Global 2026 Q1 Tech Market Growth

The global market for cellular IoT modules expanded 4% year‑on‑year in the first quarter of 2026, ending a seven‑quarter streak of double‑digit growth. China, the largest IoT module market, saw shipments fall 2% due to seasonal demand slowdown and weaker automotive sales, while India posted double‑digit gains driven by smart‑meter, POS, asset‑tracking and telematics demand. 4G Cat 1 bis modules grew 12% and 5G modules surged 39% year‑on‑year, led by router/CPE, connected‑PC and automotive applications.

In the semiconductor sector, total revenue rose 27% quarter‑on‑quarter to $319 billion, the strongest QoQ gain recorded since Omdia began tracking the market. Memory accounted for more than 40% of revenue, with DRAM and NAND earnings surging — NAND reached nearly $48 billion, up 96% YoY, as average selling prices jumped 95% on strong AI and data‑center demand and supply constraints. Non‑memory components posted modest growth of just over 2% QoQ, with microcontrollers, discrete and optoelectronic parts showing slight declines. Analysts expect the momentum to continue into Q2, keeping 2026’s first‑half semiconductor revenue on track to exceed $7 trillion.