Cellular IoT Market Size Projected To Reach $25.36 Billion By 2034 With A Cagr Of 28.5%

The Cellular IoT Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

What Is the Projected Growth of the Cellular IoT Market?
The cellular IoT market size has experienced significant growth in recent years. It is projected to increase from $7.21 billion in 2024 to $9.29 billion in 2025, with a compound annual growth rate (CAGR) of 28.8%. The historical growth is attributed to advancements in cellular technology, reduced sensor costs, improved battery life, cloud computing, big data, and the development of standardization and protocols.

The cellular IoT market is projected to grow to $25.36 billion by 2029, with a CAGR of 28.5%. Growth drivers include the expanding e-commerce industry, increased IoT device adoption, the need for supply chain visibility, regulatory compliance, and safety concerns. Major trends will include AI and machine learning integration, new product launches, and collaboration with edge computing.

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What Are the Different Cellular IoT Market Segments?
The cellular IoT market covered in this report is segmented -

1) By Components: Hardware, Software, Services
2) By Technology: Second Generation (2G), Third Generation (3G), Fourth Generation (4G), Long-Term Evolution for Machines (LTE-M), Narrowband Long-Term Evolution for Machines (NB-LTE-M), Narrowband Internet of Things (NB-IoT), Fifth Generation (5G)
3) By Application: Alarms And Detectors, Smart Appliances, Smart Metering, Smart Parking, Smart Street Light, Surveillance And Monitoring, Trackers, Wearable Devices, Other Applications
4) By End-User: Agriculture, Automotive and Transportation, Consumer Electronics, Energy, Environment Monitoring, Healthcare, Retail, Smart Cities, Other End-Users

Subsegments:
1) By Hardware: IoT Modules, IoT Sensors, Connectivity Devices, Actuators
2) By Software: IoT Platforms, Data Analytics Software, Security Software, Device Management Software
3) By Services: Connectivity Services, Cloud Services, System Integration Services, Managed Services

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What Are the Primary Drivers Shaping the Cellular IoT Market?
The growth of smart city projects is likely to drive the cellular IoT market forward. Smart cities use advanced technology and data-driven solutions to improve residents' quality of life, enhance resource management, and support sustainability. Governments are increasingly recognizing technology's potential to address urban challenges, improve services, and manage infrastructure. Cellular IoT helps smart cities manage services through real-time data and communication, enabling applications like smart lighting, traffic management, and environmental monitoring. For example, the IMD Smart City Index Report showed an increase in smart cities globally, from 118 cities in 2021 to 141 cities in 2023, indicating the growing trend of smart city initiatives.

Which Companies Are Leading in the Cellular IoT Market?
Major companies operating in the cellular IoT market are Verizon Communications Inc., China Mobile Limited, AT&T Inc., Deutsche Telekom AG, Robert Bosch GmbH, Huawei Technologies Co. Ltd., T-Mobile US Inc., Intel Corporation, SoftBank Group Corp., Vodafone Group, Cisco Systems Inc., Orange S.A., Qualcomm Incorporated, Telefonica SA, Nokia Corporation, KT Corporation, MediaTek, Thales Group, ZTE Corporation, Telstra Group Limited, SK Telecom Co.Ltd., Telit Communications, u-blox, Sierra Wireless, Sequans Communications

What Are the Latest Developing Trends in the Cellular IoT Market?
In the cellular IoT market, companies are advancing industrial IoT cellular routers to enhance connectivity in industrial applications. For example, in February 2024, Digi International Inc., a US-based technology company, launched the Digi IX40, a 5G-enabled industrial IoT router solution for Industry 4.0. This router supports predictive maintenance, machine learning, and advanced robotics, facilitating seamless connectivity in demanding environments.

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What Are the Top Revenue-Generating Geographies in the Cellular IoT Market?
North America was the largest region in the cellular IoT market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cellular IoT market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Cellular IoT Market?
2. What is the CAGR expected in the Cellular IoT Market?
3. What Are the Key Innovations Transforming the Cellular IoT Industry?
4. Which Region Is Leading the Cellular IoT Market?

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