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Cellular Modem Market Size

Report ID: GMI7565
Published Date: Dec 2023
Report Format: PDF

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Cellular Modem Market Size

Cellular Modem Market was valued at over USD 4.5 billion in 2022 and is estimated to register a CAGR of over 12.5% between 2023 and 2032. The robust market growth is credited to several key factors. Firstly, the global proliferation of 5G technology continues to stimulate demand for high-speed and low-latency connectivity, propelling the adoption of 5G cellular modems. Additionally, the increasing integration of cellular connectivity in a myriad of tools including IoT devices, smart home gadgets, and industrial equipment contributes significantly to market expansion.

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For instance, in February 2021, MediaTek announced the M80 5G Modem, a new generation of 5G modems that are designed for mid-range and high-end smartphones. The M80 supports both 5G sub-6GHz and mmWave bands, and it is capable of downlink speeds of up to 7.5Gbps. The surging demand for reliable and fast data connectivity in automotive applications, such as connected cars and telematics, acts as another growth aspect. Advancements in semiconductor technology, facilitating the development of energy-efficient and compact modems, are also fostering market growth. Lastly, the rising consumer preference for mobile broadband services and the ongoing digital transformation across industries are creating a conducive environment for the market's sustained growth.

Cellular Modem Market Report Attributes
Report Attribute	Details
Base Year:	2022
Cellular Modem Market Size in 2022:	USD 4.5 Billion
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	12.5%
2032 Value Projection:	USD 16 Billion
Historical Data for:	2018 to 2022
No. of Pages:	220
Tables, Charts & Figures:	355
Segments covered:	Type, technology, application, vertical, and region
Growth Drivers:	5G technology adoption Internet of Things (IoT) Expansion Rising demand for connected cars Increasing smartphone penetration Industrial automation and Industry 4.0
Pitfalls & Challenges:	Regulatory and spectrum challenges Cybersecurity concerns

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Despite the optimistic outlook, the cellular modem industry faces certain constraints. First, regulatory challenges and spectrum allocation issues can impede the seamless deployment of advanced cellular technologies. Regulatory complexities may vary across regions, affecting the pace of network expansion and technology adoption. Second, concerns related to cybersecurity and privacy issues associated with the increasing connectivity of devices through cellular networks pose a potential hurdle. As the number of connected devices grows, the need for robust security measures becomes paramount to mitigate potential threats, impacting the pace of adoption in certain sectors.

Authors: Suraj Gujar , Sandeep Ugale

Frequently Asked Questions (FAQ) :

The global market size for cellular modem was valued at USD over 4.5 billion in 2022 and is estimated to register over 12.5% CAGR between 2023 and 2032 as the global proliferation of 5G technology continues to stimulate demand for high-speed and low-latency connectivity.

The embedded modems segment dominated the market with a share of over 45% in 2022 and is estimated to reach over USD 7 million by 2032 owing to their compact design, energy efficiency, and the increasing demand for connected devices.

Asia Pacific cellular modem industry share was over 34% in 2022 and will grow significantly through 2032 owing to the region’s high population density, coupled with the increasing smartphone penetration and mobile device adoption.

Qualcomm Incorporated, Intel Corporation, MediaTek Inc., Samsung Electronics Co., Ltd., Huawei Technologies Co., Ltd., Sierra Wireless, Inc., and Fibocom Wireless Inc.