2G IoT Modules Market was valued at USD 1.25 Billion in 2022 and is projected to reach USD 1.85 Billion by 2030, growing at a CAGR of 6.5% from 2024 to 2030.
The global 2G IoT modules market was valued at approximately USD 1.2 billion in 2022, reflecting a steady growth trajectory driven by the demand for affordable and reliable connectivity solutions in various IoT applications. The market is anticipated to expand at a compound annual growth rate (CAGR) of around 7.4% from 2023 to 2028. This growth is underpinned by the widespread deployment of 2G technology in sectors such as agriculture, automotive, and smart cities, where the cost-efficiency of 2G modules is particularly advantageous for low-bandwidth, long-range communications.
Emerging markets, particularly in regions like Southeast Asia, Latin America, and parts of Africa, present significant opportunities for the expansion of 2G IoT modules. These areas are experiencing rapid urbanization and technological development, driving demand for IoT solutions that offer basic connectivity at a lower cost. Additionally, the ongoing transition from 2G to more advanced technologies in developed markets is creating a secondary market for 2G modules, particularly in cost-sensitive applications. As the technology continues to mature and adapt to evolving market needs, these emerging opportunities are expected to further propel market growth in the coming years.
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Sierra Wireless
Telit
Thales
U-blox
Sequans Communications SA
Cavli Wireless
Sony
Quectel Wireless Solutions
SIMCom Wireless Solutions
Fibocom Wirelessinc
LongSung Technology
Neoway Technology
MeiG Smart Technology
GosuncnWelink Technology
Huawei
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global 2G IoT Modules Market
Wearable Device
Automotive
PDA
Asset Tracking
POS
Telematics
Others
Based on Types the Market is categorized into Below types that held the largest 2G IoT Modules market share In 2023.
LGA Package
LCC Package
LGA+LCC Package
Others
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global 2G IoT Modules Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global 2G IoT Modules Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global 2G IoT Modules Market, By Type
6. Global 2G IoT Modules Market, By Application
7. Global 2G IoT Modules Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global 2G IoT Modules Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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