来源：Counterpoint Research 全球蜂窝物联网模组与芯片应用追踪报告，2025 年 Q3 智通财经APP获悉，根据Counterpoint Research 2025年Q3全球蜂窝物联网模组与芯片追踪报告，2025年Q3全球蜂窝物联网模组出货量同比增长10%。智能 仪表、资产追踪、路由器/CPE和汽车领域的文件需求持续推动市场保持增长趋势。传统RF/PLC系统向蜂窝网络的转型正在加速推进，为下一阶段以能力 为核心的物联网部署奠定基础。 与此同时，本季度盈利环境进一步收紧，现金流实力正成为竞争关键差异化因素。在平均销售价格（ASP）下行的环境下，只有流动性稳健的供应商才能 在不稀释利润的情况下继续投入RedCap、AI产品和客户支持体系。 高级分析师Tina Lu在评论区域趋势时指出："本季度的增长主要集中在新兴市场和价格敏感市场。印度市场同比增长40%，在智能电表、POS终端及远程 信息处理技术的带动下连续多个季度保持强势。中东非地区以较小基数取得了第二快增速，受益于国家级公用事业现代化及路由器/CPE应用需求。拉美 部分市场则依托远程信息处理和智能电表需求推动而扩张。" Lu补充道："成熟 ...

以下文章来源于Counterpoint 咨询 ，作者Counterpoint Counterpoint 咨询 . Counterpoint Research 是一家专注于科技行业的全球性研究公司，在全球主要的市场有着强大的影响 力。我们致力于为合作伙伴提供准确、及时的市场数据，帮助他们做出明智的决策。 根据 Counterpoint Research 2025 年 Q3 全球蜂窝物联网模组与芯片追踪报告 ，2025 年 Q3 全球蜂 窝物联网模组出货量同比增长 10%。智能仪表、资产追踪、路由器/CPE 和汽车领域的文件需求持续 推动市场保持增长趋势。传统 RF/PLC 系统向蜂窝网络的转型正在加速推进，为下一阶段以能力为 核心的物联网部署奠定基础。与此同时，本季度盈利环境进一步收紧，现金流实力正成为竞争关键 差异化因素。在平均销售价格（ASP）下行的环境下，只有流动性稳健的供应商才能在不稀释利润 的情况下继续投入 RedCap、AI 产品和客户支持体系。 按供应商划分的全球蜂窝物联网模组出货量份额 2024 年 Q3 vs 2025 年 Q3 来源：Counterpoint Research 全球蜂窝物联网 ...

沪版证券期货仲裁新规即将出台 记者获悉，上海仲裁委将在中国（上海）证券期货仲裁中心成立一周年时正式出台《上海仲裁委员会证 券期货仲裁规则》。该中心于2024年12月26日正式揭牌设立，这意味着上海版证券期货仲裁规则的出台 进入倒计时。就在12月14日，该《规则》的专家论证会在北京召开，以提升《规则》的科学性、合理性 以及可操作性。（第一财经） 我国首批L3级自动驾驶车型产品获得准入许可 工业和信息化部正式公布我国首批L3级有条件自动驾驶车型准入许可，两款分别适配城市拥堵、高速 路段的车型将在北京、重庆指定区域开展上路试点，标志着我国L3级自动驾驶从测试阶段迈入商业化 应用的关键一步。记者了解到，这次公布的两款车型，来自一南一北两个汽车生产厂家。重庆这家汽车 企业生产的纯电动轿车，可以实现在交通拥堵环境下高速公路和城市快速路单车道内最高时速50公里的 自动驾驶功能，目前该功能仅限在重庆市有关路段开启。而北京的这家汽车企业生产的这款纯电动轿 车，可以实现高速公路和城市快速路单车道内最高时速80公里的自动驾驶功能，目前该功能仅限在北京 市有关路段开启。据工业和信息化部信息，下一步，两款车型将由重庆及北京两家使用主体 ...

Investment Rating - The report gives a "Recommended" rating for the telecommunications industry, considering the sustained high prosperity of the sector driven by AI, 5.5G, and satellite communications [2][5]. Core Insights - The overall market performance for the telecommunications sector shows a weekly increase of 1.58%, while the broader indices experienced declines [2][10]. - The report highlights a significant upward adjustment in the Total Addressable Market (TAM) for data centers by Marvell, from $75 billion to $94 billion, with a compound annual growth rate (CAGR) of approximately 35% from 2023 to 2028 [3]. - The customized computing market is identified as the largest and fastest-growing segment within the data center hardware market, projected to reach $55.4 billion with a CAGR of about 53% [3]. Summary by Sections Market Overview - The telecommunications sector index increased by 1.58% during the week of June 16-20, 2025, while the Shanghai Composite Index fell by 0.51% [10]. - Among the sub-sectors, communication network equipment and devices saw the highest increase of 3.99%, while communication engineering and services experienced the largest decline of 3.58% [13][14]. Stock Performance - Notable stock performances include Chutianlong with a 36.59% increase, followed by Dongxinheping at 29.68%, and Hengbao Co. at 20.99% [15]. Industry News - LightCounting forecasts a 10% quarter-over-quarter growth in optical module sales, driven primarily by 800G Ethernet modules [17]. - YOLE Group reports that the rapid development of AI is driving the widespread adoption of Co-Packaged Optics (CPO), with the market expected to grow from $46 million in 2024 to $8.1 billion by 2030, reflecting a CAGR of 137% [22]. Key Announcements - The report notes significant corporate announcements, including East Mountain Precision's acquisition of Solstice Optoelectronics for up to $629 million to enhance its optical communication business [33].

Core Insights - The global cellular IoT module shipments are expected to continue their growth trend, with a year-on-year increase of 16% in Q1 2025, driven by strong demand in India, China, and Latin America for smart meters, POS terminals, and asset tracking [1] - India leads the growth with a remarkable 32% year-on-year increase, while North America and some Asia-Pacific markets experience a decline due to weak demand and macroeconomic headwinds [1] - 5G technology is the fastest-growing segment, with a year-on-year growth of 37%, followed closely by Cat 1 bis technology, which also shows strong growth at 35% [1] Market Dynamics - China maintains its leadership in the global IoT module market with a 19% year-on-year growth, supported by the adoption of 5G and Cat 1 bis technologies in various sectors [1] - The average selling prices of modules and chips are decreasing, leading to increased price pressure from Chinese competitors, prompting companies to seek breakthroughs in higher-margin areas [4] - Qualcomm remains the leader in the chip market, with ASR and UNISOC following in second and third place, respectively [5] Manufacturer Performance - Quectel retains the top position in global cellular IoT module shipments, with China Mobile and Fibocom following closely, collectively accounting for over 50% of global shipments [4] - China Mobile's market share has surpassed double digits due to strong domestic demand for 4G Cat 1 bis modules [4] - u-blox has exited the cellular IoT module business to focus on its core strengths in GNSS and short-range connectivity [4] Future Outlook - The cellular IoT module market is expected to grow steadily in 2025, driven by demand for smart interconnected devices, asset tracking, and automotive applications in emerging markets [6] - Geopolitical tensions, strategic adjustments by manufacturers, and supply chain dynamics may constrain growth [6] - Chinese manufacturers are likely to maintain their global dominance, while Western manufacturers may benefit from demand recovery and easing geopolitical tensions [6]