Global IoT Cellular Market was valued US$ 1.3 Bn in 2016, and expected to reach US$ 11.7 Bn by 2026, at a CAGR of 27.5% during forecast period.
Global IoT Cellular Market
The world is quickly moving towards a phase of connected everything, while a lot of the devices in homes and offices will get connected through the already existing Wi-Fi, a lot of smart devices are also expected to exist outside this empire of connectivity.
In this ever-changing technological world, more and more devices are getting contacted together and building internet of things (IoT) architecture across the world. In fact, all the internet devices will be connected in future. IoT is a key organizer of this possibility by delivering machine-to-machine and machine-to-person communication on a huge scale. There will more than 30 billion connected devices by the year 2026. The large segment of these devices will be connected through LAN, Wi-Fi, and other short-range radio wave technologies while some portion of these devices will be connected through wireless area networks (WAN) that are primarily facilitated by cellular networks.
Cellular IoT offers advanced connectivity technologies that connect billions of IoT devices to the Internet across the globe. These advanced cellular IoT technologies include 3G, 4G, 5G, and LPWA (Low Power Wide Area) cellular technologies such as NB-IoT and LTE-M. Cellular IoT offers global coverage, reliable connection of IoT devices, and low-cost hardware which is required for cellular IoT connections.
Developing applications, such as automotive connectivity, fleet management, healthcare device connectivity, and wearables healthcare equipment, are expected to drive the growth of cellular IoT device market. In addition, IoT devices find application in a host of other applications, including smart metering, weather monitoring systems, personnel traffic pattern monitoring, infrastructure security systems, flood management, and agricultural management among others. Factors such as fragmentation and strong competition from LPWAN technologies, such as LoRA and SigFox, may limit the market growth of this market for the medium term. However, frequent efforts taken to standardize the industry and well-known emerging venues for several important applications of cellular IoT devices are expected to boost the growth of this market in coming year.
Among the key regional markets, China is expected to show relatively higher growth in the global cellular IoT market, registering highest CAGR during the forecast period. Revenue from the cellular IoT market in North America and Europe is expected to collectively account for over 50.1% of the global cellular IoT market revenue during the forecast period.
Key players operated in the market includes Qualcomm Incorporated, Gemalto NV, Sierra Wireless, Telit Communications Plc., Texas Instruments, U-Blox Holdings AG, ZTE Corporation, Mistbase Communications System, Sequans Communication System, Mediatek Inc., S.A., Ericsson AB, ARM Holdings, Huawei Technologies Co., Ltd., Vodafone Group plc,
Scope of Global IoT Cellular Market:
Global IoT Cellular Market by Offering:
Global IoT Cellular Market by Type:
Global IoT Cellular Market by Application:
• Consumer Electronics
• Automotive & Transportation
• Environment Monitoring
• Building Automation
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This information is reported by Maximize Market Research Company