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LTE IoT Market Global Industry Growth Analysis by 2018-2028

09-17-2019 02:46 PM CET | IT, New Media & Software

Press release from: TMR Research

TMR Research

TMR Research

LTE IoT is gaining immense traction on account of its unmatched scalability for connecting multiple enterprise, industrial, and consumer IoT applications. LTE IoT facilitates enhanced communication and connection in a much more enhanced and secured way, which is a key factor leading to drastic transformations across industries.

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LTE IoT is enabling a massive inflow of smart and connected devices, which would of great importance to new as well as existing services across various industries. LTE IoT is inducing radical transformation across multiple businesses and is also fuelling innovations for many more years to come. Significant benefits of LTE IoT over non-3GPP LPWA solutions also remains one of the key reasons bolstering its adoption across multiple end-use industries.

LTE IoT Market- Notable Highlights

In 2018, Vodafone in New Zealand announced the successful launch of two of its cellular IoT technologies, namely LTE-M and NB-IoT on the existent 4G network infrastructure of the country.
In 2018, Ericsson entered into a strategic partnership with Dialog Axiata Partners. This partnership was aimed at deploying the first-ever commercial IoT network that will support both NB-IoT and Cat-M1 technologies in the South Asian countries.

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Some of the most prominent competitors operating in the competitive landscape of global LTE IoT market include –

Ericsson
NetNumber
Vodafone
Athonet
Link Labs
Telstra
Sequans Communications
Sierra Wireless
MediaTek
PureSoftware
Orange
Telus
T-Mobile
Actility
Telensa

LTE IoT Market- Consistent End-User Demand for Professional Services Boosts Market Players’ Profit

Demand for professional services by end-users during or after implementation of LTE IoT technologies, including NB-IoT and LTE-M is on a significant rise, creating sustained opportunities for vendors in the LTE IoT market. These professional services, ranging from design & implementation to support & maintenance, will enable the market players to reap sizeable profits.

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Professional services remain a key sales influencer of the LTE IoT market, as it is highly imperative for the end-users to analyze feasibility and competency of LTE IoT. In order to capitalize on the aforementioned, vendors operating in the LTE IoT market are employing security experts, productive consultants, and dedicated teams with a robust know-how vis-à-vis design & delivery of software, tools and services.

LTE IoT Market- Demand for LTE IoT from Manufacturing Industry to Surge, Optimizing Productivity Remains the Key Driving Factor

The manufacturing landscape has witnessed some colossal transformations and reformations on account of incessant advancements in technologies, including automated production and robotics. Owing to the complexities involved, manufacturers are actively embracing IoT and associated platforms, in order to have a production ramp-up.

With the evolution of manufacturing as a self-manageable and intelligent ecosystem, manufacturers are vying to have smart and sustainable production with satisfactory results. This, in turn, is creating favorable circumstances for the growth of LTE IoT market. Moreover, growing demand to have productive connectivity across manufacturing ecosystems, in order to address issues related to autonomous production and predictive maintenance, is favoring growth of LTE IoT market.

LTE IoT Market- Competency in Terms of Boosting Efficiency: A Key USP

Apart from traditional makers of smartphones, routers, and tablets, adoption of LTE-enabled IoT is also gaining traction in case of non-traditional device maker. LTE IoT facilitates connecting niche devices, the devices that have never been connected, to Internet. These devices are being widely-acknowledged across multiple end-use verticals, including security, healthcare, retail, advertising, energy, transportation, agriculture, and others, owing to their role in boosting the overall efficiency.

LTE IoT Market Segmentation

On the basis of technology, the segmentation of LTE IoT market is

NB-IoT
LTE-M

On the basis of service, the segmentation of LTE IoT market is

Managed services
Professional services

On the basis of Industry, the segmentation of LTE IoT market is

Transportation and logistics
Healthcare
Agriculture
Manufacturing
Energy and utilities

About TMR Research:

TMR Research is a premier provider of customized market research and consulting services to business entities keen on succeeding in today’s supercharged economic climate. Armed with an experienced, dedicated, and dynamic team of analysts, we are redefining the way our clients’ conduct business by providing them with authoritative and trusted research studies in tune with the latest methodologies and market trends.

Contact:

TMR Research,
3739 Balboa St # 1097,
San Francisco, CA 94121
United States
Tel: +1-415-520-1050

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