ECHING (dpa-AFX) - Austria-based Kontron AG (KTN), a provider of IoT Technology, on Thursday announced that it has secured a contract valued at approximately $250 million for supply of 5G automotive IoT connectivity modules for several global automotive manufacturers.
In terms of the agreement, Kontron would supply 5G-based Network Access Devices that support the automotive industry's transition to cutting-edge 5G technology. The market for 5G automotive NAD modules is expected to reach a cumulative volume of more than $10 billion by 2030.
Ramp-up of production would be in 2026. The expected revenues of $250 million would be delivered within 7 years or faster.
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