80 Million RedCap IoT Module Shipments Forecast by 2029, of Which 71% Will be eRedCap

The second iteration of the RedCap standard enhanced RedCap (eRedCap) will reduce device complexity even further to unlock another sizeable addressable market for IoT devices OEMs that currently use, or plan to use, LTE-Cat-1 and Cat-1bis. These LTE categories serve a substantial pool of IoT applications, representing a greater market opportunity than 5G RedCap. From 2024 to 2029, 56 million modules, or 71% of all RedCap modules, are due to be eRedCap, with 23 million, or 29% of RedCap modules for 5G RedCap (R17).

Sequans has already announced its intention to develop an eRedCap chip, and we can expect more silicon vendors to follow in what is projected to be a hyper-competitive space. "As a replacement for LTE Cat-1 and Cat-1bis, eRedCap will be widely applicable in connecting devices across the IoT application landscape, and chipset and module manufacturers will seek to attain customer loyalty as early as possible," concludes Budd.

These findings are from ABI Research's 5G RedCap Standards and Chipsets for IoT application analysis report& Devices report. This report is part of the company's IoT Hardware & Devices research service, which includes research, data, and ABI Insights. Based on extensive primary interviews,  Application Analysis reports present an in-depth analysis of key market trends and factors for a specific technology.

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