Here's how Cellular IoT Market growing at CAGR of +25% during 2024-2030 | Key Companies: Qualcomm, Sierra Wireless, Thales Digital Identity and Security (ex Gemalto), Texas Instruments, ZTE Corporation

Cellular IoT, short for Cellular Internet of Things, is a subset of the broader Internet of Things (IoT) ecosystem that leverages cellular networks to connect and communicate with devices and sensors remotely. Unlike traditional IoT devices that rely on local area networks (LANs) or wireless technologies like Wi-Fi or Bluetooth, cellular IoT devices use cellular networks such as 4G LTE, 5G, or NB-IoT (Narrowband IoT) to transmit data over longer distances.

The global Cellular IoT Market size is estimated at USD 6.19 billion in 2024, and is expected to reach USD 26.78 billion by 2030, growing at a CAGR of +25% during the forecast period (2024-2030).

The increasing adoption of digital technologies and automation across industries like manufacturing, automotive, healthcare, agriculture, and utilities has created a growing demand for cellular IoT solutions. These solutions enable real-time monitoring, control, and automation of processes, leading to improved efficiency, productivity, and cost savings.

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Top Key Players Profiled in this Report:
Qualcomm Inc. (U.S.), Sierra Wireless, Thales Digital Identity and Security (ex Gemalto), Telit Communications PLC, U-Blox Holding AG, Texas Instruments, ZTE Corporation, Sequans Communication, Mistbase Communication System, Mediatek Inc., Commsolid GmbH, and other prominent players.

The surge in digitalization and automation within sectors like manufacturing, automotive, and energy & utilities is poised to fuel the expansion of the worldwide cellular IoT market. Moreover, escalating requirements for broader network reach, growing interest in expanding business horizons beyond mobile broadband, and the necessity to accommodate numerous connected devices in global enterprises are anticipated to be pivotal drivers for the cellular IoT market's growth.

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1. It offers an analysis of changing competitive scenario.
2. For making informed decisions in the businesses, it offers analytical data with strategic planning methodologies.
3. It offers seven-year assessment of Global Cellular IoT Market.
4. It helps in understanding the major key product segments.
5. Researchers throw light on the dynamics of the market such as drivers, restraints, trends, and opportunities.
6. It offers regional analysis of Global Cellular IoT Market along with business profiles of several stakeholders.
7. It offers massive data about trending factors that will influence the progress of the Global Cellular IoT Market.

The Asia-Pacific region is poised to witness the most rapid expansion in the cellular IoT market, primarily driven by countries like China and India, which boast substantial semiconductor dealer networks. Additionally, the region's burgeoning influx of technology firms and heightened investments in IoT technology are forecasted to further propel market growth.

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Based on products type, the report describes major products type share of regional market. Products mentioned as follows:
• 2G
• 3G
• 4G
• LTE-M
• NB-LTE-M
• NB-IoT
• 5G

Based on Application, the report describes major application share of regional market. Application mentioned as follows:
• Agriculture
• Environmental Monitoring
• Automotive & Transportation
• Energy
• HealthCare
• Manufacturing
• Retail
• Smart City
• Consumer Electronics
• Building Automation

A detailed outline of the Global Cellular IoT Market includes a comprehensive analysis of different verticals of businesses. North America, Latin America, Asia-Pacific, Africa, and Europe have been considered for the studies on the basis of several terminologies.

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Note: All of the reports that we list have been tracking the impact of COVID-19 on the market. In doing this, both the upstream and downstream flow of the entire supply chain has been taken into account. In addition, where possible we will provide an additional COVID-19 update report/supplement to the report in Q3, please check with the sales team.

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