Cellular Modem Market Set to Reach $19.60 Billion by 2032

The Cellular Modem Market was valued at $4.93 billion in 2023 and is projected to reach $19.60 billion by 2032, with a CAGR of 16.61% from 2025-2032. Factors driving growth include 5G expansion, IoT adoption, and increasing connectivity demand.

Key players in the market include Qualcomm, MediaTek, Intel, Samsung, Huawei, Apple, and more, offering a variety of cellular modem products. The market report covers market size, segments analysis, competitive landscape, regional analysis, and more.

The Embedded Cellular Modem segment leads with 62.8% market share, driven by demand for compact, cost-effective connectivity solutions. The Box Portable Cellular Modem segment is expected to see the highest growth due to increased need for mobile connectivity.

4G LTE dominates the high-speed cellular modem market with 53.5% share, while 5G is projected to have the fastest CAGR due to demand for ultra-low latency. Automotive & Transportation lead in verticals, with increasing demand for connected vehicle technologies.

In 2023, Asia-Pacific accounted for 33.8% of the global cellular modem market, with North America expected to have the highest CAGR from 2024-2032. Europe, MEA, and Latin America are also projected to see gradual growth in the market.

Recent developments include Qualcomm’s X85 5G Modem-RF and MediaTek’s M90 5G-Advanced modem, both offering AI-powered enhancements and peak download speeds. The market report includes sections on market dynamics, competitive landscape, segmentation, regional analysis, company profiles, and more.

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