Lu noted, “5G shipments grew 57% YoY in Q2 2025, led by router/CPE, PCs and automotive, reaching 8% of the market. At the same time, 4G Cat 1 bis remained the backbone of the mass-market IoT ecosystem due to its affordability, ease of design, and wide network availability. Meanwhile, 5G RedCap shipments surged nearly 800% YoY from a low base, signaling the beginning of its commercial ramp, with growth concentrated in China across router/CPE, surveillance, and energy sectors.”

Global Cellular IoT Module Shipments Share by Vendor, Q2 2025

Source: Counterpoint Research Global Cellular IoT Module and Chipset Tracker by Application, Q2 2025

Vendor performance

• Quectel retained its global lead, followed by China Mobile. Sunsea (SIMCom and Longsung), which posted nearly 50% growth fueled by strong demand in industrial PCs, smart metering and surveillance cameras in China, rose to third place, overtaking Fibocom from the previous quarter.
• Lierda climbed to fourth place with strong Cat 1 bis momentum, supported by domestic IP camera demand and expansion into South Korea, where Cat 1 bis is beginning to replace LTE-M in telematics and asset tracking.
• Outside China, Telit Cinterion ranked second behind Quectel, supported by stable demand in Europe and North America. Geopolitical factors are reshaping the market, with Quectel licensing its technology and reference designs to Ohio-based Eagle Electronics, which will begin shipping US-made modules from Q3 2025.

Commenting on the chipset player dynamics, Research Analyst Anish Khajuria said, “Qualcomm maintained its leadership in chipsets, dominating 5G and high-end 4G segments (Cat 4, Cat 6, etc.) for applications such as automotive, PCs and router/CPE. ASR and Eigencomm followed, focusing on the cost-sensitive market with 4G Cat 1 bis solutions for metering, asset tracking, industrial cameras, and smart speakers.”

There is growing demand for smart and AI-enabled IoT modules across automotive, infotainment, retail and surveillance. Vendors such as Quectel, Meig and Fibocom are increasingly prioritizing high-value, feature-rich modules over basic connectivity, viewing this as a key driver for future revenue growth.

For detailed research, refer to the following reports available for subscribers:

• Global Cellular IoT Module and Chipset Tracker by Application, Q2 2025
• Global Cellular IoT Module Tracker, Q2 2025

Counterpoint’s ‘Global Cellular IoT Module and Chipset Tracker by Application’ tracks over 2,000 IoT module SKUs on a quarterly basis and provides forecasts on shipments, revenues and ASP performances for over 80 IoT module vendors, over 12 chipset players and over 18 IoT applications across 10 major geographies.

About Counterpoint Research

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