With the emergence and long-term Impact of COVID-19, Global Cellular IoT Market to reach USD 23.66 Billion by 2030
Bizwit Research & Consulting LLP’s Recent Analysis on Global Cellular IoT Market is poised to raise up to USD 23.66 Billion by 2030. Cellular IoT, or Cellular Internet of Things, utilizes cellular networks such as LTE-M, NB-IoT, and 5G to establish connectivity and communication among IoT devices. This technology enables the seamless exchange of data between IoT endpoints, ensuring reliable, secure, and scalable connectivity leveraging existing cellular infrastructure. Cellular IoT facilitates the deployment of IoT solutions across diverse use cases with applications in various industries, supporting a multitude of connected devices. Its advantages include improved coverage, extended battery life, and enhanced security, making it a key enabler for the widespread adoption of IoT technologies.
The rising integration of edge computing with massive IoT deployments, increasing demand for 5G cellular IoT in homeland security with surveillance, and increasing application of cellular IoT modules in medical wearables are the most prominent factors that are propelling the market demand across the globe.
Geographically, the global Cellular IoT market has been segmented into North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa (MEA). North America dominated the market in 2022 owing to the ongoing advancements in cellular technology, increasing adoption of Internet of Things (IoT) technologies, as well as innovative applications of Cellular IoT in precision agriculture, smart grid technologies, and advanced healthcare solutions. Whereas, Asia Pacific is expected to grow at the highest CAGR during the forecast years. The soaring demand for connected health wearable devices, the increase in deployment of smart city projects and the rapid development of 5G infrastructure are significantly propelling the market demand across the region.
The global Cellular IoT market is highly competitive owing to the presence of several key market players such as Qualcomm Incorporated, Sierra Wireless, Telit Communications (Thales Group), Nordic Semiconductor ASA, AT&T Corporation, Nokia Corporation, and others.
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Key findings of the study suggest:
- Global Cellular IoT Market is anticipated to grow with a healthy growth rate of more than 23.4% over the forecast period 2023-2030.
- In the Network Type segment, 4G emerged as the leading market segment in 2022.
- North America is anticipated to drive regional growth ongoing advancements in cellular technology, increasing adoption of Internet of Things (IoT) technologies, as well as innovative applications of Cellular IoT in precision agriculture, smart grid technologies, and advanced healthcare solutions.
- Asia-Pacific is expected to grow at a higher rate followed by North America during 2023-2030.
Bizwit Research & Consulting has considered following segments for the study:
Network:
- 2G/3G
- 4G
- LTE-M
- 5G
- NB-IoT
Connection:
- Wi-Fi
- Broadband
- Satellite
- Cable
- Others
Application:
- Broadband IoT
- Massive IoT
- Industrial Automation
- Critical IoT
End-user:
- Individual
- Commercial/Enterprise
- Industrial
Regional Outlook
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Korea
- Australia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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