Global Cellular Modem Market Size to worth USD 30.1 Billion by 2033: Market Insight Report

Global Cellular Modem Market Size to worth USD 30.1 Billion by 2033

According to a research report published by Spherical Insights & Consulting, the Global Cellular Modem Market Size is Expected to Grow from USD 4.5 Billion in 2023 to USD 30.1 Billion by 2033, at a CAGR of 20.93% during the forecast period 2023-2033.  

Browse key industry insights spread across 210 pages with 110 Market data tables and figures & charts from the report on the Global Cellular Modem Market Size, Share, and COVID-19 Impact Analysis, By Device Type (Embedded and Removable), By Form Factor (M.2, PCIe, and USB), By Application (Automotive, Industrial, Consumer Electronics, and Healthcare), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033.           

The cellular modem market comprises devices offering internet connectivity through cellular networks which is essential in the region where mobility and connectivity are paramount. These modems enable seamless connectivity for applications in agriculture, healthcare, transportation, and smart cities. The trend of digital payments in the FinTech sector and the surging adoption of telemedicine and remote healthcare services are offering opportunities for the cellular modem market. The rapid evolution and adoption of advanced wireless technologies along with the rising demand for advanced connectivity solutions in Industry 4.0 are driving the market growth for cellular modem. Further, the growing need for reliable and high-speed internet connectivity across different sectors is propelling the market. On the contrary, the interoperability issues associated with cellular networks are challenging the cellular modem market. The limited coverage of cellular networks in remote or rural areas is also responsible for restraining the market growth for cellular modem.

The embedded segment is anticipated to hold the largest share of the cellular modem market in 2023.

Based on the device type, the global cellular modem market is divided into embedded and removable. Among these, the embedded segment is anticipated to hold the largest share of the cellular modem market in 2023. It is used to realize the connection and communication between the device and the Internet or other networks. Embedded modems are integrated into a wide range of consumer electronics, such as smartphones, tablets, laptops, and IoT devices.

The M.2 segment is anticipated to hold the largest share of the cellular modem market during the forecast period.

Based on the form factor, the global cellular modem market is divided into M.2, PCIe, and USB. Among these, the M.2 segment is anticipated to hold the largest share of the cellular modem market during the forecast period. This form factor is used for wi-fi/bluetooth/cellular modules that can integrated into laptops and various other devices.

The automotive segment is expected to dominate the market during the forecast period.

Based on the application, the global cellular modem market is divided into automotive, industrial, consumer electronics, and healthcare. Among these, the automotive segment is expected to dominate the market during the forecast period. The growing adoption of cellular modems in connected cars, autonomous vehicles, and telematics systems is responsible for driving the market in the automotive segment.

North America is projected to hold the largest share of the global cellular modem market over the forecast period.

North America is projected to hold the largest share of the global cellular modem market over the forecast period. The presence of well-established telecommunication infrastructure and adoption of advanced technologies such as 5G which drives the need for high-speed connectivity are responsible for driving the market. The prevalence of IoT applications in various sectors along with the government initiatives promoting digital transformation and funding for technological advancements are significantly contributing to drive market growth.

Asia Pacific is predicted to grow at the fastest CAGR in the cellular modem market over the forecast period. The use of cellular modems in healthcare, automotive, manufacturing, and consumer electronics that require innovative solutions is driving the market demand. Further, the rapid urbanization and growing internet penetration in places with limited access to wired broadband connections lead to the adoption of cellular modems, thereby propelling the market.

Competitive Analysis

Major key players in the cellular modem market include Digi International Inc., Sierra Wireless, Qualcomm Technologies, Inc., D-Link Corporation, Huawei Device Co., Ltd., TP-Link Corporation Limited, Xiamen Baima Technology Co., Ltd., NETGEAR, Advantech Co., Ltd., Cisco Systems, Inc., Moxa Inc., Multi-Tech Systems, Inc., Belkin, Peplink, Robustel, LANTRONIX, INC., InHand Networks, and Others.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In March 2023, Digi International, a leading provider of Internet of Things (IoT) connectivity solutions, expanded its Digi XBee 3 Global Cellular family of solutions with the unveiling of Digi XBee 3 Cellular LTE Cat 1 and Digi XBee 3 Cellular LTE-M/NB-IoT smart modems for global deployment.

• In February 2023, Qualcomm Technologies unveiled its Snapdragon X35 5G Modem-RF System, the world’s first 5G NR-Light modem-RF system. NR-Light, a new class of 5G, fills the gap between high-speed mobile broadband devices and extremely low-bandwidth NB-IoT devices.

• In November 2022, Qualcomm Technologies, Inc. and Siemens Smart Infrastructure are working together to reimagine building automation by applying a 5G private network (PN), based on the Snapdragon X55 5G Modem-RF System in the Americas.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global cellular modem market based on the below-mentioned segments:

Global Cellular Modem Market, By Device Type

• Embedded
• Removable

Global Cellular Modem Market, By Form Factor  

• M.2
• PCIe
• USB

Global Cellular Modem Market, By Application   

• Automotive
• Industrial
• Consumer Electronics
• Healthcare

Global Cellular Modem Market, Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa