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Cellular IoT Market worth $20.81 billion by 2030, growing at a CAGR of 19.81% - Exclusive Report by 360iResearch
Cellular IoT Market | 360iResearch
The Global Cellular IoT Market to grow from USD 4.90 billion in 2022 to USD 20.81 billion by 2030, at a CAGR of 19.81%.
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The Cellular IoT market encompasses products, services, and solutions that facilitate large-scale device connectivity over cellular networks. Cellular IoT technology facilitates low-power, long-range applications across various industries, such as smart cities, agriculture, healthcare, logistics, and energy management, enhancing these sectors' capabilities by enabling efficient data collection, analysis, and decision-making. Adoption of low-power wide-area (LPWA) technologies such as Narrowband-IoT (NB-IoT) or Long Range (LoRa) and advancements in machine learning algorithms for improved sensor data analysis along with government investments in smart city infrastructure are supporting the application of cellular IoT. However, high deployment costs in remote areas, data privacy and security concerns, and non-standardized communication protocols leading to interoperability issues among systems are hindering the market's growth. The development of energy-efficient connectivity solutions and investments in AI-powered advanced data analytics platforms for processing vast sensor data is expected to create an opportunistic landscape for the market.
The cellular IoT market showcases strong growth in the Americas region owing to a significant focus on research and investment in IoT technologies and various initiatives such as smart cities projects, driving local governments to adopt cellular connectivity for urban infrastructure management. Major economies in the EU region have been at the forefront of implementing IoT solutions across various verticals. The European Commission's Horizon 2020 program allocated significant funding toward research and innovation in IoT applications. This has led to numerous advancements in connected vehicles, smart agriculture, and energy management systems. The MEA region depicts an opportunistic landscape for cellular IoT adoption owing to the ever-growing need for improved connectivity across industries such as oil & gas production or management and smart water resource management systems. Market growth in the APAC region can be attributed to increasing investments in smart cities. Efforts from private enterprises and governments toward improving road safety through intelligent transportation systems have accelerated cellular IoT adoption for traffic control applications. The emergence of Industry 4.0 encourages manufacturers across APAC countries to invest in cellular IoT devices to streamline their operations, increase productivity, and reduce costs.
Market Segmentation & Coverage:
This research report categorizes the Cellular IoT Market in order to forecast the revenues and analyze trends in each of following sub-markets:
Based on Type, market is studied across 2G, 3G, 4G, 5G, LTE-M, NB-IoT, and NB-LTE-M. The 5G commanded largest market share of 24.67% in 2022, followed by LTE-M.
Based on Component, market is studied across Hardware, Services, and Software. The Hardware commanded largest market share of 44.65% in 2022, followed by Services.
Based on Application, market is studied across Connected Vehicle, Drones or UAV, Fleet Management, Smart Grid Automation, Smart Metering, Surveillance & Monitoring, Traffic Safety & Control, and VR/AR. The Smart Metering commanded largest market share of 16.32% in 2022, followed by Surveillance & Monitoring.
Based on End-User, market is studied across Agriculture, Automotive & Transportation, Construction & Building Infrastructure, Consumer Electronics, Energy, Environmental Monitoring, Healthcare, and Retail. The Automotive & Transportation commanded largest market share of 33.95% in 2022, followed by Construction & Building Infrastructure.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Europe, Middle East & Africa commanded largest market share of 38.22% in 2022, followed by Americas.
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FPNV Positioning Matrix:
The FPNV Positioning Matrix is essential for assessing the Cellular IoT Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).
Market Share Analysis:
The Market Share Analysis offers an insightful look at the current state of vendors in the Cellular IoT Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.
Key Company Profiles:
The report delves into recent significant developments in the Cellular IoT Market, highlighting leading vendors and their innovative profiles. These include Aeris Communications, Inc., Amazon Web Services, Inc., AT&T Inc., China Telecom Corporation Limited, China Unicom Limited, Google LLC by Alphabet Inc., Huawei Technologies Co., Ltd., Jio Platforms Limited by Reliance Industries Limited, Kiddi Corporation, MediaTek, Inc., Microchip Technology Inc., Microsoft Corporation, NEC Corporation, Nippon Telegraph and Telephone Corporation, Nokia Corporation, Nordic Semiconductor ASA, NXP Semiconductors N.V., Onomondo ApS, Orange Group, Particle Industries, Inc., Proximus PLC, Qualcomm Incorporated, Quectel Wireless Solutions Co., Ltd., Renesas Electronics Corporation, Rogers Communications, Sequans Communications S.A., Sierra Wireless, Inc. by Semtech Corporation, SK Telecom Co., Ltd., STMicroelectronics N.V., Tata Communications Limited, Telefonaktiebolaget LM Ericsson, Telefónica, S.A., Telekom Deutschland GmbH, Telia Company AB, Telit Communications, Telstra Group Limited, Telus Corporation, Texas Instruments Incorporated, U-blox AG, Verizon Communications Inc., Vodafone Group PLC, Würth Elektronik eiSos GmbH & Co. KG, Zipit Wireless, Inc, and ZTE Corporation.
Key Topics Covered:
1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Cellular IoT Market, by Type
7. Cellular IoT Market, by Component
8. Cellular IoT Market, by Application
9. Cellular IoT Market, by End-User
10. Americas Cellular IoT Market
11. Asia-Pacific Cellular IoT Market
12. Europe, Middle East & Africa Cellular IoT Market
13. Competitive Landscape
14. Competitive Portfolio
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the Cellular IoT Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Cellular IoT Market?
3. What is the competitive strategic window for opportunities in the Cellular IoT Market?
4. What are the technology trends and regulatory frameworks in the Cellular IoT Market?
5. What is the market share of the leading vendors in the Cellular IoT Market?
6. What modes and strategic moves are considered suitable for entering the Cellular IoT Market?
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