On June 23, affected by weak market demand in China, global cellular IoT module shipments increased by 4% year-over-year in the first quarter of 2026. According to Counterpoint Research's Global Cellular IoT Module and Chip Tracker report, China's shipment volume remained the largest globally in this quarter, but it decreased by 2% year-over-year. The decline was primarily due to seasonal factors related to the Spring Festival holiday, during which domestic OEM manufacturers saw a decrease in demand in areas such as asset tracking, POS terminals, and connected vehicles. Additionally, a decline in domestic passenger vehicle sales further impacted market performance. Chief Analyst Tina Lu pointed out that growth performance varied significantly across different technology categories. Shipments in most technology categories declined, but 4G Cat 1 bis module shipments increased by 12% year-over-year, primarily driven by demand in developing markets such as India, the Middle East and Africa, and Latin America for applications in smart meters, POS terminals, asset tracking, and connected vehicles. Furthermore, 5G technology emerged as the fastest-growing cellular technology with a 39% year-over-year increase, primarily benefiting from growth in demand for routers/CPEs, connected PCs, and automotive applications.