipment. Embedded cellular modems provide seamless, always-on connectivity, allowing devices to access the internet, exchange data, and communicate with other devices or central servers. These modems are commonly found in consumer electronics, automotive systems, smart appliances, and industrial machinery, enabling these devices to connect to cellular networks and offer enhanced features to end-users.

NB-IoT cellular modem segment holds the second highest market share during the forecast period

Based on Narrowband IoT technology, NB-IoT cellular modems represent a significant advancement in the Internet of Things (IoT) landscape. These modems are engineered for low-power, wide-area IoT connectivity, making them ideal for applications that require long battery life and seamless coverage in challenging environments. NB-IoT technology operates in licensed spectrum bands, ensuring secure and interference-free communication.

Furthermore, NB-IoT cellular modems offer exceptional energy efficiency, enabling devices to operate on a single battery charge for years. This longevity is vital for applications such as smart meters, environmental sensors, and healthcare devices, where continuous, low-power operation is crucial. The modems provide reliable, bidirectional communication, allowing IoT devices to send data to the cloud and receive commands remotely. As the demand for IoT solutions continues to grow, NB-IoT cellular modems play a pivotal role in enabling scalable, cost-effective, and long-lasting connectivity for a wide array of IoT applications, ensuring seamless integration into the evolving IoT ecosystem.

Inquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=135102534

Healthcare segment to display highest CAGR during forecast period

Cellular modems play a vital role in the healthcare sector, revolutionizing patient care, improving operational efficiency, and enhancing overall healthcare services. These modems enable secure and real-time communication, making them indispensable in various applications within healthcare facilities and remote patient monitoring.  One of the primary applications of cellular modems in healthcare is telemedicine and remote patient monitoring. Patients with chronic conditions or those in remote locations can use medical devices equipped with cellular modems to measure vital signs, such as blood pressure, heart rate, and glucose levels. The data is transmitted in real-time to healthcare professionals, allowing for continuous monitoring and timely intervention, thus improving patient outcomes and reducing hospital readmissions.

North America to hold the second-largest share of the cellular modem market during the forecast period.

The North American cellular modem market is poised for significant growth in the coming years, driven by the rapid rollout of 5G networks and the increasing demand for high-speed connectivity. The US expects a particularly strong boost from 5G deployment. CTIA forecasts that the technology will contribute USD 1.5 trillion to the US GDP and create 4.5 million jobs in the next decade. The Canadian and Mexican governments are also investing heavily in 5G infrastructure, which is expected to further fuel demand for cellular modems in these countries. In addition to government support, the advancement of next-gen 5G technologies incorporating artificial intelligence is opening up new applications in areas such as clean energy smart cities, precision agriculture, driverless vehicles, and telemedicine, which will also drive demand for cellular modems. As a result, the North American cellular modem market is expected to experience substantial growth in the coming years.

The cellular modem companies Digi International Inc. (US), Sierra Wireless (Canada), Qualcomm Technologies, Inc. (US), D-Link Corporation (Taiwan); Huawei Device Co., Ltd. (China); TP-Link Corporation Limited. (China); Xiamen Baima Technology Co., Ltd (China); NETGEAR (US); Advantech Co., Ltd. (Taiwan); Cisco Systems, Inc. (US); Moxa Inc. (Taiwan); Multi-Tech Systems, Inc. (US); Belkin (US); Peplink (US); Robustel (China); LANTRONIX, INC. (US); InHand Networks (US); Motorola Mobility LLC (US); Bentek Systems (Canada); Campbell Scientific, Inc.(US); Red Lion (US); Shenzhen Wlink Technology Co., LTD. (China); Jinan USR IOT Technology Limited (China); Bivocom (China); and Airgain, Inc.(US) are the major players in cellular modem market. These players have implemented various strategies to extend their global reach and enhance their market shares.

Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=135102534

Browse Adjacent Market: Semiconductor and Electronics Market Research Reports &Consulting

Related Reports: 

Cellular IoT Market Size, Share & Industry Growth Analysis Report by Component (Hardware, Software, and Services), Technology (2G, 3G, 4G, LTE-M, NB-LTE-M, NB-IoT, and 5G), Application, Vertical and Geography(North America, Europe, APAC, South America & MEA) - Global Growth Driver and Industry Forecast to 2027

Cellular M2M Market by Service (Connectivity, Professional, and Managed), Application (Asset Tracking and Monitoring, Predictive Maintenance, Telemedicine, and Fleet Management), End User, Organization Size, and Region - Global Forecast to 2025

 About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Aashish Mehra

MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]
Visit Our Web Site: https://www.marketsandmarkets.com/
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/cellular-modem-market.asp 
Content Source: https://www.marketsandmarkets.com/PressReleases/cellular-modem.asp 

Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg

 

Cision View original content:https://www.prnewswire.co.uk/news-releases/cellular-modem-market-worth-12-4-billion-by-2028---exclusive-report-by-marketsandmarkets-301995756.html


[ Back To TMCnet.com's Homepage ]