MediaTek Summit 2023: AI & ASICs Driving Momentum Going Into 2024

  • MediaTek held its annual executive summit in Laguna Niguel, California, recently.
  • Key announcements emphasized on the company’s premium AI-driven and custom SoC (ASICs) strategy.
  • The new connectivity solutions from Wi-Fi 7 chips to 5G and 5G RedCap thin modems underlined its IoT strategy and momentum.
  • Other highlights included key partnerships and design wins – Meta for AR headset, NVIDIA for automotive and ARM for smartphones.

Counterpoint analysts attended MediaTek’s annual executive summit in Laguna Niguel, California, recently, spending time with key company executives CEO Rick Tsai, CFO David Ku, Corp VP Vince Hu, CTO Kevin Jou, SVP JC Hsu, GM & VP Marketing Finbarr Moynihan and partners and customers. The keynotes delivered centered around MediaTek’s incredible progress over the last five years and what is in store for the next five years.

MediaTek Executive Summit 2023 - Counterpoint Research

WATCH: MediaTek Executive Summit 2023: AI Across Segments To Drive Business Growth

Last five years:

  • MediaTek has raised its profile and performance over the last five years.
  • The company’s revenues are up 2x, gross margins have increased by around 48%, and marquee partnerships and product announcements have gone up.
  • MediaTek’s performance in “handsets”, its largest revenue segment, has been healthy since the pandemic and onset of the 5G era, leading the market in terms of unit volume share (see here: Smartphone AP/SoC Market Share by Quarter).
  • More than 2 billion MediaTek chipset-powered devices are being shipped every year.
  • MediaTek has spent nearly $18 billion in R&D over the last five years, helping it advance in areas of on-device AI and connectivity, and diversify into newer areas such as auto, wearables, 5G FWA and Chromebooks.

MediaTek Executive Summit 2023 - Counterpoint Research

Next Five Years:

  • MediaTek has laid out its key focus areas for the next five years, and obviously, they revolve around “Ubiquitous data processing (AI) and ubiquitous transmission (“fast connectivity 5G, Wi-Fi 7, NTN”)
  • MediaTek is focusing on “Ubiquitous AI” to power advanced silicon compute needs across smartphones, automotive, XR, enterprise, cloud and industrial applications.
  • The company has also been heavily focusing on the custom silicon (ASIC) market.

MediaTek Executive Summit 2023 - Counterpoint Research

  • MediaTek’s ASIC business is one of its less talked about success stories of working with multiple clients across multiple applications. For example, Sony for PlayStation VR2, Sony Premium Headset WH-1000XM5, Logitech, Juniper Networks Networking chip, Kontron SOM, BARCO and Advantech gateways.
  • The company shipped its One Billionth Consumer ASIC this year with a more than 80% increase in design wins in 2023.
  • MediaTek expects 200% revenue growth in the next two years for Edge AI custom ASIC chips.
  • One of the key announcements at the summit was MediaTek’s partnership with Meta to build custom ASIC for Meta’s future AR glasses.
  • This rides upon the successful design win in Sony’s PSVR2 (see here: XR Headset Market Share by Quarter )

MediaTek Executive Summit 2023 - Counterpoint Research

  • The new flagship Dimensity 9300, where MediaTek has taken a significant leap (see here: MediaTek Strengthens Premium Push With Gen AI Capabilities ), was among the most discussed topics.
  • The company’s tight partnership with ARM and adoption of the ARM Total Compute Solution 23 (see here: Arm Platform TCS23 Sets Benchmark to Power Advanced, Holistic Mobile Computing Experiences) has helped it bring to the surface significant performance from its flagship SoC, taking on Qualcomm’s Snapdragon 8 Gen 3.
  • The company believes its third-generation flagship SoC, the Dimensity 9300, will garner over $1 billion in revenues.
  • vivo’s new flagship smartphone X100 is the first device to sport the Dimensity 9300. Launched in the China market, its initial reviews are super-encouraging.
  • There was a discussion about how the company would get paid for AI and for improving AI models. For now, it is higher ASPs from its hardware. But it is early in the AI journey and things could change. The entire tech industry is exploring how it will monetize the generative AI wave.
  • The key takeaway was MediaTek’s AI strategy with its seventh-generation APU which can handle up to 33 billion parameters LLM, much more than the competition.
  • The company is also working on AI software tools, stack and ecosystem partners to allow OEMs and partners to leverage the compute capability via its NeuroPilot Stack.

MediaTek Executive Summit 2023 - Counterpoint Research

  • The foundry diversification strategy continues. Taiwan-based MediaTek has a strong relationship with Taiwan-based TSMC. It will continue to focus on leading-node production within TSMC. However, it is open to further diversification and US contracts are on the table.
  • The company is excited about its solutions for the automotive segment. MediaTek has partnered with NVIDIA for automotive with each company playing to its strengths. For MediaTek, this means providing cellular connectivity including 5G, Wi-Fi and infotainment solutions. The company emphasized this is a high-ASP, 3nm solution to support the latest in connectivity and high-end gaming (think ray tracing). The company is focused on the China EV market, which is already the largest market in the world and also the most competitive. MediaTek has ambitions to eventually have an ADAS solution.
  • The Chromebook market has been a blue-ocean opportunity for MediaTek to enter the PC market. The company believes it is going to be a natural progression to the Arm-based AI PC market in the coming years.
  • In IoT, the company unveiled its M60 5G RedCap modem (see here: Big Role for 5G RedCap in 5G Evolution, Massive IoT Adoption) targeting smartwatches, bands and lightweight AR devices.
  • Also announced were two Filogic Wi-Fi 7 (see here: White Paper: Growing 5G+Wi-Fi RF Complexity Demands Innovative, Advanced & Tightly Integrated RFFE Solutions) chipsets targeting global broadband service providers’ Ethernet gateways. These solutions will also service IoT router applications.

Wrapping up:

  • MediaTek has spelled out a clear vision and roadmap focusing on AI and ASICs to propel growth across different applications.
  • The ASIC strategy is working well to power compute in the IoT domain, whereas branded silicon is doing well in the handsets domain.
  • MediaTek will have its work cut out though on building ecosystem and developer traction when it comes to AI success across silicon.

MediaTek Strengthens Premium Push With Gen AI Capabilities

  • The Dimensity 9300 is integrated with the 7th-gen APU 790 processor, which supports a broad generative AI ecosystem and models including Meta Llama 2, Baidu ERNIE 3.5 SE and Baichuan 2.
  • It can run with 13 billion parameters, which are scalable up to 33 billion, on-device at a processing speed of up to 20 tokens per second.
  • The Dimensity 9300 will debut with the vivo X100 smartphone in mid-November

MediaTek recently launched its third-generation premium chipset Dimensity 9300. The company has emerged as a strong competitor in the premium smartphone chipset market after launching the Dimensity 9000 in Q1 2022. Currently, MediaTek leads the low-mid segment and drives significant volumes both for 4G and 5G in this tier.
Adopting a non-traditional CPU core design, the Dimensity 9300 focuses on raw performance. It has four large cores (Cortex-X4) and four performance cores (Cortex-A720 cores), thus enabling it to excel in raw computing power and advanced AI capabilities.

Mediatek Dimensity 9300 Features

Dimensity 9300 key specifications

Like the last two generations, the Dimensity 9300 SoC is built on a TSMC 4nm process node. It is more efficient and performs better than the Dimensity 9200. There is a 40% improvement in the multi-core performance and a 15% improvement in the single-core performance. The Dimensity 9300 combines an octa-core CPU with the company’s second-generation hardware raytracing engine, enabling smartphones to achieve console-level global illumination effects at a smooth 60 FPS. Besides, the chipset supports seamless multitasking, allowing users to simultaneously play games and stream videos or watch a video while gaming.

  • Four ARM Cortex-X4 CPU. Prime core clocked at up to 3.25GHz
  • Four ARM Cortex-A720 CPU clocked at up to 2.0GHz

Mediatek Dimensity 9300 CPU Architecture

7th-gen APU 790 processor

The chip is equipped with MediaTek’s next-generation APU 790 processor, which reduces power consumption by 45% while improving performance. Its processing speed is eight times that of the APU 690. It also offers significant improvements in generative AI performance and energy efficiency for edge computing. The APU 790 is specifically designed for generative AI tasks, marking a substantial upgrade over its predecessor. It accelerates processing through the Transformer model and supports image generation within one second using Stable Diffusion. The APU 790 also supports large language models with up to 33 billion parameters. MediaTek has also implemented mixed-precision INT4 quantization technology and NeuroPilot memory hardware compression to optimize memory usage for large AI models.

Mediatek Dimensity 9300 APU

The Dimensity 9300 has a strong AI generative ecosystem, which supports language models like Llama 2, Baichuan 2 and Baidu AI LLM. It helps developers to efficiently deploy multi-modal generative AI applications for users.

Immortalis-G720 GPU

With the integration of ARM’s latest GPU, the Immortalis-G720, the Dimensity 9300 offers almost a 46% boost in GPU performance and 40% power reduction compared to the Dimensity 9200.

Mediatek Dimensity 9300 GPU

The Dimensity 9300 chipset supports the new Ultra HDR format in Android 14, improving mobile photography with vibrant images and compatible JPEG files. It also offers ambient light adaptive HDR recovery technology for enhanced photography. It supports 100% pixel-level autofocus, dual lossless zoom and 3-microphone HDR audio recording.

The chipset’s display system is equipped with the MiraVision Picture Quality (PQ) engine which dynamically adjusts the contrast, sharpness and color of primary objects, resulting in lifelike video experiences similar to high-end TVs. It uses on-device AI to detect primary objects and background images in real time.

Enhanced connectivity

The Dimensity 9300 offers Wi-Fi 7 speeds up to 6.5 Gbps and improved long-range connectivity with Xtra Range 2.0 Technology. It also enhances smartphone tethering speeds by up to three times using Multi-Link Hotspot technology. The Dimensity 9300 also supports up to three Bluetooth antennas and features dual Bluetooth flash connection technology for an ultra-low latency Bluetooth audio experience.

DRAM support and security

The Dimensity 9300 is the first SoC that supports the LPDDR5T up to 9600 Mbps. Also, it integrates two SUPs, one for boot security and one for computing security.

Dimensity 9300 vs Snapdragon 8 Gen 3

In terms of specifications, the Dimensity 9300 uses all big core architecture 4 prime cores (Cortex-X4) and 4 big cores (Cortex-A720), whereas the Snapdragon 8 Gen 3 uses one prime (Cortex-X4), five big (Cortex-A720) and two small cores (Cortex-A520). MediaTek with its all-big core design is addressing generative AI and gaming applications. On paper, the Dimensity 9300’s AI performance is competitive. The Dimensity 9300 supports large language models that can run with 13 billion parameters, whereas the Snapdragon 8 Gen 3 can run with 10 billion parameters on-device.

The fact that MediaTek now offers performance and efficiency gains that are comparable to Qualcomm’s latest-generation flagship offerings, shows MediaTek wants to directly compete with Qualcomm in the premium segment. Overall, this is going to be a win-win for the industry, as it will raise the bar and, in turn, benefit the end users.

A table showing the differences between Mediatek Dimensity 9300 and Qualcomm Snapdragon 8 Gen 3

Expected timeline

The vivo X100 will be the first smartphone to carry the Dimensity 9300 chipset. It will be available in the market by the end of 2023. We expect that the Dimensity 9300 will have better adoption among Chinese OEMs compared to the Dimensity 9200. China will be the first target market for smartphones with the Dimensity 9300, followed by India, SEA and Europe.

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MediaTek’s Q3 2023 Revenue Up 9% QoQ as Inventory Levels Normalize

  • MediaTek witnessed robust sequential growth in Q3 due to customers restocking inventory. 
  • Inventory declined to a healthy level of 90 days during the quarter.  
  • 3nm SoC shipments set to start in H2 2024 
  • Auto pipeline remains the same over $1 billion

MediaTek’s revenue increased 9% QoQ in Q3 2023, highlighting a good quarter, despite a YoY decline. This sequential growth was largely driven by inventory restocking by smartphone OEMs and new 4G and 5G model launches. The demand for wireless and wired connectivity grew sequentially with shipments reaching a quarterly record. Also, the inventory situation has gradually improved, coming down to a steady level of 90 days compared to 115 days in the previous quarter. The company is aiming to launch the 3nm chipset in H2 2023. 

Long-term growth potential in computing, edge AI and Auto segment 

CEO Rick Tsai: “For the future, the increasing computing capabilities, the proliferation of edge AI, and the higher adoption of semiconductor content for automotive will provide strong growth opportunities for MediaTek. For AI, we believe the increasing demand for cloud AI will create a complementary demand for edge AI, and, the more edge AI, the better cloud AI.”

Shivani Parashar’s analyst take: “MediaTek foresees strong growth potential in computing, edge AI, and automotive semiconductors. The company will focus on capabilities to integrate edge AI into SoCs for a wide range of applications, mostly for smartphones and the auto segment. MediaTek has already collaborated with NVIDIA in the automotive sector. The company is well positioned and plans to continue investing in successful segments. The expansion into new markets like AI and ARM computing, by leveraging its technological powers and partnerships with leading foundries, will help the company generate significant revenues in these segments.” 

Customer and channel inventory returned to a normal level 

CEO: “In the last few months, we’ve observed improvements in overall channel inventories, particularly with respect to smartphones. With prudent inventory management, we have reduced our inventory for five consecutive quarters. At the end of Q3 2023, our days of inventory has reached to a healthy level of 90 days. We expect the overall inventory environment to continue to improve in the coming quarters.” 

Parv Sharma’s analyst take: “According to our supply chain checks, Channel level inventory is reducing and by H1 2024, the inventory will be at a normal level. The smartphone OEMs have started restocking the inventory, but still, they remain cautious due to weak consumer demand.” 

5G penetration to increase in 2024 

CFO David Ku: “We still got a few more months to get into 2024, but in general, I think the mix in terms of 4G versus 5G, our view is actually 5G will continue — for our own shipment perspective — 5G probably will increase and 4G will decline in terms of shipment compared to this year, 2024 versus 2023. Because 5G again next year, our view is the overall market will still witness double-digit percentage growth, 4G probably will be flattish to slightly down from the market demand perspective.” 

Shivani Parashar’s analyst take: “We forecast that 5G penetration will increase in double-digit percentage in 2024. In anticipation of a shift from LTE to entry-level 5G smartphones, OEMs are expanding their 5G portfolio across price bands. Intense competition among OEMs, availability of cheaper 5G chipsets and declining prices of 5G devices will contribute to the growth of 5G chipsets. The 4G chipset will decline by low-single-digit percentage in 2024 compared with that in 2023.” 

Result summary 

Global Smartphone AP-SoC Market Share: Quarterly

Global Smartphone AP (Application Processor) Shipments Market Share: Q1 2022 to Q2 2023

Published Date: September 7, 2023

A repository of quarterly data for the global smartphone AP market based on smartphone AP/SoC shipment numbers.

Global Smartphone Application Processor (AP) Market Share: Q2 2023This data is based on the smartphone AP/SoC shipments

Note: Totals may not add up due to rounding

Global Smartphone Chipset Market Share (Q1 2022 – Q2 2023)
Brands Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023
Mediatek 36% 36% 35% 33% 33% 30%
Qualcomm 34% 32% 32% 19% 27% 29%
Apple 14% 13% 16% 28% 26% 19%
UNISOC 11% 11% 9% 11% 8% 15%
Samsung 5% 8% 8% 8% 4% 7%
1% 0% 0% 0% 0% 0%
Others 0% 0% 1% 1% 1% 1%

Source: Global Smartphone AP-SoC Shipments & Forecast Tracker by Model – Q2 2023


(Use the buttons below to download the complete chart)


Apple’s sales declined in Q2 2023 due to seasonality. Its Pro series did better.

MediaTek’s shipments increased slightly in Q2 2023 with reduced inventory levels and growing competition in the entry-level 5G smartphone market. New smartphone launches in the low-to-mid-end segments increased the shipments of Dimensity 6000 and Dimensity 7000 series. The Dimensity 9200 Plus was added to the premium tier.

Qualcomm’s shipments increased in Q2 2023 due to the Snapdragon 8 Gen 2’s adoption in Samsung’s flagship smartphones and by Chinese OEMs. The launch of Samsung’s Flip and Fold series also contributed to this growth. Qualcomm refreshed the Snapdragon 7 Gen 1, Snapdragon 6 Gen 1 and Snapdragon 4 Gen 1 series to gain some share back. However, the premium segment’s growth remained in focus.

Samsung’s shipments increased in Q2 2023. The Exynos 1330 and 1380’s launch added volumes to the low and mid-high segments.

UNISOC’s shipments grew in Q2 2023 after a weak Q1. It gained some share in the $100-$150 LTE segment. In H2 2023, as entry-level 5G smartphones pick up in regions like LATAM, SEA, MEA and Europe, UNISOC will gain some share.

For a more detailed smartphone AP-SoC shipments & forecast tracker, click below:

Global Smartphone AP-SOC Shipment & Forecast Tracker by Model – Q2 2023

This report tracks the smartphone AP/SoC Shipments by Model for all the vendors. The scope of this report is from the AP/SoC shipments from all the key vendors like Apple, Qualcomm, MediaTek, Huawei, Samsung, UNISOC and JLQ. We have covered all the main models starting from Q1 2020 to Q2 2023. We have also included a one-quarter forecast for Q3E 2023. This report will help you to understand the AP/SoC Market from the shipment perspective. Furthermore, we have also covered key specs for these AP/SoC covering market view by:

  • Network (4G/5G AP/SoC)
  • Foundry Details (like TSMC, Samsung. etc.)
  • Process node (5nm, 6nm, 8nm, etc.)
  • Manufacturing Process (FinFET, N7, N5, etc.)
  • CPU Cores Architecture and CPU Cores Count
  • Modem (External/Internal)
  • Modem Name
  • Secure Element Presence
  • Security Chip
  • AI Accelerator

For detailed insights on the data, please reach out to us at sales(at) If you are a member of the press, please contact us at press(at) for any media enquiries.

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MediaTek to Focus on Automotive, Edge AI for Growth

  • The company saw a slight growth in Q2 revenues due to the improving demand for 5G SoCs.
  • Inventory came down to a relatively normal level.
  • MediaTek and NVIDIA have tied up to develop a full-scale product roadmap for the automotive industry.
  • Significant revenues are expected to be seen for MediaTek’s auto and custom ASIC segments from 2026.

MediaTek’s revenues were slightly up sequentially but down 43% annually in Q2 2023. Inventory has gradually come down to a relatively normal level, but the demand for smartphones will remain slow due to the global macroeconomic situation and the refurbished smartphone market. Against this backdrop, MediaTek is diversifying its portfolio by focusing on the auto, smart edge and custom ASIC segments. The company is estimated to take over two years to get material revenues from these segments.

AI and ASIC Opportunity

CEO: “As for ASIC, we recently see growing enterprise ASIC business opportunities in AI and datacenter markets. With our strong IP and SoC integration capabilities, we aim to continue to grow this business in the future.”

Parv Sharma’s analyst take: “With the growth in generative AI, the demand for edge AI processing has accelerated. Being one of the top players in edge devices, MediaTek is well-positioned to benefit from this shift. The company will focus on winning enterprise ASIC projects but catching up with major players like Broadcom and Marvell will take time, as customers typically work with existing suppliers for repeat projects.”

Growing focus on auto and partnership with NVIDIA

CEO: “We’re very excited about the recently announced partnership between MediaTek and NVIDIA to develop a full-scale product roadmap for the automotive industry. We believe our industry-leading low-power processors and 5G, WiFi connectivity solutions, combined with NVIDIA’s strong capability in software and AI cloud, will help us become highly competitive in the future connected software-defined vehicles market and shorten our time to market to accelerate our growth.”

Shivani Parashar’s analyst take: “MediaTek launched Dimensity Auto to focus on cockpit and connectivity solutions. With its partnership with NVIDIA, the company aims to develop a full-scale product roadmap for the automotive industry. Auto design cycles are long so it will take some time (2026-2027) for the company to increase revenues from this segment. Overall, we can say the auto segment will become a long-term revenue growth driver for MediaTek.”

Customer and channel inventories come down

CEO: “We observed that customer and channel inventories across major applications have gradually reduced to a relatively normal level. Recent demand from our customers has shown certain level of stabilization. However, our customers are still managing their inventory cautiously as global consumer electronics end market demand remains soft. For the near-term, we expect our business to gradually improve in the second half of the year”

Shivani Parashar’s analyst take: “According to our supply chain checks, inventory levels are coming down and will get back to normal in the second half of 2023. OEMs will start restocking but will be cautious due to weak consumer demand and global macroeconomic conditions.”Mediatek revenuesResult summary

  • Slight improvement in revenues: MediaTek recorded $3.2 billion in revenues in Q2 2023, a slight increase of 2% QoQ but a decrease of 43% YoY due to the weak global demand for end products and the second-hand smartphone market. Customer and channel inventories across major applications have come down to a relatively normal level.
  • Maintained mobile segment revenue due to 5G SoCs: The mobile phone segment contributed 46% to the company’s revenue in Q2 2023, which declined by 51% YoY and increased by 2% QoQ. The demand for 5G SoCs improved during the quarter. The new flagship Dimensity SoC will be launched in the coming month.
  • New opportunities for smart edge: The smart edge segment contributed 47% to the company’s revenue in Q2, growing 2% sequentially. The demand for connectivity remained stable in the quarter. Business opportunities are growing for the ASIC segment.
  • Price discipline: MediaTek will focus on maintaining gross margin, following price discipline at a time of uncertainty in the global semiconductor industry.
  • Favorable guidance: MediaTek guided Q3 revenues in the range of $3.3 to $3.5 billion, growing 4%-11% sequentially. Gross margins are expected to be around 47% while the operating expense ratio is expected to be around 32% in Q2 2023. The smartphone, connectivity and PMIC segments will see revenue growth. The smart TV segment will witness declining revenues in the third quarter due to excess inventory.
  • Auto segment is picking up: Automotive will contribute $200 to $300 million to MediaTek’s revenue in 2023. More significant revenue can be seen from 2026. The current auto design pipeline revenue for MediaTek is over $1 billion.

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Meet Counterpoint at MediaTek Technology Diaries – Chapter 12

We will be attending MediaTek Technology Diaries 

Our Senior Analyst  Anshika Jain will be speaking at MediaTek Technology Diaries, Chapter 12 – The Vision to Go Beyond with Incredible Technologies, on Thursday, 25th May 2023, from 6:30 PM onwards. Her session details are below:

Topic: The Vision To Go Beyond With Incredible Technologies
Moderator: Rajiv Makhni
Date: Thursday, 25th May 2023

About the event:
Over the years, MediaTek Technology Diaries has been spotlighting megatrends and leading insightful conversations around next-generation technologies that are defining our future today.

The evolution of technology has simplified our lives in various ways. IoT has allowed us to connect smart devices to automate tasks and make our lives easier, while Smart Televisions and Entertainment have revolutionized how we consume media. Automotive technology has also made significant strides in recent years, making our commutes safer and more enjoyable.

Click here for more information about the event.


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MediaTek Analyst Summit: Focus on Widening Portfolio, Growth in US and Europe

  • MediaTek expects flat mobile revenue in Q2 2023 with growth in H2 2023 driven by an improvement in the elevated mobile inventory situation.
  • The company believes it will gain SoC share in the US and Europe.
  • MediaTek unveiled the 9200+ SoC. Key is the 5% – 12% performance boost. Built on 2nd Gen TSMC 4nm plus optimized packaging, MediaTek expressed most OEMs will migrate to the 9200+ from the 9200 on future designs.
  • Growth opportunities are present in entry 5G as many regions are now commencing 5G rollouts. Some aging SoCs will see price cuts, but pricing discipline is expected.
  • MediaTek is focusing on the automotive, expects $200 million in automotive revenue in 2023 through design wins and products.
  • The company believes it will gain SoC share in the US and Europe.

MediaTek held its annual analyst day in Austin, Texas on April 27th. The general theme of the event was the company’s positive stance on the future, despite steep year-over-year declines in its quarterly results and diversification of its portfolio as well as regional revenue. In fact, the company has had zero layoffs during the recent turbulent times within the semiconductor industry. The company is rapidly transferring resources to automotive and AI computing areas.

Here are the key takeaways from the summit:


  • According to Counterpoint data, MediaTek was the biggest smartphone SoC player in terms of volume in 2022. MediaTek had 34% share in smartphone AP/SoC shipments in 2022 followed by Qualcomm with 29% share. Like other providers, there were tough decisions made related to shortages and allocation decisions. The company takes pride in the fact that it left no individual customer without allocations, though some received less than asked for in 2022.
  • There were elevated inventories of both chipsets and finished goods exiting 2022. However, there have been improvements. Counterpoint Research data shows that sell-through had a sluggish start in Q1 2023, which did not help the situation. The China market remain well under pre-COVID-19 volumes.
  • The company believes it will gain smartphone SoC share in the US and Europe in 2023.
  • This will help offset the weaker sell-out expected in 2023 vs 2022. Conforming to Counterpoint’s take on the smartphone market, MediaTek recorded weak smartphone demand during Q1 2023 as consumers remained cautious. Mobile revenue is expected to be flat QoQ in Q2 2023 with an improvement in H2 2023.
  • Though global mmWave rollouts have decelerated, the company has a high performing mmWave solution. The company is not seeing any new regions ‘leaning into’ mmWave. And, even within fixed wireless access (FWA), sub-6 spectrum is the workhorse. Nevertheless, MediaTek is prepared if things change.
  • MediaTek unveiled the 9200+ SoC. Key is the 5% – 12% performance boost. Built on 2nd Gen TSMC 4nm plus optimized packaging, MediaTek expressed most OEMs will migrate to the 9200+ from the 9200 on future designs.
  • MediaTek believes the Dimensity 9000 series will help increase its share in the premium segment. vivo was the first to use MediaTek’s SoC with its X90 smartphone. Other significant design wins include the new OPPO Find N2 Flip and the Techno PHANTOM V Fold, powered by the Dimensity 9200+. To gain share in new price tiers, it will take three to four generations or more before we see how disruptive MediaTek’s flagship series will be.
  • MediaTek said that it is the leader in mobile hotspots and FWA hardware and has early satellite link hardware in the market.

MediaTek Mobile - OPPO


MediaTek - Motorola

MediaTek T-Mobile

Source: MediaTek

  • There are many areas within the premium segment that have had significant spec improvements. Gaming continues to drive specs with ray tracing, better power management, frame rate management and improved thermals. MediaTek is bringing 4x carrier aggregation to the market. For regions with fragmented 5G spectrum (such as the US), this is important for mobile operators.
  • As many regions are at the beginning of 5G rollouts, there likely will be an opportunity for growth at entry 5G. Except for some aging SoCs, pricing discipline has remained intact which is particularly important for MediaTek.
  • Connected PC continues to be a challenging segment. Like other players in the ecosystem, MediaTek is not giving up. With improved performance and better mobile service terms, things could change in the medium term. The key advantages (multi-day battery life, superior security to public Wi-Fi, fast bootup) still need to be campaigned to consumers.




MediaTek dimensity auto          Source: MediaTek

  • MediaTek confirmed that it never exited the automotive space, but rather deprioritized it. However, this has dramatically changed. The company recently announced new automotive solutions and we expect more design wins in 2023.
  • The company forecasts that its automotive revenue will reach $200 million in 2023.
  • MediaTek unveiled MediaTek Dimensity Auto:
    • Dimensity Auto Cockpit: Displays, 16 ISP cameras, theatre quality surround sound, 3nm advanced process
    • Dimensity Auto Connect: Wi-Fi, Bluetooth, 5G for supporting cockpit connection, multiple displays, hotspot support, 4x to 5x faster speeds than home gateways.
    • Dimensity Auto Components: MediaTek will supply many of the components that faced extreme shortages during the COVID-19 pandemic including power management ICs, display driver ICs and global navigation satellite systems.
    • Dimensity Auto Drive: ADAS solution with time-of-flight solutions, Wi-Fi, LiDAR, radar and 60GHz supported; this product will be manufactured with partner companies.
  • China may have more potential in the short term, but Europe and the US are expected to announce significant design wins in 2023. Mainstream and entry telematics solutions within Tier 1 OEMs may be the early low-hanging fruit.
  • MediaTek has engaged with both Tier 1 and OEMs directly. Customers will be able to pick a la carte or all platforms. Of course, the aim is to sell the entire platform. Auto Cockpit and Auto Connect will likely contribute to the bulk of revenues in 2023/24.
  • MediaTek will partner with companies to supply ADAS solutions.



Broadband Access

  • Within broadband, MediaTek doubled its revenue over the past 18 months. Key customers include T-Mobile, Verizon, DT and Telefonica. Within cloud and enterprise, key customers include Cisco and Aruba.
  • The company believes Industrial IoT has a $2.5 billion addressable market. Contributing to this market includes low-end industrial tablets, POS terminals, factory automation solutions and smart city applications. North America and Europe are driving this space in 2023.
  • Wi-Fi 7 will get certification this year with manufacturers quickly moving to sell the latest version. There will be a longer runway for Wi-Fi 7, probably four years, which is an improvement over the shorter lifespans for Wi-Fi 6 and Wi-Fi 6E.
  • Many smartphone flagships and premium notebooks in 2023 will feature Wi-Fi 7.
  • 5G CPE sales have taken off. Globally, Counterpoint Research estimates fixed wireless access (FWA) added around 25 million subscribers in 2022. FWA speeds are sufficient, service prices are competitive, and the setup is simple. MediaTek estimates that it has a 65% market share in the CPE hardware ecosystem.
  • The company is seeing a pickup in the adoption of 5G Redcap (reduced capability) in 5G IoT, wearables and AR glasses. These use cases cannot support 4×4 (antenna configuration) but can work with one antenna. Speeds are higher than LTE Cat 4 with lower latency. In addition, they have ultra-low power consumption capabilities.


VR and metaverse

  • MediaTek is very upbeat about the potential growth of its metaverse business. The company believes its metaverse total addressable market (TAM) will grow to over $100 billion in 2030 from about $1 billion in 2023. While this is more aggressive than Counterpoint Research estimates, it is no doubt a critical space.
  • MediaTek’s chipset is designed into the Sony PlayStation VR2 headset. We were able to test the VR device and each generation has made leaps in improvement. However, more improvements are still needed in various aspects.


Sony PlayStation VR2 headset

Source: Sony


Satellite and NTN

Satellite is a new and exciting space which MediaTek has emphasized on more than on mmWave opportunities. There are different implementations adopted by various providers. MediaTek is taking an open standards approach.

  • Use cases include two-way messaging, location sharing, weather forecasting, push-to-talk service, and emergency SOS. Commercialization is expected in 2025 or 2026.
  • Release 17 will be key with two types of NTN satellite communications, which will enable IoT NTN and NR NTN. It will move data transmission from KBPS to MBPS, which will add new use cases.

Satellite and NTN- MediaTek

Source: MediaTek


Q1 2023 results and 2023 outlook

Quarterly product group revenue breakdown

Source: MediaTek


  • Like many within the semiconductor sector, year-over-year comparisons look dire. According to Counterpoint Research estimates, the smartphone market will see a comeback in H2 2023 with volumes growing 12.5% over H1 2023. MediaTek has a similar outlook.
  • Mobile customers’ inventories are still elevated but the situation has improved. Sluggish mobile demand in Q1 2023 slowed the recovery. Meanwhile, some smartphone OEMs’ inventories are back to normal.
  • TV, broadband products, and smart edge are seeing market share gains despite market weakness.
  • From a small base, automotive will see gains in 2023. MediaTek believes $200 million in revenue is possible in 2023. Growth rates are uncertain as the design win cycle is so much longer in automotive than in mobile.


As 2023 global smartphone volumes will likely decline over 2022 volumes, MediaTek is striving for growth in other areas such as hardware within consumer/home/broadband, gaming/XR, connected PCs, AI and automotive.

Global Cellular IoT Module Shipments Jump 14% YoY in 2022 to Reach Highest Ever

  • Quectel and Qualcomm dominated the cellular IoT module and chipset markets, respectively.
  • NB-IoT is still popular among technologies but is expected to lose some market share to 4G CAT1.bis in 2023.
  • 5G adoption to get a boost in 2024 if ASP declines to sub-$100 and 5G RedCap-based solutions become available.
  • China continues to lead IoT module market, followed by North America and Western Europe.

San Diego, Buenos Aires, London, New Delhi, Hong Kong, Beijing, Seoul – March 29, 2023

Global cellular IoT module shipments grew 14% YoY in 2022 to register record high annual volume, despite macroeconomic headwinds, according to Counterpoint’s latest Global Cellular IoT Module and Chipset Tracker by Application report. The resumption of smart meter implementation, ongoing retail POS upgrades, intelligent asset tracking and the continued growth in connected cars due to progress in electrification and autonomous capabilities were some of the key drivers for the double-digit percentage growth in demand for IoT modules.

China continued to lead the global cellular IoT module market in terms of demand, followed by North America and Western Europe. Meanwhile, India was the fastest growing market, followed by Latin America and North America. Although India has a smaller base, it has immense potential. Eastern Europe was the only region that registered a decline due to the prolonged Ukraine-Russia war.

Commenting on the competitive dynamics among cellular IoT module OEMs, Senior Research Analyst Soumen Mandal said, “In 2022, Quectel was the top cellular IoT module player in China, the world’s largest market for these components. Meanwhile, China Mobile and Fibocom captured second and third place, respectively, enjoying their tremendous scale in the domestic market. Outside of China, Quectel remained the leader followed by Telit and Thales which have merged and will commence operations as a new brand, Telit Cinterion, starting Q1 2023.

Quectel increased its focus in the consolidating automotive (NAD module) segment in 2022 and secured multiple design wins with major automakers. The competition in the NAD module market is intensifying as the industry transitions to 5G connectivity. With every transition of cellular technology, we have seen the market consolidate as it becomes increasingly challenging to serve the automotive segment, which requires heavy customization but garners a lower margin.

China Mobile, the world’s largest CSP and IoT connectivity player, is becoming more vertically integrated by leveraging its massive scale to capture maximum value. It has the potential to break into the top three global cellular IoT module rankings this year. However, the company primarily operates in China and will need to expand into other verticals and markets via a robust partnership model to maintain its momentum.”

IoT Module Market 2022 Counterpoint

Commenting on the IoT cellular connectivity chipset player dynamics, Associate Director Ethan Qi said, “Qualcomm continued to dominate the cellular IoT chipset market in 2022 with nearly 40% shipments share. Qualcomm strengthened its position in the LTE CAT 4 and higher technologies while also maintaining a dominant position in the 5G market. Qualcomm recently launched its latest 4G CAT1.bis chipset, QCX216, to compete head-on with the LTE CAT1.bis leaders UNISOC and Eigencomm.

Qi added, “In 2022, UNISOC and ASR maintained their second and third positions due to strong adoption of the fast-growing LTE CAT1.bis and CAT 1 based modules, respectively. During the year, two new players from China, Eigencomm and Xinyi Semiconductor, broke into the top five cellular IoT chipset vendor rankings, filling the gap left by Hisilicon. Eigencomm focuses on NB-IoT and 4G CAT1.bis applications while Xinyi Semiconductor focuses on NB-IoT chipsets, both being low-cost but high-volume segments.”IoT Chipset Market 2022 Counterpoint

Commenting on the technology landscape, Mandal added, “During 2022, NB-IoT remained the most popular LPWA IoT connectivity technology followed by the fast-growing 4G CAT 1 and 4G CAT 4 modules. Together, these contributed to 60% of the total IoT module market. For most of 2022, China was under lockdown due to the resurgence of COVID-19 which drove greater demand for products such as smart door locks, digital thermometers and wearables, mostly powered by NB-IoT.

NB-IoT saw strong adoption in China but has been less popular outside the country. In contrast, 4G CAT.1bis has been gaining traction globally and has the potential to be an alternative to several NB-IoT and existing 2G/3G applications such as smart meters. However, 5G saw slower adoption in IoT than in smartphones last year due to the higher module costs. The key initial 5G applications are PCs, CPEs and some industrial/enterprise applications.

We believe 5G will enter the mainstream market once the module ASP breaks the sub-$100 barrier and receives a further boost from the 5G RedCap commercialization in coming years.”

Commenting on the IoT market outlook for 2023, Associate Director Mohit Agrawal said, “Global cellular IoT module shipments (including NAD modules) are expected to register robust growth of 19% YoY in 2023. The growth of IoT module shipments in the high-value industrial segment will be key for the IoT projects that have struggled to move beyond the pilot stage and for companies that are focusing more on ROI in a tough macroeconomic environment. Nevertheless, shipments of IoT modules for the smart meter, point of sale (POS) and the automotive markets are expected to continue seeing strong growth, which will offset a slowdown in other segments.”

The market has been undergoing consolidation across the IoT value chain from module players and connectivity management to IoT platform players. This has highlighted the importance of scale, choosing the right vertical and capturing value by striking the right partnerships or developing the right capabilities. We could see some more exits and mergers in 2023 because IoT, which is very vertical driven, has been seeing volatile growth due to internal or external factors.”

For detailed research, refer to the following reports available for subscribing clients and individuals:

Counterpoint tracks 1,500+ IoT module SKUs on a quarterly basis and provides forecasts on shipments, revenues and ASP performances for 80+ IoT module vendors, 12+ chipset players and 18+ IoT applications across 10 major geographies.


Counterpoint Technology Market Research is a global research firm specializing in products in the technology, media and telecom (TMT) industry. It services major technology and financial firms with a mix of monthly reports, customized projects and detailed analyses of the mobile and technology markets. Its key analysts are seasoned experts in the high-tech industry.

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Soumen Mandal

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Weak Q4 2022 for MediaTek; Revenues to Further Decline in Q1 2023

  • MediaTek’s revenue was down 25% YoY and 26% QoQ in Q4 2022.
  • The mobile phone segment’s revenue declined 25% YoY and 30% QoQ.
  • MediaTek has downgraded Q1 2023 revenues to $3.0-$3.4 billion, a decline of 35-40% YoY and 3-12% QoQ.
  • The company has guided the inventory levels to normalize by the end of H1 2023.

MediaTek has reported $3.4 billion in revenue for Q4 2022, down 25% YoY and 26% QoQ. For the full year of 2022, the revenue was $18.7 billion, up 6% YoY. MediaTek delivered a strong H1 2022 driven by 5G SoCs but a weak H2 2022 due to macroeconomic headwinds and customer inventory adjustments. The QoQ decline was due to the slow China market, weak consumer demand and inventory correction by smartphone OEMs. The mobile phone segment’s revenue declined 25% YoY and 30% QoQ due to aggressive inventory adjustments by customers. The segment contributed 52% of MediaTek’s Q4 2022 revenue.

MediaTek Q4 Earning



  • The smart edge segment, which contributed 42% to the company’s revenue in the fourth quarter, declined 18% sequentially due to order cuts from telecommunication operators for inventory adjustment. Revenues from enterprise ASIC and automotive products increased due to growing popularity in the US and Europe regions.
  • The power IC segment accounted for 6% of MediaTek’s revenue, declining 37% QoQ in Q4 owing to weak demand from consumer devices such as smartphones. But the demand for power ICs from automotive and industrial applications increased in Q4.
  • Changing view from the previous quarter’s guidance, MediaTek downgraded Q1 2023 revenues to the range of $3.0-$3.4 billion, a decline of 35-40% YoY and 3-12% QoQ. Gross margins in Q1 2023 are expected to be around 47.5% and the operating expense ratio around 33%. Most smartphone OEMs will follow a conservative approach to maintaining their inventory. Smart TV and Wi-Fi will see a slight increase in demand in the first quarter.
  • MediaTek also launched satellite-based connectivity solutions with Bullitt group, to be available in Q1 2023. MediaTek is the third player after Apple and Qualcomm to offer satellite-based connectivity solutions.
  • MediaTek guided the inventory levels to normalize by the end of H1 2023. This is in line with our view. In H2 2023, MediaTek expects to see growth in revenues. Currently, Chinese smartphone OEMs have 3-3.5 months of smartphone inventory levels, which will come down to 2-2.5 months by the end of Q1 2023.
  • According to Counterpoint Research’s Smartphone AP/SoC Shipment Tracker, MediaTek shipments have declined due to ongoing inventory adjustments, global macroeconomic situation, and a weak China market. LTE SoCs declined more than 5G SoCs in Q4 2022.
  • Overall, weak guidance from MediaTek for Q1 2023. The first half of 2023 is going to be tough due to inventory correction and macroeconomic uncertainties. We forecast the market to bounce back and inventory levels to come back to normal in the second half. We expect the overall smartphone shipments to be flat in 2023. Therefore, despite the growth in the second half, we forecast smartphone AP SoC shipments to contract in 2023.

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Top 10 IoT Announcements at CES 2023

At the first full-fledged CES event after the pandemic, the excitement was palpable. The event did not disappoint in terms of the variety of announcements across the internet of things (IoT) spectrum. Our teams, both on-ground and online, tracked over 260 announcements made by over 240 companies covering a range of segments across consumer, enterprise and industrial.

Devices formed the most popular category, with three out of every five announcements relating to this segment. As expected, the consumer and smart home sectors took center stage, but it was intriguing to see new launches in industry segments such as agriculture. Additionally, smart home,  metaverse, augmented reality, healthcare and robotics were among the most talked about segments, attracting large crowds.

CES IoT Trend Counterpoint

Here are the top 10 IoT announcements from this year’s CES, according to Counterpoint analysts:

1. Wi-Fi: MediaTek launches Genio 700, Wi-Fi 7 products

MediaTek introduced the Genio 700 IoT chipset targeting industrial, smart home and smart retail applications. This chipset will be available by Q2 2023. MediaTek also showcased Wi-Fi 7-supported products like gateways, mesh routers, televisions, streaming devices, smartphones, tablets and laptops partnering with TP-Link, Lenovo, Hisense, ASUS, BUFFALO INC, Skyworks, AMD, Qorvo, LitePoint and MAC MLO among others.

MediaTek is slowly diversifying its offerings beyond smartphones. The availability of products with superior capabilities and increased partnerships will help MediaTek increase its footprint in the IoT market.

MediaTek launches Genio 700, Wi-Fi 7 products Counterpoint

2. Smart Home: TP-Link expands Tapo smart home products

TP-Link unveiled new products under its Tapo line of smart home devices. These new additions include cameras, a doorbell camera, a smart video door lock, robot vacuums and a smart hub home connection center. Besides, the company also launched its first Matter-certified smart plugs, smart switches, smart outlet extenders and smart bulbs. The launch of these products at CES 2023 highlights TP-Link’s focus on expanding and diversifying its offerings in the smart home market.

The company’s adoption of the Matter protocol for its Tapo and Kasa lines of smart home products shows its commitment to making smart home technology more accessible and user-friendly.

In addition to the smart home products, TP-Link also showcased Wi-Fi 7-supported router and gateway solutions for use in homes, enterprises and ISPs. The integration of Wi-Fi 7 will improve the gaming experience, as well as increase productivity in enterprise applications.

TP-Link expands Tapo smart home products Counterpoint

3. Asset Tracking: Pod introduces paper-thin tracker with SODAQ, Lufthansa

Pod Group, in partnership with SODAQ and Lufthansa Industry, has developed a paper-thin smart label tracking device that utilizes low-power cellular connectivity (LTE-M) for a battery life of up to six months. This sustainable, eco-friendly device uses alkaline batteries instead of lithium and has the potential to revolutionize the tracking and logistics industry by improving supply chain efficiency and reducing operational costs.

Similar efforts by SODAQ with Vodafone and Bayer utilizing NB-IoT technology have been observed, but the use of Low Power Wide Area Network (LPWAN) may be more beneficial as it targets a wider range of telecommunications operators.

Pod introduces paper-thin tracker with SODAQ, Lufthansa Counterpoint

4. Sensor: Bosch showcases sensor technology

Bosch Group subsidiary Bosch Sensortec presented a variety of new sensors at CES 2023. These offerings include an AI-enabled smart sensor system, magnetometer, barometric pressure sensor, and an air quality sensor. These sensors demonstrate advancements in power efficiency, accuracy and compact size, and aim to enhance the user experience by tracking personal health and fitness, providing accurate data and prolonging battery life.

Bosch has been a leading manufacturer of micro-electromechanical system (MEMS) sensors since 1995 and has produced over 18 billion units to date. It is also investing in quantum sensors, which can provide measurements that are significantly more precise than current MEMS sensors and enable more accurate diagnosis of neurological diseases. Additionally, the company is developing angular rate sensors that use the nuclear magnetic resonance of noble gas atoms and are optically pumped. These could prove to be highly precise and stable for navigation applications. Bosch believes that sensors will play a key role in IoT and continues to make investments in this area.

Bosch showcases sensor technology Counterpoint

5. Modules: Quectel enables satellite connectivity, strengthens automotive module portfolio

Quectel is partnering with Skylo to integrate satellite connectivity into its 5G-ready BG95x/BG77x series of LPWA modules. This hybrid connectivity solution improves network coverage and makes it ideal for a variety of applications, such as trackers, wearables, smart cities and smart meters. Low-earth orbit (LEO) satellites are going to be a key for the non-terrestrial networks (NTN) coming up in 3GPP Rel17/18 in addition to the high-altitude platform system (HAPS).

Quectel also launched the AG59X series of automotive-grade 5G modules based on Qualcomm’s SA525M platform to support autonomous driving. The company has strong partnerships with Chinese automakers such as Li Auto, Nio and BYD, and this module will further strengthen its efforts to increase share in the automotive connectivity market.

Quectel enables satellite connectivity, strengthens automotive module portfolio Counterpoint

6. AR/VR: Thundercomm unveils XR2 VR HMD, 5100 AR glasses and smart vending machine

Thundercomm, a joint venture between Thundersoft and Qualcomm, unveiled a VR HMD solution based on the Snapdragon XR2 platform and AR glasses based on the Snapdragon W5 platform. These products will not only provide flagship experience but also offer low power consumption, higher resolution and more wear comfort. The AR/VR space is heating up with the increased participation from leading technology and smartphone players such as Meta, Apple, HTC and Google. However, an early entry can be beneficial for Thundercomm.

The newly launched smart vending machine will help increase operational efficiencies for retailers. Moreover, this solution will improve the shopping experience and further extend retailers’ reach. Thundercomm is expanding its product lines to capture maximum value from both the consumer and enterprise IoT markets.

Thundercomm unveils XR2 VR HMD, 5100 AR glasses and smart vending machine Counterpoint

7. Robotics & Drones: Autel Robotics showcases EVO Max 4T drone

Autel Robotics has unveiled a new drone, the EVO Max 4T, which is capable of a variety of applications such as autonomous navigation, semi-autonomous flight missions, firefighting, and inspections. It is equipped with three high-quality cameras, capable of capturing footage from a distance of 1.2 km. Autel has also released the Dragonfish NEST infrastructure, which supports automated eVTOL systems, and the EVO NEST infrastructure, which can operate in all weather conditions.

Drones and eVTOLs will see higher adoption in the future with better efficiency in power consumption, security improvements and better regulatory compliances. These innovations will help Autel increase its presence in the enterprise market and remain competitive with companies like DJI.

Autel Robotics showcases EVO Max 4T drone Counterpoint

8. Industrial IoT: ZVISION partners NVIDIA to improve industrial sensing

ZVISION, a provider of solid-state MEMS LiDAR solutions, is working with NVIDIA to use its robotics simulation platform Isaac Sim to develop advanced robot sensing capabilities and provide high-performance LiDAR solutions.

In Industry 4.0, robotics and simulation will play a key role. Its partnership with NVIDIA will allow ZVISION to expand its applications beyond vehicles, while also reducing costs and speeding up time-to-market for companies undergoing digital transformation. ZVISION offers both short- and long-range LiDAR options that can be tailored to various applications.

ZVISION partners NVIDIA to improve industrial sensing Counterpoint

9. Platform: Tuya pushes PaaS 2.0, Cube for digital transformation

Tuya officially launched PaaS 2.0 to develop personalized solutions to fulfill global customers’ demands for “product differentiation and independent control”. For private cloud customers, it also unveiled Cube, an enterprise-level IoT platform deployment solution.

PaaS 2.0 is a unique innovation that can assist customers in reducing R&D costs and increasing product competitiveness. Tuya is focusing on public and enterprise cloud applications which are dominated by big cloud players like Alibaba cloud and Tencent cloud.

Tuya pushes PaaS 2.0, Cube for digital transformation Counterpoint

10. Healthcare: OMRON launches blood pressure monitor with ECG

OMRON introduced a new upper-arm blood pressure monitor with built-in ECG capabilities. This device aims to facilitate the early detection of heart disease by combining blood pressure monitoring and ECG technology. Utilizing home-monitored data, healthcare professionals will be able to provide early treatment and detect Atrial Fibrillation (AFib) at an early stage.

The company also announced the expansion of its digital healthcare apps with new features, such as the Personal Heart Health Coach and the Care Team within the OMRON Connect app. These new features will utilize AI technology to analyze vital data and provide patients with personalized guidance and exercise advice. OMRON’s innovative solution, leveraging technologies like AI, ML and IoT, will help healthcare professionals to better understand patient data through analysis.

OMRON launches blood pressure monitor with ECG Counterpoint


CES 2023 has provided ample food for thought for industry executives. Each of the announcements made at the event has significant implications for the direction of the industry. For example, the satellite-related announcements made by chipset and module players could help IoT companies focus on new use cases. Additionally, with Wi-Fi 7 becoming mainstream and Matter-certified home products being rolled out, we can expect to see a significant uptick in demand for smart home products. These developments and more continue to shape the future of IoT and solidify the role technology plays in our daily lives. With more innovation, the possibilities are endless and we are excited to see how the industry will continue to evolve.

Related Reports


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