LONDON--(BUSINESS WIRE)--The cellular IoT market is poised for significant growth in the coming years, with connections expected to surge to 5.9 billion by 2035, as revealed by new research from Omdia. Automotive will comprise one in five cellular IoT connections in 2035 The automotive segment will rise from 500m connections to around 1.2bn over the next ten years, increasing its market share from 13% to 21%. Most of this connection growth will originate from Asia & Oceania, which will see its automotive se ...

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Group 1 - The core viewpoint of the article highlights the significant growth in the global cellular IoT module market, with a year-on-year shipment increase of 16% driven by strong demand from India, China, and other regions [1][10] - The top five companies in the cellular IoT module market are all Chinese firms, accounting for 69% of global shipments, indicating a high market concentration [2][10] - The leading company, Quectel, holds a substantial 37% of the global shipment share, with a year-on-year growth of 17%, slightly above the global average [5][10] Group 2 - China Mobile experienced a remarkable 77% growth in shipments, moving from a lower position to second place, surpassing Guanghetong [5][10] - Guanghetong ranked third with a shipment growth rate of 29%, while the fourth-ranked company, Rihai, had a slower growth of only 9% [5][10] - The fifth company, Lierda, showed a significant 62% growth, indicating potential for further advancement in rankings if the trend continues [5][10] Group 3 - The article notes that the market structure has remained stable, with Chinese companies dominating both shipment volume and revenue, but challenges persist for these firms in international markets [11][10] - Geopolitical factors pose significant challenges for Chinese companies seeking to expand overseas, with concerns over network security leading to increased scrutiny and regulatory hurdles [12][14] - The rapid evolution of technology presents product planning challenges for cellular IoT module companies, as they must navigate competitive pressures and potential opportunity costs [15][10] Group 4 - The need for localization in overseas markets is emphasized, as Chinese firms must adapt to local demands and regulatory environments to maintain their competitive edge [16][17] - The article suggests that while Chinese companies have captured a significant market share, sustaining high growth rates in a low-growth environment will be increasingly difficult [16][10] - Establishing a localized ecosystem and understanding market needs are crucial for Chinese firms to thrive in international markets [17][10]