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Development of the Leading Chinese IoT Module Supplier: Neoway Technology

Published: | MIC - Market Intelligence & Consulting Institute | 15 Pages | Delivery time: 3-5 business days


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Development of the Leading Chinese IoT Module Supplier: Neoway Technology
Published: March 15, 2022
MIC - Market Intelligence & Consulting Institute
Content info: 15 Pages
Delivery time: 3-5 business days
  • Description
  • Table of Contents
  • List of Tables

Founded in 2006, Neoway Technology is one of leading Chinese wireless communication module suppliers for IoT (Internet of Things) applications with products covering from IoT wireless communication modules to in-vehicle diagnostics systems. For years, its wireless communication modules have dominated China’s smart grid bidding market. The company also works with European and US telecom operators as well as car part suppliers on in-vehicle diagnostics systems. While badly hit by the COVID-19 in 2020, Neoway expects next leg of growth on replacement demand for three major energy meters in China and the continued growth of V2X (Vehicle to Everything) products overseas.

Product Code: DCRPT22031501

Table of Contents

1.Neoway Technology’s Wireless Communication Module Shipments

  • 1.1 Neoway Holds 4th Position in Wireless Communication Module Shipments in China

2.Key Products and Financial Conditions

  • 2.1 Company History
    • 2.1.1 Phase 1 (2006-2009): Develops technology
    • 2.1.2 Phase 2 (2009 - 2015): Lays a Solid Foundation for its Leading Position in China’s Smart Grid Market
    • 2.1.3 Phase 3 (2016 - now): Extends to V2X and IIoT and to Pursue Product Diversification and Growth in Overseas Market
  • 2.2 Key Products and Customers
  • 2.3 Shareholders and Management
  • 2.4 Financial Conditions
    • 2.4.1 Revenue and Net Profit Growth Slows Down in 2020 for the First Time
    • 2.4.2 Gross Profit Margin at 14.7%
    • 2.4.3 Ramping Up Spending in Preparation for 5G

3.Future Product Development Strategy

  • 3.1 Continuing to Develop the Smart Energy Market with its Leading Position
    • 3.1.1 Smart Grid
    • 3.1.2 Increased Adoption of NB-IoT in the Smart Water Meter and Smart Gas Meter Markets
  • 3.2 Focusing on V2X Terminals as a New Growth Driver

4.MIC Perspective

  • Margin


  • List of Companies

List of Tables

  • Table 1. Comparison of China’s Top 5 Wireless Module Suppliers
  • Table 2. Neoway’s Milestones
  • Table 3. Neoway’s Top Five Customers

List of Figures

  • Figure 1. Neoway’s Major Module Products
  • Figure 2. Neoway’s Revenue, Gross Profit Margin, and Net Profit Margin, 2016 - 2021
  • Figure 3. Neoway’s Water Utilization Solutions
  • Figure 4 Application of Neoway’s V2X Products
  • Figure 5. Neoway’s V2X Solutions

List of Topics

Development of Neoway Technology, touching on its shipment and revenue performance as well as financial conditions for the period 2016-2021

Development of Neoway’s major module products and includes its top five customers with sales value included

Future product development strategies in the areas of smart grid, smart water meter, and smart gas meter

Companies covered

Arrow Asia Pac Limited
Beijing Automotive Industry Holding
Beijing Yidianyuan Network Technology
Gansu Province Electric Power Investment Group
Genus Power Infrastructures
Gree Electric
Grupo Next
Neoway Technology
Quectel Wireless
Shenzhen Clou Electronics
Shenzhen Zhaoxin E-Tech
Sunsea AIoT Technology
Suzhou Fulei Electric Appliance
Wahlap Technology
Wasion Group
Yantai dongfang-Wisdom Electric