Shipping of wireless communication modules, key products and financial conditions, future product development strategy

DUBLIN, June 10, 2022 / PRNewswire / – “Developing China’s Leading IoT Module Vendor: Neoway Technology” Report Added to by offer.

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Founded in 2006, Neoway Technology is a leading Chinese supplier of wireless communication modules for Internet of Things (IoT) applications with products ranging from IoT wireless communication modules to on-board diagnostic systems. For years, its wireless communication modules have dominated of China market for smart grid offers.

The company also collaborates with European and US telecommunications operators, as well as automotive component suppliers on in-vehicle diagnostic systems. Although severely affected by COVID-19 in 2020, Neoway predicts the next stage of growth on the demand to replace three major energy meters in China and the continuous growth of V2X (Vehicle to Everything) products abroad.

List of topics

  • Development of Neoway technology, touching its shipment and revenue trend, as well as financial conditions for the period 2016-2021

  • Development of Neoway’s core modular products and includes its first five customers including sales value

  • Future product development strategies in the fields of smart grids, smart water meters and smart gas meters

Key topics covered:

1. Neoway Technology wireless communication module shipments
1.1 Neoway ranks 4th in shipments of wireless communication modules China

2. Key products and financial conditions
2.1 Company history
2.1.1 Phase 1 (2006-2009): develop the technology
2.1.2 Phase 2 (2009-2015): lays a solid foundation for its leadership position in of China Smart Grid Market
2.1.3 Phase 3 (2016-present): extends to V2X and IIoT and to pursue the diversification and growth of products in the foreign 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 for the first time in 2020
2.4.2 Gross profit margin at 14.7%
2.4.3 Increase spending in preparation for 5G

3. Future product development strategy

3.1 Continue to develop the smart energy market with its leadership 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 Focus on V2X terminals as a new growth driver

4. Perspective of the analyst

Companies mentioned

  • Ali Baba

  • Arrow Asia Pac Limited

  • AT&T

  • Holding company of the Beijing auto industry

  • Beijing Yidianyuan network technology

  • CPON

  • Fibocom

  • Gansu Province Electricity Investment Group

  • Genus Power Infrastructure

  • Electric gree

  • The next group

  • Harman

  • Intel

  • Average

  • MediaTek

  • Neoway technology

  • Qualcomm

  • Quectel Wireless

  • Reliance


  • Shenzhen Clou Electronics

  • Shenzhen Zhaoxin E-Tech

  • Sunsea AIoT technology

  • Suzhou Fulei electrical appliance

  • Telefonica

  • Vanke

  • I LIVE

  • Wahlap technology

  • Wahlee

  • Wasion Group

  • Yantai dongfang-Wisdom Electric

  • ZTE

For more information on this report, please visit

Media contact:

Research and Markets
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