LTE IoT Market: Trends, Opportunities and Competitive Analysis [2023-2028]

LTE IoT Market Trends and Forecast

The future of the global LTE IoT market looks promising with opportunities in the IT & telecommunication, consumer electronic, retail, healthcare, and industrial sectors. The global LTE IoT market is expected to reach an estimated $3.8 billion by 2028 with a CAGR of 21.4% from 2023 to 2028. The major drivers for this market are rising demand for connected devices, growing preference for manufacturing units equipped with smart technologies, and increasing adoption of revolutionary wireless technologies including 5G and NB-IoT across the globe.

A more than 150-page report is developed to help in your business decisions.

LTE IoT Market by Segment

The study includes trends and forecast for the global LTE IoT market by service, product type, end use industry, and region

LTE IoT Market by Service [Shipment Analysis by Value from 2017 to 2028]:

• Professional
• Managed

LTE IoT Market by Product Type [Shipment Analysis by Value from 2017 to 2028]:

• NB-IoT
• LTE-M

LTE IoT Market by End Use Industry [Shipment Analysis by Value from 2017 to 2028]:

• IT & Telecommunication
• Consumer Electronics
• Retail
• Healthcare
• Industrial
• Others

LTE IoT Market by Region [Shipment Analysis by Value from 2017 to 2028]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of LTE IoT Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies LTE IoT companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the LTE IoT companies profiled in this report include:

• Qualcomm Technologies
• Gemalto
• u-blox AG
• Telefonaktiebolaget LM Ericsson
• Cisco System

LTE IoT Market Insights

• Lucintel forecasts that LTE-M is expected to witness highest growth over the period due to its significant application to lower modem expenses, simplify systems, increase coverage, and enable data privacy and protection.
• Industrial will remain the largest segment due to increasing need for IoT-enabled devices among industries to efficiently manage business communications, daily operations, and industrial processes.
• Europe will remain the largest region over the forecast period due to existence of major telecom sectors, growing demand for telco cloud, and the presence of key players in the region.

Features of the Global LTE IoT Market

• Market Size Estimates: LTE IoT market size estimation in terms of value ($B).
• Trend and Forecast Analysis: Market trends (2017 to 2022) and forecast (2023 to 2028) by various segments and regions.
• Segmentation Analysis: LTE IoT market size by various segments, such as by service, product type, end use industry, and region in terms of value ($B).
• Regional Analysis: LTE IoT market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
• Growth Opportunities: Analysis of growth opportunities in different services, product types, end use industries, and regions for the LTE IoT market.
• Strategic Analysis: This includes M&A, new product development, and competitive landscape of the LTE IoT market.
• Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

• Q1. What is the LTE IoT market size?
• Answer: The global LTE IoT market is expected to reach an estimated $3.8 billion by 2028.
• Q2.What is the growth forecast for LTE IoT market?
• Answer: The global LTE IoT market is expected to grow with a CAGR of 21.4% from 2023 to 2028.
• Q3.What are the major drivers influencing the growth of the LTE IoT market?
• Answer: The major drivers for this market are rising demand for connected devices, growing preference for manufacturing units equipped with smart technologies, and increasing adoption of revolutionary wireless technologies including 5G and NB-IoT across the globe.
• Q4. What are the major segments for LTE IoT market?
• Answer: The future of the LTE IoT market looks promising with opportunities in the IT & telecommunication, consumer electronic, retail, healthcare, and industrial sectors.
• Q5. Who are the key LTE IoT companies?
• Answer: Some of the key LTE IoT companies are as follows:
  • Qualcomm Technologies
  • Gemalto
  • u-blox AG
  • Telefonaktiebolaget LM Ericsson
  • Cisco System
• Q6. Which LTE IoT market segment will be the largest in future?
• Answer: Lucintel forecasts that LTE-M is expected to witness the highest growth over the forecast period owing to its capability to lower modem expenses, simplify the systems, increase coverage, and enable data privacy and protection.
• Q7. In LTE IoT market, which region is expected to be the largest in next 5 years?
• Answer: Europe will remain the largest region over the forecast period due to existence of major telecom companies, growing demand for telco cloud, and increasing adoption of LTE technology for enterprise application in the region.
• Q8.Do we receive customization in this report?
• Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the LTE IoT market by service (professional and managed), product type (NB-IoT and LTE-M), end use industry (IT & telecommunication, consumer electronics, retail, healthcare, industrial, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?