Cellular IoT Connections and Connectivity Market Set for Remarkable Growth, Expected to Reach US$ 12.7 Bn by 2031

The Global Cellular IoT Connections and Connectivity Market is projected to witness a significant growth trajectory, expanding at a Compound Annual Growth Rate (CAGR) of 19.1% from 2023 to 2031. The market, which was valued at US$ 2.7 billion in 2022, is estimated to reach an impressive US$ 12.7 billion by the end of 2031, driven by the burgeoning demand for IoT devices in various sectors including smart cities, smart buildings, and smart meters.

Download Sample PDF from Here- https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=77351&utm_source=Openpr&utm_medium=Amit

Driving Factors and Market Opportunities
The surge in the adoption of IoT devices is a major catalyst for market growth. IoT devices are integral to smart city initiatives, facilitating enhanced data collection and improved efficiency and sustainability. In smart cities, IoT devices like traffic sensors, water quality sensors, and streetlights are connected via cellular IoT technology, ensuring reliable and scalable connectivity.

The market is also poised for substantial opportunities in the automotive and healthcare industries. In the automotive sector, the deployment of connected devices and automated vehicles is revolutionizing transportation. Cellular vehicle-to-everything (CV2X) platforms are enhancing vehicle communication and data transmission. The healthcare industry is leveraging cellular IoT technologies such as NB-IoT and 5G for applications ranging from wearable sensors to remote patient monitoring, driving significant demand for reliable and wide-ranging connectivity solutions.

Technological Advancements and Market Innovations
The deployment of 4G networks and the advent of 5G technology have made cellular IoT connectivity more accessible, efficient, and cost-effective, thus fueling market growth. Key players in the industry, including ARM Limited, Huawei Technologies, and Qualcomm Technologies, are investing heavily in research and development to enhance service performance and innovate new technologies for sensor integration.

Access Full Report from Here - https://www.transparencymarketresearch.com/cellular-iot-connections-and-connectivity-market.html

Market Segmentation
Component
• Hardware
• Software
• Services
Technology
• 2G/3G
• 4G
• LTE-M
• NB-IoT
• 5G

Regional Market Insights
North America is expected to dominate the global market throughout the forecast period, thanks to its technological advancements and high adoption rates in the automotive, transport, and logistics sectors. The U.S., in particular, is a hub for major companies engaged in the cellular IoT market.
Asia Pacific is anticipated to exhibit notable growth, driven by increasing smart city and infrastructure projects in countries like China and India. These initiatives are expected to accelerate the adoption of cellular IoT connections and connectivity solutions in the region.

Key Developments
• In May 2023, Nordic Semiconductor and Onomondo announced a collaboration to introduce Onomondo's SoftSIM to cellular IoT end-products based on Nordic's nRF9160 low power SiP. The combination of Onomondo's SoftSIM and Nordic's low power nRF9160 SiP would be integrated with LTE-M/NB-IoT modem and GNSS, which is expected to provide an out-of-the-box connectivity solution that eliminates the need of physical SIM cards.
• In April 2023, Bharti Airtel, an India-based telecom operator, entered into a partnership with Secure Meters to deploy Narrow Band Internet of things (NB-IoT) services for smart meter solutions in the state of Bihar, India. This collaboration is expected to benefit 1.3 million homes in the state, and the meters are likely to work on 2G and 4G networks for real-time connectivity and continuous data transfer.
• In November 2022, Sisvel International S.A. launched its cellular internet of things patent pool that consists 20 patent owners. The company is making it easier for manufacturers of IoT devices to make a balanced choice out of the available technologies, by providing a framework for obtaining licenses under the pool's portfolio of LTE-M and NB-IoT SEPs.

Click Here to Purchase this Comprehensive Insights Report @ https://www.transparencymarketresearch.com/checkout.php?rep_id=77351<ype=S&utm_source=Openpr&utm_medium=Amit

0About Us Transparency Market Research

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.

Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.

Contact Us:

Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Website: https://www.transparencymarketresearch.com
Email: sales@transparencymarketresearch.com

This release was published on openPR.