It is predicted that from 2022 to 2025, the IoT module market's scale will approach CNY 100 billion, with an average compound annual growth rate reaching 21.3%.
With the vigorous development of Internet of Things (IoT) technology, IoT modules, as key components connecting the sensing layer with the transmission layer, play an indispensable role. In the architecture of the IoT industry, communication modules undertake the data transmission tasks between intelligent terminals and the network layer, determining whether devices can cope with complex application environments and ensuring the stability and reliability of communication quality. They can be regarded as vital connectors between the IoT sensing layer and the network layer.
According to Counterpoint Research's forecast on global cellular IoT module shipments, by 2030, global cellular IoT module shipments will surpass 1.2 billion units, with a high compound annual growth rate of 12%. This growth is primarily driven by the advancements in 5G, NB-IoT, and 4G Cat 1 bis technologies. Among these, 5G is anticipated to be the fastest-growing technology between 2022 and 2030, followed by 4G Cat 1 bis.
Currently, leading Chinese IoT module manufacturers already hold more than 70% of the entire Chinese market. It is predicted that from 2022 to 2025, the IoT module market's scale will approach CNY 100 billion, with an average compound annual growth rate reaching 21.3%. This robust momentum will further drive the development of the Chinese IoT module industry and will undoubtedly hold significant positions in the global IoT market.
In this article, EqualOcean will introduce 12 leading Chinese IoT module companies, delving into their positions and contributions in this thriving industry. Through this assessment, we will present readers with the current status and future development trends of the Chinese IoT module industry while exploring how these enterprises achieve advantages in technological innovation, market competition, and global cooperation.
1. Quectel (Chinese: 移远通信)
Since its establishment in 2010, Quectel has maintained rapid growth and evolved into a leading provider of IoT solutions. Their mission is to connect devices and people with networks and services, driving digital innovation and helping build a smarter world. Their products facilitate more convenient, efficient, comfortable, affluent, and secure lives.
Quectel offers a range of cutting-edge communication technology modules, including IoT modules, low-power wide-area IoT modules, cellular IoT modules (2G/3G/4G/5G), and global positioning system modules.
According to the latest report by Counterpoint Research, in Q1 2023, global cellular IoT module shipments remained flat compared to the previous year, but they grew more than twice compared to the same period in 2020. Quectel holds a leading market share of 37.2%. The company has solidified its leadership in both the Chinese and international markets and maintains a leading position in the Americas, India, the Middle East, and Africa. Its strong performance is a result of its wide product portfolio and robust on-site application engineering (FAE) support.
2. Fibocom (Chinese: 广和通)
Established in 1999, Fibocom is China's first publicly listed wireless communication module company (stock code: 300638). As a global leader in wireless communication modules and solutions, Fibocom provides a one-stop service, including integrated wireless communication modules, IoT application solutions, and cloud platforms. They are committed to popularizing reliable, convenient, secure, and intelligent wireless communication solutions in every IoT scenario, bringing users a perfect wireless experience and enriched smart lives. Fibocom's product range covers cellular modules (5G/4G/3G/2G/LPWA), automotive-grade modules, AI modules, Android intelligent modules, GNSS modules, and antenna products, empowering digital transformation in industries such as cloud office, mobile broadband, intelligent transportation, smart retail, intelligent robotics, smart security, smart energy, intelligent industry, smart home, telemedicine, smart agriculture, and smart cities.
3. Sunsea Group (Chinese: 日海智能)
Sunsea Group focuses on Artificial Intelligence of Things (AIoT), forming a business system of 5G & AI IoT terminals, AI IoT big middle platform, AI edge computing devices, intelligent communication devices, related comprehensive solutions, and engineering services. With core technical strengths in AIoT industry applications, 5G & AIoT devices, and AIoT big middle platform, the company can provide customers with 5G cloud module application ecosystems, smart IoT solution application ecosystems, and intelligent IoT device application ecosystems, creating a complete AIoT industrial chain. The company's strategic goal is to build "Intelligent Connections for Everything" (Sunsea AIoT) and become a leading AIoT service provider in the industry.
Sunsea Group has established R&D centers in major cities such as Shenzhen, Shanghai, and Xi'an. It has sales branches in provincial capitals in China and countries such as the United States, Russia, France, and India, providing intelligent, secure, and reliable IoT products and solutions to telecommunications operators and clients in the consumer electronics, automotive, finance, medical and health, agriculture/environment, energy, transportation, and industrial manufacturing industries, promoting the sustained and healthy development of the industry.
4. China Mobile IoT (Chinese: 中移物联网)
China Mobile IoT Co., Ltd. is a wholly-owned subsidiary of China Mobile Communications Group Co., Ltd., responsible for IoT-related businesses. The company positions itself as a forger of IoT core capabilities, a leader in the IoT professional market, a supporter of the entire network's IoT business, and an exemplary technological enterprise reformer. It focuses on building IoT core technologies and products, including IoT general basic capabilities, video IoT (VIoT), intelligent IoT (AIoT), and industrial IoT (IIoT), to support the development of IoT businesses across the entire network. According to Counterpoint's Q1 2023 global cellular IoT module and chip tracking research report, China Mobile ranks fourth in global cellular IoT module shipments, with a market share of 5.9%.
5. MeiG Smart (Chinese: 美格智能)
Established in 2007 and headquartered in Shenzhen, Guangdong province, MeiG Smart Technology Co., Ltd. (Stock code: 002881) is a leading global provider of wireless communication modules and solutions. MeiG Smart is committed to becoming an R&D-driven enterprise, with its R&D bases mainly established in Shenzhen, Shanghai, and Xi'an, employing over a thousand IoT research personnel.
Based on the next-generation 4G/5G wireless communication technology and relying on the IoT industry of ubiquitous connectivity, MeiG Smart focuses on providing global customers with its core brand MeiGLink, offering standard M2M/intelligent Android wireless communication modules, IoT solutions, technical development services, and cloud platform system solutions. The company's IoT industry clients are spread across more than 100 countries and regions globally, and their products and services are leading in many IoT core application areas.
The company's wireless communication module and solution business have ample orders, and product deliveries in the intelligent cabin domain of new energy vehicles have significantly increased. In the first three quarters of 2022, the company achieved operating income of 1.8 billion yuan, a year-on-year growth of 36.27%, and a net profit attributable to the parent of 122 million yuan, a year-on-year growth of 53.95%.
6. Gosuncn (Chinese: 高新兴)
Gosuncn Technology Group Co., Ltd. is a subsidiary of Gosuncn Group (stock code: 300098), focusing on IoT communication products and solutions, providing customers with secure and reliable IoT communication products and services. The company's headquarters is in Shenzhen, with research and development centers in both Shenzhen and Xi'an, serving global customers with products and services.
Gosuncn Technology's products cover various formats and packaging of industrial-grade cellular communication modules, automotive-grade cellular communication modules, front-end/rear-end connected car communication terminal products, and intelligent broadband products. By continuously providing innovative application solutions through self-developed IoT communication products and solutions, the company assists domestic and international OEM terminal merchants, solution providers, system integrators, IoT service providers, and telecommunications operators in reducing costs, achieving rapid market entry for products, and gaining recognition from domestic and foreign customers in various industries through sustained innovation and excellent quality.
7. Foxconn (Chinese: 富士康)
Foxconn Technology Group is a high-tech enterprise specialized in the research, development, and manufacturing of computer, communication, and consumer electronics products. It has diverse interests in digital content, automotive components, channels, cloud computing services, as well as the development and application of new energy and materials. Founded in Taiwan in 1974 and expanding to mainland China in 1988, Foxconn has experienced rapid growth, now boasting over a million employees and serving top-tier global clients. It is currently the world's largest electronics industry technology manufacturing services provider, maintaining a leading position in areas like supply chain systems, critical component manufacturing, institutional design and development, and system integration services. With its strong relationships with top equipment manufacturers, potential growth in the electric vehicle industry, and focus on 5G technology, Foxconn is expected to achieve medium to long-term growth in the field of the Internet of Things.
8. Neoway (Chinese: 有方科技)
Neoway Technology Co., Ltd., located in Shenzhen, focuses on the "connectivity" aspect of the Internet of Things. The company is dedicated to providing IoT access communication products and services to IoT service providers and manufacturers of smart interconnected products. Their product range covers access cloud, pipeline cloud, and cellular wireless communication modules and complete machines for 2G/3G/4G/5G/NB-IoT/eMTC technologies, widely applied in industries such as smart energy, connected cars, industrial IoT, commercial retail, and smart cities. Neoway Technology stands out with its globally pioneering access communication solution based on a cloud-management-end architecture, offering stable, reliable, and secure access communication for the IoT, making human society more environmentally friendly, efficient, and convenient.
9. Espressif (Chinese: 乐鑫科技)
Espressif is a global fabless semiconductor company, established in 2008, with offices in China, the Czech Republic, India, Singapore, and Brazil. The team comprises members from around 30 countries and regions. In July 2019, Espressif Systems was listed on the Sci-Tech Innovation Board of the Shanghai Stock Exchange. For many years, Espressif has been deeply involved in AIoT field software and hardware product development and design, focusing on the research and development of highly integrated, low-power, high-performance, secure, stable, and cost-effective wireless communication SoCs. They have released ESP8266, ESP32, ESP32-S, ESP32-C, and ESP32-H series chips, modules, and development boards, making them an ideal choice for IoT applications. The company is committed to providing secure, stable, and energy-efficient AIoT solutions. Additionally, they adhere to technological openness, empowering developers to create intelligent products with Espressif's solutions and contribute to building an interconnected intelligent world.
10. Ayla (Chinese: 艾拉物联)
Founded in Silicon Valley, USA, in 2010, Ayla has been rooted in China since 2014. It has united top manufacturers of chips, modules, ODM/OEM, AI voice control, retailers, and operators, aiming to create a global AIoT new ecology of interconnected everything. With 11 years of brand heritage and 128 patented technologies, Ayla is the first company in China to receive the SOC3 certification and has proprietary core technologies in cloud, chips, modules, and complete machines. It is a professional smart home brand manufacturer, ranking among the top three in the global IoT cloud platform and top three in the top ten smart home brands, covering the entire industrial chain of cloud, management, edge, and end.
11. Cheerzing (Chinese: 骐俊物联)
Cheerzing is a professional IoT technology solution provider focused on the research, development, and application of wireless communication technology (2G/3G/4G/5G/NB-IoT/LoRa, etc.) and IoT positioning technology (GPS/BDS/LBS, etc.). The company possesses multiple independent intellectual property rights and core technologies and independently designs and develops wireless communication and positioning module series and related software technologies to meet customer demands. These technologies have been widely applied in various IoT fields such as smart homes, connected cars, smart meters, mobile payments, public network intercom, smart municipal projects, and more, offering diverse and reliable products and services that cater to different market needs.
12. MobileTek (Chinese: 移柯通信)
Shanghai MobileTek Communication Technology Co., Ltd. is a seasoned provider of GSM/GPRS, WCDMA/LTE, NB-IoT, GPS/GNSS wireless module products, and services. With rich experience and comprehensive R&D capabilities, MobileTek independently develops LYNQ-branded module products. Their three IoT module series are widely used in various fields, including automotive, security, energy, mobile payments, sharing economy, smart cities, smart meters, smart agriculture, smart healthcare, asset management, industrial control, and more. The products exhibit stable quality, excellent performance, ultra-small size, and ultra-low power consumption, making them easily integrated and meeting the diverse needs of enterprise customers.