Shulou(Shulou.com)11/24 Report--

CTOnews.com, October 17 (Xinhua) according to the latest report released by market research firm Counterpoint Research recently, shipments of global cellular Internet of things modules (excluding car embedded and telematics modules) fell 3% in the second quarter of 2023 compared with the same period last year due to falling demand and weak economy.

With the exception of smart meters, point-of-sale (POS) devices and automobiles, shipments have fallen sharply in most market segments. Smart meters, POS devices and cars, the top three applications, accounted for about 51% of the market in the second quarter of 2023, and India was the only market that saw positive growth in shipments in that quarter.

Commenting on market developments, Mohit Agrawal, deputy director of the agency, said:

In the second quarter of 2023, the Internet of things market shrank for the first time since the outbreak, and shipments from many component manufacturers declined.

Demand for networked devices triggered by the pandemic is weakening, while digital transformation efforts in industry and other key verticals have not yet been translated into shipments.

The report shows that the market share of mobile communications has declined, and China Mobile has overtaken Telit Cinterion to become the third largest manufacturer in the global cellular Internet of things module market with its strong performance in smart meters, POS and asset tracking applications.

CTOnews.com attaches a link to the original report here, which can be read in depth by interested users.

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