Global cellular IoT module shipments increased 10% YoY in Q3 2025, according to Counterpoint Research’s Global Cellular IoT Module and Chipset Tracker, Q3 2025. The market remained on a growth trajectory, driven by sustained momentum in smart metering, asset tracking, routers/CPE, and automotive. The ongoing shift from legacy RF/PLC systems to cellular is accelerating, laying the foundation for the next phase of capability-driven IoT deployments. At the same time, Q3 2025 underscored a tighter profitability environment. Cash-flow strength is emerging as a key differentiator. As ASPs decline, only vendors with solid liquidity can keep investing in RedCap, AI-capable products, and customer support without compromising margins.

Commenting on the regional dynamics, Senior Analyst Tina Lu said, “During the quarter, growth was concentrated in emerging and price-sensitive markets. India grew 40% YoY, sustaining its multi-quarter momentum driven by smart metering, POS, and telematics. MEA had the second-best performance, from a small basis, supported by national utility modernization programs and Router/CPE applications. Parts of LATAM expanded on the back of telematics and smart meter demand.”

Lu added, “Mature markets showed modest but stable performance. China grew 7% YoY, supported by smart meters, POS and Cat-1 bis–based deployments. Europe grew 11% YoY, driven by automotive, Router/CPEs and second-wave AMI rollouts. Meanwhile, North America rose just 4% YoY, reflecting cautious enterprise spending.”

Global Cellular IoT Module Shipments Share by Vendor, Q3 2025 vs Q3 2024

Source: Counterpoint Research Global Cellular IoT Module and Chipset Tracker by Application, Q3 2025

Vendor Performance

• Quectel maintained its global leadership position with a strong share in China and overseas markets. China Mobile held second place, benefiting from operator-driven domestic demand. Sunsea (SIMCom + Longsung) ranked third, supported by POS and metering shipments.
• Lierda delivered 73% YoY growth, powered by Cat-1 bis and expanding penetration in South Korea and Southeast Asia.
• Outside China, Telit Cinterion remained the top international vendor, supported by telematics, healthcare and energy deployments in Europe and North America.
• On the silicon side, Qualcomm remained dominant in 5G and high-end LTE, while ASR, UNISOC and Eigencomm strengthened their grip on the Cat-1 bis market.

Commenting on the technology dynamics, Research Director Mohit Agrawal said, “Cat-1 bis has become the global standard for high-volume IoT, accounting for almost half of all shipments in Q3 2025. RedCap is entering its commercial phase, but meaningful volume will follow only when pricing approaches Cat-4/Cat-6 levels and 5G SA coverage becomes widespread. When these conditions intersect, RedCap will begin a broad replacement cycle for legacy 4G.”

Agrawal added, “Demand for AI-capable IoT modules is rising across surveillance, automotive, industrial, and retail segments. This trend is now clearly visible in the product portfolios of Quectel, Fibocom, and MeiG, who are prioritizing feature-rich modules with integrated AI accelerators, edge-processing capabilities, and secure OS frameworks. The value in IoT is shifting from “connectivity hardware” toward “edge intelligence and lifecycle services.”

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

• Global Cellular IoT Module and Chipset Tracker by Application, Q3 2025
• Global Cellular IoT Module Tracker, Q3 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

Counterpoint Research is a global market research firm specializing in products across the technology ecosystem. We advise a diverse range of clients – from smartphone OEMs to chipmakers and channel players to Big Tech – through our offices located in the world’s major innovation hubs, manufacturing clusters and commercial centers. Our analyst team, led by seasoned experts, engages with stakeholders across the enterprise – from the C-suite to professionals in strategy, analyst relations (AR), market intelligence (MI), business intelligence (BI), product and marketing – to deliver services spanning market data, industry thought leadership and consulting. Our core areas of coverage include AI, Automotive, Consumer Electronics, Displays, eSIM, IoT, Location Platforms, Macroeconomics, Manufacturing, Networks and Infrastructure, Semiconductors, Smartphones and Wearables. Visit our Insights page to explore our publicly available market data, insights and thought leadership, and to understand our focus, meet our analysts and start a conversation.

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