Global cellular IoT module shipments increased 15 percent year-on-year in 2025, according to data published by Counterpoint Research on March 11, 2026. Smart meters, point-of-sale (PoS) terminals, and the automotive segment drove the market’s expansion.
China continued to dominate global shipments, supported by strong domestic demand for PoS, asset-tracking, and surveillance applications. Meanwhile, emerging markets recorded notable acceleration, with India, the Middle East, and Latin America posting strong growth figures.
4G Cat-1 bis Emerges as Key Connectivity Standard
Counterpoint Research principal analyst Tina Lu described the rise of 4G Cat-1 bis as “one of the most significant developments during the year.” The standard’s balance of affordability, performance, and simplified design positioned it as the preferred connectivity option for high-volume telecommunications deployments.
“5G adoption accelerated simultaneously, with volumes growing almost three-times the industry average, particularly in higher-bandwidth IoT segments such as automotive, routers/CPE and PCs.”
Tina Lu, Principal Analyst, Counterpoint Research
Lu also highlighted the early commercialisation of 5G reduced capability (RedCap) as a milestone. RedCap is expected to bridge the gap between low-power IoT technologies and high-performance 5G connectivity in the coming years.
Cellular IoT Module Shipments: Vendor Market Share
Quectel maintained its position as the market leader, holding a 36 percent share in 2025, roughly consistent with its 2024 performance. China Mobile ranked second with an 11 percent share, driven by deployments in connected two-wheelers, asset trackers, and AI toys. No other vendor exceeded a 10 percent global market share for the year.
Outside China, Telit Cinterion remained the leading international vendor. Counterpoint Research attributed this position to the company’s presence in telematics, healthcare, and energy verticals across Europe and North America.
Pricing Pressure and Supply Constraints
Counterpoint Research Director of IoT Practice Mohit Agrawal stated that average selling prices (ASPs) remained under pressure in 2025, despite strong shipment growth. Intense competition among vendors, particularly from China-based players, continued to push pricing lower and tighten margins.
“Memory supply constraints in Q4 2025 impacted the bill of materials for 5G and smart module categories, particularly those used in routers, PCs and higher-performance IoT devices.”
Mohit Agrawal, Director of IoT Practice, Counterpoint Research
Regional Growth and Future Outlook
The Middle East featured among the regions recording accelerated IoT deployments in 2025. This aligns with broader regional investment in smart devices and connected infrastructure. Analysts expect RedCap and continued 5G expansion to shape the market’s trajectory through the remainder of the decade.
The cellular IoT module shipments data underscores a market balancing rapid volume growth against persistent margin compression, with technology transitions in connectivity standards adding further complexity for vendors and buyers alike.