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Rising Smart City Initiatives Drive Cellular IoT Market Growth: A Key Catalyst Accelerating Global Cellular IoT Market Growth in 2025
Cellular IoT
Cellular IoT Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The market size of cellular IoT has expanded dramatically over the past few years. The market value is expected to increase from $7.21 billion in 2024 to $9.24 billion in 2025, with a compound annual growth rate (CAGR) of 28.1%. The superior growth during the historical period is mainly due to improvements in cellular technology, decline in sensor expenses, enhanced battery performance, advancements in cloud computing and big data, and the development of standardization and protocols.
Cellular IoT Market Size Forecast: What's the Projected Valuation by 2029?
In the coming years, the cellular IoT market is anticipated to exponentially expand. Its projection for 2029 is a substantial growth to $23.83 billion, following a Compound Annual Growth Rate (CAGR) of 26.7%. The significant expansion throughout the forecast period can be accredited to the burgeoning e-commerce industry, the widespread use of IoT devices, the demand for a transparent supply chain, adherence to regulations, and safety requirements. Future trends to observe within the forecast period consist of technological innovations, integration of AI and Machine Learning, unveiling of new products, and synergy with edge computing.
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What Are the Drivers Transforming the Cellular IoT Market?
The cellular IoT market is projected to expand due to the rising number of smart city projects. These urban areas use advanced technologies and data-driven solutions to boost residents' quality of life, optimize resource management, and encourage sustainability and economic growth. The proliferation of these projects can be attributed to governments acknowledging the role of technology in enhancing urban infrastructure, citizen services, and problem-solving. Cellular IoT allows smart cities to effectively manage their infrastructures and services via real-time data gathering and communication. It accommodates applications like intelligent lighting, traffic administration, and environmental observation, thus improving urban living. For example, the IMD Smart City Index Report from a Switzerland-based business school revealed that the global number of smart cities increased from 118 in 2021 to 141 in 2023. Consequently, the growth of the cellular IoT market is being propelled by the accelerating number of smart city projects.
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What Long-Term Trends Will Define the Future of the Cellular IoT Market?
Leading organizations involved in the cellular IoT sector are making efforts to design and launch innovative solutions like industrial IoT cellular routers to establish a competitive advantage. These routers are stable network devices designed to link industrial devices and systems to the global net via cellular networks. For example, in February 2024, Digi International Inc, an IoT technology company based in the US, rolled out the Digi IX40. This is a 5G edge computing industrial IoT cellular router solution specifically meant for Industry 4.0 applications. It offers 5G connectivity and edge intelligence, necessary for applications such as predictive upkeep, asset monitoring, machine education, and advanced robotics. The IX40 smoothly connects numerous machines irrespective of their nature, wired or wireless, in challenging situations. It enhances the union of cloud-delivered operational technology solutions with related information technology to simplify intricate operations and boost IT infrastructure.
Which Segments in the Cellular IoT Market Offer the Most Profit Potential?
The cellular iotmarket 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, Healare, 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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Which Firms Dominate the Cellular IoT Market by Market Share and Revenue in 2025?
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
Which Regions Offer the Highest Growth Potential in the Cellular IoT Market?
North America was the largest region in the cellular IoT market in 2024. 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.
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