The latest research from market insights company IoT Analytics, ‘The Evolution of Cellular IoT Modules’ shows that shipments of cellular IoT modules and chipsets dropped 16% year-over-year in 2023, but projects a return to near 2022 levels in 2024.
The research explores the progression of cellular IoT modules and chipsets, focusing on the latest technological advancements in smart and AI-enabled cellular IoT modules as principal drivers for project expansion.
Key findings show that according to the most recent update of the Global Cellular IoT Module and Chipset Market Tracker and Forecast, shipments of cellular IoT modules and chipsets declined by 16% year-on-year in 2023. However, the tracker anticipates the market to rebound nearly to 2022 levels by 2024.
The emergence of smart and AI-enabled cellular IoT modules, facilitating data processing and decision-making at or near the edge, contributes significantly to this anticipated growth.
AI capabilities vary across AI-enabled cellular IoT modules, categorised into low, medium, and high based on AI inference speed, primarily influenced by the chipsets utilised.
“IoT devices are evolving beyond connecting devices and expanding to analysing the data they produce to make swift, informed choices. As a result, there is a growing need for more computational power and intelligence, especially at the edge closer to the data generated,” explained Satyajit Sinha, Principal Analyst at IoT Analytics.
“This trend is also apparent in the cellular IoT field, where integrating AI with cellular IoT modules and chipsets leads to more autonomous decision-making. It also minimises data transmission over cellular networks, reducing bandwidth and costs. On-device AI models powered by NPUs enhance this capability by enabling smart decision-making at the edge,” he concluded.
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