Cellular IoT Market is expected to grow at a CAGR of 22.38% through 2029.
Growing Demand for Connected Devices and Rising Need for Efficient Asset Tracking are factors driving the Global Cellular IoT Market in the forecast period 2025-2029.
According to TechSci Research report, “Cellular IoT Market - Global
Industry Size, Share, Trends, Opportunity, and Forecast 2019-2029”, The Global Cellular IoT Market is poised for robust growth in the foreseeable future, driven by several key factors, The global expansion of cellular IoT is
facilitated by the proliferation of rapidly expanding economies and the
widespread adoption of advanced technologies. The increasing number of
connected devices in the world, which is supported by the widespread trend of
digitalization and automation in a variety of industries like manufacturing,
the automobile industry, and energy and utilities, is another factor driving
this growth. The enormous potential of the cellular IoT market is further
highlighted by the rise in demand for expanded network coverage and a growing
trend towards business expansion beyond mobile broadband. Global businesses are
realizing more and more that they must support a wide range of connected
devices, which is accelerating the cellular IoT landscape's growth trajectory.
The cellular internet of things (IoT)
market is semi-consolidated, with many smaller companies operating in both
domestic and international markets coexisting with a few major players. The
technology industry is still vibrant and full of opportunities for new product
development and strategic alliances through mergers and acquisitions, even in
the face of a small number of dominant players. The launch of Qualcomm's
ground-breaking platform, Qualcomm Aware, in February 2023 is one noteworthy
development in this field. With Qualcomm silicon and a network of hardware and
software partners, this creative cloud-friendly solution provides a broad
platform for multiple IoT projects that fall under Qualcomm's purview, Strategically crafted, Qualcomm Aware is
tailored to provide organizations spanning various industries with a scalable
and economically efficient investment option. It expedites time to market,
streamlines digital transformation efforts, and furnishes transformative
insights pivotal for informed decision-making and navigating intricate
cross-industry hurdles.
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spread through XX Pages and an in-depth TOC on the "Global Cellular IoT Market"
Based on End User, the Automotive & transportation segment is
expected to dominate the market during the forecast period, During the forecast period, the
automotive segment is projected to emerge as the leading force in the cellular
IoT market. This dominance is driven by the rapid integration of IoT technology
into vehicles, facilitating connected features and services. Connected vehicles
leverage cellular IoT for functionalities like telematics, fleet management,
and vehicle-to-everything (V2X) communication, enhancing safety, efficiency,
and user experience. Regulatory mandates, such as eCall systems in Europe,
further accelerate the adoption of cellular IoT in the automotive sector.
Additionally, partnerships between automotive manufacturers, technology
companies, and network operators drive innovation and the development of
tailored IoT solutions for vehicles. With consumer demand for connected
features on the rise, cellular IoT enables real-time updates, remote
diagnostics, and advanced driver assistance systems, meeting the evolving needs
of drivers and enhancing overall market growth.
As the automotive industry continues to
embrace IoT connectivity, leveraging cellular networks for seamless
communication and data exchange, it is poised to maintain its dominance in the
cellular IoT market, shaping the future of connected mobility.
Based on Region, The Asia Pacific region is poised to assert dominance in the cellular IoT market throughout the forecast period, driven by several key factors, The Asia Pacific region stands at the
forefront of the cellular IoT market, poised to assert its dominance throughout
the forecast period. A confluence of factors positions this region as a
powerhouse in the realm of IoT technology and deployment. Firstly, the sheer
scale of the Asia Pacific's population provides a vast market for IoT
solutions. With a significant portion of the world's population residing in
countries like China, India, and Southeast Asian nations, the potential for IoT
adoption is immense. Moreover, rapid urbanization across the region fuels the
demand for smart city solutions, where IoT plays a pivotal role in optimizing
infrastructure, utilities, and public services. Governments in Asia Pacific are
actively promoting IoT initiatives, recognizing its transformative potential
across various sectors. Policy frameworks and incentives aimed at fostering
innovation and digitalization further accelerate IoT adoption.
The advent of 5G technology amplifies
Asia Pacific's dominance in cellular IoT. With 5G networks being deployed at a
rapid pace, the region is at the forefront of leveraging high-speed,
low-latency connectivity for IoT applications. Emerging standards like NB-IoT
and LTE-M cater specifically to IoT requirements, offering efficient and
cost-effective connectivity solutions. Industries in Asia Pacific, including
manufacturing, agriculture, healthcare, and transportation, are increasingly
integrating IoT to enhance efficiency, productivity, and sustainability. This
trend is propelled by the region's strong manufacturing base, technological
prowess, and a growing emphasis on digital transformation. Asia Pacific's tech ecosystem further cements
its leadership in cellular IoT. The region boasts some of the world's leading
technology companies, fostering innovation and collaboration in IoT
development. Additionally, rising disposable incomes and a burgeoning middle
class drive consumer demand for smart devices and IoT-enabled services,
creating a vibrant market landscape, the Asia Pacific region's favorable
demographics, supportive regulatory environment, technological advancements,
and growing market demand position it as a dominant force in the cellular IoT
market. As IoT continues to permeate various aspects of daily life and business
operations, Asia Pacific is primed to lead the charge in shaping the future of
connected devices and services.
Key market players in the Global Cellular
IoT Market are:-
- Commsolid
GmbH
- Sequans
Communications
- MediaTek
Inc.
- ZTE
Corporation
- U-Blox
- Texas
Instruments Incorporated
- Qualcomm
Technologies, Inc.
- Thales
Group
- Semtech
Corporation
- Telit Cinterion
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“The global Cellular IoT (Internet of
Things) market is propelled by several key drivers. The widespread adoption of
connected devices across industries, such as healthcare, manufacturing, and
smart cities, is fostering increased demand for Cellular IoT solutions. The
deployment of 5G networks further enhances the market, providing higher data
speeds and lower latency for efficient device connectivity. The rising need for
efficient asset tracking, especially in logistics and supply chain management,
is driving the adoption of Cellular IoT. Additionally, industry-specific
applications, such as smart agriculture and healthcare monitoring, showcase the
versatility of Cellular IoT in addressing sector-specific challenges. As
security concerns persist, the development of robust security measures remains
a critical driver, ensuring the integrity of data transmitted over Cellular IoT
networks. These drivers collectively contribute to the continuous growth and
evolution of the global Cellular IoT market.” said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based global management consulting
firm.
“Cellular IoT Market - Global Industry
Size, Share, Trends, Opportunity, and Forecast Segmented By Component
(Hardware, Software), by Type (2G, 3G, 4G, 5G, LTE-M, NB-LTE-M,
NB-IoT), by End-User (Retail, Energy, Healthcare, Manufacturing, Consumer
Electronics, Automotive & Transportation, Other), By Region, and By Competition 2019-2029”
has evaluated the future growth potential of Global Cellular IoT Market and
provides statistics & information on market size, structure, and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Cellular IoT Market.
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