Cellular Modem Market Forecast: Surging to USD 12.4 Billion by 2028 with Significant Growth in the Asia Pacific Region

Dublin, Jan. 23, 2024 (GLOBE NEWSWIRE) -- The "Cellular Modem Market by Type (Embedded Cellular Modem, and Box Portable Cellular Modem), Technology (2G,3G,4G,5G, NB-IoT, and LTE-M), Vertical (Agriculture, Automotive & Transportation, Smart Cities, and Healthcare), Region - Global Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.

Emerging Trends and Expansive Growth Projected in the Global Cellular Modem Arena, Spanning Diverse Verticals and Geographies

The global cellular modem market, a crucial component of the interconnected smart technology ecosystem, is expected to undergo substantial growth, with current valuations at USD 4.8 billion in 2023 soaring to an estimated USD 12.4 billion by 2028. This impressive growth trajectory, at a compound annual growth rate (CAGR) of 20.6%, demonstrates the sector's dynamic expansion propelled by the integration of advanced wireless technologies and the escalating popularity of e-learning platforms.

Rise of Smart Home Devices Surge Cellular Modem Demand
Smart home devices have become increasingly prevalent, necessitating consistent and reliable internet connectivity. Cellular modems, integral to this paradigm, are witnessing heightened demand as they facilitate robust connectivity for a myriad of smart devices within the home. From enabling real-time remote monitoring to offering unparalleled control over various household functions, these devices underscore the essential role of cellular modems in delivering an uncompromised smart home experience.

Edge Computing Elevates IoT Efficiency
Edge computing's tailored data processing capabilities bolster the operational efficiency of IoT devices. By positioning data analysis closer to the source, edge computing, powered by cellular modems, validates its indispensability. This advanced processing enhances decision-making processes in real-time, especially in sectors such as manufacturing and healthcare, which rely heavily on the immediacy of data-driven actions.

  • IoT devices in smart buildings and industrial plants can leverage edge computing for localized data analysis.
  • Real-time decision-making capabilities are improved with the adoption of edge computing, leading to optimized operations.
  • Cellular modems provide the connectivity backbone, essential for the IoT ecosystem to thrive in various vertical markets.

Asia Pacific's Escalating Cellular Modem Market Potential
The Asia Pacific market is projected to register the fastest growth in the cellular modem sector. The region's unparalleled expansion can be attributed to the swift adoption of IoT technologies and the progressive deployment of innovative mobile networks. With a significant emphasis on enhancing connectivity infrastructure, Asia Pacific stands as a vital contributor to the global market's evolution.

Comprehensive Market Analysis for Strategic Insight
The latest research publication provides a detailed segmentation of the cellular modem market, analyzing key regions and technologies driving the industry forward. It offers insights into various applications across diverse verticals, including Agriculture, Automotive & Transportation, and Smart Cities. The report's coverage reveals drivers, restraints, and opportunities that shape the market landscape, providing stakeholders with critical data for informed decision-making.

Key Market Drivers and Technological Influence
The report casts light on notable factors influencing the market's progression:

  1. Enhanced Connectivity: Increased reliance on advanced connectivity for Industry 4.0 implementations is a significant growth driver.
  2. Digital Payment Trends: The financial technology sector is experiencing a surge in digital payments, influencing market dynamics.
  3. Telemedicine Adoption: A growing trend in telehealth services necessitates robust connectivity solutions, further stimulating market growth.

Stakeholders can gain valuable insights into the competitive landscape, product innovation, market potential, and strategic developments across the industry. This encompasses the comprehensive assessment of market dynamics and prospects in an increasingly connected world.

Key Attributes:

Report AttributeDetails
No. of Pages245
Forecast Period2023 - 2028
Estimated Market Value (USD) in 2023$4.8 Billion
Forecasted Market Value (USD) by 2028$12.4 Billion
Compound Annual Growth Rate20.6%
Regions CoveredGlobal

Companies Mentioned

  • 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
  • Motorola Mobility LLC
  • Bentek Systems
  • Campbell Scientific, Inc.
  • Red Lion
  • Shenzhen Wlink Technology Co. Ltd.
  • Jinan USR IoT Technology Limited
  • Bivocom
  • Airgain, Inc.

For more information about this report visit https://www.researchandmarkets.com/r/sepicl

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Global Cellular Modem Market

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